Monthly Archives: September 2014
These wonderfully unique documents, called “Powers of Attorney,” are incredibly versatile, and yet are sometimes misunderstood as a viable substitute for a living trust. In this show, Bill and Rick explore the types of Powers of Attorney, their specific usage, how you go about securing this power, and what you should be cautious of when obtaining a Power of Attorney. A Power of Attorney can be utilized in many pure business, estate and asset protection case scenarios alike.
In this show, we thought it would be useful to discuss some of the principle reasons why new businesses struggle when attempting to establish themselves in a competitive marketplace. Consequently, we explore basic foundational requirements to keep a new business healthy going forward, from a legal, marketing, and yes, even a common sense standpoint. There are specific reasons why startup businesses fail.
As a consequence of requests resulting from a past show referencing trust asset protection principles, this show’s focus is linked to beneficiaries of a trust and the creditor protection they are afforded under certain circumstances. While we advocate sound, advanced planning and working off of a solid financial foundation, sometimes problems just can’t be avoided, even under the most thoughtful case scenario.
Bill and Rick discuss the importance of accounting principles with guest Sharon Masler of the accounting firm of Masler & Associates, and why having an accountant on your small business team is so critically important. Ms. Masler will speak to issues that run the gamut from basic tax advantage awareness, which small and large business owners need to be aware of, to her firm’s ability to represent business owners in an IRS tax audit and what should and should not be done if you receive notice of an audit. This is a unique opportunity for business owners and entrepreneurs to access tax strategies that command their full attention in an effort to take advantage of legitimate tax deductions and future tax planning for their businesses.
Appearances are not always what they seem. In this show, Bill and Rick discuss the various factors that go into the mix when ascertaining the true classification of an individual as an employee vs. an independent contractor. While we might normally think its either a verbal or contractual agreement that determines status, when challenged by one of the party’s, there are several measuring sticks courts will look at in order to determine the true intent of the parties. Its not as simple as merely issuing a 1099 or W-2. If you are in need of help in your business, and you are thinking about engaging someone’s assistance, this show will explore the information you’ll need to determine the direction and understanding required to ensure both the status of that individual as well as your obligations to him/her, as either an employee or independent contractor.