When people hear the words “asset protection,” they think of rich individuals with offshore accounts and tax havens. However, in reality, asset protection is for everyone. Using a series of basic techniques, individuals can increase the odds that the wealth they’ve accumulated stays with them and their heirs and not someone else.
Social media is a relatively new phenomenon, and the law is just beginning to catch up with the issues that are being raised for businesses.
The following guest blog is written by Ted Kotsakis, Chief Executive Officer of PLUS Financial Network. He has been in the insurance business since 1985 and has held managerial positions with Prudential and AIG Life prior to creating PLUS Financial Network.
Did you know that if more than 50% of the interests in a partnership or LLC are transferred within a 12-month period, the business technically ceases to exist under federal tax law?
That is true even if the business continues to operate as normal for all other intents and purposes.
The U.S. Department of Labor publishes a guidebook to provide businesses with general information on the laws and regulations that the Department enforces. The guidebook describes the statutes most commonly applicable to businesses and explains how to obtain assistance from the Department for complying with them.