brenden-kelley-law

Tender, Strong, and True: Irish Heritage, Cleveland, and the People Who Keep Us Anchored

Sun, 01 Mar 2026 10:00:02 GMT

March is Irish-American Heritage Month, and it always lands with me in a way that is hard to explain unless you have lived it. My Irishness is not subtle. Between the name (Brenden Patrick Kelley) and the fair skin, freckles, and the brown-and-red beard, I wear it on my sleeve. It gives me away before I even say a word.

But what matters more is what it has shaped in me: a sense of belonging, a love of story, and a belief that faith is something you live, not something you perform.

I had the chance to visit Ireland in October 2025, and it deepened that feeling. There is a groundedness there that I cannot quite put into a neat sentence, equal parts grit and warmth. It reminded me that resilience is not just pushing through. It is staying connected to what is true, staying close to your people, and coming back to your values when life gets loud.

Cleveland’s Irish story is bigger than the parade, but the parade matters

Cleveland’s Irish roots run deep. In the 1800s, Irish immigrants and refugees built lives here with hard work, faith, and a community that had to look out for its own. One of the best known examples is Irishtown Bend, a neighborhood perched above the Cuyahoga River that became home to generations of Irish immigrants.

If you know anything about Irish-American history, you also know the darker side of it: the suspicion, the stereotypes, the nativism, the “outsider” label that followed Irish Catholics in particular. Even the phrase “No Irish Need Apply” has its own complicated history. Some historians have argued it was overstated, while more recent research has documented real examples of it appearing in print and in hiring contexts, enough to confirm it was not purely a myth.

I did not live that struggle. I did not earn that hardship firsthand. But I benefit from what that generation built anyway: the neighborhoods, the parishes, the networks, the sense of “we.” Cleveland’s Irish community did what immigrant communities often do when the world is uncertain: they created their own support systems so their families could survive and then thrive. Irishtown Bend’s history is one local snapshot of that broader story.

And that is why, even if it is not the whole story, the St. Patrick’s Day parade still matters.

Cleveland’s parade traces back to the 1840s, and the tradition has been sustained and organized for generations through the United Irish Societies. It is not just a party. It is a public way of saying: we are still here, we belong, and we are proud of what we carry.

The memory I did not understand as a kid, but feel now as an adult

When I was a kid, my dad used to pull me out of school for the St. Patrick’s Day parade.

It was always the same routine. A “doctor’s appointment.” A wink. And suddenly I was walking out of class while everyone else stayed behind. I loved it for the simplest reason: it felt like I had been let in on something special. Like Irishness meant I was part of a group with its own language and its own inside jokes. It felt like belonging.

I did not understand then what my dad was really giving me.

He was giving me time. He was giving me a story. He was giving me a tradition that said, “Remember who you are, and remember your people.”

This March marks twenty years since he passed in January 2006, which also means it has been twenty years since I last got pulled out of school with a fake appointment and a grin. There are some milestones you never expect to notice until you suddenly do.

My dad, Michael V. Kelley, was a Cleveland lawyer, a founding partner of Kelley & Ferraro, and someone who built his career as an advocate for people who did not have much power. He was also the son of a Cleveland firefighter, which is one of those details that says a lot about where he came from and what he valued.

So when I think about those parade days now, I see them differently. They were not just about being Irish. They were about being rooted.

Notre Dame as a kid, and why traditions matter more than we admit

Some of my earliest experiences of belonging to something bigger than myself came through Notre Dame. I still remember sitting in the back seat on the ride home from games, watching the highway lights pass by the car window, tired in the best way. And I remember the feeling inside the stadium: tens of thousands of Irish and Catholics, families and alumni, strangers who did not feel like strangers. For a few hours, you were part of one thing.

The tradition that stayed with me most was the Alma Mater after the game, win or lose. The team would turn. The students would sing. The crowd would stay. It was not just school spirit. It was something closer to a ritual. You were reminded, in real time, that you belonged to a story you did not create, and that your job was to carry it well.

This past year I got to sing the Alma Mater as a student. My wife was with me and she asked why it was such a big deal. The only honest answer I had was that traditions hold meaning. They tie us together in ways not many other things can.

I had the same conversation with her about Catholic Mass. Why the standing, sitting, kneeling, bowing, the repeated prayers, the rhythm of it all. In my view, it is humility before God, yes. But it is also something else: it binds people together beyond our own bubble. It gives you a shared language when life has no script. It turns belonging into something physical. You feel it in your body.

And when you connect that to Irish heritage, it makes sense. So much of Irish history is a story of holding on. Holding on to faith. Holding on to community. Holding on to identity when the world tries to make you forget it.

Notre Dame’s founding, and the Holy Cross fingerprint behind the rituals

What I did not understand as a kid, and appreciate more now, is that Notre Dame’s traditions are not random. They flow out of a particular origin story.

Notre Dame was founded in 1842 by Father Edward Sorin, a young priest of the Congregation of Holy Cross who came to northern Indiana with a small group and a vision that was bigger than their resources. They built in the cold, in uncertainty, and with the stubborn belief that education and faith belonged together. The school grew from a frontier mission into a place that, for generations of Irish Catholics in America, became a kind of spiritual home. Not because it was perfect, but because it was consistent about what it stood for.

That is the Holy Cross fingerprint I keep talking about. It shows up in the insistence that formation is not only intellectual, it is personal. It shows up in the idea that faith is not ornamental, it is lived. It shows up in the rhythm of the place. The Dome. The Grotto. The Alma Mater after games. The standing and sitting and kneeling of Mass. None of it is accidental. It is a way of training the heart to return, again and again, to what matters.

And when I connect that to Irish heritage, it makes sense. Irish Catholic life has always had a strong sense of ritual and community. Not as empty repetition, but as structure that holds you when life does not. That is what drew so many Irish families to places like Notre Dame in the first place. It was not just a school. It was a signal: you belong. Your faith belongs. Your story belongs.

And that is why, when the Alma Mater calls Notre Dame “Our Mother,” it does not feel like poetry. It feels like identity.

Notre Dame, “Our Mother,” and the line I cannot shake

Once you understand that the traditions have a source, the words “Our Mother” in the Alma Mater land differently.

It is easy to hear that phrase and think it is sentimental. But that is not how it feels when you have lived it. “Our Mother” is formation. It is a reminder that this place is meant to shape you, not flatter you. It calls you back to standards when your own standards start to slip. It reminds you that belonging is not just being welcomed. It is being asked to become worthy of what you belong to.

That is why a single line from the Alma Mater has stayed with me: “tender, strong, and true.” Not as a slogan, but as a test.

Tender: How do I treat people when life is busy, when stress is high, when I feel stretched thin?
Strong: What am I willing to carry, and what am I willing to do the hard way, the right way, when it would be easier to cut corners?
True: Who am I when nobody is clapping? Who am I when it would be easier to perform than to be honest?

And here is what I have come to believe. Notre Dame is not perfect. The Irish are not perfect. My family is not perfect. I am not perfect. But a living tradition does not exist because it is flawless. It exists because it keeps calling people back. Back to community. Back to faith. Back to responsibility. Back to the better version of themselves, especially when life tries to pull them into something smaller.

Cleveland’s reminders, and what they are really for

Cleveland has visible reminders of Irish heritage, including places like the Irish Cultural Garden. I love that it exists, carved into the landscape as something worth honoring, not hiding. But the point is not the stone or the plaque. The point is what those reminders are trying to do to us.

They are meant to keep us connected. They are meant to keep us from forgetting the people who built what we now enjoy. They are meant to remind us that “we” is not just a word. It is something you protect and participate in.

That is also why the parade still matters. Not because a parade is the whole story, but because it is a public act of belonging. A way of saying: we are still here. We still carry each other. We still remember.

Heritage month, when it is done right, is not nostalgia. It is gratitude. It is remembering that people before us endured things we did not, built things we now take for granted, and held onto faith and community when it would have been easier to go numb. It is also a reminder that belonging is not something you hoard. It is something you build and then share.

What I hope we carry forward

And maybe that is the simplest lesson in all of this: the best parts of tradition are the parts that bring you back.

As we head toward St. Patrick’s Day, I keep coming back to the same quiet thought: I want to live in a way that honors what I have been given.

I’m not afraid to share it out loud. If we don’t, it disappears. Traditions survive because somebody is willing to carry them in public, to invite other people in, to say: this matters. The caution, at least the one Jesus gives us, is about motive: “Be careful not to practice your righteousness in front of others to be seen by them” (Matthew 6:1). At the same time, we’re also called not to hide the good: “Let your light shine before others” (Matthew 5:16). The line for me is simple: am I sharing this to be seen, or am I sharing it so something good gets remembered and passed on?

So here’s what I’m aiming for. To show up tender, strong, and true with the people I love. To stay connected to what matters when life gets loud. To remember that belonging is not something you hoard. It is something you build, protect, and share.

And maybe, if I am lucky, to pass down to the next generation something like what my dad gave me, a tradition that looks small on the surface, but becomes a compass over time.

Because that is what heritage is at its best.
Not a costume.
A direction.

One last note

If you’ve read this far, you’ve probably noticed this sounds different than my usual blog posts. Most of the time this space is for practical legal topics and plain-language guidance. But this month, and these memories, pulled something else out of me. I wrote with what I had.

So consider this a small detour, and maybe a small introduction. If you’re used to seeing me only in the context of work, you’ve now gotten another view of me, where I came from, and what I’m trying to carry forward.

BusinessRate.com Ranks Brenden Kelley Law Top 3 in Cleveland (44114) for 2025

Tue, 30 Dec 2025 22:08:19 GMT

I have a simple update I am genuinely proud to share: Brenden Kelley Law was ranked Top 3 of 2025 among law firms in Cleveland, Ohio (44114) by BusinessRate.com.

If you have ever rolled your eyes at “best of” badges, I get it. What made me take this recognition seriously is the scoring behind it.

What BusinessRate measures (and why it is different)

BusinessRate uses a BusinessRate Score that is meant to go beyond simple star ratings. The score compares businesses within the same category and geographic area , so you are measured against local peers, not a national pool.

Their scoring is built from three components:

All-Time Reviews Score (60% weight): your full review history and long-term consistency
Recent Reviews Score (33% weight): a 90-day window that captures current momentum
Review Quality Score (7% weight): the depth and substance of the reviews, not just the number

In other words, it rewards a mix of consistency over time, how you are doing right now, and whether people are leaving real feedback that actually says something.

What our score tells me (and what it tells you)

On Google, our firm has built a 5.0 average rating with 26 reviews since 2023 , and we score well on review quality. In BusinessRate’s system, that long-term consistency and the substance of the feedback are major strengths. At the same time, our “freshness” is where we have the most room to grow. BusinessRate puts real weight on the last 90 days. If a firm is not getting recent reviews, the model notices.

That is why I am going to say this plainly:

Help us be #1 in 2026: leave a review

If you have worked with us and you have been meaning to leave a review, I would be grateful if you did it now. It does not need to be long. A few sentences about what we helped with and what the experience felt like is more valuable than you might think.

Here is the direct link to leave a Google review: https://g.page/r/CWpzE8vqeplEEBM/review .

The part that matters most

A ranking like this is never a solo act.

To my clients: thank you for trusting me and our team when the stakes were real. And thank you to the clients who took an extra two minutes to write something specific. Those detailed reviews do more than boost a score. They help the next person figure out whether they have found the right fit.
To my team: you make me look good. Period.
And to my colleagues who refer clients and speak highly of our work: I do not take it lightly. I would not be here without a lot of help.

Want to see the full report?

You can view the full BusinessRate report here .

Brenden Kelley Recognized Again in 2026

Mon, 29 Dec 2025 22:47:14 GMT

Super Lawyers Rising Stars, Best Lawyers: Ones to Watch, and Litigation Counsel of America

Every year I get a fresh reminder that the work we do is not theoretical. It is personal. Clients come to us when a deal, a business, a family plan, or a career is on the line. They deserve straight answers, real strategy, and a lawyer who takes the outcome seriously.

