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Does an LLC Operating Agreement need to be notarized?

Does an LLC Operating Agreement need to be notarized?

No.  At least in the normal course to have a valid LLC operating agreement, you are not required to have it notarized.  At least that is how it works in Utah and most other states of which I am aware. Remember that LLCs are creatures of applicable state law, so if you are forming a […]

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Estate tax to stay or go? Who cares?

Estate tax to stay or go?  Who cares?

As of this morning, the word out of Washington is that the Republicans in the House and the Senate have agreed on a deal for tax reform.  We should know more details in the coming days.  The fate of the estate tax is still among the unknown points, but many believe that the estate tax […]

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Should you get your own captive insurance company?

Should you get your own captive insurance company?

Captive insurance has been around for a while, but micro-captive insurance structures are more recent in their invention and application.  As with any other financial planning vehicle generally, and insurance product in particular, whether or not something is right in a certain circumstance greatly depends on said circumstance.  In other words, despite what a very […]

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Pharos Law Podcast–is a single member LLC required to have an operating agreement?

Pharos Law Podcast–is a single member LLC required to have an operating agreement?

No blog post gets more views than the one about whether a single member LLC is required to have an operating agreement.  CLICK HERE to access that blog post.  It’s a valid question, and one could reasonably conclude that a sole owner of a limited liability company should not be required to have his or […]

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Bitcoin: the basics

Bitcoin: the basics

You have probably heard the words “Bitcoin” and “Cryptocurrency.”  But if you are like most of us, you have at first felt a little curious, then tried to learn a little more about these things…only to eventually give up with a headache.  Let’s face it, these are complex matters well understood by few.  I recently […]

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Is my company required to issue paper stock certificates?

Is my company required to issue paper stock certificates?

No. There are electronic alternatives to paper stock certificates.   The first step is to determine what is written in the articles of incorporation, certificate of formation or other foundational documents of your company. If your business entity has been in existence for more than a year or two, it is almost certain that the relevant […]

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Tax reform bill passes Senate. One last hurdle remains

Tax reform bill passes Senate. One last hurdle remains

Early Saturday morning, the Senate Republicans pushed through their version of the tax reform bill by the closest of margins–i.e., a 51-49 vote.  Job done? Nope.  Now the Republican leaders from the House of Representatives and the Senate must get together to reconcile the differences between the bills each chamber of the legislature passed. Below […]

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Should you use an S-Corp for real estate rentals?

Should you use an S-Corp for real estate rentals?

Maybe. As with so many things, the correct answer depends on the circumstances. Owning real estate in an S Corporation is not a problem in and of itself.  The potential issues could arise when you transfer real estate out of the S Corp. Before we go any further, let’s first clarify tax and legal classification […]

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Protection of Law (Sir Thomas More quote from Man for All Seasons)

Protection of Law (Sir Thomas More quote from Man for All Seasons)

If you asked me to name my favorite movies of all time, A Man for All Seasons, based on the life of Sir Thomas More, would be at the top of my short list.  I don’t know how many times I have watched that movie–many times.  There are several timeless quotes in the show, but pasted […]

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