Entrepreneurs are energized with the idea of creating a new business. Those who take the plunge cite the flexibility of time, being their own boss, and having a greater sense of accomplishment as the top three reasons for making the career choice, according to a...
PLDO Law Blog
Month: May 2014
Even Successful Companies Should Keep their Options Open
Perhaps the current economy can best be described as slowly recovering. Economic cycles will always have peaks and valleys. During down times in the cycle, some companies will feel the stress more than others. Those that do maintain their vitality will do so through...
Options and Opportunities: A Summary Report for Managing Organics to Energy Technologies in Project Development
A comprehensive overview of national trends, legal issues and policy changes regarding the transformative shift occurring in the solid waste management industry banning commercial organics from landfills, is now accessible by logging on here. The publication describes...
HOW LIFE INSURANCE PROCEEDS COULD AFFECT A COMPANY’S VALUATION FOR ESTATE TAX PURPOSES
A recent case brought to light the impact that a stock-purchase agreement and life insurance proceeds may – or may not - have on the valuation of a closely held company for estate tax purposes. In this case that caused a split between the 8th and 11th Circuits, the...
HASTE MAKES WASTE . . . CASH THE CHECK.
One never knows what corner the grim reaper lies behind. A final illness can often accelerate quickly and deprive a donor of adequate time to complete gifts for tax purposes that he intended to make. In a recent federal court case, the Third Circuit Court of Appeals...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
WHY ESTATE PLANNING FOR BUSINESSES IS CRITICAL (NOT OPTIONAL)
Owning your own business can be extremely demanding. From your customers to your employees, there’s hardly enough time in the day. While most entrepreneurs are consumed by the day-to-day challenges of running their businesses, they often neglect the critical task of...