With that in mind, I am proud to share three recognitions that carry into 2026:

First, I was again selected to the 2026 Super Lawyers Rising Stars list in Business and Corporate Law . Super Lawyers uses a patented, multiphase selection process that includes peer nominations, independent research, and peer evaluations. Rising Stars recognition is limited to attorneys who are 40 or younger or in practice for 10 years or less , and it represents no more than 2.5% of eligible attorneys in a state. Learn more about the Super Lawyers Selection Process here .

Second, I remain recognized by Best Lawyers: Ones to Watch (2024–2026) . Best Lawyers is “Purely Peer Review,” meaning the recognition is based on confidential peer feedback within the same geography and practice area. Best Lawyers Ones to Watch applies that peer review approach to highlight excellence among lawyers earlier in their careers. Learn more about the Best Lawyers Methodology & Process here .

Third, I continue as a Litigation Counsel of America Fellow (2024–2026) , an invitation-only honorary society with membership limited to 3,500 Fellows , representing less than one-half of one percent of American lawyers. Lean more about the Litigation Counsel of America here .

I share these not to collect badges, but because they reflect the standard we try to live up to at Brenden Kelley Law: high-caliber work, clear communication, and real advocacy. We are a small team, but we work hard to punch above our weight class, and to treat every matter like it belongs to someone we know.

If you are a client, colleague, or friend who has trusted me, referred work, or helped me grow into this role, thank you. I would not be here without a lot of help.

Consumer Law Issues for Dentists: What You Need to Know

Mon, 01 Dec 2025 16:08:15 GMT

Understanding consumer law is vital for dentists starting or running a dental practice. This guide explores key legal aspects, from informed consent to HIPAA compliance, ensuring your practice adheres to consumer law and avoids legal pitfalls.

Consumer Law and Informed Consent for Dentists

One of the most important issues for dentists is obtaining informed consent from patients before performing any dental procedure. Informed consent requires that you provide detailed information about the proposed treatment, viable alternatives, and any foreseeable risks of the procedure. It’s essential to address all patient inquiries and secure a signed informed consent form from them. Failure to obtain informed consent can result in legal action. If you’re unsure of the requirements where your practice is located, consult a dental lawyer.

Upholding Dental Patient Rights

As a dentist, you must uphold dental patient rights, as set forth by the Ohio licensing board. This includes standards related to care, reporting, records, and other dental patient rights issues. Any violations of these rights can lead to sanctions and lawsuits.

HIPAA Compliance: A Consumer Law Perspective for Dentists

HIPAA sets the standard for protecting sensitive patient data, including dental records. This means that you must take the necessary steps to protect physical and digital records and information regarding patient diagnosis and treatment. Confidentiality of patient data is paramount unless explicit written consent is provided for disclosure to third parties like insurance companies.

Dental Malpractice and Clinical Negligence

Dental malpractice claims may emerge if there’s a deviation from the widely accepted care standards during patient treatment. This can result in nerve injuries, failure to diagnose oral cancer or periodontal disease, and wrongful tooth extraction. If you’re facing a dental malpractice lawsuit, consult a malpractice lawyer immediately. Resolving clinical negligence lawsuits can be expensive and complex, though they are generally covered by malpractice insurance.

Associate Agreements: What to Look Out For

When considering associate agreements, carefully assess the merits of the offer and scrutinize for any limiting clauses, such as transfer of ownership of patient charts, non-solicitation provisions, and non-compete clauses. If you’re unsure of the potential legal implications of an offered associate agreement, discuss the contract with an attorney.

Practice Buy-Ins and Partnership Agreements: Know What You’re Getting Into

Partnership contracts determine aspects like tax obligations, legal liabilities, management duties, and several other business elements. It’s important not to sign such a document unless you are sure that all the legal consequences are in your best interests—or at the very least that you are fully informed of their consequences.

In conclusion, adhering to consumer law in the dental field is essential. From informed consent to HIPAA and malpractice, understanding these legal aspects is crucial for the smooth operation of your dental practice. For assistance in navigating consumer law in dentistry, contact Brenden Kelley Law at 216-644-3359.

Brenden Kelley Named Associate Fellow of the Litigation Counsel of America

Mon, 09 Jun 2025 23:42:25 GMT

We are excited to share that Brenden Kelley has been named an Associate Fellow of the Litigation Counsel of America (LCA) earlier this year. This prestigious recognition highlights Brenden’s exceptional skills and accomplishments in litigation and trial work.

About the Litigation Counsel of America

The Litigation Counsel of America (LCA) is a close-knit, peer-selected honorary society that represents less than one-half of one percent of American lawyers. Comprising 3,500 of the best trial lawyers, the LCA is an invitation-only network that recognizes excellence among American litigation and trial counsel across all segments of the bar. The society promotes superior advocacy, ethical standards, and community involvement.

Selection Process

Membership in the LCA is highly selective and based on a rigorous evaluation process. Fellows are chosen based on their effectiveness and accomplishments in litigation and trial work, along with their ethical reputation. The LCA emphasizes diversity and inclusion, ensuring a broad representation of demographics within the legal profession.

Brenden Kelley’s Achievement

Brenden Kelley’s inclusion as an Associate Fellow of the LCA is a testament to his dedication and outstanding contributions to the field of litigation. As an Associate Fellow, Brenden joins a distinguished group of lawyers recognized for their superior skills, ethical standards, and commitment to the profession.

We are proud to have Brenden Kelley lead our team at Brenden Kelley Law. His recognition by the LCA underscores his exceptional talent and dedication to providing top-notch legal services to our clients.

Selling Your Business vs. Succession Planning: Key Differences

Mon, 09 Jun 2025 23:41:19 GMT

If you are retiring and own a business, you have various options. Many people choose to sell the business, but you might also choose to set up a succession plan to pass the business on to somebody else. Whether a member of the family or another person you have been grooming to take over.

Which strategy is right for you? Selling your business or setting up a succession plan is not an easy choice. You need to think through all of the implications to choose the right fit for you, your business, or anyone who might take your business over.

Pros of Selling Your Business

Selling your business can finance your retirement by providing a handy nest egg. It can take a lot of stress from your family. They will know you can afford what you need to live well in retirement. It can also be a weight off of your mind.

You won’t have to worry about the business anymore and can move on with the next chapter in your life.

Cons of Selling Your Business

The biggest downside of selling your business outright is that you won’t have any control over what might happen with it in the future. The new owners can do what they like, including selling out to a major corporation, firing everyone, cutting pay, or destroying your business’ hard-earned reputation.

If you aren’t happy with selling, then it’s time to develop a succession plan .

Options for a Succession Plan

Many people want to pass their business on to their children. However, your children might not be interested in running a business, or might already have business interests that suit their tastes. Passing the business on to a family member who does want it, such as a nephew, niece, or cousin is another option.

Here are some options you might want to consider:

Management Buyout

You have worked hard to build a fantastic business with a good reputation and strong independence. An option to make sure it continues that way is to set up a management buyout. This means you sell the business to the people you have hired to run it for you. Managers will purchase stock and the company will buy the rest. When done properly, a management buyout keeps the business running exactly how it was. Customers and employees will see few changes.

You can also sell part of the business to the employee stock option plan (ESOP), which gives retirement benefits to your employees, and combines well with a management buyout.

Transferring With a Buy-Sell Agreement

This is done to transfer the business to an appointed individual, family or not, at a set price, with a legally binding contract. This is an outright sale, but you can add some conditions and carefully choose the person you are selling to. Also, this is a good option if you want to sell the business to a specific, chosen successor.

Private Annuity

A private annuity means you transfer your portion to buyers or family members, who pay you for the rest of your life. This removes the business as an asset from your estate, and can thus significantly reduce gift or estate taxes. Talk to your tax advisor to make sure you set this up right.

Things to Consider

The first thing to consider is whether anyone in your family is interested in the business. Ask, don’t assume. Your daughter might sell her business to take over the family venture. On the other hand, a family member may have worked in the business their entire life, but have no interest in being in charge.

There are other things you should take into account:

The value of your business. Knowing what your business is worth can help you make decisions. For example, if your business has dipped below the lifetime gift limit, but you are confident it will recover, giving it to a family member can be an option.
Do you have a successor? Is it a family member? Is it a long-time, valued employee? Can you transfer ownership gradually, essentially partnering with them before you step back? This can reduce the period of vulnerability businesses tend to experience when transferred.
Do you want to continue to “keep a hand in?” If this is the case, you may want to avoid outright sales to a stranger so you can continue to keep an eye on things. It’s best to sell to somebody you trust or do a management buy-out.

Preparing for Unplanned Succession

Anything can happen. Even if you’re young and healthy, it’s a good idea to put a succession plan in place. Many healthy businesses have closed because the owner died without making a plan for who was going to take over. That plan might be to instruct your estate to sell. It might be to put the business under the control of an employee and place it in trust while your heirs sort things out.

Keep a finger on the pulse of what your family thinks about the business so you can make proper provision. Bear in mind that estate taxes can be hard to avoid if you die suddenly. Slowly transferring ownership so your remaining share stays below the limit can be a useful tactic, but make sure you talk to your lawyer and tax advisor about it.

If you have a business, you must decide whether to sell it when you retire (or die) or pass it on through a succession plan. This can be complicated, and you should get professional help. At Brenden Kelley Law, we represent small businesses and their owners and can help you design a succession plan that makes your business survive and thrive once you step back. Contact us to schedule an appointment and find out how we can help you.

5 Potential Mistakes With Dental Employment Contracts

Mon, 09 Jun 2025 23:39:52 GMT

What are 5 potential mistakes with dental employment contracts? Owning your own dental practice is a lot of work, but it’s also very rewarding. Whether you’re a first-time dental practice owner or someone who’s been in the business awhile, it’s important that you understand how to craft a dental employment contract for your employees. If you’re ready to hire employees, then you need to know what mistakes to avoid when writing up contracts for your future employees. At Brenden Kelley Law , we want to make this process a little bit easier for you, so we’ve compiled some information about dental employment contracts and a list of dental employment contract mistakes that you should avoid.

Top 5 Mistakes Dental Practice Owners Make When Writing Up Contracts

Not Specifying Whether Your New Hire Is an Employee or an Independent Contractor

Despite the overuse of the word ’employee,’ the term refers to a very specific kind of worker at your practice. To be an employee means that you are paid a certain way to comply with tax laws and that you are bound to a certain set of rules. These are based on the conditions laid out in your contract.

Oftentimes, practices are looking to hire employees to work for them—whether they work full-time or part-time. However, there are some instances where employers will want to hire independent contractors. These are employees who are usually paid via 1099s. You need to lay out whether the new hire is an employee or an independent contractor in their contract.

Leaving Out Termination Information

Do not assume that every person you employ will leave your practice amicably. As such, you must think about what constitutes termination, and how your employees should behave after they’re terminated. In each employment contract, specify what sorts of actions can lead to termination.

In addition, put parameters on what the relationship can look like between employer and employee after the employee reaches termination. You don’t want former employees trespassing or taking patients and staff with them.

Forgetting to Include a Non-Solicitation Clause

This mistake happens frequently, and it can be detrimental to the health of your practice. Dentists, office managers, dental hygienists, cleaning staff, and other employees are all crucial to the success of your practice. So, if one of your dentists leaves the practice to open their own, and decides to take two other dentists, an office manager, and half your hygienists and cleaning staff, your practice will suffer.

To avoid people from your practice soliciting your staff after leaving the job, ensure that you put a non-solicitation clause in your dental employment contacts. A non-solicitation clause will also ensure that people from your practice do not take your patients with them to their new practice.

