How to Keep More of Your Money This Tax Season

It’s one of the most important – and one of the most dreaded – times of the year: Tax season can be stressful and complicated for anyone; for entrepreneurs, it tends to be even more so. And you’re not alone: Some 40% of business owners name tax preparation as the worst part of owning a business. But with the right …

The Value of Time Management

“You may delay, but time will not.” These are the words of the ever-practical Benjamin Franklin, and they are, dare I say, timeless – they apply just as much today as they did when he said them. Time management is important for all professionals, and is utterly essential for entrepreneurs. Most of us can probably rattle off at least five …

Balancing Your Work and Personal Life

“Work/life balance” – the magical catchphrase that, for many professionals, seems more like an urban legend than an actual, attainable goal. Over the years, I have observed that the quest for such equilibrium is often even more of a challenge for the highly successful entrepreneurial types. Their work tends to be more all-consuming and less cut and dry than that …

PagnatoKarp has been named one of 2015’s Best Places to Work in Virginia

I am honored and humbled that Pagnato Karp has been named one of 2015’s Best Places to Work in Virginia. We pledge a deep commitment to creating a company culture that embraces customer-centricity, creativity, and a transparent desire to make positive industrial and social changes. Our vision could not come to fruition and flourish without two crucial players: our clients …

Anticipate & Adapt: Sharpen Your Strategic Thinking

As an entrepreneur, you’re used to doing it all, from long-term concept planning right down to taking out the trash at the end of the workday. But as your business grows, you begin hiring employees to do more and more of the day-to-day business, and you yourself shift from an execution role to a strategic role, it’s important to have …

Selling Your Business

An individual or family is considered an “ultra-high net worth” client if they have investable assets of $10 million or more. The distinction between a “high net worth” client and an “ultra-high net worth” client is important because once a client has investable assets of $10 million or higher, their financial planning needs change and expand.

Investor Education: Tax and Estate Planning – Minimizing Taxes in a Taxable Estate

By Wayne Cooper Today we are going to discuss minimizing taxes in a taxable estate. The two transactions we are going to discuss are low interest rate loans to children and Grantor Retained Annuity Trusts or GRATs. For purposes of these transactions, the IRS establishes a monthly hurdle rate. If these rates or greater are used in these transactions, then …

Investor Education – Tax & Estate Planning: Restricting a Beneficiary’s Access to Principal

By Wayne Cooper There are two ways a beneficiary can access principal of a trust. A beneficiary may be entitled to an automatic distribution or an allowable withdrawal from the trust or a trustee could have discretion in making distributions to the beneficiary.  In the past, many estate planning lawyers would provide a beneficiary access to trust principal on attaining certain …