The new year is a great time to consider forming a business… and go skiing Each new year brings reflection. As a business owner or prospective business owner, you will think about the successes and lessons of the past year or reflect upon why you want to start a business. Hopefully you will continue any [..]
Category: John Kenney
On a normal day, you would never think about issues that could jeopardize the health of your business. Issues such as liability are never fun to consider. The drawback of not doing so however can be greatly damaging in multiple ways.
What will happen to your loved ones, your beneficiaries, when you have passed away? How will they manage their inheritance? Often times, leaving behind a large sum of money to someone without money management skills can be disastrous. A revocable living trust will afford you the ability to make things easier on your survivors, including [..]
We often hear business owners, especially small businesses, ask “what is an independent contractor?” This is an excellent question as it can have far-reaching tax implications. A wrong classification can lead to rather severe tax penalties. One thing to remember is that
Many people have questions when it comes to estate planning. The most important of these happens to be the most straight forward: what IS estate planning and is it a must? Individuals who are considering beginning the estate planning process typically have several questions including: What’s the reason for preparing a will or trust? Is a living trust necessary? What [..]
There’s nothing at all like the death of a celebrity to bring home the reality that there is an end to life for us all. This is especially so when the death is abrupt and completely unexpected. It could be a favorite actor, an athlete, or even a much adored singer such as Prince. When [..]
As the recent recession ended and a new real estate growth period started, many real estate purchases in recent years were investor or second-home buyer purchases — an indicator of the growing popularity of real estate investing as a wealth-building strategy. Understanding the basic principles of asset protection — tools and techniques used to legally [..]
Have you gone into business for yourself only to find that some of the rules and regulations are less than straightforward? Here’s a list of seven common mistakes that we see business owners, new and seasoned, make on a regular basis… FAILING TO DO BUSINESS WITH A PROPERLY STRUCTURED LEGAL ENTITY. A sole proprietorship is [..]
Medicaid planning draws many attorneys, financial advisors, and others who market strategies and documents which purport to protect your wealth from the government should you ever need government assistance to provide nursing home or long term care for you (and your spouse if you are married).
I heard that my family will get my property and my children anyway if I die without a will. If you die without an estate plan the state has a plan for you. The state has a law that says who will get all of your property upon your death. Even if you are married, [..]