Many business owners choose to organize their businesses as separate legal entities such as corporations or LLCs. There are many advantages for doing so, but one of the primary advantages a corporation or an LLC provides a business owner is limited liability protection. This means that, generally, if a plaintiff wins a lawsuit against a […]
Over the next few newsletters, we will be doing a series on “The Basics” of a variety of things in our practice areas, including Trusts, Residential Real Estate Transactions, Probate, etc. In this Newsletter, we are starting with business structures and how they each differ from one another. Sole Proprietorship – A sole proprietor is […]
Internal Revenue Code Section 1031 Like Kind Exchanges (LKE) can be incredibly beneficial upon the sale of income producing property, but are one of the most underutilized sections of the tax code. A LKE is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement […]
An eleven year old girl, K.N.T., was seriously injured in an ATV accident. The drivers of the ATV were uninsured, so K.N.T.’s mother filed an uninsured motorist claim with her own insurance provider, American Family. The American Family claims manager responsible for the claim denied it, citing an exclusion contained in a generic American Family […]
If you own a small business, you know that it can be difficult to manage the day-to-day operations of the business while also keeping up with all of the rules and regulations employers must follow. Fortunately, there are many resources available to assist small business owners on many topics, such as: Employees: If you intend […]
Developing a successful business is not easy – it takes years of hard work and dedication. However, in developing their business, many business owners neglect a key aspect of planning – their exit strategy. Some may think it is too difficult to develop, that they won’t need a plan for a few more years, or […]
