Choosing the best business entity structure post-TCJA

On the surface, the TCJA’s new, flat 21% income tax rate for C corporations may make choosing C corp structure for your business seem like a no-brainer. After all, 21% is much lower than the 37% top rate that applies to pass-through entities (such as partnerships and S corps). But C corps can still be…

A midyear review should go beyond financials

Now’s the perfect time for business owners to stop, take a breather and engage in a midyear review. Naturally, this will involve looking at your financials. But go beyond those numbers and look at areas such as: 1) HR, specifically, how’s employee turnover trending compared with last year? 2) Sales and marketing, for example, are…

Could a long-term deal ease your succession planning woes?

As some business owners begin to consider retirement, they just can’t identify a suitable successor. One potential solution is a long-term deal that gradually cedes control to an outside buyer. The process typically begins with the owner selling a minority stake, followed by a tryout period to assess compatibility. If all goes well, the minority…

Use the proper tools to fix a broken trust

A trust that works fine when it’s established may no longer achieve its original goals if your family circumstances or tax laws change. Or a drafting mistake may produce an undesirable result. One option is to modify the trust. This remedy may be available, through court proceedings, if unanticipated circumstances require changes in order to…