Family Limited Partnership (FLP) or Limited Liability Company (FLLC) A properly formed and maintained FLP or FLLC can facilitate the transfer of your business to the next generation, protect assets from potential creditors, and minimize income, gift, and estate taxes. An FLP [more...]
A nonqualified deferred compensation (NQDC) plan is an arrangement between an employer and one or more employees to defer the receipt of currently earned compensation. You might want to establish a NQDC plan to provide your employees with benefits in addition to [more...]
Retirement Plans for Small Businesses If you’re self-employed or own a small business and you haven’t established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. And you’ll be [more...]
Transferring Your Family Business Perhaps you have children or other family members who wish to continue the business after your death. Obviously, you’ll want to transfer your business to your successors at its full value. However, with income, gift, and potential estate [more...]
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Business Succession Planning The key is to pick the best plan for your circumstances and objectives, and to seek help from financial and legal advisors to carry out this plan. Common business succession planning objectives Ensure smooth, seamless transfer of ownership Transfer [more...]
