Legal Update from
Your Legal Resource

 April 2011

Lori T. Williams, Esq.

Owner/Managing Attorney

P.O. Box 1552

Birmingham, MI  48012-1552 

248-594-4470

lori@bestlegalresource.com

www.bestlegalresource.com

Article 1: Mininimizing your tax consequences 

By Guest Blogger: Attorney John T. Carter

Businesses are taxed differently, depending on the type of entity they have created.  This can also impact the business owner with respect to their personal tax consequences. There are legitimate ways to decrease tax liability for both the business and the owner. 

As to business taxation, there are two options:

1)    The "taxable entity", otherwise known as the "C" corporation; 

2)    The "pass-through entity", which includes the sole proprietorship, general partnership, LLC or Sub-Chapter S corporation.

Click here to read the rest of the article.   

Post your comments to our blog here.   

Article 2:  How long do you need to keep business and personal records?

By:  Lori T. Williams, Esq.

For a handy, one page guide to proper record retention, click here.  This information was provided courtesy of Derderian, Kann, Seyferth & Salucci, PC.

For those who filed an extension on your tax return, or for those who might have missed something and need to amend their April 18th return, check out these tax tips of the week from DKSS.

Having proper counsel from a tax attorney and CPA is critical so that you don't overpay taxes, or under report income and taxable assets.  No one wants to face an audit, but these days the IRS agents are even more aggressive and are targeting home offices, long standing professionals, and other legitimate taxpayers to try and collect more income tax.  Get proper counsel to avoid or remedy IRS scrutiny.  Read the following articles to brush up on the latest red flags for audits:

Tax Return Audit: What Can Flag You;

 IRS Audit Red Flags: The Dirty Dozen;

Don't Let the IRS Reclassify Your Business as a Hobby;

If you need a good business attorney, tax attorney, or CPA, call me for a referral.  As a 22 year attorney, I take the guess work out of hiring a professional, because I connect you with the right specialist for your situation.  Call me today for a free referral to a trusted advisor at 248-594-4470.

                               ____________________

Most people know when they need an attorney, and they might even know an attorney or two.  Yet, often they don't know how to find the right attorney for their situation. 

75% of Americans hire an attorney recommended by their family.
 

65% of them are unhappy with the services that attorney provided.

Don't you deserve better Odds than that? 

Attorney Lori Williams has put together a large network of lawyers she personally knows and has worked with over the past 20 years, who are located throughout Metro Detroit, and are ready to serve you.  Each lawyer has experience (10-30 years) in different areas of law, and will handle your legal issues promptly, professionally and affordably.  You'll receive a FREE referral to the right attorney for you, whether it be for personal legal services as an individual, or for your small business. 

Our specialists handle all the areas of law, including:

-Business Law (Set up a corporation or  LLC; protect intellectual property through patents, trademarks, copyrights; draft/review contracts or operating agreements or licensing agreements for your business; tax planning, etc.);

  
 -Family Law (divorce/custody/support);

-Personal Injury;
 

-Workers Compensation;

-Social Security Disability;

-Malpractice;

-Real Estate/Foreclosure/Loan Modifications;
 

-Bankruptcy;
  

-Employment Law;

-Etc.

Call today for a free consultation and referral

 and get the legal help you need!
 

248-594-4470
 

Our Services:

Lori T. Williams is a 22 year attorney and the owner of a legal referral and legal consulting business knows as Your Legal Resource.  She connects the right client in need of legal advice or representation with the right attorney.  Her team of attorneys cover all areas of law throughout Metro Detroit.

Lori also helps solo/small firm attorneys and other professionals start and grow their practices by effectively branding and marketing themselves,  

mastering networking, and creating effective strategic relationships to generate clients and revenue.

Your referrals are the heart and soul of our business and we are very grateful for them.  Call us today if you know anyone in need of legal advice or any attorneys looking to grow their practice.

Testimonials:

For legal referrals:

Thank you so much to Lori at  http://www.bestlegalresource.com/!!! She not only set me up with my new lawyer, but also was able to answer all my legal questions and completely put my mind at ease. In a world where the layman knows very little about the legal system, Lori is there to help guide and protect you and your interests. If you need legal representation, she can find out your specific needs and set you up with exactly the right person.  Jeanette Ryan

For consulting services:

Lori:  I am amazed that so much has been accomplished so quickly after I connected with you.  I have made some promising contacts at the networking luncheon and have had two very promising meetings on referrals.  Please feel free to use me as a reference. John Holmquist, Employment Law Attorney

For a FREE consultation and a legal referral, or a FREE marketing assessment of your business,

Lori T. Williams, Esq.

Owner/Managing Attorney

Your Legal Resource, PLLC
P.O. Box 1552
Birmingham, Michigan 48012-1552
248-594-4470 

lori@bestlegalresource.com

www.bestlegalresource.com
twitter.com/loritwilliams