The Motley Fool

MAY 3, 2024

When you are officially ready to launch your small business, it's important to make it "official" by forming a legal entity for your business. This can include forming a limited liability company (LLC) or incorporating your business as an S Corporation or C Corporation.

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The Motley Fool

JANUARY 22, 2024

Image source: Getty Images Small business owners have to deal with a few different types of legal compliance and document filing requirements throughout the year. But along with forming an LLC, filing annual reports for a corporation, or filing business tax returns, now there's a new one called "BOI."

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The Motley Fool

OCTOBER 16, 2023

You can get more flexibility in how you are taxed on your income as a corporation, protect yourself against liability, and more easily transfer ownership. You are not required to hire a lawyer There is no requirement that you hire legal help to assist you with the incorporation process. Here's what you need to know.

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Zajac Group

OCTOBER 17, 2024

For most people, tax time can be a headache—though for earners with traditional compensation packages, it can at least be fairly predictable (W-2 wages, withheld taxes, 401(k) contribution deductions, etc.). Each taxpayer receives a copy of their K-1, which they then use to complete their own tax return.

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The Motley Fool

JUNE 22, 2024

The phrase "trust fund" might conjure images of a spoiled teenager, but trusts are powerful legal documents that many people should consider when estate planning. Essentially, an irrevocable trust allows the grantor to still use their assets, while legally making them the property of the trust.

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The Motley Fool

APRIL 18, 2024

Anyone who owns a small business with a legal entity, like a limited liability corporation (LLC) should pay attention to this new rule. Just like filing taxes, if you don't do it, the consequences are severe. This is much easier than filing taxes ! You cannot afford to miss this deadline. Fortunately, it's fast and easy.

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The Motley Fool

OCTOBER 8, 2023

Every business should have liability insurance in case it is sued. Professional help for accounting or legal issues Companies can face a host of legal and accounting issues that must be addressed. Companies also may have complex tax rules to comply with, including tax rules related to sales tax and employee taxes.

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The Motley Fool

MAY 23, 2024

But she didn't have auto insurance, even though it's a legal requirement in our state. To this day, he still gets a portion of her tax refund, though most payments don't amount to much. drivers don't have car insurance, even though nearly every state requires it to drive legally.

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The Motley Fool

JULY 13, 2024

They take full advantage of an employer's life or disability insurance accounts, health savings accounts (HSA), and even employer legal services. They take advantage of tax deductions Millionaires have learned that minimizing their tax liability is an overall strategy for protecting their personal finances.

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Ballast Advisors

SEPTEMBER 5, 2024

Navigating the complexities of estate planning can often feel like charting through uncharted waters, especially when it comes to handling assets, taxes, and ensuring one’s legacy is preserved according to their wishes. Inheritance Tax Planning Inheritance taxes, including estate and gift taxes, are pivotal in estate planning discussions.

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The Motley Fool

JULY 6, 2024

Step 2: Establish your legal framework (Cost: $0 - $20) Think about what type of business structure will work best for you. Unlike a sole proprietorship, an LLC draws a legal line between you and your business. This separation not only protects your personal assets from business liabilities, but can also offer potential tax benefits.

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The Motley Fool

MAY 5, 2024

Image source: The Motley Fool/Upsplash The end of tax season is a good time to reflect on the value of professional tax help, especially for small business owners. I don't know why any small business owner would want to go through the hassle and stress of doing your own taxes.

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The Motley Fool

MAY 8, 2024

Form an LLC or other legal business entity There's no one right answer to the question of when you should form an LLC for a side hustle. But if you're starting to make serious money from your side hustle, forming a limited liability company (LLC) or other legal business entity could be a good move.

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Zajac Group

NOVEMBER 7, 2024

One of the most important aspects of developing a thorough estate plan is tax planning, as this has the potential to diminish the impact of your gifts and your loved ones’ inheritances. Let’s take a look at the tax impact and other considerations of each. million before triggering federal estate taxes).

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The Motley Fool

SEPTEMBER 9, 2023

That means the business itself does not pay taxes. C-corporations, on the other hand, do pay business taxes and owners pay taxes when profits are distributed so you risk double taxes (but you do get more flexibility in terms of who can own the company). You have tax flexibility. Taxes can be higher.

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The Motley Fool

AUGUST 6, 2023

Otherwise, you will be unable to rent out your investment property legally, leading to fines and potential legal action. Some require a home-sharing permit, some a tourist license, and others require you to pay a hotel tax and carry liability insurance.

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Fortune Financial

JULY 28, 2022

When you transfer most assets to a taxable account, there will be income tax, but with company stock, you can take advantage of net unrealized appreciation (NUA). . However, the tax deferral benefit comes at a cost tradeoff. Almost every dollar distributed from a pretax retirement account will be taxed at ordinary income tax rates.

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The Motley Fool

MAY 8, 2024

Forming an LLC or other legal business entity If you want to make your business "official" in the eyes of the law, you need to form a limited liability company (LLC), S Corporation, or other legal business entity. It lets you get an Employer ID Number (tax identification number, like a Social Security number for your business).

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The Motley Fool

AUGUST 1, 2024

Our LTC segment reported an adjusted operating loss of $29 million in the second quarter, driven by a liability remeasurement loss. Life Insurance companies had a very strong quarter with pre-tax income estimated at $171 million, driven primarily by benefits from LTC rate force actions. On the statutory accounting basis, the U.S.

