So is umbrella insurance inherently bad, a scam or worthless. No. But, is it for everyone? Another absolutely not! But heaven forbid insurance companies let anyone else say otherwise.
Since an LLC or Corporation is not an individual, it cannot have process served on it unless someone is appointed to serve as an ‘agent’ for the company. All 50 states require that such a person be appointed- This person is the Registered Agent.
Tax laws have changed even for RV owners. However, you can still potentially save state income taxes by changing your domicile, writing off the RV as a business expense, or even save money by cutting the cost of traditional home ownership.
Wouldn’t it be nice if you could get a little help from Uncle Sam as well as a tax write-off for some of that pet food, vet bills, or even that big price tag at the breeder? Well, there might just be an option to save some taxes in the process.
The IRS is stepping up its audits on those with workers in their private homes. Make sure you are up to speed on the rules that apply to you AND your help.
I often times get asked the question regarding the ability to write-off clothing and and laundry expenses.
Please realize that you actually may have a unique situation and there isn’t a one-size fit’s all approach or answer to a every new business situation. You will most certainly have a set of facts that are different from friend’s, mine or anybody else.
With the difficulties that have arisen in the lending market and a typical buyer’s ability to obtain a standard loan, many sellers have decided to “carry their own paper”. For those unfamiliar with such a term, we are talking about Seller Financing where you play ‘bank’ and now you have the precarious reporting requirements with
Many small business owners who operate under a corporation or LLC have heard of the term “piercing the corporate veil,” but very few have a complete understanding of its meaning and implications. We set up entities for ‘protection’, but that protection is not automatic. We have to protect the corporate veil and maintain the company
Now I want to discuss the liability created by our personal actions that could threaten our business or assets. I call this “Outside Liability”- Exposure created outside our business that could allow a creditor to take our business from us.
Thousands of business owners get taken advantage of each year with high priced asset protection plans that don’t come close to providing the protection they were promised.
Like many of us, you’ve probably dreamed of turning your favorite pastime into a regular business. What better way to be passionate about your business and make money at the same time.