Being Vague With the Descriptions of the Employee’s Duties

To ensure that your employees are complying with the standards correspondent with their roles, you need to be very descriptive when you’re outlining their duties in each contract. If you are vague with what you expect of your new employees, you risk having negligent employees, and, even worse, you’ll have no grounds to take action on negligent employees. It’s always better to be thorough when listing duties, as opposed to vague.

Not Mentioning Information About Liquidated Damages

Including a liquidated damages clause ensures that you’ll have enough compensation for any breach of contract. However, what is special about a liquidated damages clause is that it doesn’t require the employee to prove their damages.

If you have a liquidated damages clause and your employee goes against your contract, however, they do so, they will have to pay you a certain amount of money for a certain amount of time, depending on what is in your contract.

Don’t Put Your Dental Practice at Risk, Reach out to Brenden Kelley Law Today

We hope you learned a lot regarding dental employment contracts. We have gone over some information about dental employee contracts and five different mistakes that uninformed dental practice owners often make when they are writing up contracts for new employees. Even with the information you’ve just been presented, it is helpful to have a professional help you draft your contracts. So, if you want to protect yourself, reach out to Brenden Kelley Law, and we can help you determine what’s best to include in your dental contracts.

Business Finances: 7 Tips for Successfully Managing Them

Mon, 09 Jun 2025 23:38:59 GMT

What are some tips for successfully managing business finances? Financial management is a vital aspect of running a profitable small business. From meticulous planning and budgeting to monitoring cash flow and making data-driven decisions, effective money management strategies can spell the difference between thriving and barely surviving.

In this guide, we explore essential tips for business financial planning, equipping you with the insights and tools to take control of your finances.

1. Keep Personal and Business Finances Separate

One of the most common mistakes business owners make is mixing business and personal finances. While it can be tempting to use a single bank account, this can lead to problems down the line. Mixing personal and business finances can lead to the corporate veil being pierced, leaving you liable for your business’s debts. It also makes for an accounting nightmare. How will you remember if a charge 8 months ago was a personal lunch or a business meeting?

So, what can you do to prevent this? Set up a separate business credit card and bank account. This separation makes it easier to calculate taxes, track expenses, and maintain proper financial records. It also protects your assets from your business liabilities.

2. Develop a Comprehensive Budget

If you fail to plan, then you plan to fail. Without a clear direction for your enterprise’s finances, it will be impossible to accomplish your goals. A business budget is key to setting realistic revenue and expense expectations.

Create a comprehensive budget that includes all expenses and revenue streams. Ensure you include fixed costs like salaries, rent, and utilities, as well as variable expenses like maintenance and marketing. A budget can help you see the money coming in vs. going out, which can help you avoid overspending. It’s important to review your budget regularly and adjust it based on your business’s performance.

3. Cash Flow Monitoring

Cash flow is vital for any small business. It encompasses the money going in and out of a company daily. Many small businesses fail due to a lack of cash flow management . Thus, small business owners need to monitor their cash flow closely.

Here are some tips to ensure your cash flow remains healthy:

Invoice customers promptly and follow up on outstanding payments
Negotiate with suppliers to ensure you get favorable terms
Eliminate any unnecessary expenses
Create a cash reserve to ensure you are covered in case of an emergency
Take advantage of lines of credit and other such short-term loans

4. Keep Detailed Records

Record keeping is key to the success of your small business. This means keeping accurate and organized records of daily financial transactions, including data entries, receipts, and invoices. Financial software like Quickbooks will make this process easier, or you can hire a professional bookkeeper to manage your financial records.

5. Review Your Financial Statements Regularly

It’s essential to understand and review your financial statements regularly. This includes the income statement, the balance sheet, and the cash flow statement. You can use these statements to make informed decisions, identify trends, and track your business’s financial health.

6. Keep Track Of Your Debts

Loans can be an excellent way to finance the growth of your business, but it’s essential to manage these loans wisely. Keep track of your credit score to ensure you can get approved for financing and land business contracts. To maintain a good credit score, ensure your business does not take on unnecessary loans and prioritize paying off any high-interest loans you may have.

7. Tax Planning

All businesses have to pay taxes, and the structure of your small business will determine how much you have to pay. Ensure you clearly understand your tax obligations and consult a professional to ensure you comply with IRS guidelines. With their guidance, you can enjoy tax credits and deductions to help reduce your tax liability. It’s also essential to stay up-to-date on current tax laws and obligations.

Unlock The Financial Potential Of Your Business

Small business financial management is key to success. Gain a competitive edge by implementing these proven business budgeting tips and seeking expert guidance when necessary. Do you need guidance in tax compliance or negotiating financing agreements? Contact Brenden Kelley Law today to learn how our legal services can support your business’s financial success.

Understanding the IRS Free File System: What It Means for You

Mon, 09 Jun 2025 23:37:37 GMT

The 2024 tax filing season has already come to a wrap. The IRS is consistently processing returns and issuing refunds to countless taxpayers. If you requested the October tax extension deadline, you may want to leverage the IRS Free File System to submit your returns for free.

What is the IRS Free File System?

IRS Free File System is a partnership between the IRS and public-private partnerships such as Free File Alliance, TaxSlayer, and TaxAct. The program allows eligible taxpayers earning below specified income to access various tax preparations and filing software for free. IRS Free File System is available each tax year from mid-January through the October tax extension deadline.

Who Is Eligible For the IRS Free File System

In the 2024 tax filing season, individuals earning $79,000 or less in 2023 qualify. This income threshold applies universally across all tax filing statuses, with the income limit referring to your adjusted gross income (AGI) and not gross income. Certain providers might impose supplementary conditions, like age restrictions or narrower income thresholds.

How do I access the IRS Free File?

You can access IRS Free File through the IRS.gov . All you require to use this is a computer and an email address.

Benefits of the IRS Free Filing System

Using the IRS Free File system to file taxes can offer several benefits. These include:

Cost savings: As mentioned, the program is free to use for individuals whose income falls below a certain threshold. This option saves money compared to hiring a tax professional or purchasing tax filing systems.
Faster filing : The IRS Free File system typically provides an easy-to-use online platform that guides you through the tax filing process step by step. It can be particularly helpful for taxpayers who may not be familiar with tax forms and procedures.
Security: The IRS system is operated by trusted tax preparation companies that adhere to strict security protocols to protect your personal and financial information.
Reduced errors : The software used in the program is designed to perform accurate calculations, reducing the risk of errors on your tax return. Ultimately, it helps you avoid potential penalties and audits due to mistakes.
Free tax help: Most Free File software providers offer customer support services to assist you with any questions and issues you may encounter during the tax filing process.

Contact Brenden Kelley Law

At Brenden Kelley Law, we are committed to providing expert legal representation for people and small businesses that want to protect their rights and interests in a complex legal landscape. We offer tailored, flat-free solutions that align with the budgets and requirements of startups. We also advise established businesses facing compliance issues or navigating new regulations that threaten their industry. Contact Brenden Kelley Law to see how we can help you and your business.

Brenden Kelley Named Best Lawyers: Ones to Watch® in America for 2025

Mon, 09 Jun 2025 23:36:28 GMT

We are thrilled to announce that Brenden Kelley has been named to the Best Lawyers: Ones to Watch® in America for 2025. This prestigious recognition highlights Brenden’s exceptional work in Business Organizations (including LLCs and Partnerships) and marks a significant milestone in his legal career.

About Best Lawyers

Best Lawyers is the oldest and most respected peer-review publication company in the legal profession. For over four decades, it has been regarded as the most reliable and unbiased source of legal referrals by both clients and legal professionals. Recognition by Best Lawyers is a significant honor, as it is conferred by peers in the legal field.

Peer-Reviewed Excellence

The recognition process for Best Lawyers is based entirely on peer review. Tens of thousands of leading lawyers confidentially evaluate their professional peers through exhaustive surveys. To be included in the Best Lawyers list, a lawyer must receive positive votes from their peers and maintain those votes in subsequent polls. Lawyers cannot pay to participate or be recognized by Best Lawyers, ensuring the integrity and authenticity of the recognition.

The Best Lawyers: Ones to Watch® Award

The Best Lawyers: Ones to Watch® awards use the same Purely Peer Review® methodology as the traditional Best Lawyers awards. This award highlights excellence in legal talent for lawyers who are earlier in their careers. Like the traditional awards, the “Ones to Watch” awarded lawyers are recognized for their work in specific areas of law.

Brenden Kelley’s Achievement

Brenden Kelley’s inclusion in the Best Lawyers: Ones to Watch® for 2025 is a testament to his dedication, expertise, and outstanding contributions to the field of Business Organizations. His commitment to providing exceptional legal services and his ability to navigate the complexities of business law have earned him the respect and admiration of his peers.

We are proud to have Brenden Kelley as a part of our team at Brenden Kelley Law and look forward to his continued success and contributions to the legal profession. Congratulations, Brenden, on this well-deserved recognition!

5 Best Estate Planning Practices for Family-Run Dental Practices

Mon, 09 Jun 2025 23:35:05 GMT

When you own a family-run dental practice, a well-drafted estate plan becomes your most valuable tool for a smooth and secure transition to the next generation. A comprehensive estate plan takes a holistic approach to your family’s financial needs and the future of your practice. It provides:

Clarity and Control: Imagine a scenario where you pass away unexpectedly. Without a clear plan, your ownership in the practice could be thrust into probate, a lengthy and public court process. A good estate plan avoids probate, ensuring your wishes are followed promptly and efficiently.
Family Harmony: When family members are left guessing about your intentions, conflict can easily arise. A comprehensive plan clearly outlines who inherits what, minimizing confusion and potential disputes.
Business Continuity: You’ve poured your heart and soul into building your practice. A well-crafted estate plan guarantees a smooth handover to your child, safeguarding the legacy of your practice and ensuring continued care for your patients.

To create such a comprehensive estate plan, consider the following best estate planning practices.

1. Business Succession Planning for a Family Legacy

A comprehensive estate plan for your family-run dental practice goes beyond simply identifying heirs. It needs to incorporate a well-defined business succession plan , ensuring a smooth and successful transition of ownership and management to your child’s dentist. Here’s why succession planning is crucial within your estate plan:

Structured Handover: Without a clear plan, your child might face challenges taking over the practice. Succession planning outlines a step-by-step process, allowing them to gain experience, build relationships with patients, and demonstrate their readiness to lead.
Financial Security: Integrating a buy-sell agreement within your estate plan establishes a fair price for your ownership stake. This ensures your family receives appropriate financial compensation while providing your child with a clear path to owning the practice.
Employee and Patient Stability: A well-defined succession plan minimizes disruption for staff and patients. Knowing who will be taking over instills confidence in the future of the practice, fostering continued loyalty and patient satisfaction.

2. Legal Considerations

Estate planning for a family-run dental practice requires going beyond standard estate planning strategies. There are unique legal considerations specific to the dental industry that must be addressed to ensure a seamless transition. Unlike traditional family businesses, you need to be a dentist to continue to operating the business. If your heirs are not, they will need to find a dentist to keep the practice going. An estate planning attorney can help you navigate these regulations and develop a plan that complies with state licensing laws.

The legal structure of your practice (sole proprietorship, partnership, LLC) has implications for ownership transfer. An LLC offers the most flexibility for succession planning within the family, allowing you to specify ownership percentages for your child in the operating agreement.

In addition, the value of your dental practice hinges on your reputation, patient relationships, and your child’s skills as a dentist. This “perishable” aspect requires careful planning:

A well-defined succession plan that involves your child working alongside you fosters patient familiarity and trust. This helps ensure a smooth transition and minimizes the risk of patients leaving the practice.
If you have associates or partners, consider non-compete agreements as part of your estate plan. This can prevent them from setting up a competing practice nearby, safeguarding your patient base for your heirs.
Life insurance can play a crucial role in funding your child’s purchase of the practice through a buy-sell agreement. This ensures your family receives fair compensation while mitigating the financial burden on your child.

