Every business should have a proper legal structure and set of bylaws or an operating agreement upon which it will operate. While some businesses are more suitable for a partnership or corporation, for the last few decades, Limited Liability Companies or LLCs have become one of the most popular structures. …
Business Blog: Congratulations, you hired a subcontractor!
What You Need to Know About Hiring Your First Contractor A big step for a business is deciding to hire workers. A business owner is often faced with a chicken or egg dilemma- does she hire employees anticipating growth of the business, or wait until the business grows and then…
COVID-19 Resources
The Texas Bar and others have compiled some useful information– listed below are a set of links that may be helpful to you, and feel free to share with others: Prevention of COVID-19 Symptoms of COVID-19 What to do if you are sick Texas COVID-19 testing information How to prepare…
Consumer Protections in response to COVID-19
In response to COVID-19, several consumer protection measures have been announced ranging from court hearings, foreclosures, evictions, utilities to student loans, price gouging, bankruptcy and more. Please see the attached article from the National Consumer Law Center to read about the latest measures.
One in Three Americans will Receive an Inheritance – Is Yours is Protected?
One in every three Americans will receive an inheritance during their lifetime, according to a study by Ohio-State researcher Jay Zagorsky. Unfortunately, much of that windfall is lost through spending or bad investing. Mr. Zagorsky offers four steps for handling an inheritance: (1) assess the current financial situation; (2) figure…
The Season for Giving: Donate Appreciated Assets to boost your Charitable Impact
Many clients donate to charities in the spirit of holiday giving. Not all gifts have the same impact, however. Did you know that donating appreciated assets can have a bigger financial impact on the charitable organization than a gift of the cash proceeds from that same asset? Donating the appreciated…
Have you had your Artwork Appraised?
Are you are an art collector planning to sell your art or give some of it away during your lifetime (or make bequests upon your death)? If so, you should investigate obtaining an appraisal from a qualified art appraiser. If you plan to sell the art, you want a high…
my Social Security: Have you created your online account?
my Social Security is a website managed by the Social Security Administration and allows users to create personal accounts, update address and contact information, track earnings, estimate future benefits and manage current benefits. Users may even order replacement medicare cards, order replacement SSA-1099 forms and state/change direct deposit. To create…
Plan Ahead to Keep your Small Business in the Family
According to a recent study, only 20% of small businesses remain in the family after death of the owner. Many small businesses are sold off after the owner’s death, with assets divided and distributed to beneficiaries named in the business owner’s Will. With some planning ahead, you can ensure that…
Starting a New Business in Texas?
Before you start a new business in Texas, there are several things to consider, including meeting with a CPA and attorney. First, determine your business structure. As we discussed in our last newsletter, the most common forms of business entities in Texas are: Sole Proprietorship, General Partnership, Limited Partnership, Limited…