Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year. The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities, including the use of shell companies […]
You have 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 […]
Being self-employed is no easy task. You are the owner, and in some cases, the only employee. While you may have more freedom than the average worker, a lot of responsibilities lie on your shoulders. Working together, we can craft a comprehensive estate plan that will help you address three important concerns you may have. Protecting […]
Estate planning helps bring peace of mind and a sense of security, both in our lifetime and beyond. While we cannot predict our fate, we can at least dictate how our money and property will be distributed and ensure that we provide for our loved ones. Physical security is a big part of feeling emotionally, psychologically, and […]
Owning a business involves risk. There are no guarantees that the founders of a company will get along, a product or service will sell, or market conditions or competitors will not create unanticipated barriers. While entrepreneurs must be willing to take a leap of faith, there are steps they can take to reduce risk, both for the […]
When creating a trust, it is common to name yourself as the initial trustee who is responsible for all aspects of administering the trust. However, when considering who will take over when you can no longer act (either because of illness or death), it is sometimes helpful to divide the responsibilities between two or more successor […]
The online marketplace Etsy has gone from a niche craft seller to one of the largest commerce companies in the world. Etsy has millions of active sellers worldwide, most of whom are based in the United States. Many Etsy sellers rely on the site as a primary or secondary income stream. Collectively, they contribute billions of […]
Great ideas are often turned into great businesses. Too often, however, the individuals who turn an idea into a business skip an important step – planning. Good business planning begins with discussions among the owners of a business and their professional advisors, including lawyers, accountants, insurance, and financial professionals. Once the issues are discussed and decided, […]
