Business Succession

Choice of Entity (Part II): An Example

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In Part I of our business entity discussion yesterday, we touched upon the biggest concerns of most business owners and used them in a mini-chart describing six major business entities. Today, we’ll work through the six main entities again through an example that will hopefully further clarify the subject further.  Read more...

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Choice of Entity (Part I): Common Concerns and a Comparison

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It is a common recommendation for new business owners to think closely about the type of business entity that is most appropriate for their new enterprises.  The various business entities have different applicable rules and there is no one business form that is appropriate for everyone. Major Concerns of Business Owners When deciding on a…

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Don’t Have $5 Million? 50 Reasons to Get an Estate Plan Anyway

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“Estate Planning” is somewhat of a misnomer.  For example, let’s check out The Free Dictionary’s definition of “estate”. You’ll find that the majority of the 8 provided definitions associate the term either with land or with some kind wealth, social position, or political power.  Read more...

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Business Succession Planning: Gifting and Discounting Basics

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If you currently own a business, estate planning is probably not one of your highest priorities.  You are certainly more concerned about where your income is coming from, how to beat the competition, and how you can better develop your product and service.  Read more...

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