Some entrepreneurs love the challenge of starting a new business and creating everything from scratch. However, that may not be the best approach for everyone. Buying an existing business can eliminate the initial legwork of establishing a customer base, training employees, and securing start-up funding, but it is not without its own challenges. As a…

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Boss and employee shaking hands

Small business owners are accustomed to having grace under fire when it comes to running their business. But it is just as necessary that they demonstrate grace when firing an employee.  Due to harsh economic conditions, some sectors of the American economy had to resort to layoffs in the first half of 2022, and there…

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Small business owners put their blood, sweat, and tears into ensuring the success of their company, which, though difficult to measure, are no less valuable than capital contributions. At the same time, if you are investing your time and energy into a limited liability company (LLC), you should establish a method of valuation for your…

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Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.”  From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you anticipated problems and solved them. But if your…

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We protect what we value most with insurance. Car insurance and home insurance ensure that we can financially survive a major property loss. Life insurance pays money to beneficiaries after a death, acting as a financial lifeline to the deceased’s loved ones. Business insurance is a hedge against uncertain losses and unpredictable risks that companies…

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The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing LLC membership interests in a trust, business owners can combine the two types…

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Divorce is rarely simple. When two people’s lives are intertwined—physically, emotionally, and legally—separating the individual strands can be a task akin to untying the Gordian knot. The longer a couple has been together and the more they share, the more difficult this task becomes. It can be even more difficult if the divorcing couple co-owns…

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There are three types of entities that are commonly used to own real estate. These are Limited Liability Companies (LLC), S Corporations (S-Corp) and Trusts. Let’s review what these three entities are, as well as, which one would be best for your real estate investments. Limited Liability Company (LLC) Limited Liability Companies are better for…

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