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The Motley Fool

APRIL 11, 2024

For example, limited liability companies (LLCs) and S-corporations both provide protection from liability, and an S-corp gives you more flexibility with your taxes. Maintaining corporate formalities means you actually treat your business like a separate legal entity. And that means it needs its own bank account.

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The Motley Fool

NOVEMBER 7, 2024

life insurance companies reported an estimated pre-tax loss of $18 million, driven by unfavorable mortality and higher new claims, as well as lower benefit from legal settlements. For the full year, we continue to expect the liability remeasurement loss from actual to expected experience. This active management enables our U.S.

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The Motley Fool

JANUARY 26, 2024

as it recorded pre-tax charges of $4.3 as it recorded pre-tax charges of $4.3 Last year, 3M reached agreements with PWS and combat arms that are now subject to the court's approval, and recorded pre-tax charges accordingly. in Q4 from 19.1% in the year-ago quarter. billion and $10.5 billion and $10.5

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The Motley Fool

SEPTEMBER 27, 2024

Choose the right business structure Establishing separate business credit begins with selecting the proper legal structure. Creating your new business as a sole proprietorship or partnership will not fly because they are not legally considered entities that are separate and apart from the owner. And did you know that 99.9%

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Hedgestone

JULY 11, 2023

As a business owner, you may be wondering if you can sell your business if you owe taxes. The answer is yes, but it is essential to understand the implications of selling a business that owes taxes. Taxes can be a significant factor in determining the value of your business, and they can also complicate the sales process.

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Walkner Condon Financial Advisors

MARCH 16, 2023

As we are now within 30 days of the April 18 tax filing deadline (April 15 falls on a weekend and April 17 is a federal holiday), it is important to begin organizing your documents and creating a plan to file your taxes, if you have not done so already. Filing Late One of the most common mistakes is filing your tax return late.

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The Motley Fool

MAY 2, 2024

life insurance companies had a very strong quarter, with pre-tax income estimated at $258 million, driven primarily by benefits from LTC in-force rate actions, including the impact of legal settlements. As shown on Slide 7, Enact had a favorable $54 million pre-tax reserve release in the first quarter, which drove a loss ratio of 8%.

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Ballast Advisors

JUNE 18, 2024

Join us as we delve into the tax strategy, legal documentation, and insurance coverage considerations needed to successfully balance the ownership of multiple residences for snowbirds. Tax Considerations When it comes to tax considerations for snowbirds, there are several factors to keep in mind.

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The Motley Fool

JULY 10, 2024

Decide on a legal structure There are several types of business structures, and the format you choose will depend on the state in which you operate, whether you have business partners, and the overall risk of your business. Finally, an LLC, or limited liability company, creates a separate legal entity for your business.

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The Motley Fool

APRIL 16, 2024

Keeping your side hustle money separate from your usual personal finances can help make it easier to track your income and any tax-deductible business expenses.

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The Motley Fool

AUGUST 9, 2023

Free cash flow to the holding company remained strong, driven by Enact's return of capital and tax payments in 2023 from Enact and the U.S. We have since determined that how we account for the three long-term care insurance, or LTC, legal settlements under LDTI should be changed. life insurance companies. life insurance businesses.

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The Motley Fool

JUNE 23, 2024

Form an LLC or other business entity for (nearly) free You might not want to commit to taking this step right away, but if you're serious about making money with your small business idea -- especially if your business might go from a side hustle to a full-time income -- you should form an LLC (limited liability company) or other corporate entity.

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The Motley Fool

FEBRUARY 22, 2024

On a statutory accounting basis, pre-tax income for the U.S. billion earnings -- pre-tax earnings benefits in 2023 from LTC in-force rate actions and settlements were offset by higher claims as the blocks age. In addition to the MYRAP, recent legal settlements have further reduced risk associated with our legacy LTC book.

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Ballast Advisors

NOVEMBER 21, 2022

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Certain tax benefits may be available if you can claim an individual as a dependent. Family tax planning. Filing status and dependents.

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Private Equity Wire

OCTOBER 22, 2024

Despite the UK being a strong hub for PE and VC investment, recent geopolitical tensions and shifts in the UK’s tax policy—particularly regarding carried interest—have added new layers of scrutiny. This influx has increased insurer capacity, especially in the London market, providing Private Equity managers with better options.

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The Motley Fool

NOVEMBER 9, 2023

LTC had an adjusted operating loss of 71 million, driven by a liability remeasurement loss under LDTI. On a statutory accounting basis, pre-tax income for the U.S. life insurance companies is estimated at 30 million, driven by 21 million of pre-tax earnings in LTC. On a statutory accounting basis, pre-tax income for the U.S.

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The Motley Fool

OCTOBER 17, 2024

Very few public companies offer monthly dividends, and the ones that do are typically real estate investment trusts (REITs) because they are legally required to pay out 90% of their taxable earnings to shareholders. times its adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) over the past few years.

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Zajac Group

SEPTEMBER 12, 2024

Incentive stock options (ISOs) are known for their preferential tax treatment on the total recognized gain—as long as you meet the holding period requirements for a qualified sale. As a reminder, they aren’t subject to ordinary income tax or payroll tax when exercised. The short answer is, it depends. The takeaway?

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