There is a concept in estate and tax planning called Discount for Lack of Marketability. Basically, it says that assets in a company are not as valuable as assets owned directly by a person. This can save a family a ton of money in estate taxes if
An LLC tax election is the decision you make to determine how your LLC is taxed. An LLC is a unique business structure called a limited liability company, but the IRS Code has not given the LLC a unique taxation section. So how is the LLC to
“Quick Claim Deed” or “Quit Claim Deed”? Which one is it and how does it work? The term is not quick claim deed, but rather quit claim deed (even though using one is pretty quick). When you use a “quit” claim deed you are “quitting” or leaving
Business structure should be the fundamental consideration for asset protection and ease of administration when starting a business. Unfortunately many people miss this point when they start their business because it is not their primary interest “at the moment.” They don’t understand or care about the essential
