Year: 2016

Single Member LLC–what, why and when?

December 30, 2016

What is a single member LLC and why would you want one? We have previously written a fair amount on LLCs generally, including what they are and why they can be useful legal entities. This post will focus on single member limited liability companies. As the name indicates, a single member LLC has one owner–and […]

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lenders and LLCs–rental property stuff

December 19, 2016

It is usually a good idea to own rental property through an LLC. As the name suggests, an LLC is designed to limit liability. Think of a limited liability company as a legal liability firewall vehicle. In other words, if some sort of legal claim arose from the operating of your rental property (say a […]

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The Special Needs Fairness Act is a welcomed change!

December 12, 2016

Before this new law, there was a mistaken legal presumption law that disabled persons always lacked mental capacity to manage their own affairs. While this is true in some cases, it is certainly not true in all situations. This new law is an excellent change in favor of the rights of disabled individuals. The US […]

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How long should you keep your tax records? IRS issues updated guidance

December 7, 2016

One of the “small talk” questions which I receive often is this very question: namely, how long are you and I required to keep copies of our tax returns and related records? Yesterday, the IRS issued a statement which generally seems consistent with past practices (at least according to my understanding), with perhaps a […]

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Its conversational, but not really controversial–Clinton wins popular vote but not presidency

November 11, 2016

This is exactly what the Founding Fathers intended. Relax people. We are witnessing the smooth operation of our Constitutional form of government. New York Times, CNN, LA Times and other big media outlets are going crazy with stories about how Hillary Clinton will likely win the popular election, but lose the presidency. How can this […]

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The value of knowledge and experience in all areas of life

September 8, 2016

Do you and I appreciate the importance of experience and expertise? In this internet age, it is quite easy for us to believe that Google can make us an expert on just about anything. While I am as much a fan of Google and other internet resources as the next person, I see quite often the […]

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Buy-Sell Agreements: Mistakes to Avoid (Part 2)

August 27, 2016

A buy-sell agreement can provide essential protections for business owners. Don’t take my word for it, listen to the contributing writers at Forbes.com. Though this article is not new, the applicability of the February 2011 article by Robert W. Wood, titled “In Business, Get a Buy-Sell Agreement!” has not changed. You can click here to […]

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Business Buy-Sell Agreements: Mistakes to Avoid (Part 1)

August 22, 2016

If you are the owner of a family business or other closely held business, not having a buy-sell agreement may be a big mistake. Let’s get this out-of-the-way: I am a business law attorney who gets paid to work on things like buy-sell agreements. Therefore, it is no surprise that I am talking about why you […]

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The similarities between knives and powers of attorney

August 11, 2016

Are knifes dangerous or useful instruments? That depends on how they used and for what purpose (and by whom). Most of us would not see a typical kitchen knife and immediately have feelings of panic and fear.  We understand that kitchen work often requires the use of knives.  And it is difficult in most instances to prepare […]

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lane closed ahead–what our driving may say about us

July 13, 2016

How you drive probably says a lot about you in many other aspects of your life. I spend a lot of time on I-15 driving to and from Salt Lake City.  I therefore get the chance to observe many drivers on a regular basis.  Yesterday was another such opportunity and while waiting in a long […]

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