Starting a business can be a very exciting time and it can also prove to be stressful as the task of procuring new clients and transitioning your idea into profits can take some time to come to fruition. However, there are initial steps that should be considered by...
An Education Trust is a trust established for the exclusive purpose of financing the ever increasing costs of higher education. Education Trusts can be great planning tools for anyone looking to provide funding for the education of loved ones and are typically used by...
We had a client inquire today regarding the tax implications of their bank forgiving the deficiency amount owed after a foreclosure sale. The bank issued a 1099 of over $100,000.00 in “income” the client must report. Does the client need to pay income tax on that...
When registering your business with the Secretary of State, you are required to identify a Registered Agent. The requirement for the registered agent is set out via NC General Statute and is as follows: Must be an individual who resides in this state and whose...
Many business owners often times feel that the filing of the Articles of Organization is the final step to formalizing their business entity. There is the additional step that is suggested to formalize the rules that will govern the relationships between individuals...
Michele English’s practice is focused in the areas of wills, trusts, and estates; taxation; elder law; family law; and real estate law. She is licensed and admitted to the North Carolina State Bar. She is also admitted to practice in the United States Tax...
Congratulations to Coach Larry and Christin Fedora on the purchase of their new home in Southern Village! Four true Tar Heels in this picture! Thanks to The Robby Oakes Group – Corporate Investors Mortgage Group. for this special day. GO HEELS!
This time of year many individuals are focused on the April 15th deadline for the purpose of filing their individual and business income taxes. However, for registered corporations and limited liability companies, this date is representative of the Annual Report...
It’s been busy at the Law Firm!
People often consider trusts to be asset transfer tools of the super wealthy. However, the truth is that trusts can prove to be a smart choice for people of average income too. The true benefit of establishing a revocable living trust is that it allows your heirs to...