If you are expecting to sell an intangible asset such as stock in a company in 2021, you should strongly consider the integration of an INGTrust into your estate, asset protection and succession plans and complete your transaction before June 30, 2021. Three states in the U.S. offer a trust described as an incomplete gift […]
INGTrust Wealth Preservation Maximize your ING in 2021 (California Grantors) Read More »
Last month, I discussed proposed legislation in California relating to incomplete gift non-grantor trusts (“ING(s)”). If passed into law, the legislation will end certain tax benefits attributable to the use of INGs. My focus last month related to Nevada INGs (“NING(s)”). Many of our clients have NINGs and since my article last month, we are
INGTrust Wealth Preservation Maximize your ING in 2021 Round Two (California Grantors) Read More »
A Guide for Success The wave of businesses leaving California is growing. The exodus will increase over the next two years due to contemplated state and federal tax increases. Short of physically moving a business out of California, many business owners are keeping a California location, but opening new businesses outside of California. There are
Expensing Service and Licensing Fees to Low and No Tax States Read More »
Attorney Aaron Hegji of Lobb & Plewe, LLP, and a director of the Coalition For American Retirement (CFAR) is pleased to announce that legislation prepared by the CFAR is included in the Portman Cardin retirement savings bill (the Retirement Security and Savings Act) introduced by senators Rob Portman, R-Ohio, and Ben Cardin, D-Md. The senators
Portman-Cardin bill includes IRA Preservation Act Read More »
A trustee is bound by the terms of the trust agreement. The performance of his or her duties, including and especially making distributions to beneficiaries, must strictly comply with the trust terms. However, more and more trusts, especially those utilizing advanced estate, tax, and asset protection planning techniques, provide an independent trustee with sole and
Trustees Responsibility when Trustee has Sole and Absolute Discretion Read More »
When starting a new business, you will want to decide whether to operate your business as a sole proprietorship or as a separate person by forming an entity. In rare instances, operating as a sole proprietorship is sufficient. However, in the vast majority of instances, you will want to form an entity to operate your
Forming and operating your business Read More »
When your business interests are threatened by the prospect of litigation, you need to know what to do in order to protect your investment. We have seen many companies who failed to realize the impact that litigation has upon a business’s day-to-day operations, resulting in significant harm that is difficult to overcome. We wanted to
Four tips for business owners facing potential litigation Read More »
Authored By David Kotik No business should operate without a succession plan in place. The succession plan should have its imprint on the day-to-day operations of the business. Once you have a succession plan in place, the implementation of that plan will integrate itself into the fabric of decision making. Importantly as well, the timing
Succession Planning: Structuring a Successful Plan With Tax and Non-Tax Considerations Read More »
Being a small business owner can be at once rewarding and challenging. Having the IRS overseeing financial transactions and facing the possibility of losing assets to IRS seizure only makes matters more difficult. Under what rule does the IRS seize business assets? As a general rule under the Bank Secrecy Act of 1970, banks are
New law helps business owners avoid asset seizure by the IRS Read More »
Businesses have been put on notice that, once a group of 76 new inspectors are trained, OSHA plans to inspect more businesses for jobsite safety violations. U.S. Secretary Alexander Acosta in April personally informed a House Appropriations subcommittee that OSHA inspections will become more frequent than they currently are. The hiring freeze President Trump placed
Look out business owners, here comes OSHA Read More »
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