Recent News
Blog articles from the attorneys at Stross Law Firm, P.A. with topics related to estate planning, business law, real estate, probate and trust administration.
Business Succession Planning – “Someday” Is Now
Business owners can be so concerned with day-to-day operations they fail to prepare for the inevitable day when they can no longer run their business. "Someday I'll get to it." Someday is now. There always seems to be time until there is no more time. According to...
How to Prepare to Meet with a Business Attorney
Businesses are governed by laws and regulations that affect nearly every aspect of their operation. From formation, hiring, and firing, to drafting contracts, resolving disputes, and dissolving or selling the company, numerous legal matters arise during the lifetime...
Hobby or Business: What Factors Does the IRS Consider?
There are activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no expectation...
Family Dynamics and the Family Home When a Parent Dies
Family dynamics can change drastically when a parent passes away. If a surviving spouse remarries, the question of what happens to the family home can make the dynamic among the children and the new spouse complicated. As a part of the estate plan, setting up a trust...
What are the top 4 estate and business planning concerns for 2022?
Earlier this year, two respected estate and business planning organizations, WealthCounsel and Trusts & Estates magazine, surveyed over 500 estate planning professionals to see what opportunities and challenges their clients face. The results from the survey...
When are you personally responsible for your business’ federal income taxes?
Case Study: Arthur formed a corporation called Pick-Ups, Inc. Arthur was the corporation's sole director, officer, and shareholder. The federal government sued Arthur, his wife, and the corporation to collect federal taxes. The court found the corporation was Arthur's...