Got A Property Tax Issue?

May 15th Annual Review Board Begins Hearing Protest.

Not sure what to do about a property tax issue you're facing? 

The deadline to protest is May 15th. You'll have an opportunity to have your property taxes reviewed by an Appraisal Review Board, ARB an independent panel of citizens responsible for handling protests about the appraisal district's work.  

Have you filed a homestead exemption?  You can inquire about exemptions at any time.  To see if you qualify for other exemptions visit HCAD.org.

If property taxes are a stretch for you, reducing your taxes and homeowners insurance gives you an advantage to lower your original or refinanced mortgage payments.  

It is a good idea to manage your property tax and homeowners insurance annually to avoid excess payments and maximize your savings.

Subscribe to our blog, we'll contact you for a policy review of your policies. 

Any Thoughts About A Successor For Your Business In Your Absence?

Have you thought about who could run your business when you can't?

For some, the considertion of someone else running your business "efficiently and profitably" can be a long and calculated thought.  For others, there may be someone already in mind like a family member already working in the business, an employee, or a respected competitor who would be willing to buy the business in an event you, the owner can not continue its operation due to terminal illness, disability or pass away.

Just like starting a business takes planning and execution, exiting a business should be planned before any emotional and burdensome decision-making event occurs.  It is important to know that if there is no exit strategy or business succession (transferring of ownership) plan in place, tangible and intangible business assets go to probate where the estate becomes the new owner of the business.  

All businesses (with the exception of Sole Proprietors) in any industry, size, and revenue should include business succcession planning to protect the business from potential loss if the owner(s) ever face terminial illness, disability or pass away.  

A DBA (doing business as), "Sole Proprietorship", can implement protection against financial loss by securing Key Man, Individual Disability insurance.  Because a sole proprietor conducts business in his/her name, the DBA ceases when the sole proprietor cease to exist. Example: "John Doe DBA JD's Lawn Service"

Implementing a succession plan for the business can minimize emotional and financial hardship on a spouse, children, parents, business partners and employees.  Evenmore, having a succession plan in place allows the business to operate with less downtime.  On a sentimental note, the legacy of its owner(s) can continue. 

In addition to the succession plan itself, it is incumbent upon the owner(s) to have funds allocated to finance the transaction of the decedent's percentage of ownership.  Business loans, insurance policies, business cash reserves, or current revenue can be resources to finance the transfer of ownership.

Who Will Be Your Successor In Your Absence?

Reach out to Morehead's Connections Consulting if you need an attorney to help you with business succession planning. Also, feel free to request a business continuity checklist to get started.

This post is not intended to give any legal advice to any of its readers. It is intended to bring awareness to business succession planning where the need should be considered.

Business Formation Services with CorpNet Now Offered Nationwide!

CorpNet Now Offering Business Formation Services Nationwide!

• New Entity Formations (DBAs, Corps, S Corps, LLCs, Non-Profits)
• Annual Compliance Monitoring and Filings
• Corporate Forms, Kits & Supplies
• IRS Forms & Filings (Tax ID Form SS-4)
• State Tax Registrations (SITW & SUI Filings)
• Registered Agent Services
• Trademark Search and Registration Services....and MORE in Any State!
  

Click here to book a free assessment and get your business started today!

How Important is Public Relations to Business Growth?

The art of planning communication strategies should be just as important to business growth as the business plan itself.  A business owner has to think about how the business will draw customers, clients, stakeholders, investors to perpetuate the growth of the business.  

Public relations and communication planning is the vehicle to create awareness, draw potential customers, and be observed by individuals and organizations that may acquire an interest in your business.
During your business development planning phases, a public relations plan should implemented to include communication, advertising, and community outreach initiatives.

The objective of an effective public relations plan should be used to:

• Send information to existing and potential customers about new innovative products or services;
• Inform your audience about promotions, events or just to share a milestone about you or your company;
• Keep your audience engaged about the success of your business;
• Inform stakeholuders about the financial status of your company, typically known as a year-end financial report;
• Last, but more importantly, your goal is gain favorable publicity with your audience.  

Public relations has many vehicles to employ to maintain a connection with your audience. It takes strategic planning and a customized plan to target your audience. Invest in a public relations firm that can help you develop and execute an effective PR plan for your business. It is definitely worth the investment.