NEWS & INSIGHTS
The Death of a Company: Dissolution or Administrative Termination?
A company’s existence begins when its Articles of Organization or Incorporation are filed with the Secretary of State. Intentionally or not, the life span of that company will vary. Companies cease business operations for a variety of reasons. Maybe there was a sale...
Cabin Pressure
If you have a cabin, it is likely that you’ve planned family weekends throughout this summer and are about now closing the cabin for the season. But have you put thought into how your cabin fits into your estate plan? If you have any thoughts about passing the cabin...
Preparing Your Business for Sale: The Importance of Being Ready with High Quality Financial Statements
A recession is coming. Not to be an alarmist, but history has proved that there is always a recession on the horizon. And considering that we’ve been riding a wave of prosperity for longer than the historical norm, a recession is likely to be coming sooner than later....
It’s Time to Update (or Create) Your Estate Plan
When is the last time you reviewed your estate plan? Alternatively, are you are part of the reported 60% of Americans that do not have an estate plan in place? Perhaps since you last thought about estate planning you have had children, or they have left the nest. You...
Parents of College Bound Children: Do You Have the Necessary Documents in Place in Case of an Emergency?
Spring is an exciting time for high school seniors as they finalize college choices and look forward to graduation. For many seniors, these are the last days under their parents’ roof (at least until next summer!). It also means turning (or just having turned) age 18....
2018 Tax Reference Guide
Wayzata Law Firm Sanford, Pierson, Thone & Strean, PLC Welcomes Attorney Matthew W. Simenstad
Matt grew up in Eden Prairie and attended high school at St. Paul Academy. From there he moved on to St. Olaf College, where he majored in English with a concentration in Media Studies. He studied abroad in Greece and the Caribbean before graduating in 2008. After two...
Employee or Independent Contractor? The Dangers of Unintended Employee Misclassification
Why does classification matter? One of the fundamental and most important legal issues any employer must address is whether a worker is an employee or independent contractor. While two parties may agree in principle on the arrangement at the outset, taking appropriate...
Entity Selection Under the New Tax Law
The new tax law has many ramifications for a business. Our peers are Copeland Buhl & Co have written the article below which suggests that now may be a good time to analyze your choice of business entity. Posted on January 22, 2018 by Sean Hauenstein of Copeland...
Yet Another Reason to Consider Updating the Governing Documents of Your LLC: Is Your Business Prepared for the New IRS Regulations for Entities Taxed as Partnerships?
Wait ... Another Change for Our LLC? New IRS Partnership Audit Rules Take Effect January 1, 2018 Recently we circulated “Are You Ready? Mandatory Changes to Minnesota LLCs Effective January 1, 2018.” This article focused on the impending mandatory conversion to 322C...