Smith & Shapiro also provides management consulting services in which we help organizations improve their financial and business performance by analyzing business needs and creating and implementing solutions for improvement....
Continue readingSuccession planning is a preemptive process for businesses to recruit and develop employees to fulfill key leadership roles within the business....
Continue readingWhen taxes on a corporation are paid in one jurisdiction, very often part or all of that tax paid may be taken as a deduction, in other words, reduce taxes that may be due in another jurisdiction....
Continue readingThe primary goal of tax planning is to strategically arrange the affairs of a business or other asset owner in such as way as to reduce or eliminate a tax liability. Tax liabilities are debts owed to a government of a country, state, federal, local or other legal jurisdiction....
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A Buy-Sell Agreement is also known as a buyout. A Buy-Sell Agreement defines how a corporate owner or partner’s ownership interest is to be transferred or otherwise liquidated in the event of the owner’s death, incapacity, or departure from the corporation - similar to a prenuptial agreement in a marital arrangement....
Continue readingA Limited Liability Partnership (LLP) is just as it sounds, a partnership of two or more persons who have limited liability in the partnership. Limited Liability Partnerships provide partners of the LLP the ability to manage the business directly, yet separate the liability of each partner....
Continue readingLLC stands for Limited Liability Company. A Limited Liability Company is a very popular type of business entity for small businesses. It provides the personal liability protections and safeguards of a corporation with the tax efficiencies and flexibility of a partnership....
Continue readingThe formation of business entities in the United States is known as the process of Incorporation, and involves the creation of a Corporation or a corporate entity. A Corporation is a legal entity that is, in effect, recognized under the law as if it were an actual person....
Continue readingA corporation is a legal entity created under the laws of a state that has liabilities, benefits and protections that are separate and distinct from the personal assets of the individual owner(s) of the corporation. In most situations, a corporation is legally treated as if it were an actual person....
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