Good (and Bad) S Corp Tax Saving Strategies

S Corp Tax Saving Strategies: Smart Planning and Words of Warning Small business owners operate on slim margins, so it’s only natural to look for ways to save money. If you’re an owner of an LLC, you could reduce the amount of taxes you owe by electing to become an S Corporation (S Corp), a popular business structure that couples …

how to make your first million

How to Make Your First Million Dollars in 10 Easy Steps

What do millionaires have in common? It isn’t six-figure salaries, trust funds, or their bank balances—it’s the rules they follow to meet their goals. The truth about how to make your first million is surprisingly simple: save early, invest wisely, avoid debt, and keep track of every dollar you spend. No matter where you’re starting, a disciplined strategy significantly increases …

Florida estate planning checklist

Florida Estate Planning Checklist in 10 Easy Steps

Florida Estate Planning Checklist: 10 Ways to Get Your Affairs in Order Estate planning is vital to ensuring your property is distributed according to your wishes after passing away. Each state has specific considerations and laws that come into play when crafting an effective estate plan.  Our Florida estate planning checklist aims to guide you through the key steps to …

tax planning strategies for corporations

Beware of Bogus Tax Planning Strategies for Corporations

Not Quite a Scam: How Businesses Lose Money on Tax Planning Strategies for Corporations There’s no shortage of opinions on how businesses can avoid paying taxes. From social media influencers to your neighbor down the street, plenty of people are willing to put in their two cents about how you can take advantage of tax laws. Unfortunately, the quality of …

Trouble with IRS

Augusta Rule Violation Lands S-Corp in Trouble with IRS

Tax advice from social media influencers can have some BAD outcomes. For a few months now, we’ve seen people who are neither attorneys nor accountants recommending that business owners start renting out their homes to take advantage of the Augusta Rule. Sounds great, right? Who doesn’t love tax-free income? As you might guess – details (and documents) matter. According to …

most common estate planning mistakes

5 Estate Planning Mistakes and How to Fix Them

You’re ready to build an estate plan that gives you peace of mind and ensures a healthy financial future for your loved ones. Before you can take control of your future, you’ll need to know the pitfalls lurking in these essential documents, ready to undermine your wishes and diminish your legacy.  Our legal team has prepared this list of estate planning …

firearm prohibited person

Persons Prohibited from Possessing Firearms in Florida

Is the Trustee of Your Florida Firearms Trust a Prohibited Person? Florida gun trusts offer a simple and private way to transfer your Title II firearms to new owners. However, you must choose carefully when appointing someone to act as trustee to your revocable living trust. Your trustee must not only be a responsible party; they must be legally able to …

save for a child’s college education

Best Ways to Pay for a Child’s College Fees in Florida

If you have created your Will or Trust as part of your estate plan, you’ve already taken a big step toward the financial well-being of your family members. However, you could go further by planning for specific future expenditures, such as paying for your children (or grandchildren) to get the best possible education.  While you could earmark a portion of your …

Estate Planning for Small Business Owners

5 Estate Planning Tools for Small Business Owners

If you’re a small business owner, estate planning might be the last thing on your mind. The day-to-day running of the company is likely filled with payroll concerns, marketing metrics, and attracting the right kind of talent to boost your growth. Unfortunately, many small business owners who put off estate planning don’t realize that they’re putting everything they’ve worked for …

5 Ways to Use AI Tools for Startup Businesses

5 Ways AI Tools Can Transform Your Startup or Small Business

Whether you welcome new technology, fear our new robot overlords, or don’t know what to think about AI integration, there’s no denying that 2023 is fast becoming the year of artificial intelligence. The rise of programs like Grammarly© and ChatGPT© using natural language processing to provide nearly-human responses is taking the world by storm.  As a savvy entrepreneur, you’re probably asking, …