April 25th, 2018

The Tax Cuts and Jobs Act creates many opportunities for business owners and investors.  The opportunities are like nothing we have seen in the last 30 years.  You will need an appropriate structure in place to take advantage of these opportunities.  Unlike the prior practice of working your way through the year and meeting with… Read More

Goals of a Master Service Agreement

April 9th, 2018

Many professional service companies use master service agreements with their clients. A master service agreement contains important agreements that have been negotiated with the client. Being clear about the goals of your master service agreements could prevent problems later in your business relationship. What Can a Master Service Agreement Do for Me? Getting your agreements… Read More

Protect Your Heirs with Spendthrift Provisions

April 6th, 2018

Most of us have the best intentions when making decisions about who will get our property after we’re gone. Developing a comprehensive estate plan usually gives us a sense of accomplishment and peace. However, we may start having strong doubts about some of our heirs like: Will my heirs be able to manage a large… Read More

Are You Ready for the New IRS Enhanced Partnership Audit Rules?

April 4th, 2018

Thinking of the IRS strikes fear in most of us, especially when “IRS” is used in conjunction with the word “audit.” This is especially true when IRS regulations change, requiring a fresh look at accounting and treatment of tax issues. One of the most recent vehicles for change is the IRS Enhanced Partnership Audit Rules…. Read More

How to Overcome Estate Planning Excuses

April 2nd, 2018

They pop up when we least expect it – excuses. We know we need to do something, but put it off day after day. To-do lists get so long we become intimidated, then decide to chuck it all and go fishing. After all, it’s easier to do something we enjoy than something that’s necessary but… Read More

Protecting Against Ransomware Attacks

March 30th, 2018

Cyberattacks are on the rise. In addition to hacking, managed service providers and their clients must now be on guard against evolving cyber-risks, including ransomware is becoming more prevalent. In 2017, ransomware payments totaled about $2 billion, which was about twice the 2016 figure. As Managed Service Providers (MSPs) provide management of IT systems, they… Read More

Beneficiary Deeds: Are They Right for You?

March 28th, 2018

              Estate plans are not a one-size-fits-all game. You may need a simple Will for a simple estate. People with more complex estates need an estate plan that covers all the bases. Advanced estate plans may include lengthy Wills, trusts, strategies to reduce taxes and minimize probate. One tool… Read More

Dying Without a Will: Intestacy Laws in Minnesota

March 26th, 2018

A Last Will and Testament is one of the most important documents you’ll ever sign. And, yet, only about 44% of Americans have signed Wills. That statistic also doesn’t tell us if their Wills have been kept up to date. It’s true that your estate assets will be distributed whether you die with a Will… Read More

What Minnesota’s Omnibus Tax Bill Might Mean for You

March 23rd, 2018

A controversial law signed in 2017 portends big changes for Minnesota residents. Minnesota’s Omnibus Tax Bill, the first major tax legislation since 2014, addresses a number of issues. It’s important to understand how the bill affects you, especially when it comes to business, estate planning, and taxes. Estate Tax Exemption Minnesota is one of the… Read More

What Kind of Wills Are Valid in Minnesota?

March 21st, 2018

            Leaving a Will is a person’s way of telling the world how they want their estate assets to be handled. However, signing a Will that does not meet the legal requirements of a valid Will means that you may as well have died intestate (without a Will). General Validity… Read More