Most business owners know to keep their business assets separate from their personal assets. However, there are many small business owners that do not. This is a bad idea, both legally and logistically. If you have paid the money to an attorney or to the government to set up a business entity, whether a L.L.C.… Continue reading Commingling of Business & Personal Funds (And Why It Is A Bad Idea)
Many people do not know what an S-Corporation is, and how their business can take advantage of the taxes associated with such an entity. Let's go through this sometimes elusive business entitty today on Tulsa Estate Planning Blog. An S Corporation is defined by the Internal Revenue Service, and business entities that select this kind… Continue reading What is an S Corporation?
In the season of giving, clients often ask us about charitable giving and its tax implications. There are several options to those individuals with a generous heart. Charitable Foundation Trusts, or "private foundations" with Tax-Exempt status are expensive and time-consuming to create. Individuals with thousands of dollars to donate, however, would be wise to create… Continue reading The Season of Charitable Giving