S-Corporations are a popular business structure but not always a perfect fit. Pros: Pass-through taxation (no double taxation) Limited liability protection for owners Potential tax savings on self-employment taxes Cons: Stricter operational requirements than LLCs...
Here are the 4 typical “contingencies” you will find in contracts to purchase or sell property. Basically, contingencies will kill the deal. Pay attention to these: Financing – if buyer doesn’t get financing – no deal. Appraisal – if the property doesn’t appraise for...
It can be overwhelming when a loved one passes away. Then, throw in a probate and it can feel worse but it doesn’t have to be. Here is the simplified overview of what to expect from a probate: File the Will and an Application for Probate. Appoint an Executor. Notify...
It is critical for developers to understand zoning laws. Here are a few of the biggie areas to know for successful projects: Types of zoning classifications (residential, commercial, industrial, etc). Permitted uses within each classification. Process to change zoning...
Don’t run your business any longer without a good Buy-Sell Agreement. Buy-Sell Agreement = documents what happens when a business owner wants to leave; becomes incapacitated; or passes away. Here are 5 key elements to include: Triggering Events (death, disability,...
A person appears to have two choices for what happens to their Facebook account upon death: Have the account permanently deleted; or Appoint a “legacy contact” to look after a memorialized account. No one can log into a memorialized account if there is no legacy...
