Be Like Bob - LLC to C. Corp. Conversion
LLCs are great for their ease of management and minimal corporate formalities. But, as a business scales, it could attract investors. Those investors are otherwise known as venture capital funds (VC). VCs prefer to invest in C Corporations. There are many reasons like tax considerations and exit strategies. For some business owners accepting fund investment was not on their radar when forming their business. Remember, one of the main considerations of forming a corporate entity is personal asset protection.
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Be Like Bob - LLC
Bob is back and his assets have grown. Now is the time to think about organizing his business to protect his assets. The simplest method to do that is through a Limited Liability Company (LLC). Yes, Bob will get certain tax benefits, but that is not the most valuable attribute an LLC provides. The most valuable attribute of an LLC is asset protection for its members. The fact that it is not as formal as a corporation is a major bonus too.
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Be Like Bob
We are often asked about which business entity is best? We almost always answer with, it depends. So, meet Bob, who will help us better explain when certain business entities might be right for you. Every other week we will follow Bob from sole proprietor to public company. Each time your goal is to #belikebob.
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Alimony, Spousal and Child Support…Oh, My!
The end of a marriage is a difficult time for anyone, and the financial consequences of untangling two lives can make it even worse. Although each is unique, alimony, spousal support and child support are all similar in the sense that one spouse is making a payment for the benefit of someone else (the other spouse or the parties’ children).
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Governance - Gosh Darn It!
At The Skeen Firm, we take the grind out of governance, allowing you to focus on making money. Don’t let governance issues hamstring your business or be your Achilles’ heel, leaving you to say gosh darn it.
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Martin Luther King Day 2022
"The ultimate measure of a man is not where he stands in moments of convenience and comfort, but where he stands at times of challenge and controversy." Martin Luther King, Jr.
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So your marriage is coming to an end. Now what? Part II
You’ve gotten over the initial shock of realizing that your marriage is over. Now what? Well, now you have some tough decisions to make starting with what do you want out of the divorce. Some preliminary matters to work though include who stays in the house, who gets physical custody of the children, who gets possession of the family pet, and how will the assets/debts be divided.
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I’ll Take Corporate Transparency Act and Beneficial Ownership Disclosure for $500
The Corporate Transparency Act (“CTA”) is part of the Anti-Money Laundering Act of 2020, which Congress added to the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”). The CTA requires Beneficial Ownership Disclosure (“BOD”) of all reporting companies. To keep it simple a reporting company is any corporation, LLC, or other similar entity formed with any state or foreign government. A beneficial owner of this kind of company is any person or entity with over 25% ownership.
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So your marriage is coming to an end. Now what?
Although no one gets married planning for a divorce, sometimes people are better off apart. Maybe they’re better as friends or maybe they’re so toxic together that divorce is the healthiest option for everyone involved. The end of a relationship – even more so a marriage – can be a tough thing to process both mentally and emotionally.
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Naughty or Nice - Custody Edition
The holiday season is upon us, and we’re just as excited about Santa’s arrival as you are! Did you know that Santa’s Naughty and Nice list isn’t only for children? That’s right. Santa’s also making a list of parents dealing with custody issues, and he’s checking it twice.
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The Skeen Firm 2021 Holiday Primer
It’s the most wonderful time of the year! Sure, the holiday season is great and all, but it is time for the annual Skeen Firm Holiday Primer. Your yearly gift guide of how to holiday the right and legal way. While we do not guarantee results by any means, we wish you a happy, safe, and lawyer-free holiday season.
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Essential Estate Planning
An essential estate package consists of five documents: a Last Will and Testament, a Durable Power of Attorney, a Durable Healthcare Power of Attorney, a HIPAA Release form and a Final Disposition Instruction sheet.
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Types of Custody in Pennsylvania
Odds are when you think of custody, you think of physical custody — the person with whom the child resides. Did you know there are two types of custody with seven variations? At the most basic level, a Court will decide what is in the child’s best interest. This will include whether one or both parents have physical custody -- that is the time each parent should spend with the child. The Court will also decide whether it’s better for one or both parents to have legal custody.
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Happy New Year!
Happy New Year! We look forward to serving and achieving our client's goals in 2021.
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Custody Christmas Carol
Christmas is right around the corner! Yikes! Maybe you’re in the group of folks who have already finished your shopping and have a mound of beautifully wrapped presents under your tree or maybe you’re in the “I shop on Christmas Eve” club and aren’t sweating the details just yet. Regardless of where you fall, you’ve most likely made all of your holiday arrangements and are looking forward to spending some quality time with your family. If you share custody of your children with your ex, maybe you’re counting down the hours or days until you see your children for Christmas.
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The Skeen Firm 2020 Holiday Primer
This holiday season is unlike any we have seen. But as we move through the various holidays recognized in December it is important to remember their purpose. Charity, humanity, and family are the reason the holidays exist in the first place.
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Small Business Formation Basics - Tax Considerations
Most small business owners wonder what they can do to decrease their taxes. The best answer for all small business owners is simple: Focus on growing revenue and you will find taxes will not matter. Following this philosophy is all the more important for start-ups. In the first five years of business, growth can fix most issues. Growth, not decreased taxes, is the lifeblood of your business.
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Thinking About Divorce?
Check out The Skeen Firm’s divorce guide. Contact us today at info@theskeenfirm.com or 724-550-6970 if you have questions about your unique situation.
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Spousal Support Seasons in Pennsylvania
They say to everything there is a season. The same can be said for your divorce. There are three seasons to a divorce: pre-, pending, and post-divorce. Just as each season in life has its own set of characteristics, each divorce season has its own type of support.
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