You can’t do a criminal background check on a tenant! You must rent out your property or pay a fine! You must report all of your company’s beneficial owners! Do these exclamations ring of an authoritarian bureaucracy? That bell is ringing louder in the last year as...
Investing In Digital Assets: The New Wyoming Blockchain Mecca Blockchain technology is becoming ever more prevalent in today’s highly technological world, and Wyoming has recognized this. The Wyoming State Legislature has passed 13 bills that will allow it to become...
New Texas Case Sends Shock Waves LLCs are set up to make personal assets inaccessible for any obligations of the entity. Protection may be lost, however, if you are not aware of your personal conduct when managing business through your LLC. The case below deals with...
When it comes to charging orders, the key asset protection feature of LLC’s and LP’s, there are two opposing trends. First, some states do not provide charging order protection for a single member (one owner) LLC. The rationale is that the charging order exists to...
Businesses With E-Commerce, We're Talking To You What You Should Know About Internet Sales and the South Dakota v. Wayfair, Inc. Case Sales tax policy has changed dramatically within the past year, thanks to the Supreme Court ruling of South Dakota v. Wayfair, Inc....
Are You Buying A Home With All Cash? Prepare to Be Scrutinized Buying a home with all cash has become more difficult. Blame the drug dealers, criminal networks and tax evaders for new rules put forth by the U.S. Treasury Department’s Financial Crimes Enforcement...
Because S Corporations allow for the minimization of payroll taxes, the IRS is now auditing S Corporations to see if reasonable salaries are being paid to employees. The issue here is that if too little in salary is paid, then consequently, too much profit...
When states raise their fees, people vote with their feet. We described Nevada’s new corporate fees in our last issue (a jump from $325 a year to $650.) We also described how you could ‘continue’ your Nevada entity (or any state entity for that matter) into Wyoming,...
When looking to start a business or protect investments you have several options in the type of entity you can form. As with anything, there are advantages and disadvantages to limited liability companies. Advantages It limits liability for managers and members....
The state of Nevada legislature and governor approved higher business taxes last week. Some of the changes have been identified. Others have not seen the light of day. We do know that business license fees have increased. For profit corporations will have annual fees...
You have a great idea that will help your community. You want to benefit the environment, as well as your bottom line. Everything looks promising. But how should your social entrepreneurial venture be organized? Many are starting to use the new benefit corporation –...
I once made the comment: “Never hold real estate in a C corporation… and fire the advisor that even suggests such a thing.” Many people asked, “Why not?” Well, there are three reasons. Reason #1: Capital Gains Taxes Will be Higher When Selling First, for tax reasons...
By Garrett Sutton, Esq. If you have been considering forming a corporation or other business entity to provide yourself with limited liability and financing options in your business venture, you have made an important first step. You may have compared the tax benefits...
By Garrett Sutton, Esq. A C-Corp has the widest range of deductions and expenses allowed by the IRS, especially in the area of employee fringe benefits. A C-Corp can set up medical reimbursement and other employee benefits, and deduct the costs of running these...
By Garrett Sutton, Esq. When Ben & Jerry’s, the socially active ice cream maker, was put up for sale in 2000, the company faced a challenge, both internally and externally: To whom could it sell, and to whom did it owe a duty in the sale? The company received two...