THE ACCIDENTAL ENTREPRENEUR PART V video
THE ACCIDENTAL ENTREPRENEUR PART V Podcast
Landing a portfolio manager role at a top multi-strategy hedge fund can be a career-defining moment. It can also catapult your personal net worth into the stratosphere overnight. Rapid wealth creation comes with a new...more
As a restaurant owner in New York, you face complex financial and legal challenges that go beyond typical business risks. Along with operational responsibilities, you are personally exposed to employment-related claims,...more
For restaurant owners in New York, owning real estate can be a powerful asset—offering stability, long-term equity growth, and operational control. However, real estate ownership also exposes your business and personal wealth...more
Experienced trusts and estates attorneys consistently observe how proper planning can mean the difference between a thriving legacy and a fragmented enterprise. For family-owned life insurance businesses, the stakes are...more
The best plan is worthless if not properly executed. This article follows on from our earlier discussion on issues clients may need to consider before passing assets to their intended heirs. Here, we highlight some...more
With the looming elections, tax planners have taken time to consider what the future of Estate and Gift Tax planning might be under the new Congress. Every new Congress considers changes to the Internal Revenue Code of 1986,...more
If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more
As Trump era estate tax cuts are likely coming to an end in 2025, wealthy business owners are increasingly utilizing Family Limited Partnerships (FLPs) to significantly save the family taxes when they are gone....more
Combining family issues with business considerations is enough to stress even the most thoughtful and successful business owner. The good news is that there are ways to reduce the stress in family business succession. The...more
The Corporate Transparency Act (CTA) is going into effect on 1 January 2024 and will mandate the disclosure of certain information related to beneficial owners and controllers of most US domestic entities and certain non-US...more
As a family business owner, are you missing out on valuable estate and wealth transfer planning opportunities or jeopardizing your current plan altogether? Katten recently hosted a program that addressed common concerns,...more
Watch the full recording. What Is the CTA? The CTA (31 USC § 5336; 31 CFR 1010) is intended to strengthen the federal government’s anti-money laundering efforts by requiring many business entities to report information...more
Thaw out with McDermott’s Tax and Private Client teams during our first (of many) Boston Private Client Roundtables where attendees can reconnect with peers in the tax, private client and wealth advisory space in the city. We...more
It didn’t take very long for 2021 to bring about federal legislation that could significantly impact, or at least cause massive administrative headaches for, domestic and international private clients and their holding...more
The Accidental Entrepreneur Series Part V is a great idea for health reimbursement accounts for small business. ...more
Nowotny On Death and Taxes Podcast episode #27 is Part V in the series The Accidental Entrepreneur and covers using the ideal corporate structure for personal healthcare cost savings....more
We continue with Part V of The Accidental Entrepreneur. So far, I have not run out of planning ideas as to how and why the ideal corporate structure should be used by actual business owners or Accidental Entrepreneurs. The...more
During COVID, many of us are balancing working remotely while caring for our children. This autumn, most of our children are returning to part-time or all remote school. We are using our residences as a home, office, and...more
What a Mess- A “perfect storm” may be defined as a critical state of affairs arising from the convergence of a number of negative factors, often after the unexpected introduction of some catalytic event. The situation...more
If you are a high-net worth individual, 2020 may be the time to take advantage of the opportunity created under a confluence of low applicable federal rates, valuation opportunities, and the temporarily increased Unified...more
Nelson v. Commissioner is a recent gift tax case where the IRS challenged the value of the gift and sale of limited partnership interests to a trust created for the beneficial interest of the taxpayer’s family members. In...more
Blank Rome’s annual estate and tax planning newsletter addresses estate planning concepts and techniques that should be considered in 2019 by our clients and friends. 1. Transfer Taxes. The major changes made in 2010 in...more
Although every LLC, limited partnership or other pass-through entity doing business in Alabama, and even those simply organized under Alabama law, are subject to an annual business privilege tax (BPT), certain entities can...more
Family limited partnerships (“FLPs”) are a common estate planning technique. They permit centralized asset management, provide liability protection, and create a mechanism by which one generation can transfer wealth to the...more
Please join us for a webinar based on Steve Gorin's Second Quarter 2017 newsletter, Gorin's Business Succession Solutions. In this webinar the presenter will discuss that one can use debt to allow property to obtain a...more