New Year’s Resolutions for Business Owners
As the New Year is here, many of us spend time creating a list of personal resolutions that often times look like the same list we prepared last year! New diets, gym memberships often top the list. As a business owner it’s a good time… Read More
Branch Transactions – New Aggregation Election
Do you have a business that has a branch in a foreign country? If so, new regulations will dictate how you determine your taxable income. Many businesses have a branch in a foreign country. This may include conducting business in the foreign country through an… Read More
2017 New Year Business Succession Resolutions
How are your New Year’s resolutions coming along? If you own a business and one of your resolutions was to review your will and other estate planning documents, failure to keep this resolution can have a much more negative impact than not losing the ten… Read More
Selling Your Legal Practice in PA just Got Easier
Effective this week, a change in the Pennsylvania Rules of Professional Conduct will have a major effect on succession planning for lawyers. Under the old rule, an attorney who wanted to sell his or her practice was required to sell the entire law practice to… Read More
Is your buy-sell agreement up to date?
Over the years I have heard many business lawyers (myself included), tell clients that there are certain agreements that once signed, can be placed in a drawer and do not need to be reviewed until the particular event that is the subject of the agreement… Read More
Stay in LLC Structure and Go Public Using an UP-C Structure
In the “old days” if your business was in an LLC classified for tax purposes as a partnership and you thought you wanted to take your company public, you were told by the investment bankers to convert your LLC to a corporation. Many new businesses… Read More
Treating the Children who are Involved in the Business and those who are not, Equally
Your business is thriving. You have a strong management team to whom you can delegate decisions you had been making yourself for years. You take off every Thursday to play golf or to watch your grandchildren. You are thinking about taking off more time… Read More
Is your business succession plan and the Phillies’ succession plan the same?
It’s Baseball Season again. For those of us who are Phillies fans, we are witnessing the end of an era, with the transition of World Series winning players to the next generation of Phillies. Do the Phillies have a succession plan in place for the… Read More
Why A Handshake Agreement Among Business Partners Is Not Worth The Paper It Is Written On
You go into business with your sister, your father, your college roommate or your best friend. The classic “we-started-in-the-garage” business. You struggle at the beginning – you do whatever you can to minimize overhead. Lawyers are expensive so you decide not to put anything in… Read More