There are many factors to consider when choosing how you will operate your business. As a second installment of our business law series, this post provides information on some of the requirements of the various business structures and information on liability of the individuals depending on which business entity is formed. You can review the difference in the various types of entities by checking out the first post in the series Types of business structures. Business structure Required to file/register with the WA Secretary of State? Sole proprietor No General partnership No Li
We previously posted a series on estate planning basics. Our next series will focuses on business law. This post provides very basic information on the types of business structures frequently used in the State of Washington. There are complexities within each of these entity structures, which the attorneys at Leos & Gilkerson, PLLC can guide you through. In addition, we can assist you with determining which business entity best suits your needs and how to form and maintain the business entity. Sole Proprietorship A Sole Proprietorship is one individual or married couple in business alone. Sole proprietorships are the most common form of business structure. This type of business is simple
Washington's updated power of attorney statue one year later
Happy New Year! After a brief hiatus for the holidays and a very busy end to 2017 here at Leos & Gilkerson, PLLC, we are happy to be back with another estate planning blog post. We have been getting lots of questions about the recent tax reform and how it affects individuals in their estate planning. This blog post will briefly describe both the Washington and the Federal Estate Tax. What is Estate Tax? According to the IRS, the “Estate Tax” is a tax on your right to transfer property at your death. What portion of my estate will be taxed? To calculate Estate Tax, upon your death, an accounting of everything you own or have certain interest in at the time of your death (including cash and se
