Family Businesses, Entity Formation, and Ownership

Start a company with a spouse, child, parent, or partner while making ownership, payroll, governance, succession, and tax consequences visible.

Guides for specific decisions

Compare one-owner payroll, qualified joint venture, partnership, LLC, and corporation paths before opening accounts or signing contracts.

Understand when a married couple’s unincorporated business may use separate Schedule Cs and when a partnership return is needed.

Compare control, payroll, benefits, profit sharing, liability, retirement and succession implications.

Plan age-appropriate work, payroll, records, withholding, and safety controls without confusing wages with gifts.

Create funding and valuation processes for death, disability, divorce, retirement, or owner conflict.

Coordinate gift valuation, voting rights, basis, capital accounts, and future distributions before transferring an interest.

Document principal, interest, repayment, collateral, default, and tax reporting so a loan is not mistaken for a gift or equity contribution.

Map ownership, valuation, goodwill, payroll, buyout funding, and tax basis when spouses separate.

Coordinate final return, estate, ownership transfer, payroll, customer notices, and valuation after a death.

Explain capital accounts, guaranteed payments, distributions, and why cash received is not always taxable income.

Use meetings, reserved decisions, compensation policies, and conflict protocols to keep tax and operating records reliable.

Prepare ownership, management, estate, insurance, training, and tax steps before a transition becomes urgent.