3. Letter of Direction

A Letter of Direction, though often overlooked, can be a powerful tool for ensuring a smooth transition for your family-run dental practice. It’s a non-legally binding document where you express your wishes, preferences, and additional details that may not be included in your formal estate documents. A Letter of Direction:

Provides a roadmap, clarifying your preferences for managing the practice during the transition period
Outlines a preferred timeline for your child to fully take over the practice
Guides your executor on how to best communicate the transition to patients
Expresses your vision for the future of the practice, emphasizing the values you want your child to uphold

4. Will and Revocable Living Trust

While a will is a cornerstone of estate planning, it’s not the most efficient tool for family-run dental practices.

A will acts like a roadmap, outlining how you wish your assets, including your ownership stake in the dental practice, to be distributed after your passing. It names your beneficiaries (who inherits what) and your executor (the person responsible for carrying out your wishes).

However, a major drawback of a will is probate. Probate is a court process that validates your will and oversees the distribution of your assets. This can be time-consuming, expensive, and public, potentially delaying the inheritance process for your family.

A revocable living trust offers a more efficient solution. You transfer ownership of your assets, including the dental practice (or its membership units if it’s an LLC), to the trust while you’re still alive. You, however, retain control during your lifetime, managing and benefiting from the assets.

The key advantage? The trust avoids probate upon your passing. Since the assets already belong to the trust, they bypass the court process, ensuring a faster and more private inheritance for your child. This is especially beneficial for your family practice, minimizing disruption and ensuring a smooth transition of ownership. While a revocable living trust offers significant advantages, you must consult with an estate planning attorney to determine the best fit for your specific situation. They can guide you through the process of creating a trust and ensuring it aligns seamlessly with your overall estate plan and business succession goals for your family dental practice.

5. Real Estate Considerations

If your dental practice owns the real estate where it operates, you need to carefully consider the potential tax implications and the impact on the selling dentist’s capital gains in estate planning. Important tax implications to consider include:

Capital Gains Exemption: Selling the real estate after your passing could trigger capital gains taxes for your child. Consulting with a tax advisor can help you explore strategies to minimize this tax burden.
Sale or Lease: Decide whether it’s more advantageous for your child to own or lease the real estate. Owning offers long-term control, while leasing can free up capital for other needs. A tax advisor can analyze which option minimizes tax liabilities.
Estate Planning Coordination: Ensure your estate plan and business succession plan are coordinated regarding the real estate. This avoids confusion and potential conflicts over ownership and usage.

Secure Your Family Legacy and Your Thriving Family-Run Dental Practice

Now that you understand the best practices for comprehensive estate planning for your family-run dental practice, it’s time to take action. Partnering with an experienced estate planning attorney who works with family businesses gives you peace of mind knowing that your family’s financial future and practice’s legacy is safe.

Don’t wait until it’s too late. Schedule a consultation with Brenden Kelley Law today to discuss your specific situation and create a comprehensive estate plan that protects your family and ensures the continued success of your dental practice.

Side Hustle Game-Changer: What the IRS Knows About Your Gig Work

Mon, 09 Jun 2025 23:33:25 GMT

If you have a side hustle in addition to your day job, the IRS tracks and records your income from these ventures differently than your traditional role. The gig economy has exploded in recent years, with millions of people earning extra money through freelancing, consulting, selling goods online, driving for ride-sharing apps, and countless other entrepreneurial pursuits. However, the IRS has noticed and implemented new 1099-K reporting thresholds that could impact how you file your taxes. Here’s what you need to know.

The New 1099-K Reporting Threshold

Many side hustles and gig-based roles pay through third-party payment processing instead of direct deposit. This raised concerns for the IRS about tracking that income when gig work became popular.

In 2022, the IRS planned to adjust the reporting threshold for third-party payment processors such as Venmo, Paypal, and Cash App. In the past, these platforms were only required to issue a 1099-K form to users with over 200 transactions and $20,000 in payments for the tax year, though processors were free to send 1099-K forms to all users, even if they did not meet the threshold. IRS changes sought to reduce that threshold to $600 in payments regardless of the number of transactions.

The magnitude of this change sparked concerns with reporting infrastructure, and the adjustment was delayed for tax year 2023. Starting with 2024 tax reporting, the IRS is phasing in the changes with a threshold of $5,000 in payments regardless of the number of transactions. Subsequent changes will be announced in future tax years to complete the transition.

Considering What This Means for Your Side Hustle

If you accept customer payments through any of these apps and exceed the $5,000 annual threshold for 2024, expect to receive a 1099-K in early 2025 summarizing your income. The IRS will also get a copy, meaning they can more easily cross-reference your tax return to ensure you’ve reported all taxable income from your gig work or small business. Also, be mindful of future changes as the IRS continues to reduce the threshold to reach its $600 target.

Protecting Yourself and Your Side Hustle

If you’re feeling overwhelmed by the new IRS side hustle reporting requirements, you’re not alone. Fortunately, there are steps you can take to safeguard your business and minimize your tax liabilities. Start by educating yourself on the specific IRS rules and thresholds that apply to your situation.

The new 1099-K reporting requirements highlight the importance of comprehensive, accurate, and detailed bookkeeping and tax planning for your gig economy taxes. Some key steps to take:

Keep detailed records. Maintain a spreadsheet or use accounting software to track all income and expenses related to your business. Hold onto receipts in case of an audit.
Understand your deductions. Many costs associated with running your side hustle may be tax-deductible, such as supplies, advertising, mileage, and home office expenses. Work with a tax professional to optimize your write-offs.
Make estimated tax payments. If you expect to owe over $1,000 in taxes for your side income, you may need to make quarterly estimated payments to avoid penalties.
Set aside funds for taxes. As a rule of thumb, allocate 25-30% of your net side hustle income to cover your tax liability. Transfer these funds to a separate savings account so you’re not caught off guard at filing time.

Are you concerned about your side hustle’s compliance with the new IRS rules? Contact Brenden Kelley Law for expert advice on keeping your business on the right side of the taxman. We can help you navigate the ever-changing tax landscape and avoid costly penalties and legal issues down the road. With a little preparation and guidance, you can keep your side gig running smoothly while minimizing stress come tax season.

Dental Contractors vs. Dental Employees: Key Differences for Business Owners

Mon, 09 Jun 2025 23:32:04 GMT

As you work through the details of establishing a dental practice, one of the key considerations you’ll encounter is determining whether to hire additional dental staff as contractors or employees. There are distinct legal and contractual differences that could have significant legal implications.

As your business begins to grow, so will your need for professional support, including dentists, dental hygienists, and specialists. Identifying the pros and cons of each type of employment when you create your business plan will help streamline the process and eliminate potential employment violations.

What Defines an Employee?

An employee is hired on either a part-time or full-time basis and fulfills the tasks defined in the job description. Employees agree to work the specified number of hours and accept the designated hourly wage or salary for which they are compensated on a regular pay schedule.

What Are the Advantages and Disadvantages of Hiring a Dental Employee?

When you hire an employee for your dental practice, you’re responsible for managing tax withholdings and employment benefits, including health insurance coverage, paid vacation days, sick leave, and retirement contributions. Your practice is also legally accountable for employees’ conduct during working hours.

Advantages of Hiring Dental Employees

Hiring an employee provides multiple advantages for your dental practice. Consider the following:

Dedicated, long-term employees help build your practice’s brand and reputation.
Reliable employees contribute to establishing patient trust in your practice.
Employees can create a cohesive company culture.
You maintain consistent service quality and control over job duties and hours.
As an employer, you can set the standard and train employees to follow specific protocols.

Disadvantages of Hiring Dental Employees

You’ll also need to consider the challenges of hiring an employee to enable you to make an informed decision.

You are required to manage employment-related obligations, such as payroll taxes and workers’ compensation.
The employer must continue paying regular wages and providing employee benefits, regardless of revenue.
The legal considerations involving termination can be complex.
You’re responsible for training and supervising employees.
Dental employees follow a set schedule that prevents the same degree of flexibility offered by dental contractors.

What Designates an Independent Contractor?

Independent contractors work within the parameters of the agreed-upon contract; however, as autonomous entities, dental contractors establish their work methods and set their hours, delivering greater adaptability. Contractors provide their tools, and they are responsible for managing their own insurance and tax obligations.

What Are the Advantages and Disadvantages of Engaging a Dental Contractor?

As with hiring employees, there are distinct advantages and disadvantages to engaging independent contractors.

Dental Contractor Advantages

While dental contractors’ fees might surpass the salaries of their employee counterparts. The overall financial savings can be significant when you consider the following:

Bookkeeping time savings
Responsibility for payroll taxes, including Social Security, Medicare, and workers’ compensation
Fewer legal ramifications, as state and federal employee protection laws don’t apply to independent contractors

Another notable benefit of hiring independent contractors is the dental practice is generally not vicariously liable for their actions. However, there are always exceptions. For example, a dental office that doesn’t adequately check a contractor’s credentials and references may be found negligent or if the activities the contractor was hired to perform are inherently dangerous.

The flexibility dental contractors provide allows you to manage temporary needs effectively. You might also appreciate the specialized services a contractor offers that others in your practice may not have.

Dental Contractor Disadvantages

While there are substantial benefits to hiring independent contractors, it’s also worthwhile to consider the disadvantages that accompany this type of employment.

As mentioned above, contractors’ rates are typically higher than employees’ wages to balance the lack of benefits. Following are a few more challenges you may experience when hiring independent contractors:

It could be more difficult to create a cohesive team environment.
You might experience scheduling dilemmas, as contractors may have to juggle availability between multiple clients.
You may find it difficult to monitor quality and consistency.

Prevent Misclassification of Independent Contractors

One of the foremost setbacks your dental practice could encounter is an audit that uncovers the misclassification of 1099 contractors and W-2 employees. You could face serious legal and regulatory repercussions if you mislabel an independent contractor who should be classified as an employee. The IRS, Department of Labor, and state agencies levy staggering fines for inaccurate designations. In addition to civil penalties, you could also be criminally charged. Noncompliance encompasses multiple areas, including:

Violating the Fair Labor Standards Act by failing to pay minimum wage and overtime
Failure to withhold and forward payroll, Social Security, and Medicare taxes
I-9 violations for misclassified independent contractors
Unpaid workers’ compensation and unemployment benefits
Failure to provide employee benefits, such as health insurance, retirement, and paid leave

The twenty-factor test the IRS uses to determine the appropriate classification provides an overview for you to distinguish the differences between employees and independent contractors. Correctly identifying who is performing the work helps prevent legal problems down the road.

With so much at risk, it pays to review your personnel expectations to ensure you adhere to proper hiring practices.

Select the Option That Works Best for Your Dental Practice

The IRS provides resources to help you distinguish between dental employees and dental contractors. The literature defines the legal expectations and responsibilities of each scenario to assist small business owners with tax and labor law compliance.

However, it is critical to consult with a Cleveland attorney who’s experienced with navigating the complexities of managing a successful dental practice. Contact Brenden Kelley Law at (216) 644-3359 to evaluate your options and assist you with making the personnel decisions that best serve your unique circumstances and protect your business.

Navigating Noncompete Clauses: A Legal Guide for Dentists

Mon, 09 Jun 2025 23:30:34 GMT

Nearly 6,000 dentists graduate annually in the USA. Dental office staff recruiters often include non-compete clauses in both employment agreements and contractual arrangements between dentists and their employers. The dental industry is one of the most entrepreneurial sectors of healthcare, and nearly every dentist fresh from school considers practice ownership at some point in their life. However, without careful examination, employment agreements, especially the non-compete clause, could severely impede one’s potential to establish a dental practice down the line. The experienced dental attorneys at Brenden Kelley Law provide comprehensive insights into dentist non-compete clauses, from understanding basic terms to handling disputes. Contact us today if you need legal help navigating a dental employment dispute related to non-compete clauses.

