Legal Considerations for Farm Owners
Farming brings to mind kinship with nature and a simpler way of life. But the farming industry is highly regulated, and navigating the applicable laws and regulations can be far …
Can a Trust Own My Business After I Die?
In general, the answer to the title question is yes, your trust can own your business after you die. However, there are a number of considerations that may impact the …
Three Things You Need to Know About Cryptocurrency and Your Estate Plan
Cryptocurrency’s popularity has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate …
Are Family Limited Partnerships Under Attack?
A popular estate planning tool that has long been used effectively may be facing new challenges under the current administration in Washington, DC. The family limited partnership (FLP) is an …
Marital Disclaimers and the Clayton Election: Last-Minute Estate Tax Planning
Deferring, minimizing, or avoiding estate taxes altogether is often an important estate planning goal for married couples. However, uncertainty surrounding what the estate tax laws and the value of their …
Changes to the FAFSA Form and What It Means for Grandparents
For grandparents who want to leave a legacy to their grandchildren, the gift of a 529 college savings plan is an option. Not only can opening a 529 plan account …
Considerations for Hiring Your Child as an Employee
Hiring your child to work in the family business can be a win-win situation for both you and your child. A child employee offers you tax advantages not available with …
Complying with Estimated Quarterly Taxes
Tax day is one of the most important—and one of the most dreaded—days on the calendar for working Americans. Although April 15 is usually the date that federal taxes are …
Most Common Tax Deductions for Small Businesses
There are many expenses incurred in starting, running, and growing a business. Luckily for business owners, many of these expenses can be deducted. Knowing which expenses you can deduct helps …
Hobby or Business: What Factors Does the IRS Consider?
There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on …