Firm News and Law Updates
Don’t be in a hurry or get caught up in the holiday traffic fury!
Failure to leave early may only lead to heightened worry.
Aggressive driving may cause increased road rage.
If you encounter such a rampage, simply disengage.
Road rage will be deemed a criminal offense,
To which there is simply no defense.
Read MoreDivorce is a life-altering event that can be emotionally and financially challenging. If you find yourself going through a divorce in Washington County, PA (or anywhere, for that matter), then it is crucial for you to understand your rights and the legal process. In this comprehensive guide, we will break down the key aspects of a divorce in Washington County, provide useful insights, and offer guidance to help you navigate this difficult time.
Read MoreAre you facing financial challenges that seem insurmountable? Bankruptcy can be difficult, but it’s important to understand that you’re not alone. Many residents in Western Pennsylvania have experienced similar economic hardships. In this blog post, we’ll explore the basics of bankruptcy and the steps you can take to navigate the process effectively. Whether in Pittsburgh, Washington, Erie, or anywhere in Western PA, this guide aims to provide valuable information and support during these trying times.
Read MoreBefore diving into any lessons learned from running a business—a law firm—for the last five years, I would like to thank everyone who has supported me. I especially want to thank everyone who said I was crazy or weird or told me I could not do something.
Read MoreThat Warren Buffett fellow is really onto something, and that’s not even considering his inclusion on the Forbes 400. So, what exactly is he onto? Glad you asked! His company, Berkshire Hathaway Inc., is the gold standard of a holding company (holdco). Hold up, what was that term? A holdco, sometimes known as a parent company, is an entity that owns investments in the form of stocks, bonds, other companies (operating companies/opco), or anything of value. With the definitions out of the way, we can move on to how a holdco can help SMB owners.
Read MoreBob is back with a new lesson to help your business. Many small business owners want to retire. Most don't have a plan on how to make that happen. Steven Covey's second habit is, "begin with the end in mind." As a small business owner, determining your exit (end) will guide your corporate structure and business operations. It will also determine the appropriate level of succession planning for your situation. So, whether your business ends when you walk away, you build an empire and sell, or you build a brand with superb systems that can last for decades after you leave, one thing is certain having a succession plan is important.
Read More’Twas the month of the holidays across the Commonwealth,
We hope this year's primer finds you in good health.
Read MoreBeing pulled over or stopped by an officer is unnerving – there are no two ways about it. From start to finish, the process is emotionally rattling. A stop also can determine whether the officer obtains enough evidence to file charges against you. How you react to the stop will build or destroy your available defenses.
Read MoreIf we have heard “I don’t need a trust because I am not rich” once, we’ve heard it a million times. If each time were worth a dollar, we would have a big marketing budget to bust this myth. What is at the core of this misconception? That is hard to tell. What we do know is that a revocable living trust is an excellent estate and long-term planning solution for many.
Read MoreThis is a simplification of the process of going public, it is an example of the best-known investor exit. Investor exits are a major consideration for business owners, as are returns, growth, and how each of these fits into the investor’s time horizon.
Read MoreA lot of small business information available today focuses on LLCs. And while we are big fans of LLCs, there is a more direct and simple solution to get a business going. That solution is a partnership.
Read MoreAs we barrel toward our annual freedom fest on the 4th, it is important to remember some key laws and regulations. Doing so will prevent your holiday from ending in an undesirable boom. It might even help you increase your urge to toss tea in large bodies of water and attract bald eagles and the ghost of George Washington. (Note: results may vary, but safe, legal fun should not).
Read MorePennsylvania child support guidelines look at the portion of a household net income used for the benefit of the children of that household and then assigns a portion of that amount to each parent based on that parent’s contribution to the adjusted net household income. Sounds complicated, right? It really isn’t. Let’s walk through an example.
Read MoreTo say there is an abundance of information online about Limited Liability Companies (LLC) is an understatement. With such great resources, why do many owner-operators have common problems? Whether going it alone or with a team by your side, it is important not to ever lose focus of the main value of an LLC: personal asset protection. That protection lasts only if the corporate veil stays intact.
Read MoreLLCs 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.
Read MoreBob 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.
Read MoreWe 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.
Read MoreThe 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).
Read MoreAt 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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