For the savvy entrepreneur, incorporating a business can be a great way to lower the tax bill, ensure the business lives on, and gain legitimacy as an established business. However, the number-one reason to incorporate or form an LLC (limited liability company) is to protect any personal assets from the liability of the business. Separating…

What is a Living Trust? A Living Trust is a vital component of an estate plan, and part of estate planning documents prepared for you while you are alive. In order for a Trust to work properly, you must transfer most of your assets to your living trust. Title to some assets cannot be transferred…

PRACTICAL BUSINESS ENTITY TIPS—DO YOU KEEP YOURSELF SAFE?  What do the terms “articles,” “meeting” “bylaws” and “minutes” mean? Articles of Incorporation The Articles of Incorporation is the primary legal document of a corporation; it serves as a corporation’s constitution. The articles are filed with the proper state government to begin corporate existence. The articles contain…

BOTTLED PROTECTION POINTS FOR YOUR BUSINESS Independent Contractor or Employee? Bottled Protection Points provide tips for the business owner to contemplate and, if applicable, implement into his or her everyday operation. The Protection Points span the three interwoven areas of Business Law–Asset Protection; Estate Planning Protection; and Employment Law–all important considerations for the knowledgeable entrepreneur. Many times employers improperly…

NEW YEAR GOALS FOR SMALL BUSINESS OWNERS GOALS: 1._____________________________________________________ 2._____________________________________________________ 3._____________________________________________________ Happy New Year and I hope 2014 has been off to phenomenal start for everyone of you! With each new year comes a new set of goals. As humans, we’re constantly aspiring to improve ourselves, whether it’s wanting to lose weight, exercise more, get…

Set up your business entity before year’s end and make sure you have the BEST ASSET PROTECTION available for your business and personal assets. Get organized and utilize business deductions to lower your taxable income. Having a good business attorney  and a good accountant on retainer, working hand in hand, are two steps you can take to be…

Most people understand that in the world of asset protection planning and estate protection planning, the contracts which encompass the plans in question are always in writing.  Everything you do to protect your business and personal estates involves the preparation of a contract, as does most of what you do with contractors, suppliers and even…

The limited liability company combines the limited liability advantage of a Corporation with the protection of your ownership interest.  Yet, there are essential reasons we should prefer a Limited Liability CO. (LLC) to either the Limited Partnership or even the Corporation: – As with an S corporation, you can avoid double taxation with a Limited…

Below is a brief recap of relevant estate planning guidelines. Please see an Estate Planning attorney at WFBLC, Inc. for a plan tailored to your particular business and family needs. Highlights of a bill Congress passed Tuesday aimed at averting wide tax increases and budget cuts scheduled to take effect with the New Year. The…

  Introducing…GAITE-way Business Solutions to the business community! WFB Legal Consulting, Inc. is proud to announce its affiliation with a new brand of professionals—all geared to building your business acumen. GAITE-way Business Services is a unique group of individuals, who provide startup and existing businesses with the ability to manage, grow and protect both their…

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