No matter how successful a business is, one wrong move and an owner’s hard work comes tumbling down. This is why a business owner must ensure that the company is in the best hands, even if they are no longer in the picture. Succession planning benefits organizations,...
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Sole proprietorship versus limited liability company
One of the first things you’ll have to decide when you’re opening a business is what type of legal structure it will have. Many small businesses are set up as sole proprietorships or limited liability companies. There are some very important distinctions between these...
Is it enough to be a sole proprietor?
One kind of business entity that many small businesses start out as is a sole proprietorship. This business structure is the easiest business entity to set up, but it does not offer you the protection that you would get with some other business forms. If this is your...
How should you plan for estate taxes?
The estate planning process in California presents you with several opportunities to preserve assets to pass on to beneficiaries. This includes setting up a trust to avoid probate or putting plans in place to settle debts prior to your death. You may think, however,...