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...
Firm News
Updating Your Estate Plan After the Death of a Loved One: Frequently Asked Questions
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...
How To Dissolve A Partnership On Good Terms
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...
What to Know Before Investing in a Small Business
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...
What Employers Should Know about Giving Gifts to Employees
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...