General Partnerships, The Way To Go . . . Financially Under

October 30, 2014 on 1:20 pm | In Business Planning, Merger & Acquisition, Neal J. Robinson | No Comments

 

Though the majority of businesses in the United States are sole proprietorships, those of you who read an earlier post know that I recommend, for a myriad of good reasons, that an entity of some kind be placed between a person doing business and the rest of the world. Find an experienced business attorney to help establish your business entity.

In this post, I address briefly the general partnership form of business entity, the only form I consider more dangerous to the financial health of an individual than the sole proprietorship.  Why, you ask?  Because with the sole proprietorship, the sole proprietor is personally liable for the acts of the sole proprietor, the business and the business employees.  In the general partnership, the partners are personally liable for the acts of the business, the employees and each other.  What partners do can be fairly unpredictable, like contracting to purchase or lease things that cannot possibly be paid for out of the profits of the business, or like contracting to do that which cannot possibly be done profitably.

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Tarley Robinson April 2011 Newsletter

April 7, 2011 on 8:45 am | In General Interest, HOA, HOA litigation, John Tarley, Merger & Acquisition, Neal J. Robinson, Real Estate Litigation, Susan B. Tarley, Weekly Tweets | No Comments

Check out our April 2011 Newsletter that includes the details of our new location! We completed our move to New Town and have unpacked “most” of the boxes. Our blogging output has been a bit light the past couple of weeks as we prepared to move, but we’ll be back at it next week!

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Tarley Robinson February 2011 Newsletter

February 9, 2011 on 12:57 pm | In Common Interest Community, HOA, HOA litigation, John Tarley, Merger & Acquisition, Neal J. Robinson, Susan B. Tarley, Unit Owners Association, Weekly Tweets | No Comments

February Tarley Robinson Newsletter

Topics include a discussion of email scams. Also, we’re sure that you have already made your diet or exercise New Year’s Resolutions. Hopefully you are still on track! For your homeowners association, here’s a simple, but effective and invaluable list of suggested New Year’s Resolutions.

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The Proposed Tax Legislation and You

December 12, 2010 on 3:17 pm | In Business Planning, Neal J. Robinson, Real Estate Strategies, Weekly Tweets | No Comments

In S8721, S. Amend.4753 amending H.R.4853, there is some good news with respect to the long in limbo future of federal estate and gift tax legislation for taxable years beginning after December 31, 2010.   Further, it appears that the estate and gift tax amendments are likely to pass both houses of Congress this year, though nothing is certain in the current legislative environment.

Under the proposed legislation, the amount of a decedent’s taxable estate excludable from estate tax would be $5 million.  For years beginning in 2012, the exclusion amount would be indexed for inflation.  While the provisions of the proposed legislation will sunset with the entirety of the proposed tax package, this time as of December 31, 2012, the inflation index provisions as to these provisions may be an indication that there exists some consensus that the estate and gift tax components of the current tax bill may represent appropriate long-term policy.

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Tarley Robinson November Newsletter

November 4, 2010 on 6:35 am | In Common Interest Community, HOA, John Tarley, Neal J. Robinson, Real Estate Strategies, State & Federal Litigation, Susan B. Tarley, Weekly Tweets | No Comments


Tarley Robinson November Newsletter

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