Entity Formation

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January 2024 Estate Planning Update

Estate Planning Update January 2024 1. 2024 Annual Gift Tax Exclusion: increased to $18,000 per donor, per donee. 2. 2024 Gift and Estate Tax Exemption: increased to $13,610,000 per donor through 2025, see #6, an increase of $690,000. 3. Marital Deduction for Transfers to U.S. Spouse: remains unlimited. 4. 2023 Generation Skipping Tax Exemption: increased [...]

By |2024-01-22T20:10:52-07:00January 15th, 2024|Annual Estate Plan Updates, Past Newsletters, Federal Estate Tax, Entity Formation, Business Services|Comments Off on January 2024 Estate Planning Update

The Corporate Transparency Act (CTA) – New Year. New Requirements.

Beginning January 1, 2024, the US Corporate Transparency Act (CTA) will require corporations, limited liability companies, limited partnerships, trusts and other similar entities to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau within the US Department of the Treasury. The CTA aims to enhance financial transparency and strengthen anti-money laundering [...]

By |2024-01-18T19:14:48-07:00January 1st, 2024|Past Newsletters, Entity Formation|Comments Off on The Corporate Transparency Act (CTA) – New Year. New Requirements.

August 2023 Estate Plan and Corporate Records Update

Scottsdale couple desired to update their estate plan and corporate records.  Complicating the planning were a mix of community and sole and separate assets, including a legal practice, long-standing construction company, children from a previous marriage and less than complete corporate records.  DeAngelis Legal worked with the couple to identify their objectives, discuss alternatives and [...]

By |2024-01-18T19:46:12-07:00September 15th, 2023|Entity Formation, Recent Projects, Estate Planning, Homepage|Comments Off on August 2023 Estate Plan and Corporate Records Update

June 2023 Entity Formation

Long time physician client decided to pursue temporary short term “locum tenens” work in lieu of W-2 employment at a hospital. DeAngelis Legal reviewed the client’s objectives, evaluated alternative forms of entity (corporation, llc, or llp) and prepared and filed the documentation necessary to form an Arizona corporation with a Subchapter “S” election. The client’s [...]

By |2023-07-09T12:15:05-07:00July 15th, 2023|Recent Projects, Entity Formation, Business Services, Protecting Family Wealth|Comments Off on June 2023 Entity Formation

April 2023 Corporate Restructure

A new Arizona resident desired to move their real estate business to Arizona from out of state. DeAngelis Legal worked with the client to evaluate alternative business structures, balancing income tax, estate tax and liability concerns. DeAngelis Legal drafted the new entities, domesticated entities from their home state and authorized other entities to do business [...]

By |2023-07-09T11:47:38-07:00May 15th, 2023|Recent Projects, Entity Formation, Business Services, Protecting Family Wealth|Comments Off on April 2023 Corporate Restructure

Corporate Records

Why do we spend so much time and energy on updating corporate records? Soon after the entity is created, business owners move on to growing their business and often fail to pay attention to the details of maintaining proper corporate records.  As a non-priority item, these tasks get pushed down and forgotten until an event [...]

By |2023-05-17T17:54:49-07:00April 20th, 2023|Past Newsletters, Entity Formation, Succession Planning, Protecting Family Wealth|Comments Off on Corporate Records

February 2023 Statutory Agent Update   

DeAngelis Legal, LLC acts as Statutory Agent for entities created or authorized in Arizona, as an add-on service to clients.  This way we will get notice before any adverse action against the entity.  In preparation for our move, we updated the Statutory Agent and address of over 100 entities in Arizona with the Arizona Corporation [...]

By |2023-05-12T19:59:47-07:00March 15th, 2023|Entity Formation, Recent Projects, Business Services, Protecting Family Wealth, Homepage|Comments Off on February 2023 Statutory Agent Update   

November 2022 LLC Formations

DeAngelis Legal created three new investment holding companies for three separate clients in Scottsdale, Phoenix and Mesa.  The entities will be used to hold real estate and private equity investments.  Two entities were created to be disregarded for tax purposes and the third has several family members and therefore is taxed as a partnership.  DeAngelis [...]

By |2023-01-23T15:19:02-07:00December 15th, 2022|Entity Formation, Recent Projects, Business Services, Protecting Family Wealth|Comments Off on November 2022 LLC Formations

October 2022 LLC Operating Agreement Review

DeAngelis Legal performed a comprehensive review and edit of a proposed multi-member LLC operating agreement on behalf a new client.  The client asked DeAngelis Legal to provide input on the operating agreement.  DeAngelis Legal provided a memo with additional questions and substantive comments and edits regarding management, capital contributions, purchase options and purchase price valuation.

By |2022-11-13T14:55:02-07:00November 15th, 2022|Entity Formation, Recent Projects, Homepage|Comments Off on October 2022 LLC Operating Agreement Review