A family limited partnership is a device that allows gifts to be made at discounted values for gift tax purposes. A partnership is a consensual association of two or more persons or entities to carry on a business for profit. Each partner is fully liable for the debts of the partnership. In a limited partnership, …
What are the advantages of a family limited partnership? Read More »
In estate planning, this phrase refers to planning to transfer business ownership and control to the right persons while minimizing the tax cost. The concept usually applies to closely held family-owned businesses. A business is owned by a father whose wife will probably survive him, or both spouses own it in a typical situation. They …
Estate Planning starts with an analysis of: Your assets Your liabilities Your present and future needs and desires The present and future needs and desires of your family and relatives Your and their future prospects. Estate planning consists of planning and structuring your assets to meet those needs and desires. Some of the considerations are: …
Being a business owner comes with independence, control, and a world of possibilities. It grants you the opportunity to multiply your earnings and possibly grow an empire in your industry. But is it always a smooth sail? What happens to your time and financial freedom when running an SME? How can you make sure you …
How to Find Time and Financial Freedom While Running a Small Business Read More »
