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The Tax Cuts & Jobs Act Revisited [2020 Tax Update]

How the TJCA Changed the Tax Rules for Businesses The TCJA was the first significant tax reform in many years, and it changed multiple aspects of tax law for corporations, sole proprietorships, partnerships, limited liability companies, and S corporations. Here are a few of the main changes of TCJA for businesses: • None Corporate Tax Rate. Some corporations now pay a flat 21 percent tax rate while others use a blended tax rate. • None Corporate Alternative Minimum Tax. There is no corporate al

The Only Wrong Answer is 50/50: Calculating The Co-Founder Equity Split

In either scenario, it is worth noting that Harvard Business Review reports that founder unhappiness worsens with hindsight, with the percentage of founders unhappy with their equity split increasing by 2.5x as their start-ups mature. To protect your business, deciding when to define equity splits is vital and demands outside counsel by an unbiased, experienced business lawyer. They will guide you regarding the best timing for your unique situation and also about important factors to impacting

What if I Can’t Find the Original Will? Using a Photocopied Will in Maryland

What Happens When You Cannot Locate the Original Copy of a Will? Sometimes, family members know there is an original copy of a will, but they cannot locate the will. The family searched everywhere for the original copy of the will, but the only document they located was a photocopy of the original. Will the probate court in Maryland accept a photocopy of a will? Yes, potentially the probate court will admit a copy of an executed will for use to probate an estate, but the associated problems wi

Five Ways to Prevent a Will Contest

Five Ways to Contest-Proof Your Will The first step is to work with an experienced attorney who understands probate laws in Maryland. Your attorney ensures that your will and other documents are drafted and executed pursuant to the legal requirements. Furthermore, your attorney ensures that you have witnesses who can testify that you were of sound mind when you voluntarily signed the will. If needed, your attorney can testify about the hours spent discussing your wishes and that the will is a

Running a Business During COVID-19 - Willcox, Buyck & Williams

In these uncertain times, many business owners face multiple challenges from different directions. We have never been in a situation quite like this before, and we do not know whether it will be safe to resume ordinary business operations in a month, six months, or even a year. The U.S. Chamber of Commerce predicts that over 40 percent of the small businesses in America might close their doors forever by the end of 2020. When a business cannot open its doors because of the pandemic, its revenue

Planning for Long-Term Care

Long-term care may include a variety of services to help an individual with his or her personal care or health care needs. The intent is to allow the person to live as independently as possible, but remain safe. The care may be provided by a variety of persons or service providers in a variety of settings. For example, a person may receive care at home from a family member or a trained in-home health care provider. Some individuals may live in an assisted living facility where they receive some

What to Expect During a Car Accident Claim - Willcox, Buyck & Williams

What you should expect during a car accident claim process will depend on whether you are trying to handle the process on your own as a DIY project or you have a lawyer on your side. Your experience will be vastly different, depending on which of these paths you choose. A South Carolina car accident attorney can negotiate directly with the insurance company’s claims adjuster on your behalf. When you work with a lawyer, you will talk to the attorney about what happened at the accident. Your lawy

Your Personal Injury Settlement and Bankruptcy

How Can a Personal Injury Settlement Affect My Bankruptcy? If you have been injured in a California personal injury accident, you have the right to file a claim for damages against the negligent party. Any compensation awarded will help offset immediate and future expenses and lost wages. However, personal injury claims take time to settle, leaving you burdened by unpaid debt and perhaps seeking bankruptcy relief. You may find yourself overwhelmed and wondering, “How can a personal injury sett

5 Things to Look for in an Alzheimer’s Care Center

A person with Alzheimer’s disease is at risk of wandering away from the facility, particularly at night. When this happens, the individual can get injured, become a victim of violent crime, or die from hypothermia, drowning, or other tragic events. Dementia care centers need to prevent “sundowning” and other wandering. Some facilities protect the residents by locking the units to that no one can enter or leave. Highly restrictive environments, however, can cause people with Alzheimer’s disease

Requesting Changes to Your Police Report After an Accident | J&Y Law

How Do I Request Changes to a Police Report After an Accident? Car accidents on busy California roadways, even minor collisions, are unsettling. You’ve been hit, there is damage to your vehicle, and you’re disoriented. Next thing you know, police are on the scene, and everyone is trying to figure out who’s to blame. It’s chaos at best, and it’s not surprising that incident reports may not tell the whole story or at least contain some inaccuracies. If you have been involved in a California car

