Max Thinks Forming A Business In Arizona Is A Great Idea Now, Max just needs to learn how to form a business in Arizona. Choosing A Business Entity First, he’ll need to choose what type of business he will operate. The structure he uses may affect his taxes, licenses and registrations, formation documents needed, and…
Families usually share a lot with each other. Sharing, though, can be more complex than sharing Grandma’s fruitcake recipe and the family’s cabin in the woods. Some families even share business assets. One business entity that’s used for family business assets is the family limited partnership. It’s also a powerful estate planning tool. It’s All…
Forming A Limited Liability Company So, you’ve decided to open a new Arizona business. Congratulations! Before you sell your first widget or help your first customer, though, you need to jump through some hoops. For example, you’ll need to decide which type of business entity you’ll operate. Will it be a sole proprietorship or a…
Business Buy Sell Agreement – What’s The Importance? Starting and running a small business is not for the faint of heart. At every stage, from the first day at the drawing board to the day the doors open to the annual review of profit and loss statements, business owners give their businesses a lot of…
At Some Point, The Owner Of A Family-owned Business May Need To Transfer Ownership Instead of selling the business outright to a stranger, it seems best to transfer it to the employees or to family members. Maybe they’ve been loyal, hardworking, and have a real grasp of what it takes to keep the business going:…
Business owners have special estate planning needs. After all, they’re not just handing down a pile of cash, the family homestead, and Grandma’s antique armoire. Their companies have customers, vendors, and employees that rely on the company’s continued operation. Even if the owner is incapacitated or passes away, orders must be fulfilled, vendors paid, and…
Estate Planning Is One Of The Most Important Things A Person Can Do For Their Company Properly executed estate plan documents provide an orderly way to take care of a person’s property after death or incapacity. In some cases, that property will continue to be used by family members for generations. As a business owner,…
Business Transfers Within The Family Maybe you’ve considered the question of whether to retire or whether to keep running your business. And you’ve decided it’s time to trade in your ergonomic executive chair for a cushy deck chair. But then more questions arise: What will happen to your business? Who will take over? And can…
Lower Taxes? It’s Happening! In 2016, American taxpayers made one message loud and clear: it’s time to deflate our bloated tax code. Actions in D.C. have raised expectations for many Americans that upcoming tax reform will lower their tax burden. Goals President Trump campaigned on many issues, including the need for tax reform that lowered…
Being a small business owner is hard. You’ve worked long and hard to get where you are. After your business is successful, it’s time to think about what would happen if you want to retire or if you can no longer make business decisions. It’s time to create a business succession plan. What Happens When…