May 1, 2019
A limited liability company (“LLC”) has been the mainstream entity for owners of income-producing property. The start-up costs associated with a LLC are relatively inexpensive, and the owner’s desires to shield him or herself from personal liability make it a desirable choice. An LLC is a separate legal entity with a designated tax identification number and separate tax reporting requirements. An owner’s pursuit of asset protection does not come without unforeseen traps or burdens.
November 2, 2018
FAMILY OWNED BUSINESSES – WHAT TO DO WHEN AN AGING OWNER IS BEING SUBJECTED TO FINANCIAL ELDER ABUSE
Beginning in 2011, the baby boom population began turning 65 years old. As the elder population grows, more business owners have begun to plan for their retirement.
October 8, 2018
For many years, companies have sought to avoid the cost of overtime pay, workers’ compensation, and other economic and administrative burdens by classifying workers as independent contractors.
September 1, 2018
Robert Frost wrote, “Good fences make good neighbors.” At Ferruzzo we add: “Smart business partners build custom fences at the beginning of their business venture, and then tend and mend the fences throughout the relationship.” Why? Ranchers do not manage their
herds without fence perimeters circumscribing their grazing valley. Similarly, savvy business owners should seek counseling to guide the birth of their enterprise and thereafter.
November 1, 2017
The unification of the gift and estate tax systems occurred in 1976, and since that time estate planning strategies have changed for married couples.