Transfer to Transferee IRA Not Taxable

Posted by Keith Codron | Nov 27, 2020 | 0 Comments

In a recent Private Letter Ruling dated September 25, 2020 (PLR #202039002), IRS determined that a transfer to a transferee IRA is not a taxable distribution and that distributions to the beneficiaries of that IRA are not includible in the gross income of the decedent's estate. FACTS A deceden...

Considerations for Forming an LLC for Holding Real Estate

Posted by Keith Codron | Oct 27, 2020 | 0 Comments

For individuals who own real estate, it is important to consider the best way to structure your ownership. When you are just starting out as an investor in real estate, you may hold title to the real estate personally, but that may not be the most advantageous method of ownership. Another option ...

Increase in Creditor Exemption for CA Homeowners

Posted by Keith Codron | Oct 07, 2020 | 0 Comments

On September 18, 2020, Governor Newsom signed into law Assembly Bill 1885, Section 1 of which increases the homestead exemption against creditors with respect to a debtor's equity in his or her personal residence. Specifically, the new law amends Code of Civil Procedure §704.730, effective Januar...

What is the Difference between an LLC and a Corporation?

Posted by Keith Codron | Oct 05, 2020 | 0 Comments

When starting a business, a business owner must first choose which type of entity to create. Two of the most popular entity types are the limited liability company (LLC) and the corporation. Choosing between these two types of entities can be difficult for business owners who are not familiar wit...

What Happens to an LLC after a Member Dies?

Posted by Keith Codron | Oct 05, 2020 | 0 Comments

Death is almost always a complicated event for the survivors, who have not only emotional but also logistical considerations to manage. However, when an owner (typically called a member) of a limited liability company (LLC) dies, it exacerbates the difficulties for the surviving members. In addi...

How Does LLC Ownership Work?

Posted by Keith Codron | Oct 05, 2020 | 0 Comments

The limited liability company (LLC) is a popular business structure for new businesses, but what does it really mean to own an LLC? LLCs provide unique opportunities to customize business ownership to fit the particular needs and circumstances of the owners. Here is what you should know about LL...

Five Types of Risk that Businesses Face

Posted by Keith Codron | Oct 05, 2020 | 0 Comments

Pursuing a business venture naturally involves risk. Eliminating all risk is not an option—there are many factors beyond your control, and it is impossible to prevent every circumstance that might deviate from your plans. Nevertheless, you can decrease the degree of risk to which your business i...

Should I Use a Confidentiality Agreement?

Posted by Keith Codron | Aug 18, 2020 | 0 Comments

Business owners often find it necessary or desirable to keep valuable and sensitive information private. In some instances, a business may have developed certain key elements that help distinguish it from its competitors. In other instances, a business owner may handle sensitive information that ...

How to Open a Business Account

Posted by Keith Codron | Aug 18, 2020 | 0 Comments

New business owners often wonder which action items to prioritize when launching a new venture. If you recently started or are about to start a business, one of the most important steps you should take is to open a business bank account that is separate from your personal account. Opening a separ...

The Dangers of DIY Contracts

Posted by Keith Codron | Jul 07, 2020 | 0 Comments

Contracts are an essential component of effective business management and development. Savvy business owners recognize the value of contracts but often explore ways to reduce the cost of obtaining them. In some instances, business owners attempt to create their own contracts by using templates av...

Asset Protection for Entrepreneurs

Posted by Keith Codron | Jul 07, 2020 | 0 Comments

Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business, each step is fraught with risks. This is especially true given the litigious nature of our society. As a result, many en...

Key Considerations for Managing a Remote Workforce

Posted by Keith Codron | Jun 18, 2020 | 0 Comments

The post-COVID-19 world will likely see a major shift toward companies maintaining remote workforces. Due to government-mandated business closures and stay-home orders, many owners and employees of small businesses have been forced to work virtually, and they have seen the benefits. Studies show ...

Retirement Updates Amid COVID-19

Posted by Keith Codron | May 26, 2020 | 0 Comments

On May 4, 2020, the Internal Revenue Service (IRS) published questions and answers regarding retirement provisions in Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In addition to providing aid for individuals and businesses, the CARES Act increases accessibility ...

Force Majeure Clauses in Light of COVID-19

Posted by Keith Codron | May 26, 2020 | 0 Comments

Businesses across the globe have experienced unprecedented interruptions and closures because of the COVID-19 pandemic. As a result, many businesses are finding it difficult to perform their contractual obligations. Consequently,  a common but often overlooked contractual clause is in the limelig...

How to Choose the Right Business Attorney

Posted by Keith Codron | Mar 27, 2020 | 0 Comments

A skilled attorney is a critical part of any business owner's advisory team. Business attorneys are equipped to assist you in handling a variety of tasks that can protect you from potential legal and business pitfalls, in addition to solving existing legal issues. As important as they are to your...

Legal Considerations When Hiring an Intern

Posted by Keith Codron | Mar 14, 2020 | 0 Comments

As a business owner, you may be considering starting an internship program for your company. Internships can be beneficial to both you as a business owner and the intern. Interns can receive hands-on training in their field of interest while assisting your company in reaching its goals. However, ...

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