Authored by: Samir Dahman Physicians are one of the few fields where employees still have lengthy complicated employment contracts. They are one of the few remaining types of employees who are not at-will employees. It is common for people to be overwhelmed by any...
Those looking to aggressively protect their assets while still benefiting from them have a new, realistic option under the Ohio Legacy Trust Act, Ohio Revised Code Chapter 5816 (the “OLTA”), which became effective March 27, 2013. The OLTA permits an individual to...
Authored by: Samir Dahman If you’re considering creating a trust, you have several options. One is whether the trust should be revocable or not. There are advantages and disadvantages to both, but revocable trusts offer some distinct benefits that many people prefer....
On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012, which President Obama recently signed into law. The Act contains the following estate, gift and generation skipping tax provisions: The maximum rate for the estate, gift and...
On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012, which President Obama recently signed into law. The Act extends a number of business and investment incentives. Significant items include: Two-year extension of the research tax credit...
On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012, which President Obama recently signed into law. The Act extends a number of Bush-era income tax provisions and reinstates a number of Clinton-era income tax provisions with certain...
Authored By: Samir Dahman What is a Trade Name? A trade name is the name the business uses for advertising and trade purpose. In Ohio, a trade name is a name used in business or trade to designate the business of the user and to which the user asserts a right to...
Authored by: Samir Dahman When many people think about S Corps and LLCs, they think that the two are different types of entity structures. In reality though, “S Corp” is a taxation election, not a separate business entity. As an S Corp, income, losses, deductions...
One of the major reasons companies choose to form a legal entity (such as an LLC or corporation) is to limit personal liability of the shareholders or members. Simply put, the personal assets of the company’s owner(s) – including their homes, cars, savings, and...
Authored by: Samir Dahman An Operating Agreement is an agreement among the members of a limited liability company (an “LLC”) which governs how the LLC will operate. It also contains general procedures as well as member’s financial and managerial rights and duties. In...