What Are Non-compete and Non-solicitation Clauses?

A non-compete clause, also known as a “restrictive covenant,” is a mechanism that aims to prevent an employee from entering into the same or similar line of business, either independently or for another employer, after their employment ends. It may be included as:

Scope: It outlines the geographical area, industry, and duration to specify where and for how long the employee is restricted from working.
Prohibited activities: The clause specifies the activities the employee is restricted from engaging in, including soliciting clients from former employers or working for an immediate competitor.
Consideration: refers to the compensation or benefits an employee receives in exchange for agreeing to the non-compete clause, such as a signing bonus or stock option.
Severability: Severability addresses what occurs if one part of the non-compete clause becomes unenforceable.

In contrast, a non-solicitation clause specifically targets dentist employees. It prevents them from actively trying to win over the employer’s fellow employees, customers, suppliers, or patients. Typically, such a provision addresses both the non-solicitation of fellow employees and patients within a single clause.

Why Do Employers Want Non-compete and Non-solicitation Agreements?

Generally, employers prefer not to see their dental staff open competing practices nearby, potentially drawing away patients. They may feel a sense of disappointment if employees they have nurtured and trained choose to depart. The employer uses the non-compete clauses to protect the practice from an employee-dentist who uses the connections and experience acquired during employment to establish a competing practice. Employers also argue that these clauses attract and reassure investors and safeguard their investment in human capital.

What Are the Implications of Non-compete Clauses on Dentist Employees?

Employers actively defend dentist non-compete clauses, arguing they’re essential to protect their practices and prevent employees from taking their skills to competitors. However, employees fiercely oppose these clauses, especially when loosely defined. They argue such restrictions unfairly limit their ability to find work within the dental field.

Here are some possible implications of non-compete clauses on employee-dentist:

Limited career mobility: Dentists bound by non-compete agreements may find their career mobility restricted. These clauses can restrict dentists from practicing their profession within a specific geographic area for a set period if they decide to change jobs or open their own practice. This hinders their ability to pursue new opportunities.
Reduced negotiating power: Non-compete clauses can weaken a dentist’s negotiating power when seeking new employment or negotiating terms with their current employer. A non-compete clause weakens a dentist’s bargaining power when negotiating salary, benefits, or working conditions.
Stifled innovation and entrepreneurship: Dentists with entrepreneurial aspirations may find it challenging to start their practices if they are subject to non-compete clauses. These clauses discourage innovation and competition within the dental industry by limiting dentists’ ability to establish new practices or offer specialized services.
Patient continuity: Non-compete clauses can disrupt the continuity of patient care. They can force patients to find new dentists, potentially disrupting ongoing treatment and severing established relationships with their preferred providers.

FTC and Non-compete Clauses for Dentists

Major Changes have just occurred with Non-competes, with new FTC rules going into effect soon. On April 23, 2024, The US Federal Trade Commission (FTC) voted to endorse a series of regulations known as the “Final Rule,” which will largely restrict the implementation of new non-compete agreements in employment settings and make many existing ones unenforceable. The FTC’s authority to enact the non-compete clause rule is expected to face legal challenges, which could stall or even halt the regulation’s

implementation. Despite this, the Final Rule is still on track to take effect by late August 2024. On July 24, 2024, U.S. District Judge Kelley Hodge in Philadelphia upheld the FTC’s ban on noncompete agreements. While the FTC’s ban has survived this legal hurdle more persist. It is important to stay up to date as these cases develop.

Common Mistakes That Employers Make with Non-compete Clauses

There are myriad parts in a dentist non-compete clause that practices should review to ensure it is legally sound and fair to all parties. When an employer makes the clause too restrictive, it may violate an employee’s rights, leading to possible lawsuits. Here are some typical mistakes employers make:

Broad restrictions: Non-compete clauses should be carefully crafted to safeguard the employer’s legitimate interests without being overly expansive. For instance, a clause that bars an employee from engaging in any related work worldwide for any company is likely unenforceable.
Lengthy clauses: Non-compete agreements exceeding a reasonable duration, such as two years, may be deemed impractical and excessively limiting.
Compliance with labor laws: Non-compete contracts must adhere to labor laws, including provisions against discrimination. Failure to do so could render the clause unenforceable and lead to legal repercussions.
Voluntary agreement: It is crucial to ensure that employees sign non-compete clauses willingly, without coercion from colleagues or superiors.
Regular updates: Provisions should be routinely reviewed and amended to stay relevant and in line with current legal standards.

Tips to Avoid Disputes on Non-compete Clause for Dentists

Here are some of the tips for employers to avoid non-compete clause disputes:

Carefully Draft the Non-compete Agreement

A good non-compete clause should be reasonable. Identify the interests you seek to protect and tie them to the employee’s post-employment interests. Your non-compete clause may be deemed unreasonable if the two can’t be reconciled. You should also clearly describe the prohibited activity, the geographic boundaries for the registration, and its time frame. Generally, the rule of thumb is to include restrictions spanning a maximum of 36 months. Restrictions extending to over three years are typically hard to enforce. Some non-compete agreements define the scope of the agreement using existing boundaries such as city limits or county lines . Others may set a radius of miles around a central point, such as a specific job site or the company’s headquarters.

Consult a Business Attorney

Non-compete clauses are typically complex and have many nuances to navigate. An experienced business attorney is well-versed in the intricacies of these agreements. They can ensure that the clause complies with relevant laws and regulations in your jurisdiction. A good non-compete clause should be tailored to the specific circumstances of your business and industry. An attorney can draft a precise and effective clause that protects your legitimate business interests without being overly restrictive.

Find a Mutually Beneficial Resolution

In case of a dispute, litigation may seem a plausible remedy to resolve the disagreement. However, lawsuits are risky and expensive for either party. As an employer, it may be best to find an early resolution that protects your interest. Undertake a risk-benefit analysis to determine the best cause of action if a former employee violates the agreement.

Carefully Interview Candidates

Before hiring a candidate from a competitor, determine whether they are bound by a non-compete agreement or other restrictive covenants, like a non-solicitation agreement. It is vital to inquire about any such restrictions at the earliest opportunity, during an initial meeting, a phone call, or a formal interview.

Contact a Business Attorney Today to Navigate Dentist Non-Compete Clauses

At Brenden Kelley Law, our experienced business attorneys can help you understand whether your non-compete agreement is enforceable and whether it is likely to apply to your specific situation. If you have a legal dispute with your employer or employee, we can also advise on the next steps to resolve the dispute. Contact us today to schedule a free consultation.

New Rules, New Responsibilities: The Corporate Transparency Act and You

Mon, 09 Jun 2025 23:28:53 GMT

The Corporate Transparency Act was passed in 2019, and updates requirements for many small businesses to report ownership details to the Financial Crimes Enforcement Network, commonly referred to as “FinCEN.” This rule is now being enforced against the majority of small businesses. It requires that you report Beneficial Ownership Information to FinCEN, that is the individuals with controlling interest in your business.

What Businesses Does This Apply To?

CTA compliance in 2024 applies to the vast majority of small businesses incorporated in the U.S. This means LLCs, S Corps, and C Corps, and is in addition to other LLC reporting requirements. Pass-through businesses taxed as individuals are not affected (as their ownership information is already being reported with their taxes). This includes if you have filed a DBA, obtained an EIN, or have a professional or occupational license.

23 types of entities are currently exempt. This includes publicly traded companies, certain large operating companies, and many nonprofits. However, these rules do not apply to the majority of small and medium-sized enterprises. However, you don’t have to file if your business is one of the following:

Money services business
Broker or dealer in securities, or any entity registered with the Exchange Act
Investment company or adviser
Venture capital adviser
Accounting firm
Inactive

It’s best to double-check with a legal or tax advisor before applying for an exemption, as you might well go to the trouble of applying and then have to file anyway. In most cases, exempt companies must file this information through other means. FinCEN enforces the Corporate Transparency Act and provides guidance.

What Is a Beneficial Owner?

The Act requires that you provide the identity of all “beneficial owners.” This means an individual who owns or controls at least 25% of the company and/or exercises substantial control over it. Beneficial owners are limited to natural persons, so trusts, corporations, or other legal entities are not beneficial owners.

“Substantial control” includes being a senior officer such as President or CFO, having the authority to appoint or remove officers, making important decisions, etc. Important decisions mean reorganizing the company, mortgaging a principal asset such as your office, and selecting or terminating business lines. List the person if in doubt.

Some individuals might be exempt from being listed. There are five exemptions:

The individual is a minor, so list their parent or guardian instead.
The individual is an agent of a beneficial owner, such as a tax advisor.
The individual is an employee, but not a senior officer.
The individual has a future interest through a right of inheritance, such as a will.

When Do You Need to Report By?

If your company was formed before January 1, 2024, you have until January 1, 2025, to file your report. Companies formed from January 1, 2024, have to file their report within 90 days of being formed.

If you have a change in beneficial owners, for example, if your CFO quits, file the update within 30 days. Also, file an update if certain information changes, such as if a beneficial owner moves.

What Are the Consequences for Not Reporting?

There are significant penalties for not reporting your BOI in the required timeframe. These could include civil penalties of $500 for each day you have a violation and potentially criminal penalties including imprisonment for up to two years and/or a fine of up to $10,000. Senior officers may be held responsible.

Individuals who refuse to provide the required information or update it (for example, refusing to update their address) may face civil and/or criminal penalties, and you should warn them appropriately.

The BOI report can be handled by most business owners with assistance from resources provided by FinCen. Visit their FAQ Page and their Brochure Introduction to Beneficial Ownership Reporting for more details. If you have questions about your reporting requirements or need assistance reporting, our team at Brenden Kelley Law can help you. Contact our office to schedule a meeting today.

Simplifying Your Legacy: Alternatives to Selling Your Ohio Business

Mon, 09 Jun 2025 23:27:08 GMT

Are you looking for alternative strategies for selling your Ohio business? For many Ohio entrepreneurs, their business is the manifestation of years of hard work; a financial asset, a source of pride, and a family legacy. However, when estate planning considerations arise, the characteristics that make your business valuable can introduce uncertainties. Should you sell your business to streamline your estate, create a succession plan, or maintain joint ownership with an adult child? These decisions have far-reaching implications for your financial future and your family’s legacy. It helps to explore other possibilities before making a decision that might have unintended consequences. Read on as we discuss estate planning for business owners in Ohio. We look at alternative strategies for selling your business, all designed to achieve a more secure estate for you and your loved ones.

Why Estate Planning for Business Owners Is Crucial

Contrary to popular belief, estate planning is not just about determining who inherits your assets after you pass away. It’s about securing your retirement, achieving your life goals, and ensuring your business thrives according to your wishes. For entrepreneurs, this means addressing potential estate tax, protecting business interests, and providing for their families.

A well-structured estate plan can minimize taxes and other expenses to preserve more of their hard-earned wealth for future generations. It also prevents conflicts among heirs and gives clear instructions for business management or sales.

Estate Planning Issues to Consider Before Selling Your Business

Before selling your business, bear in mind the following estate planning matters that could impact the transaction and your financial future:

Assess your business’s value. In this case, a professional business valuation is necessary as it provides a realistic assessment of your company’s worth. Valuations can be complex, involving various methods like income-based, market-based, and asset-based approaches. Work with a professional appraiser to determine the business’s sale price, potential tax implications, and distribution of assets among heirs.
Consider the structure of the sale. Different structures can have different tax consequences. For example, an asset sale may result in higher taxes than a stock sale. Consult with a financial advisor or estate planning attorney to understand the implications of each option.
Think about the timing of the sale. Selling your business during a peak market period can maximize the sale price. However, reflect on personal factors such as your health and retirement plans. An estate planning attorney can help you handle these issues and ensure your sale aligns with your overall estate plan.

