In the past two or three years (which interestingly coincides with the Covid pandemic), I have received more frequent inquiries from clients seeking legal and tax advice regarding problematic situations among owners of multi-member LLCs. Though the specifics of these scenarios differ greatly, typically a well-drafted operating agreement could have prevented much of the dissatisfaction… [Read More].
Summer is the most common season for relocation. Given the prevalence of interstate moves in recent years, many small business owners are curious about some of the impacts that moving to a new state can have on a small business that they own. I have received several requests for consultations on this topic recently and… [Read More].
Each year I provide a tax organizer document for each of my tax preparation clients to complete. It requests demographic information and answers to several questions about the client’s tax situation. These questions ask about the client’s income and deductions and seek information to determine the client’s tax reporting obligations. One question that appears on… [Read More].
Most small businesses require the services of more than one person to operate effectively. Even sole proprietors may need support from a virtual assistant, a webmaster, an accountant, or an attorney to help the business thrive. However, in some cases, a business owner may seek outside services on an ongoing basis, from these or other… [Read More].
Generally, with regard to the amount of tax paid, it works out favorably for most married taxpayers to file jointly, or together with their spouse. Filing jointly involves reporting the income and deductions of both spouses on the same return. But married taxpayers have another option, they have the option of filing separately from their… [Read More].
Did you know that a corporation or LLC is considered to be a legal “person” under the law? An existing entity established under state law is like a living human being—it has legal rights, tax obligations, and it can be sued. Until it is “pronounced dead” so to speak, by terminating it under state law,… [Read More].