Most people initially think that an entity is only formed and organized for asset protection. Most people don\u2019t know that if the appropriate entity is chosen and set up properly it can help meet the following goals:<\/p>\n
Income tax: \u00a0reduction, elimination and deferral<\/p>\n
Provide for retirement<\/p>\n
Centralized management<\/p>\n
Facilitate gifting and taking advantage of the annual Gift Tax Exemption<\/p>\n
Maintain control of the entity after making gifts and sales<\/p>\n
Reduce estate taxes<\/p>\n
Allow fractional interest in the entity without fractionalizing the underlying assets<\/p>\n
Provide centralized policy and risk analysis for the family\u2019s investments<\/p>\n
Provide for wealth transfer from one generation to another<\/p>\n
Provide business succession planning, along with buy-sell opportunities<\/p>\n
Control cash flow to members<\/p>\n
Reduce California taxes<\/p>\n
Resolve family business disputes privately<\/p>\n
Provide confidentiality<\/p>\n
Avoid business interruption<\/p>\n
Avoid probate<\/p>\n
Restrict the ownership rights of non-family members and prevent transfers due to failed marriages<\/p>\n
Prevent commingling of assets for family members<\/p>\n
Make withdrawals from the entity difficult to do<\/p>\n
Protect members from entity creditors<\/p>\n
Qualify for Family Business Exclusion<\/p>\n
Promote knowledge of family business<\/p>\n
Provide medical insurance and other benefits to employees with pre-tax dollars<\/p>\n
Provide income for family members<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
If you want\u00a0to learn\u00a0more about entity formation and goals contact us at:<\/p>\n
2070 Pioneer Court
\nSan Mateo, CA 94403
\nTel 650-572-7933
\nFax 650-572-0834<\/p>\n
McDowall Cotter<\/a>\u00a0provides comprehensive legal services in three areas of practice: civil litigation; business; and wealth preservation. To learn more visit us at\u00a0https:\/\/mcdlawyers.net<\/a>. We are a San Mateo based law firm and for more than 50 years, McDowall Cotter’s chief objective has been to deliver exemplary legal services that are personalized, effective and efficient.<\/p>\n","protected":false},"excerpt":{"rendered":" Purpose and Scope of the Company Most people initially think that an entity is only formed and organized for asset protection. Most people don\u2019t know that if the appropriate entity […]<\/p>\n","protected":false},"author":13,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"class_list":["post-904","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=\/wp\/v2\/pages\/904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=904"}],"version-history":[{"count":0,"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=\/wp\/v2\/pages\/904\/revisions"}],"wp:attachment":[{"href":"https:\/\/mcdlawyers.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}