» Business Planning
Do-It-Yourself Wills & Estate Plans Are a Serious Mistake — Especially During Coronavirus (Covid-19) Uncertainties
April 6th, 2020
Your will and other estate plan documents protect you and your family during your life and after you pass away. Your estate plan provides peace-of-mind about the legal protection you have put in place. However, using forms or an online do-it-yourself (DIY) service can defeat those important goals and have significant negative consequences for you a…
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How Do Estate Planning and Financial Planning Work Together To Protect Your Assets and Your Family?
October 17th, 2019
Estate planning and financial planning are different processes that help you protect your assets and plan for the future. Each process has a different purpose. Estate planning attorneys and financial planners have distinct roles and expertise — but your estate plan and financial plan work together to help you achieve important long-term goals. Wh…
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What Business Insurance Do You Need To Protect Your Arizona Company?
September 19th, 2019
When you own a business, you need business insurance to protect your company and your assets against potential legal liability. Insurance also covers some types of unpredictable business losses. But how do you determine what types of business insurance you need? Insurance agents eagerly market many types of commercial insurance. At Peterson Law Off…
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Categories: Business Planning
Should You Choose S Corporation Tax Status for Your LLC?
August 15th, 2019
Taxation is one of the primary considerations when deciding whether to establish your business as a Limited Liability Company. Many LLCs have the option of electing to pay taxes as an S Corporation — and sometimes there are benefits in choosing that tax filing status. But how do you know if you should choose S Corporation tax status for your LLC?…
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Categories: Business Planning
New Arizona Limited Liability Company Act Impacts New and Existing LLCs
January 17th, 2019
Arizona laws applicable to limited liability companies (LLCs) in the state change substantially beginning in 2019. The Arizona Limited Liability Company Act (ALLCA), enacted in 2018, affects all current and new LLCs. If you own or are a member of an LLC or contemplate creating one, it is critical that you know about these significant changes. In ou…
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Categories: Business Planning
Should You Form an LLC for Your Arizona Business?
December 20th, 2018
Many business owners initially set up their new business as a sole proprietorship. A Limited Liability Company, commonly called an LLC, offers advantages that a sole proprietorship does not. LLCs are a popular choice of structure for many Arizona businesses, but they are not always the best or right choice for every business and owner. Finding the…
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Categories: Business Planning
What Is Business Succession Planning — and Why Is It Important?
November 20th, 2018
If you own a business, you spend most (or all) of your time running the business. Do you ever consider what would happen to your business without you? You probably don’t — but you really need to consider that possibility. Business succession planning is the best way to plan for unexpected events that can dramatically affect your business. You i…
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