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Understanding the Qualified Business Income Deduction

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…
Categories: Business Law, Tax Law
Business Tax File Folders

Corporate Tax Rate Changes and Choice of Business Entity

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…
Categories: Business Law, Tax Law
Woman Small Business Owner Typing on Laptop

Professional Service Company Owners Lose Out Under TCJA

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…
Categories: Business Law, Tax Law
Small Business Owners in Their Wood Workshop

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

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…
Categories: Business Law, Tax Law
Business Succession Planning: Two Men Handing Off Baton

Succession Planning for Professional Practices

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…

What Is a Succession Plan?

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…

Getting Married Soon? Starting a New Business? A Powerful, Little Known Tool Can Bound Your Risks

Managing risks is part of curating wealth. Whenever you engage in a major life transition, whether you’re tying the knot, starting a new business partnership or engaging in a risky but hopeful philanthropic venture, you want to bound your risk and…

What If the Government Comes After Your Business and Its Assets? [A Surprising Safety Net]

Your business may be extremely productive and profitable right now, but will you always be in this position? Ideally, yes. However, as a savvy entrepreneur/owner, you know that you cannot predict future risk based on present forecasts. You must expec…

Enforcing Non-Compete Agreements in Ohio

Gudorf Law Group can assist in writing and reviewing non-compete agreements to ensure business interests are protected.

Using Non-Compete Agreements to Protect Business Interests

Smart business owners use non-compete agreements and related employment agreements to restrict important employees from taking your trade secrets, intellectual property, customer relationships and going to work for a competitor.

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Testimonials

I met Ted when he was President of the Ohio Forum of Estate Planning Attorneys. Being new to estate planning, he volunteered to spend some time with me to help me understand some very complex estate and tax planning techniques that many attorneys … Read More
– Russell Golowin, Elder Law and Estate Planning Attorney, Golowin Legal, LLC, Was with another company when working with Ted at Gudorf Law Group, LLC

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