There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no...

One significant advantage to organizing your business as a limited liability company (LLC) is the flexibility it provides. For example, the Internal Revenue Service (IRS) allows LLC owners to choose whether their business will be taxed as a sole proprietorship (if you...

What should I do if my chosen successor trustee dies before me? If the successor trustee of your revocable living trust (RLT) dies before you, nothing will happen immediately with respect to how your trust is managed. If you named a backup to your successor trustee in...

Many business partnerships eventually come to an end. Like other types of relationships, when business partners decide to split up, the process can be amicable or contentious. For personal and professional reasons, dissolving the partnership on good terms is in the...

With the country emerging from pandemic lockdowns and with economic activity beginning to expand, small business owners are optimistic about the future. Supporting local businesses can help them grow and thrive in a post-pandemic economy. But what if you could help a...

In today’s competitive job market, giving gifts and other fringe benefits to employees can be an effective way for employers to show appreciation. But generous employers should understand that most gifts and bonuses—even small ones—have tax implications. Employee...

I engaged Anne’s services after my former employer threatened to sue my new employer for breach of my noncompete, resulting in my termination from the new role. It was a long 9 months, but I wouldn’t be in my improved position today without Anne and her expertise....

Now more than ever, Americans are using a variety of tax-deferred accounts such as 401(k)s and IRAs to save for retirement. And while the laws are currently designed so that people must start withdrawing the money when they retire, it is not uncommon for many of these...

Your retirement account provides asset protection during your lifetime, but as soon as you pass that account on to a loved one, that protection evaporates. When your spouse, child, or other loved one inherits your retirement account, creditors have the power to seize...

Before launching a business, entrepreneurs spend a substantial amount of time and money researching and developing their products or services. For example, you may have worked with graphic designers and a marketing team to create a brand name and logo for your...