Your business’s real estate: Avoiding a costly mistake

Description

Abstract: Many businesses choose to separate ownership of the building and real estate from the business itself. The strategy shields these assets from claims by creditors if the company ever files for bankruptcy. And the property is better protected against claims that may arise if a customer is injured on the property and sues the business. This article briefly discusses the tax angle of such a move and its implementation. The challenges of family owned businesses are also discussed.