These are Donna Berkelhammer's posts

‘S Wonderful, ‘S Marvelous, ‘S Unreasonable

One of the reasons to choose an S-Corp instead of an LLC is tax savings.  An S-corp does not pay any taxes at the corporate level, but instead all income is passed through to the shareholders, who are responsible for a number of taxes on both salary and dividends (return on investment).

 

I Am Not Rich So I Don’t Need a Will and Other Estate Planning Myths

Many people draw up complicated estate plans to minimize the taxes they have to pay on their assets when they die. But people who are nowhere near the $5 million+ floor for estate taxes have very valuable reasons for having wills and trusts.

 

Striking the Right Balance in a North Carolina Non-Compete Can Be Tricky

North Carolina companies who rely on non-compete agreements to protect their trade secrets and proprietary information may want to review their agreements in light of two recent court decisions.

 

North Carolina’s New LLC Statute: Do We Need to Revise Our Operating Agreement?

North Carolina updated its Limited Liability Act effective January 1, 2014. One of the benefits of the limited liability company has been its flexibility. It is a creature of contract, allowing much more flexibility than the centralized corporation. The revised Act highlights this flexibility. The most notable changes that may encourage your company to review [...]

 

Significant Changes to the North Carolina Limited Liability Act

On January 1, 2014, the North Carolina Limited Liability Act was significantly overhauled.  Existing Chapter 57C was repealed and 57D was passed in its place.  Many of the substantive changes are highlighted below.

 

In NC and Virginia, Consumers Can Dispute Debts Verbally

If you routinely collect debts from consumers, you are probably familiar with the requirements of the federal Fair Debt Collections Act (FDCPA). Under this act, consumers who disputed a debt had thirty days after receiving a debt collection notice to notify the creditor or debt collector in writing that the debt was not valid.  Until [...]