A Spectrum of Estate Planning Options

Selling your business can unlock substantial financial resources. However, it also severs emotional and professional ties. Fortunately, other estate planning strategies can simplify your estate without requiring a complete exit:

Succession Planning

Instead of a clean break, how about nurturing a successor to take over the reins? It could be a family member with a passion for the business or a trusted employee with the skills and experience to lead. Succession planning allows for a gradual transition of ownership and management responsibilities to ensure the business’s legacy continues under your chosen successor’s guidance.

In some cases, passing the company to the next generation may not be feasible. Your heirs may lack interest or capability in managing the business, or there may be no suitable successor. In such scenarios, selling the company outright might be the best option.

It can provide liquidity that lets you diversify your investments and secure your financial future. Selling also eliminates the risk and responsibility associated with ongoing business operations. Brenden Kelley Law, a leading Ohio estate planning firm, can guide you through the legalities of creating a succession plan that benefits you and your chosen successor.

Joint Ownership

Another option is to bring in a co-owner, perhaps a child or another family member. This approach allows you to share the responsibilities of running the business while introducing a fresh perspective that can help it thrive.

However, joint ownership requires legal structuring to ensure clear lines of authority and avert future conflicts. A seasoned estate planning attorney at Brenden Kelley Law can draft a co-ownership agreement that protects your interests and sets the stage for a smooth transition.

Establish a Grantor Retained Annuity Trust (GRAT)

A GRAT is an estate planning tool where you, the grantor, transfer your assets into a trust to retain the right to receive annual annuities for a specified term. A GRAT can be beneficial because it enables you to transfer business interests to heirs while retaining an income stream for a set period. Doing so may reduce the taxable gift amount transferred to your beneficiaries and possibly lower your overall estate tax liability.

Set Up a Family Limited Partnership (FLP)

You can simplify your estate and possibly reduce tax burdens by establishing a Family Limited Partnership (FLP). An FLP lets you transfer business interests to family members while retaining control over the business operations.

The structure can provide tax benefits and help ensure the continued success of the business. Because FLPs can be complicated to set up and maintain, consult with an estate lawyer to determine if it’s an option that aligns with your circumstances.

Get Professional Guidance at Brenden Kelley Law

Selling your business may seem like the straightforward solution to simplifying your estate, yet it doesn’t have to be the only option. The alternative strategies discussed here can help preserve your business’s legacy and ensure your loved ones are taken care of. However, you need expert assistance.

Estate planning attorneys at Brenden Kelley Law can provide the guidance you need to make informed decisions. We will:

Work toward understanding your goals to develop a customized estate plan that simplifies your business’s role within your estate.
Be mindful of potential tax implications associated with your chosen estate planning for business owners’ strategy, and connect you with a tax advisor for further guidance.
Enable a seamless transition. Whether you sell, transfer ownership, or maintain co-ownership, our legal expertise ensures a smooth and legally sound transition for your business and beneficiaries.

Call us at (216) 644-3359 or complete our Online Contact Form to schedule a consultation and discuss various estate planning options that will refine your business’s role in your legacy.

Resources Provided by the IRS to Help Your Small Business

Mon, 09 Jun 2025 23:25:22 GMT

Navigating the complexities of running a small business and the process of filing taxes can be a daunting task. Many people don’t realize that accurate and helpful resources are at our fingertips. The IRS website is one of the most crucial yet often overlooked tools for small business owners or anyone looking for tax help. Follow along as we explore effectively utilizing IRS resources and helping you manage tax responsibilities with confidence and ease.

Getting Started: Key IRS Resources

Discover the essential sections of the IRS website, including where to find forms and guides specifically designed for taxes and small businesses. While on the IRS website, you’ll find their homepage with a menu at the top. You’ll find more information under the ‘file’ option on this menu if you’re a small business or individual with tax questions. Here you can select ‘individual’ or ‘business and self-employed’. The website has intuitive features so you can easily browse specific topics.

Maximize Tax Deduction s & Credits

Maximizing your tax deductions means reducing the amount of taxable income, leading to lower overall tax liability. For small businesses, this can mean significant cost savings and freeing up capital that can be reinvested into operational needs to help your business grow. Effectively utilizing available deductions ensures compliance with tax laws and can prevent overpayment. On the IRS’s website, you’ll find helpful videos and a section for business tax credits .

Use the IRS Website to Stay Compliant

The IRS website provides numerous tools to help individuals and small business owners comply with tax regulations. The small business and self-employed tax center will hold comprehensive information on tax obligations, requirements, and due dates. Additionally, Their forms and publications option provides a vast library of relevant forms about specific business and filing types. It is important to note to pull these forms during submission as they are regularly updated.

Other Helpful IRS Website Tools

Beyond the basics, other IRS tools can greatly assist you and your small business. Here is a list of other beneficial tools and resources from the IRS website. If you need additional clarification on the forms and processes, having an experienced small business attorney is a terrific resource.

Interactive Tax Assistant makes searching inquiries easier and can answer common questions.
Their Electronic Federal Tax Payment System allows you to pay federal taxes electronically efficiently and securely. You can pay from home, schedule payments, track your history, and more.
The Online EIN Application is a convenient way to obtain your employer identification number which is one of the first steps of starting your business. This is essential for tax filing and business identification.
Recordkeeping is crucial when running a small business for various reasons. It ensures that all income and expenses are reported accurately and comply with tax laws. In the event of an audit, recordkeeping also helps organize documents, making the process smoother and less stressful. Diligent record-keeping is essential for maintaining financial integrity.

Protect Your Business With Brenden Kelley Law

There are several moving parts when owning and operating a small business. While you’re busy being client-facing and focusing on your services, an entire back-end component of running a small business comes into play. Reporting, filing, and maintaining your taxes is perhaps one of the most important aspects. Utilizing the resources on the IRS website with the advise and counsel of Brenden Kelley Law can help you stay compliant and optimize your tax strategy. Trust in our partnership to help you manage your business needs with confidence.

Turning Generosity Into Income: Charitable Gift Annuities for Savvy Seniors

Mon, 09 Jun 2025 23:24:07 GMT

Many American seniors planning for retirement have one important goal: securing a steady income stream. However, did you know that giving to charity supports the causes you care about and provides financial benefits like a charitable gift annuity (CGA)? You can enjoy tax-efficient giving and create a reliable income stream for retirement. Find out how charitable gift annuities work, the tax advantages, and how they can support your financial planning in Ohio.

Charitable Gift Annuities Explained

The IRS incentivizes charitable contributions by allowing taxpayers to deduct a portion of their donation from their taxable income. Nonetheless, traditional deductions often depend on exceeding the standard deduction, which may not be the case for all retirees.

A charitable gift annuity offers a more impactful tax benefit. It’s a unique financial arrangement that lets you donate to a retirement income charity while simultaneously generating revenue. When you contribute cash or securities to a qualified charity through a CGA, you receive a tax deduction for a portion of the gift’s value.

Then, the CGA provides a fixed income stream for the rest of your life, with a portion of each payment considered a tax-free return of your principal contribution. Such giving appeals to people who want to support an important cause while ensuring financial stability in retirement.

Benefits of Tax-Efficient Giving

CGAs offer several tax advantages that make them an attractive option for donors. The most obvious is you can claim a charitable deduction on your income taxes in the year you start donating. The tax advantage amount depends on the value of the assets transferred and the income you expect to receive from the annuity.

Other benefits you can enjoy as you support your passion are guaranteed income and reduced investment risk. Unlike market-dependent investments like stocks, bonds, and mutual funds, a CGA provides a fixed payout throughout your lifetime. Such predictability offers peace of mind and helps ensure your financial security in retirement.

The income from a charitable gift annuity is generally unaffected by market fluctuations. This stability can be reassuring for retirees who want to avoid the risks associated with other investment vehicles. Your fixed payments will supplement retirement income sources, like Social Security or pensions, as an additional financial security.

Considerations Before Making a Decision

Even though CGAs offer numerous advantages, you need to understand their limitations . Before committing to a charitable gift annuity, here are a few factors to consider:

Reduced Principal Access : The initial donation to a CGA is typically irrevocable. Once the annuity is established, you cannot access the principal amount.
Fixed Payout Rates : Current interest rates may affect the income generated by a CGA. Before selecting a plan, compare rates offered by different charities and consult with your financial advisor.
Tax Implications : Consulting a tax or financial advisor is recommended to help you fully understand the specific tax implications of a CGA for your unique financial situation.

Always evaluate the financial health and reputation of the charity you plan to support . Ensure the organization has a solid track record of meeting its payment obligations and adheres to CGA best practices .

Partnering for a Secure and Philanthropic Retirement

Charitable gift annuities offer a great way to support your favorite causes, receive tax rebates, and secure a reliable income. But before you jump the gun, learn the impact on your estate planning. CGAs can reduce the size of your taxable estate, though they may also affect your heirs’ inheritance.

Discuss your plans with an estate planning attorney to ensure your charitable giving aligns with your overall estate planning strategy. Brenden Kelley Law has extensive experience guiding clients through related financial and legal decisions. Get in touch or call our office at 216-644-3359 today to schedule a comprehensive consultation. Let us help you determine if a chosen CGA aligns with your retirement goals and connect you with qualified financial advisors to explore your options.

Understanding Summit County, Ohio’s Property Tax Assessment Process

Mon, 09 Jun 2025 23:22:52 GMT

As a property owner in Summit County, Ohio, it’s important to understand the process of property tax assessments and when you can expect to receive your assessment notice. Additionally, if you believe your assessment is incorrect, it’s important to know the steps to take to file a challenge with the Board of Revision.

When will property tax assessments be sent to property owners?

Property tax assessments are typically sent out in late February or early March of each year. These assessments reflect the value of the property as of January 1st of that year. Property owners will have the opportunity to review their assessments and file a complaint if they believe their assessment is incorrect.

How to file a challenge with the Board of Revision

If a property owner believes their assessment is incorrect, they can file a complaint with the Board of Revision. The complaint must be filed within the first 30 days of the assessment notice being sent out. The complaint must be in writing and include the property owner’s name, address, and a description of the property in question. The complaint must also include the reason for the challenge and any supporting documentation that the property owner wishes to provide. Complaints are due by March 31st every year.

What happens after the Board of Revision receives the complaint?

After the Board of Revision receives the complaint, they will schedule a hearing. The property owner will be notified of the date and time of the hearing. At the hearing, the property owner will have the opportunity to present their case and any supporting documentation to the Board. The Board will then make a decision regarding the complaint. If the Board finds in favor of the property owner, they will adjust the assessment accordingly.

Understanding the property tax assessment process in Summit County, Ohio is important for all property owners. It’s important to know when to expect your assessment notice, and what steps to take if you believe your assessment is incorrect. By following the appropriate steps, property owners can effectively file a complaint with the Board of Revision and have their concerns heard. For expert assistance throughout this process, Brenden Kelley Law is ready to help. Contact us at 216-644-3359 for a consultation.\

2023 Downtown Cleveland Economic Development Report

Mon, 09 Jun 2025 23:21:22 GMT

No doubt, Downtown Cleveland is among the most vibrant and growing metropolises in the Greater Lakes region. This comes with myriads of opportunities for local business owners to thrive and expand their ventures. In 2023, the district saw several new skyscrapers adding to the alluring downtown skyline and myriads of storefront projects breaking ground. Numerous companies announced expansion plans, with more newcomers setting base. More impressively, the year ended with the metro recording one of the fastest recovery rates in the Great Lakes region. Here is a summary of the 2023 Downtown Cleveland Economic Development Report . We highlighted excellent strides across the city’s corporate and social landscape.

