Blog
Corporate Transparency Act
By: Justin PowellPosted: March 14, 2024 Introduction The Corporate Transparency Act is a new law which requires almost all small businesses to report certain information to the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the Department of the...
Non-Traditional Assets and Retirement Plans and IRAs
By: Michael P. Coyne, Esq. Assets in an Individual Retirement Account (“IRA”) or retirement plan that do not have a readily ascertainable value, which in this context means the asset is traded on an active market, can create serious problems. Internal Revenue Service...
Navigating the Perilous Waters of Company Loans: An Urgent Reminder for Business Owners
By: Michael P. Coyne, Esq. Recent high-profile tax fraud cases have shed light on intricate schemes designed to bypass federal income taxes through the misuse of loans to business owners. In one instance, medical practitioners drained profit from licensed practices...
Updating LLC Operating Agreements
By: Justin T. Powell, Esq. As a business owner of a limited liability company, your operating agreement is one of the most important legal documents you have. It outlines how your business is run, how decisions are made, and what happens if there are any disputes or...
Reviewing Your Trust: Don’t Forget to Fund It
By: Rachel A. Maver, Esq. A trust is a commonly used estate planning tool that allows property to pass outside of probate to beneficiaries at times and in amounts as the grantor desires. However, execution of a trust agreement alone will not keep assets outside the...