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Considerations for Hiring Your Child as an Employee

By Michael Janniere | September 27, 2021

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 other employees. There are also potential tax savings for the child employee, who can set aside that money for college or retirement. If you are …

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Using Long-Term Care Riders in Estate Planning

By Michael Janniere | September 13, 2021

Shawn Britt, CLU, CLTCDirector, Long-term Care Initiatives, Advanced Consulting GroupNationwide® Long term care (LTC) planning has been one of the hottest topics in the financial services industry, andwill continue to be so as the population of the United States continues to age. It is estimated that peoplereaching age 65 will have a 70% chance of …

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Common Pitfalls in Family-Owned Businesses

By Michael Janniere | September 6, 2021

Your family and your business are two of your top priorities. You would not do anything to compromise either of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both if not properly managed.  Family-owned businesses are capable of the same success as any other …

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How to Protect Your Business from Lawsuits

By Michael Janniere | August 30, 2021

Small business owners are no strangers to risk management. Owning and operating a small business entails a certain level of unpredictability. Despite your best efforts to stay on top of supply chains, marketing, sales, competitors, employees, and cash flow, unexpected issues can knock you for a loop. You have survived plenty of bumps in the …

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Business Trusts 101: What Entrepreneurs Should Know about Using a Business Trust

By Michael Janniere | August 23, 2021

Trusts are usually associated with estate planning, but trusts can also apply to business operations. As a small business owner, you can hold the business in a trust instead of using a business entity such as a limited liability company (LLC) or corporation. Business trusts offer several potential benefits—and drawbacks—compared to a traditional business structure. …

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What Happens to Your Business When You Die

By Michael Janniere | August 16, 2021

You spend a significant part of your life building your business, and it becomes a major part of your legacy. But when you die, everything you have built could fall apart if you have not taken the time to create a business succession plan. Without a plan in place, your business’s fate may be decided …

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What You Need to Know about ADA Website Compliance

By Michael Janniere | August 9, 2021

The Americans with Disabilities Act (ADA) requires businesses to accommodate people with physical and cognitive impairments. While the ADA, which applies to “places of public accommodation,” was designed with physical spaces in mind, the proliferation of online services means that digital spaces must also comply with the ADA. Accordingly, websites and mobile apps must be …

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How to Remove a Member of an LLC

By Michael Janniere | July 19, 2021

As a business grows, its ownership structure may change and an owner may need to be removed. Removing an owner of a limited liability company (also known as a member) may become necessary if a member retires, dies, changes career, commits a breach of conduct, or has a dispute with other LLC members. When members …

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With New Tax Changes, Time to Revisit Your Estate Plan.

By Michael Janniere | August 24, 2018

On Dec. 22, 2017, the Tax Cuts and Jobs Act (the Act) was signed into law. It is the most sweeping federal tax legislation in decades and significantly changes the landscape of individual, corporate, partnership, international, and trust and estate taxation. In general, the changes made by the Act took effect as of Jan. 1, …

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The Intersection Between Estate Planning and Divorce

By Michael Janniere | August 24, 2018

Most people think of estate planning as something that, once done and in place, never has to be thought about again. That is far from the truth. Estate plans should be modified to reflect changes in financial and familial circumstances, for example when clients receive an inheritance, have children, or get married or divorced. Estate …

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