Downtown Cleveland Post-Covid recovery

Ranked position three, Downtown Cleveland recorded one of the most impressive post-pandemic recovery rates in the Great Lakes region. According to a Center City District report, the city sits at the apex of the nation’s top 26 metro areas. In 2023, visitor foot traffic activity surpassed 90% of pre-pandemic levels and is expected to breach the pre-pandemic levels in 2024.

Warm and vibrant public spaces

By design, Downtown’s public spaces provide a vibrant and warm environment to support socio-economic activities. Currently, the city is implementing several programs geared at improving its outdoor amenities for public use. In 2023, the metro implemented 28 programs for 155 days to maintain a vibrant and fun atmosphere in all four seasons. These initiatives injected life into 13 public areas.

A thriving retail strategy

A flourishing storefront scene is pivotal to the economic progress of any city. A recent report reveals that 70% of Downtown’s expenditure is attributed to visitor traffic, emphasizing the need for vibrant retail offerings to gather for a growing residential community. Consequently, Downtown welcomed 33 New Storefront Openings in 2023 alone. These stores are diverse and offer a mix of products from apparel and hobby stores to home goods, hardware, and general services. At the beginning of 2023, the city, together with Streetsense, developed a Downtown Retail Strategy tailored to suit emerging market dynamics and requirements. The diagnostic segment of the strategy predicts a growing retail sector in the mid-term despite the 20-25% vacancy in retail spaces.

Notable investments made in Downtown

As of December 2023, over $1.4 billion worth of investments had been completed in Downtown. Most of these investments are spread over the Public Square and include noteworthy companies including the K&D Group. They finalized The Residences at 55, contributing 202 rental units to Downtown’s housing inventory, and Sherwin-Williams, with their new global headquarters set to accommodate over 3,500 employees by the close of 2024. There are also several projects near completion, including the renovation of the former Renaissance Hotel, now renamed Hotel Cleveland, and the Fidelity Hotel. These projects have greatly elevated the city’s real estate sector, with CBRE crowning Downtown Cleveland as the top city in the nation for its office space conversions into residential units.

Office space development

The city realized the highest return-to-office rates, reaching 64% as of August 2023. For the third year, employers favored Class A spaces with amenities, albeit often with smaller office sizes. This preference was noticeable throughout both Q3 and Q4 of 2023. Downtown areas experienced a positive net absorption in the office market for the first time in five quarters, with the overall office occupancy rate maintaining around 82.7%.

Rising demand for Downtown housing

With a rising population of 26,000 residents by 2032, Downtown Cleveland enjoys a stable demand for housing. As of Dec 2023, 91% of downtown apartments were occupied. Several residential housing projects are running, including the Bell and Ten60 Bolivar, slated to debut at the end of 2024. Another noteworthy project is the City Club Apartments, dubbed the newest infill development on a former surface parking lot. Collectively, these projects bring to the market an additional 850 units.

Visitor numbers

Downtown’s visitor numbers will reach the pre-pandemic levels in 2024. The City hosts several significant events this year, including the NCAA Women’s Final Four, a total solar eclipse, the MAC Basketball Tournament, and the Pan American Games. The recently renovated Huntington Convention Center has greatly enhanced Downtown’s ability to host large-scale events, further establishing the metro as a premier destination. It is also worth noting Cleveland Hopkins International Airport recorded rising passenger volume in 2023, reaching 9.9 million passengers.

Contact Brenden Kelley Law for strategic advice and local insights

With over 21,000 people calling Downtown Cleveland home, there is no doubt the metro stands as one of the most extensive neighborhoods in the region, experiencing a 22% increase over the past decade. This upward trend is projected to persist, with Cleveland ranking among the top 5 growing cities drawing in visitors post-pandemic. While the office, residential, and retail sectors display significant potential, the most reliable gauge of downtown’s path is the robust portfolio of current and forthcoming investments. Discover how your business can thrive in Cleveland’s growing economy. Contact Brenden Kelley Law for strategic advice and local insights.

Understanding the Pros and Cons of a Family Limited Partnership

Mon, 09 Jun 2025 23:19:56 GMT

A family limited partnership (FLP) is a legal entity that allows family members to pool their assets and manage them jointly, while still retaining the benefits of limited liability. Estate planners and asset protectors often use these partnerships as a tool.

Advantages

One of the main advantages of an FLP is that it allows family members to share ownership of assets while still maintaining control over them. This can be particularly beneficial for families that have multiple generations involved in the management of their assets. For example, parents can establish an FLP to manage assets for eventual transfer to their children while retaining decision-making power over those assets.

Another advantage of an FLP is that it can provide a significant tax benefit. By establishing an FLP, family members transfer ownership of assets into the partnership, taxed as a partnership instead of individually. This can result in a significant reduction in taxes for the family.

Disadvantages

However, there are also some potential downsides to an FLP. One of the main concerns is that the partnership agreement may be too restrictive for some family members. For example, requiring a majority vote for all decisions can make it difficult for minority members to influence outcomes.

Another potential downside of an FLP is that it can be difficult to dissolve the partnership. Unlike corporations, which shareholders can dissolve through a vote, dissolving an FLP requires all partners’ agreement. This can make it difficult for family members to separate their assets if they decide they no longer want to be in the partnership.

Another concern is that the partnership agreement may be too restrictive for some family members. For example, if the agreement states that all decisions must be made by a majority vote, it could be difficult for a minority member to have their voice heard.

There are also some potential legal issues that may arise with an FLP. For example, a poorly drafted partnership agreement could face legal challenges, and a court could dissolve a partnership not operated according to its agreement.

Despite these potential downsides, an FLP can be a useful tool for families that want to manage their assets jointly while still retaining the benefits of limited liability. Consulting a legal professional is crucial to ensure proper drafting of the partnership agreement and adherence to it in managing the partnership.

In Conclusion

Overall, family limited partnership is a great way to manage family assets and pass it on to the next generation while also enjoying the tax benefits. However, it is important to keep in mind that it has certain downsides as well like restrictions on decision making and dissolution of partnership. It is always recommended to consult a legal professional before creating an FLP and ensure that the partnership agreement is drafted properly and the partnership is run in accordance with the agreement. Contact Brenden Kelley Law at 216-644-3359 to schedule a consultation.

Brenden Kelley Among Cleveland’s Movers and Shakers

Mon, 09 Jun 2025 23:18:15 GMT

We are thrilled to share that Brenden Kelley has been honored as one of the 2024 Movers and Shakers of Cleveland by the esteemed Cleveland Professional Twenty Thirty Club. This recognition is part of the 18th Annual Top 25 Under 35 Movers & Shakers Awards, a tradition celebrating young professionals who are making significant contributions through their work, civic engagement, and philanthropic efforts.

The Essence of the Movers and Shakers Award

The Cleveland Professional 20/30 Club, the longest-running young professional group in Northeast Ohio, has consistently shone a spotlight on individuals who not only excel in their professional careers but also dedicate themselves to serving their community. Brenden’s inclusion in this prestigious group underscores his commitment to both his legal practice and his unwavering dedication to making a difference in the lives of those around him.

A Night to Remember

On March 7, Brenden attended the awards ceremony, a moment made even more special by the presence of his wife, Abigail, and a close-knit circle of friends. Reflecting on the event, Brenden shared, “Being recognized alongside such remarkable professionals is an honor. What made the night truly unforgettable was having my wife, Abigail, and my friends by my side. Their support has been my cornerstone.”

Gratitude and Team Spirit

Brenden also took the opportunity to acknowledge the role of his professional team in his achievements. “This award reflects not just on me but on the dedication and hard work of our entire team, family, and friends. Their support has been invaluable, and I am deeply grateful,” he remarked, highlighting the collaborative effort behind his success.

Celebrating Cleveland’s Young Professionals

The Movers & Shakers Awards are more than just accolades; they are a reflection of the vibrant spirit and potential within Cleveland’s young professional community. These awards serve as a reminder of the impact that dedicated individuals can have on their community and the importance of supporting and recognizing such efforts.

At Brenden Kelley Law, we are not only proud of Brenden’s achievement but also inspired by his commitment to excellence and service. His recognition as a Mover and Shaker reaffirms the values that drive us every day – to serve with integrity, pursue excellence, and make a positive difference in our community.

We extend our heartfelt congratulations to Brenden and all the 2024 Movers and Shakers.

Entrepreneurial Operating System: Align Your Team for Success

Mon, 09 Jun 2025 23:16:49 GMT

Learn the power of the Entrepreneurial Operating System. Teamwork is the lifeblood of every organization. Studies show that highly aligned companies increase revenue by 58% and are 72% more profitable . However, finding team alignment takes work. Some team members might have conflicting or competing priorities, while others might have misaligned goals and objectives, making it challenging to achieve organizational goals. Team alignment is critical for success in today’s fast-paced and competitive business landscape.

Team alignment ensures that all teams, departments, and individuals within an organization work towards a common goal and are in sync with the overall strategy. It enables seamless execution of strategic initiatives, enhances productivity, and fosters collaboration, ultimately driving business growth. EOS (Entrepreneurial Operating System) helps organizations move forward by ensuring that all the energy within flows in one direction. It provides a framework for companies to get everyone on the same page, clarify their vision, set goals, and create a plan to achieve them.

What Is an Entrepreneurial Operating System or EOS?

EOS is considered a people operating system. It was designed and developed by Gino Wickman to empower entrepreneurs like himself to take control of their businesses correctly and focus on what matters most in driving results and increasing efficiency and productivity. As a holistic business operating system, EOS fosters an inclusive, entrepreneurial mindset in all employees to recognize and address issues that hinder a company from achieving its leadership vision.

The system includes a comprehensive set of simple concepts and practical tools that provide a framework for getting everyone on the same page. It creates transparency and clarity within your organization so that improvements can be made where necessary or maintained where they are already successful.

EOS is based on six key components that help you to neatly assess, organize, and prioritize the most critical areas that are otherwise easy to overlook. It also provides tools that help you manage and maintain the transparency of the vital components, supporting a healthier framework for business to operate effectively and efficiently. The essential elements of EOS that serve as a foundation for business growth and success are vision, people, data, issues, processes, and traction.

Benefits of the Entrepreneurial Operating System (EOS)

The EOS can be used by any business, in any sector, and anywhere around the world. It heavily focuses on comprehensive business strategies and management theories that help you see the best way of doing what you want, control your business, and reduce mistakes. By implementing EOS, companies can benefit in the following ways:

Gain Better Clarity and Focus Within the Organization

The EOS framework helps leaders articulate their vision, set clear goals, and identify key priorities. Clarity is essential for a company’s success since it ensures that leaders and teams have the same understanding of the business’s goals, strategy, and operations. With clarity comes better decision-making, improved communication, and stronger team alignment, leading to increased efficiency, productivity, and profitability.

Improved Communication and Accountability

EOS includes accountability tools that leaders can use to ensure everyone works towards common goals. The accountability provided by EOS helps keep team members more focused and motivated by ensuring that everyone clearly understands their role in achieving your company’s vision.

Increased efficiency and productivity

The EOS concepts help businesses identify and eliminate inefficiencies in their processes, improving productivity and profitability. One of its key components is the process improvement framework, which provides a clear and concise procedure for establishing and improving key processes. The system also provides a framework for regular check-ins and progress updates, enabling leaders to keep tabs on implementing their process improvement plans.

More Decisive Leadership and Team Performance

EOS enables leaders to align their efforts and resources to a clear vision and set goals. When leaders clearly understand the direction they want their business to take, they can develop effective strategies to get there and make smarter decisions about how they allocate their resources.

How To Maximize the Key Components Of Entrepreneurial Operating System

Vision

A complex approach to strategic planning makes the process more daunting than it needs to be. Still, many organizations have trouble articulating the vision towards which they are meant to be driving growth. EOS tools streamline strategic planning and ensure leaders get right into it using simple templates with built-in deadlines.

