25Nov

The Irrevocable Life Insurance Trust

Author: A. O. Headman An irrevocable life insurance trust, or ILIT, is a trust that a person creates to exclude insurance proceeds from that person’s taxable estate. Insurance proceeds are not subject to income tax, but if at your death you hold any “incidents of ownership” over an insurance policy on your life, the insurance proceeds […]
23Nov

Limited Liability Companies and the Qualified Income Offset

Author: A. O. Headman Limited liability companies (“LLC’s”) are now the most popular legal entities choice for most small businesses. They are formed in every state for business operations, estate planning, asset protection, property ownership, asset management, and for many other purposes. LLC’s are formed by sole proprietors, by families, by investment groups and by business […]
22Nov

Is Our Promissory Note A Security?

Author: A. O. Headman Most small businesses need capital in order to (i) start operations, (ii) keep operating until the business generates positive cash flow, (iii) expand operations, (iv) buy new equipment, or (v) buy out a departing owner. The capital needed by a business may be provided in the form of equity (an ownership interest […]
21Nov

Donor Advised Funds

Author: A. O. Headman Many small business owners and other individuals are active supporters of a wide variety of charities including religious organizations, educational institutions including universities and colleges, organizations relating to the arts and many others. There are various giving opportunities and giving structures available to the person making the charitable gift (the “Donor”). A […]
20Nov

Exchange Traded Funds (ETFs) Investing

Author: A. O. Headman These Seven Insights Can Help You Avoid Costly Mistakes In the last decade, the breadth of ETF offerings has increased exponentially. ETF offerings now include hard to access asset classes such as Master Limited Partnerships, leveraged vehicles which provide double (or triple) the exposure to popular market indices and access to tightly […]
19Nov

LCC and Self-Employment Tax Update

Author: A. O. Headman Many small businesses are choosing to operate as limited liability companies. LLC’s may, in fact, be the most popular type of business entity for small businesses compared to general partnerships, limited partnerships and corporations. Under federal tax law, an LLC can be taxed as: * a disregard entity if it is owned […]

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