Family Limited Partnership

We are living in the Future, are you ready? – Legally Mine

In case you missed it, we are now living in the Future.  This is a time to be amazed!  Think about the cartoons you used to watch as a kid and look at what we have now: Warfare involving Robots – http://www.newyorker.com/magazine/2014/11/24/unblinking-stare and Lasers – http://gizmodo.com/the-us-navys-first-laser-cannon-is-now-deployed-in-the-1659644456 Food Replicators  – http://www.washingtonpost.com/blogs/innovations/wp/2015/01/28/5-amazing-ways-3d-printed-food-will-change-the-way-we-eat/ Hoverboards – http://www.usnews.com/news/articles/2015/01/23/how-marty-mcflys-hoverboard-influenced-the-future Flying Cars – http://www.nytimes.com/2014/08/24/automobiles/terrafugia-transition.html?_r=0 Clothes with Cool Gadgets – http://www.usforacle.com/news/view.php/859412/Lets-get-digital-wearable-technology …

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Legally Mine Interview on Bloomberg

FOR IMMEDIATE RELEASE Legally Mine Discusses Legal Protection for Companies on 21st Century Television 21st Century Television sat down with guest Legally Mine to discuss how companies can better protect their assets from litigation. October 15, 2014 Boca Raton, Florida — In today’s society, many consumers and citizens are eager to sue companies with the …

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Your House was Lovely, but… – Legally Mine

Many people spend years working towards the home of their dreams. Don’t let your dreams slip away because you didn’t take the time to truly protect them.  But your business is incorporated, so your house should be protected right?  WRONG!  For more information on why simply incorporating does very little to protect your personal assets, …

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Business Legal Entities – Legally Mine

  Have you ever wondered what the difference was between an “S-Corp”, “C-Corp”, “Sole Proprietorship” and  “Partnership”?  Why do we have so many business structures and what are the differences?  How will the way your business/practice is structured affect you in a lawsuit?  Are the taxes all the same for each? Well today is your …

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The Charging Order – Legally Mine

(This is part of an article that we wrote for the magazine Audiology Today, briefly covering some key topics of sound business structuring – with a few inserts for clarification) The Charging Order In an attempt to capture some sort of compensation from the FLPs (Family Limited Partnerships – see the home page of this …

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Tax Reduction – Legally Mine

Tax Reduction In their landmark book, “The Millionaire Next Door”, authors Stanley and Danko clearly point out that financial independence is often achieved by those who seek ways of reducing their taxes.  One often overlooked method of reducing your income taxes is by taking advantage of deductions made available through corporate resolutions. One example is …

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Family Limited Partnerships Part 4 – Legally Mine

  Here is an example of how a Family Limited Partnership could work. Wyoming Oil : Oil was discovered in a little community in Wyoming.  The Cook Family Limited Partnership owns 160 acres of land, including all the mineral rights. The parents own 20 percent of the partnership interests and their children own the other …

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Income Shifting Information – Legally Mine

Legally Mine strives for excellence in helping our clients and the general public understand the current tax situation in the United States.  The following is one of the many strategies and tax concepts that we teach.  Please feel free to contact us at 800-375-2453 or info@legallymineusa.com for more information. Income Shifting Income shifting is moving …

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