Seven Steps for Winding Down Your Business

If you have outstanding contracts, projects, or orders, you need to complete those obligations before closing. If you close without fulfilling contractual obligations, you could be personally liable for damages, depending on the business structure. Notifying your employees can be difficult, especially for small business owners who view their employees as family members. The timing of the notification is up to the business owner and depends on several factors. If you need to finish jobs, you may

Everything You Wanted to Know About the EIDL Program in 2020

Previous COVID-19 economic relief programs, like the Paycheck Protection Program, ran out of money quickly. It could be in your best interest to talk with a Maryland business attorney at your earliest convenience to find out if you are eligible for the EIDL program and get help with the application. Please be aware that the Paycheck Protection Program is once again accepting applications, but the new deadline is August 8, 2020. If you own a small business or an agricultural business with 500 or

What Do I Do if I am Injured in a Hit and Run Accident?

What Do I Do if I am Injured in a Hit and Run Accident? When the driver of a car causes injury to a person or property and leaves the scene without exchanging information or rendering aid, that becomes known as a hit and run. Unfortunately, for California residents, hit and run accidents in California are on the rise. If you’re the victim of a hit and run, you’re probably overwhelmed by anxiety and worry. Hit and run car accidents bring a great deal of physical, emotional, and financial stress

Who Is Responsible for My Injuries in a Limo Accident?

Who Is Responsible for My Injuries in a Limo Accident? Hiring the services of a limousine company is more common than ever before in California. In a state known for its extravagance, special occasions beckon Californians to indulge in luxury and carefree travel. But what happens when your trip to the prom, wedding, or special birthday celebration ends in the tragedy of a limo crash? What do you do, and who is responsible for your injuries in a limo accident? The very first thing any limousine

Understanding the SECURE Act

Five Ways the Secure Act May Impact an Estate Plan Your estate plan and retirement plan work together to ensure you have the income and resources you need during retirement or if you become incapacitated, as well as protect your assets and the legacy you desire to leave for loved ones. When there are changes in estate laws or retirement laws, it may be necessary to make changes to your estate and retirement plans. The Secure Act has over two dozen provisions that impact various retirement rule

Getting Reimbursed in an Uninsured Motorist Accident

How Can I Get Reimbursed for Medical Expenses if I Was Hit by an Uninsured Motorist? While California requires all drivers to carry auto insurance, the Insurance Research Council reports that nearly 1 in 8 California drivers are uninsured. Car accidents involving uninsured motorists present a problem for those deserving compensation for property damage or bodily injury. If you are involved in a California car accident with an uninsured driver, your options for recovering damages are limited. D

My Doctor Failed to Diagnose My Cancer. What Are My Rights?

Advances in modern medicine and technology have helped scientists make great strides in cancer research, so much so, that the number of cancer survivors has increased by 29 percent between the years of 1991 and 2017. The key to overcoming cancer? Early detection. According to the World Health Organization (WHO) and other scientific organizations, many cancers can be cured if they are caught early. The more cancer progresses, the harder it becomes to treat because it spreads throughout the body

Summer Is Here: Be Safe in the Pool with these Tips

Summer Is Here: Be Safe in the Pool with these Tips Hot California days beg for swimming pool fun. After all, what’s better than cooling off during a quick splash in the pool, especially with family and friends? Whether you’re taking a solo dive or planning a swim party, being mindful of swimming pool safety is essential. Every year, swimming pool accidents result in unintentional drownings that could have been avoided. California swimming pool accident lawyers understand the tragedy of these

The Courts & COVID-19 - Willcox, Buyck & Williams, P.A.

The coronavirus affected almost every aspect of life for South Carolinians, including how we handle legal matters. The courts throughout South Carolina had to adjust to the restrictions required to stop the spread of the virus throughout the state. However, companies need to address legal matters. Our South Carolina business attorney continued to assist clients with legal matters, including handling matters that came up before the court. Yes, courts in South Carolina are open. However, some co

Splitting Decision Making 50-50

Splitting decision-making 50/50 with your business partner can cause a multitude of conflicts for your company. Many business partners end up splitting decision-making equally by default because their partnership documents do not clearly define the roles and responsibilities of each partner. A South Carolina business attorney can guide you through the formation of your partnership or another business entity and draft documents to help you avoid these and other foreseeable issues. How Equal Deci
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