Small Business

3 Most Common Issues in Joint Ventures

Many assume a joint venture ensures automatic success. Two companies teaming up to leverage complementary skills and assets in order to tackle strategic needs looks like a recipe for productive work. However, many joint ventures are far from perfect and failure does occur.

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How Does the Tax Cuts and Jobs Act Affect My Choice of Entity?

The Tax Cuts and Jobs Act that was signed at the end of last year ushered in many sweeping changes to the US tax code. Pretty much every taxpayer has been affected by the new legislation, and many businesses have been curious about how new tax rates and other stipulations will affect their operations. If you find yourself questioning whether you have the most advantageous business structure, you may benefit from talking with a Fort Worth small business lawyer.
One of the biggest questions for business owners after the new tax legislation concerns choice of entity. Many businesses choose to operate as a pass-through entity in order to utilize the capital gain tax rate if it comes time to sell assets down the road and to prevent double taxation.

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Everyone is scrambling to figure out how the Tax Cuts and Jobs Act (TCJA) will affect the amount of taxes they have to pay. The sweeping changes impact not only personal income tax, but also businesses. In addition to getting rid of the corporate alternative minimum tax (AMT), lowering the corporate income tax and giving a deduction to people who own pass-through entities, the Act did away with a lot of tax breaks, and many of the changes only last a few years.

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Do you know what will happen to your company once you are gone? Unlike corporations, which are typically owned by stockholders, small businesses must plan for what happens after the owner or owners retires or passes away. These small businesses, typically organized as sole proprietorships, partnerships, or limited liability companies, must decide how their business succession plans fit into their overall estate planning. Then, after consultation with a knowledgeable s
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Also referred to as an “enhanced life estate deed,” the lady bird deed is a useful estate planning tool that allows for the automatic transfer of property to a designated beneficiary upon death. It also has the added benefit of allowing you to retain full ownership rights of the property during your lifetime. It is very similar to the traditional life estate deed, but the added benefit is that you, as the property owner, can still sell, mortgage, or make other property related transactions without seeking the approval from the “remainderman” or “remainder beneficiaries.
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If you are thinking about starting your own business, you know that there are a lot of decisions to make. The first of which is what type of business structure you should have. Many small businesses consider becoming Subchapter S Corporations and for good reasons. This type of corporate structure can separate your personal assets from business liabilities, thus allowing you to protect your personal property. Additionally, an S corporation is not subject to the income taxes the Internal Revenue Service applies against C corporations.

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