Estate

Living Trusts in Florida

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Assets placed in the trust do not go through probate. The trust directs what happens to those assets and you do not need a regular Will (consider a Pour-over Will) or a probate proceeding in court for the assets to pass to your beneficiaries. Creating a living trust in Florida allows you to bypass probate […]

Business

Business Organizational Structures

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While you don’t necessarily have to use an organizational structure that currently exists, it helps to be aware of what other companies are using. Here are a few of the most common structures in modern businesses: 1. Functional Also commonly called a bureaucratic organizational structure, the functional structure divides the company based on specialty. This is […]

Taxes

Earned Income Tax Credit?

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Documents needed: Social Security cards, a Social Security number verification letter, or other U.S. government document verification for all persons you may list on the return. Birth dates for all persons you may list on return. Copies of last year’s federal and state returns, if you have them. All income statements: Forms W-2 and 1099, […]

Business

S-Corporation

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S-corporations, like partnerships, are pass-through entities. That is, there is no federal income tax levied at the corporate level. Instead, an S-corporation’s profit is allocated to its shareholder(s) and taxed at the shareholder level. Form 1120S is the form used for an S-corporation’s annual tax return. (This makes sense, given that Form 1120 is used […]

Business

Finance Your Business

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There are many ways to finance your business, including loans backed by the government and funding programs. Loans Government loan programs offer financial support to business owners who may have trouble qualifying for a traditional bank loan. Banks and lending institutions that participate in these programs provide loans guaranteed by the government to start or […]

Funding

What is Debt Consolidation

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Debt consolidation is a financial strategy, merging multiple bills into a single debt that is paid off by a loan or through a management program. Debt consolidation is especially effective on high-interest debt such as credit cards. It should reduce your monthly payment by lowering the interest rate on your bills, making it easier to […]