Making an S Corporation Election as a Married Business Owner

If you’re a married business owner and you want your business to be taxed as an S corporation, there are several things you need to know. The difference between community property and co-ownership of an asset Let’s take the example of owning a car. If you and your spouse are both on the title to […]

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Follow This 8 Point Plan When Starting Your New Business

Starting a new business can seem overwhelming – especially when you’re doing it alone.  Creating a business plan will allow you to refine incomplete ideas, address areas you may have not yet considered, create a map so you know what to do next, and increase credibility for bank loans or investor funding. While you may […]

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4 Things You Must Take Care of Before Your Kid Goes Off To College

May is graduation month. This is a time when many of you may be celebrating your child’s academic achievements and even getting ready to send them off to college. During this hectic and emotionally tumultuous time, you may be all-consumed with helping prepare your soon-to-be college student for the next phase, causing you to overlook […]

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Organizing for Tax (and Estate Planning) Season

It’s the start of a new year, which means tax season—and this year’s April 17th IRS filing deadline—is just around the corner. Soon you’ll be receiving tax forms such as your W-2 or 1099s, and you’ll start thinking about the life events that could affect your taxes in various ways. This flurry of tax prep […]

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Why a Spendthrift Trust Can Be a Great Solution for Your Heirs

There are many tools that can be used when putting together your estate plan. One such tool is a trust. A trust is a fiduciary arrangement, established by a grantor or trustmaker, which gives a third party (known as a trustee) the authority to manage assets on behalf of one or more persons (known as […]

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Gift Giving the Tax-Free Way

Although it’s the season of giving, no one wants to share with the IRS. Luckily, the law provides you many opportunities to give gifts to family, friends, and charities tax-free.  Some are straightforward, while others may require the help of a professional.

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