Gift Giving by Business Owners: Tax Considerations
As the holiday season approaches, gift-giving is on the minds of many business owners. But there are reasons why a business owner may want to give gifts to employees and clients throughout the year and not just during the holidays. Whether to recognize a job well done, boost employee morale, or solidify client relationships, monetary and non-monetary gifts can provide a powerful psychological boost for people.
New Small Business Entity Beneficial Ownership Reporting Guidelines for 2024
Are you a small business owner with less than 20 full time employees? Then this might apply to you! Make sure you check into this before the first of the year, 2024 so that you’re ready to comply.
Pros and Cons of a Florida Ladybird Deed
A Florida Ladybird Deed, also known as an Enhanced Life Estate Deed, is an increasingly popular legal instrument used in estate planning. This type of deed allows property owner(s) to retain control over their homestead property without losing the homestead or tax benefits, while also designating beneficiaries who will inherit it upon their passing. Like any legal tool, there are advantages and disadvantages associated with the use of a Florida Ladybird Deed. In this article, we’ll explore the pros and cons of this estate planning option.
The Dangers of DIY Estate Planning
I’ve had several new clients come to my office with legal documents they downloaded off the Internet, or legal documents they paid some online service for (Legal Zoom, etc.) that created huge, expensive problems for them, or could have caused problems for them if they hadn’t taken these documents to an attorney for review before they passed away.
The problem with Internet legal advice is that sometimes things that look like perfectly good facts are actually just data picked up and presented either by some artificial intelligence bot or a person who is not licensed to practice law in that state. That information is often, at best, erroneous, and at worst, downright wrong.
Estate Plans: What is the “DSUE” and how might it affect me?
Many people want to know how to avoid paying federal estate taxes upon the death of a spouse. The “DSUE” is one of the means by which we can either completely eliminate or at least lessen a person’s federal estate tax liability.
Why Your Business Needs Insurance
There is a lot riding on your small business. You have invested your money, time, and sweat equity to build a company that will be successful for years to come.
Even if you make all the right business moves, unexpected costs can arise at any time. Accidents, natural disasters, data breaches, and other unexpected occurrences are an ever-present risk to business owners. Small business insurance provides additional protection for your enterprise and could be the difference between a bump in the road and a door-closing catastrophe.
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