» Business Law

Setting Up an LLC for Real Estate Investing

November 16th, 2022
Investing in real estate can be both lucrative and risky. While nothing can eliminate all the risk inherent in real estate investment, choosing the appropriate structure for your real estate business can minimize unnecessary exposure to risk. In Ohio… Read More

Should You Make Your Business an LLC or S Corporation?

July 20th, 2020
Contributor: Ted Gudorf, J.D., LL.M.
One of the first decisions a business owner is faced with is what business entity they should choose for their company. For many businesses, the choice comes down to two options: a limited liability company (LLC) or S corporation. An S corporation is… Read More

How to Convert a C Corporation to an S Corporation (And Whether You Should)

May 21st, 2020
Since the implementation of the federal Tax Cuts and Jobs Act (TCJA) a couple of years ago, our office has received many inquiries about the benefits of converting an existing C corporation to an S corporation. In this article, we will briefly discus… Read More

The Ohio Small Business Deduction

December 12th, 2018
Many Ohio taxpayers each year fail to take advantage of a tax deduction that could save them thousands of dollars. Some may not be aware that they qualify for the deduction. Some who are aware of it may think the filing requirements are too cumbersom… Read More

Understanding the Qualified Business Income Deduction

October 17th, 2018
The Tax Cuts and Jobs Act (TCJA) has made some significant changes to the Tax Code, one of which is the implementation of the qualified business income (QBI) deduction. This deduction is found in Section 199A of the Tax Code. Although one goal of the… Read More

Corporate Tax Rate Changes and Choice of Business Entity

August 10th, 2018
Choosing a business entity — whether a C corporation, S corporation, partnership, limited liability company, or sole proprietorship — is one of the first, and most important choices you will make for your business. The Tax Cuts and Jobs Act (TCJA… Read More

Professional Service Company Owners Lose Out Under TCJA

June 22nd, 2018
As 2017 drew to a close, President Trump signed his promised tax reform into law. Dubbed the “Tax Cuts and Jobs Act,” (TCJA) it was the most significant and thorough reform to U.S. tax law in more than three decades. Since it took effect… Read More

How Section 179 Increase and Bonus Depreciation May Help Your Small Business

April 25th, 2018
Business owners know that when they purchase property for business use, such as a delivery truck or machinery for production, they can claim deductions for the purchase of that equipment as a business expense under Section 179 of the United States In… Read More

Succession Planning for Professional Practices

December 11th, 2017
For most business owners, their business is a source not only of income but of personal and professional pride. It may represent, aside from raising a family, the most significant achievement of their lifetime. Given the importance of the business in… Read More

What Is a Succession Plan?

November 4th, 2015
In life and in business, you must plan ahead for the unexpected. A succession plan outlines a clear path for what should happen to your company when you retire or step aside due to illness or a disability. Succession planning involves multiple compon… Read More
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