A large part of business sucession planning is structuring the transfer of business ownership. While outright transfers can be less complex, transferring ownership in trust can provide practical benefits that are worth...more
6/30/2025
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Estate Planning ,
Family Businesses ,
Fiduciary Duty ,
Grantor Trusts ,
Risk Management ,
S-Corporation ,
Shareholders ,
Tax Planning ,
Trusts
The nationwide injunction against enforcement of the Corporate Transparency Act (“CTA”) and its beneficial ownership information (“BOI”) reporting rule under 31 CFR 1010.380 (the “Rule”) has been stayed pending appeal, and...more
12/24/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Transparency Act ,
Disclosure Requirements ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Injunctions ,
Preliminary Injunctions ,
Reporting Requirements ,
Smaller Reporting Companies ,
Stays ,
Time Extensions
All U.S. closely held businesses just received a warning from the highest court in the land that they should review their succession plans (or else risk a higher tax bill for the estates of their owners). On June 6, 2024, the...more
6/17/2024
/ Business Ownership ,
Business Succession ,
Buy-Sell Agreements ,
Closely Held Businesses ,
Connelly v United States ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
IRS ,
Life Insurance ,
Redemption Agreement ,
SCOTUS ,
Shareholders ,
Small Business ,
Survivorship
Before forming any entity, founders need to make two fundamental decisions: which entity type is best for their business operations and which tax classification is best for the owners. Although the entity type and tax...more
6/12/2024
/ Business Entities ,
Business Formation ,
Business Operations ,
Business Ownership ,
Business Taxes ,
Classification ,
Corporate Entities ,
Corporate Taxes ,
Filing Requirements ,
Incorporation ,
Regulatory Requirements