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Estate Planning for Business Entities: What About Limited Partnerships?

2021-01-19T20:56:54+00:00

Last August, I wrote a short blog post exploring the differences between corporations and limited liability companies (LLCs) for California estate planning purposes. These days, most business owners who choose to establish a legal entity for their business will choose between those two types of entities. However, when it comes to estate planning, we really should consider a third type of entity that isn’t as widely used for general business purposes: the limited partnership (LP). Traditionally, sophisticated estate planning with business entities involved creating what’s colloquially known as a “family limited partnership” (or FLP)—an LP whose partners are all members [...]

Estate Planning for Business Entities: What About Limited Partnerships?2021-01-19T20:56:54+00:00

More on the Tax Cuts and Jobs Act: What it Means for Small Business Owners

2020-06-29T22:32:28+00:00

More on the Tax Cuts and Jobs Act: What it Means for Small Business Owners In December, Congress and the president enacted the Tax Cuts and Jobs Act to overhaul the federal tax system. I recently wrote about one aspect of the Act in a post describing how it has changed the gift and estate taxes for the next 7 years. Of course, the Act did much more than just that. As relevant for today’s post, it also reformed how business entities’ income will be taxed by the federal government. I’ve written before about that topic and how it impacts [...]

More on the Tax Cuts and Jobs Act: What it Means for Small Business Owners2020-06-29T22:32:28+00:00