For the love of your business

Articles to LIFT Your Life and Business

Proposed Tax Laws Impact on Business Taxation and Estate Planning—Part 1

On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats have proposed a number of significant tax increases and other changes to fund the plan, including increases to personal income tax rates and […]

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Billionaire Banking Heir’s Cryptocurrency Fortune Disappears After His Death

In April 2018, billionaire Matthew Mellon flew by private jet to Cancun Mexico to check himself into drug rehab to deal with his addiction to opioid pain pills. But the 54-year-old heir to the Mellon Bank dynasty never made it to the rehab facility and was found dead in his hotel room after suffering an […]

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Avoid Making 3 Common Mistakes When Choosing Your Successor

Choosing the person to take over your business after you exit isn’t about selecting someone who’s exactly like you or even selecting someone you like. The most important thing is that you choose someone who’s not only well-qualified for the role, but who also has the vision and skills to lead your company into the […]

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Why You Should Create a Trust To Protect Your Business and Family

Although you can invest in many different types of insurance to protect your business from lawsuits and other liabilities, one of the greatest liabilities you simply can’t avoid, especially if you are the sole owner of your business, is your incapacity or death. To make certain that your business—and the income it generates for your […]

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Life Insurance For Your Business: What You Should Know

As a business owner, your family members aren’t the only ones who could be devastated by your death. Should something happen to you, your team, partners, and clients could all face disastrous consequences. To address this risk, you should seriously consider investing in life insurance. As we pointed out in a previous post, having the […]

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Here’s How to Protect and Capitalize On Your IP—Part 2

Intellectual Property (IP) is an integral part of many of today’s companies’ overall value. Indeed, studies show that up to 80% of the value of a typical business is IP, and as of 2020, more than 84%—$19 trillion—of the S&P 500’s market cap is represented by intangible assets like IP. However, even the biggest corporations […]

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The Most Important Legal and Financial Actions To Take Right Now

Owning a business is challenging even in the best of times. Add a global pandemic, the likes of which we have never seen in our lifetime, and it becomes much more overwhelming. Often, business owners try to compensate for shortcomings in their business by bringing in more and more revenue. For many people, however, business […]

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CORONAVIRUS: Impact to Your Business, Health and Happiness

While it’s still hard to tell how the Coronavirus will impact us in the long term, it’s become a subject that’s impossible to ignore. While some are advocating we prepare to be quarantined, potentially for months, others are saying the virus is nothing more than a common cold. The World Health Organization takes a more […]

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4 Estate Planning Documents No Entrepreneur Should Be Without

Though most entrepreneurs understand the value of effective business planning, fewer are aware of the critical role estate planning plays in their company’s success. Yet considering what would happen to your business upon your death or in the event of your incapacity is one of the single-most important things you can do for your business. […]

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Protect Your Business and Family Through a Living Trust

While various types of insurance can protect your business from lawsuits and other liabilities, perhaps the greatest liability of all—especially if you’re the sole owner of your business—is what could happen to your company when you die or if you should become incapacitated by accident or illness.  To ensure your business—and the income it provides […]

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How Will The Coming Wealth Transfer Affect Your Family and Business?

With more and more Baby Boomers reaching the later stages of seniorhood, the media is abuzz over what’s being called “The Great Wealth Transfer.” This refers to the coming intergenerational transfer of wealth that will occur over the next few decades, as Boomers die and pass on their wealth to younger generations. Because no one […]

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