Good business practices like transparency and corporate responsibility can be leveraged to build valuable relationships. But throwing around these buzzwords will only get you so far. If you really want to see results, what you may want to consider is a practice of karma: the idea that helping others become successful—suppliers, customers, even competitors—is the real […]
Business litigation is an expensive use of both time and money and should be avoided whenever possible. Even the most favorable of settlements can cost a business months—if not years—of productivity and focus. To avoid the high costs of litigation, follow these six preventive steps:1. Don’t Skimp On ContractsInstead of spending a fortune on legal fees […]
Trusts vary in their structure, funding, and terms, so it’s hard to know how divorce will impact your trust without review. It’s safe to say, without question, your trust (and really your entire estate plan) should be reviewed during your divorce to prevent unforeseen negative outcomes. So, how will divorce impact a will or trust?The […]
A celebrity’s image and likeness can continue to produce considerable income after death. This type of intellectual property is considered part of your estate, and the IRS can tax its value. In the case of pop star Michael Jackson’s estate, that recently meant an IRS bill to the tune of $64.5 million, years after his […]
If you’re relying on your top line to grow your wealth, you could be missing out on easy opportunities to save money and improve profits, independent of your revenue. Many entrepreneurs waste precious time and money by falling prey to these common mistakes. However, there is no need to sacrifice, work harder, or take on new […]
Entrepreneurship is not for everyone. Only a certain type of person has the particular set of skills, and is willing to take calculated risks and work tirelessly to build a successful business from scratch. One risk you should never take is leaving the future of your business to chance. As you grow your company, consider how […]