The legal marijuana industry is booming and there’s lots of money to be made. But if you are thinking about selling marijuana, you need to be aware of the complex federal income-tax issues you’ll face. That’s where the Tax Reduction Letter comes in. We’ll explain proven strategies that can reduce your tax bill and keep your profits from going up in smoke. Practical, … [Read more...]
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Co-owner buyers need a buy-sell agreement!
Buying a business with co-owners? Then you need to set up a buy-sell agreement. And fast. Why? Because a well drafted agreement can… Transform your business ownership interest into a more liquid asset Prevent unwanted ownership changes Save taxes and avoid hassles with the IRS If you want to find out how buy-sell agreements work and how they can keep you out … [Read more...]
Should you accept Bitcoin as payment?
There’s a lot of talk these days about Bitcoin. Which is not surprising. You see, more and more businesses are using this virtual currency as a store of value and a medium of exchange. Should you start letting people pay you with Bitcoin instead of greenbacks? Well, it’s certainly worth considering. But before you make a move, you should get all the facts. That’s why … [Read more...]
Buying a business? Due diligence is critical
Buying a new business can be extremely risky. That’s why, before you sign on the dotted line, you should conduct an in-depth due diligence review. Whether you’re going to arrange for an asset purchase or an ownership interest purchase, a careful due diligence review can help you avoid exposure to liabilities, known and unknown. Want to avoid after-the-purchase … [Read more...]
Here’s what every LLC owner needs!
Your LLC provides you with two important benefits: Limited liability Favorable tax treatment But be aware that your state’s LLC default rules and regulations govern your business as well as your members’ rights and responsibilities. Sometimes these rules are onerous, but don’t lose heart. Luckily, your state’s default rules can be overridden by an operating … [Read more...]