The model’s vision component includes eight questions plus the “Shared by All” concept. These questions help you pinpoint core values and focus. They also set a 10-year target and marketing strategy. You’ll outline a 3-year picture and a 1-year plan. Additionally, you list rocks and issues to address. These elements act as focus filters for your organization’s past, present, and future. The “Shared by All” concept ensures team unity towards common goals. It involves activating rituals and creating artifacts. Rituals are actions taken, and artifacts are created reminders of your vision.

It is vital to get everyone in your organization 100% on the same page with where you are going and how you plan to get there. For this reason, EOS has a component dedicated to an organization’s vision. Having plans puts you in control and gives your team a fixed place to return to should they lose direction.

People

You must have the right people around you to bring any vision to life. And this extends beyond the boardroom to include every position that your company needs to fill. Your organization must consist of people who understand your vision, believe in it, and promote it. There may be a lot of great candidates out there, but they might not be great for your company and vision.

The people component of the EOS consists of the right people and seats. To know if you have the right people, you must establish core values and ensure that team members align with them. On the other hand, the right seat is about having a robust Accountability Chart. This is a tool for organizational transparency that provides visibility to the roles and responsibilities for every seat and removes ambiguity about who does what. It also improves communication and collaboration throughout the organization.

Data

Your organization is awash in data, making tracking it nearly impossible. EOS lets you harness this data for your benefit. It includes a scorecard and measurables for an objective organization view. These tools ensure decisions rely on objective, trackable metrics, not opinions or feelings.

The scorecard captures key numbers for your leadership team. This allows consistent business performance monitoring. Each team member also gets a scorecard to align and measure their performance with your vision. With the scorecard operational, you can spot trends and patterns to determine strengths and areas for improvement.

Issues

Issues are a normal part of business, and instead of being viewed as obstacles, they should be seen as an inspiration for better and more efficient work. There is potential for them to become real problems if not solved, and to be prepared for all the potential issues and problems that may occur, teams need to be aligned.

This component helps your organization become great at problem-solving. It consists of the Issues List and IDS, collectively called The Issues Solving Track. Every team has issues, and the Issues Solving Track helps organizations quickly identify issues, prioritize them, and then practice the proven process of IDS to identify, Discuss, and Solve them.

The Issues List allows you to collect all your issues in one place, and anyone can contribute to it. The list can be made of anything that needs to be solved; it can be an obstacle, problem, or an opportunity. Once you have the list of issues, you can order according to importance. You must go deep into the issue using the IDS concept to determine the root cause.

Process

Having processes in place that everyone consistently follows is critical to your company’s success. This component is all about systemizing your business by identifying and documenting core processes that define how it runs. For this, everyone has to be on the same page with the essential procedural steps and follow them consistently, efficiently, and in a scalable way.

This phase aims to streamline processes and eliminate repetition so that you only have procedures that sustain your vision. Additionally, documenting your core processes allows new team members to get a quick and detailed view of exactly what it is they do. Everyone can understand what is happening throughout the business, building stronger organizational alignment.

Traction

This step lets you bring your vision to life and see it to completion. Traction is often the weakest part of most businesses. Traction ensures that you meet your goals by instilling focus, discipline, and accountability. EOS provides tools that help teams stay on track and consistently work towards their goals. Accountability enables you to tackle challenges before they escalate into problems, ensuring smooth progress and firm performance.

Entrepreneurial Operating System: Our Final Thoughts

The entrepreneurial operating system allows entrepreneurs to take a step back from daily operations and focus on their business’s overall direction and long-term health. It helps you get clear on your vision and double down on your process implementation, eliminating guesswork. Adopting the EOS sets everyone on the same path with the same goals to avoid employees constantly asking the same questions or doing whatever they want.

In conclusion, EOS fosters team alignment and direction by ending vision procrastination, helping build a rockstar team, and enhancing employee focus.

Business Formation and Operation Using Series LLC in Ohio

Mon, 09 Jun 2025 23:14:43 GMT

The Ohio Revised Limited Liability Company Act took effect in February 2022. They made several significant changes to Ohio limited liability company (LLC) law. Among them, the Act authorized the formation and operation of a new type of business entity called a “Series LLC.” Here’s what Ohio businesses and those considering incorporating here need to know.

What Is a Series LLC?

A Series LLC is a limited liability company that can establish one or more subsidiary entities. Each is called a “series” or “series of assets” that are separate and distinct from each other and the LLC itself. Each series can have its members, managers, business purpose, obligations, assets, and liabilities. They can also independently transact business, sue and be sued, and grant liens and security interests. Assets owned by or associated with a properly maintained series are shielded from the liabilities of other series and the parent Series LLC, and vice versa.

A Series LLC serves essentially the same function as an LLC holding company but is easier to create and (potentially) simpler to operate. An LLC holding company typically owns interests in one or more other LLCs. These must be organized, registered, and maintained as a stand-alone corporate entity. In comparison, it takes just one filing with the Secretary of State to form a Series LLC. After that, that entity can establish and operate multiple series at its discretion. This is provided it follows certain recordkeeping and administrative requirements.

How Do I Form a Series LLC in Ohio?

Forming a Series LLC in Ohio differs slightly from forming a standard-issue LLC. As with any LLC formation, you must file Articles of Organization with the Secretary of State and pay a fee (currently $99). To make your new entity a Series LLC, you simply include a statement in the Articles of Organization that the LLC may have one or more series of assets subject to the limitations provided in division (A) of section 1706.761 of the Ohio Revised Code .

What Are the Features and Benefits of an Ohio Series LLC?

Like any limited liability company organized in Ohio, a Series LLC must have at least one member and maintain a statutory agent. Ohio law also leaves all of the other decisions about how an LLC is structured and managed to the discretion of its members. These are who usually set forth the particulars in an operating agreement. Series LLCs (and LLCs generally) are not required to file annual reports in Ohio.

It is relatively straightforward for an Ohio Series LLC’s operating agreement to establish or provide for establishing one or more series. The only requirements are that Series LLC must designate at least one of its members to be associated with each series and must give each series either:

Separate rights, powers, or duties concerning specified property or obligations of the Series LLC
Or to profits and losses associated with specified property
Or obligations
A particular purpose or investment objective.

One significant benefit of a Series LLC is that a series can hold an asset indirectly. In other words, the parent LLC can retain title to an asset while associating that asset with a series, thereby shielding it from all liabilities except those the series incurs. This can create significant efficiencies for Ohio businesses historically relying on holding company structures, such as real estate ventures, hospitality groups, construction firms, and investment funds. To also secure these benefits, the Series LLC must merely maintain records that account for the assets associated with each series separately.

What Problems Might Arise with an Ohio Series LLC?

Although Series LLCs have been around for years (more than 20 states allow them), they are new to Ohio law. For now, some potentially complex business formation and operation questions related to Ohio Series LLCs remain open, such as:

What constitutes adequate record-keeping to maintain the separateness of a series?
Can a series file for bankruptcy separate from its parent LLC?
Will states with no Series LLC laws honor the legal separateness of a series created by an Ohio business?
Is a series a separate taxable entity?

In time, court decisions, regulations, and statutory updates will likely resolve these and related questions. But for now, the newness of Ohio’s Series LLC structure is something businesses here should keep in mind.

Wrapping Up

Ohio’s recent authorization of Series LLCs is a potential boon for business owners for business formation. Adopting a Series LLC structure can lead to significant cost savings and administrative efficiency. But it also comes with some legal uncertainty. Businesses considering forming a Series LLC in the Buckeye State should discuss their options with an experienced commercial lawyer. Contact Brenden Kelley Law at 216-644-3359 today to schedule a consultation.

Cuyahoga County Property Reappraisal 2024: What Homeowners & Businesses Need to Know

Mon, 09 Jun 2025 23:13:15 GMT

Every six years, the comprehensive Cuyahoga County Property Reappraisal evaluates all commercial and residential properties. During these mandated checks, county assessors review the sale prices and property characteristics of homes and small businesses to establish new valuations. The forthcoming reappraisal in Cuyahoga County, scheduled to take place from October 2, 2022, through April 30, 2024, will impact over 522,000 properties, reports Cleveland.com .

The county assessor’s office arrives at this number by researching official property records to tally the total number of residential/commercial parcels within Cuyahoga County’s boundaries. New valuations determined through the reappraisal will take effect for the 2023 tax year and remain in play until the next six-year reappraisal is due. This periodic reassessment allows the county to distribute property taxes equitably based on accurate, up-to-date property values. As a Cuyahoga County resident, this guide can help you understand what to expect and how you can prepare.

The Reappraisal Process: What Property Owners Can Expect

The Cuyahoga County property reappraisal process will involve teams of private sector appraisers and county employees reviewing each property. Reappraisals begin with county assessors inspecting properties to verify characteristics like living area size, number of bedrooms and bathrooms, and any renovations or upgrades.

Timeline and Methodology

Appointed appraisers will consider recent sale prices of comparable properties to determine current market values. Homeowners can expect a notice in the mail if assessors need to access the interior of their property. Once inspections are complete, assessors will analyze property characteristics and market trends to assign new valuations.

Once preliminary values are online, homeowners can review them and provide feedback before finalization. New property values aim to represent what the home could sell for in the current market. Increases in a home’s value do not necessarily mean taxes will rise by the same percentage. Homeowners have the chance to formally challenge the new valuation before the issuance of tax bills for the New Year if it seems off-market.

How Appraisers Can Help

Appraisers can provide documentation of any errors for assessors to review before determinations become final. Come January, homeowners will see the impacts of the new property values on their tax bills. Local governments and school districts set millage rates that, along with the home’s value, determine taxes. Property owners can ask their county auditor questions or concerns about the new amounts owed.

To ensure a smooth reappraisal process, homeowners should have records of all renovations or condition issues and consider hiring an appraiser to evaluate the home’s market value if disputing the new appraisal amount. Maintaining an accurate property profile helps ensure an equitable valuation.

Impact on Property Taxes

A property’s new appraised value affects the owed taxes, as they’re based on its proportion of the total taxable value within the area. The last reappraisal in 2021 saw an average property value increase of 16%, leading to higher tax bills for many owners as their properties made up a larger share of the taxed valuations.

Clarifying House Bill 920

If rising values continue, tax bills could increase even after applying Ohio’s tax reduction mechanisms. Fortunately, not all value increases translate to higher taxes, thanks to Ohio’s House Bill 920 , which limits tax increases due to inflation. Passed in 1976, HB 920 caps annual tax increases on individual properties unless ownership changes; this provides stability for long-term owners.

However, this “safety net” may not fully offset higher taxes that result from substantial value increases over multiple reappraisal cycles. For example, a home that increased in value by 16% during the last reappraisal as values rose across the county could still see tax bills increase by more than 3% even with HB 920 caps.

What This Means to Business Owners

Business owners do not receive the same protections from HB 920 as residential owners. For them, large increases in the appraised value of commercial properties may translate directly into higher taxes each year—this cuts directly into profits.

With operating expenses also on the rise, marked property tax hikes could strain the finances of companies that own their facilities. Both homeowners and commercial property owners will want to carefully review the Final Tax Letters mailed by the county to understand how upcoming appraisal changes and tax rates will ultimately affect what they owe in 2024 and beyond.

Contesting Cuyahoga County Property Reappraisal Values

Property owners who disagree with their new appraised values have the right to an informal hearing with the Cuyahoga County Board of Revision . There are several reasons why this would happen. For starters, assessors could make mistakes when measuring a home or miss recent renovations that increased a property’s value.

During the Cuyahoga County property reappraisal, the comparison properties might not accurately reflect the specifics of the owner’s home. Market trends over the past six years in a neighborhood may have been volatile and not accurately captured. The assessor’s opinion of a property’s condition or quality could differ from the owner’s view.

Inspectors might overlook or misinterpret damage or structural issues found during their assessment. Simply put, appraisals, which involve human judgment, leave room for errors, so property owners have the right to contest values they feel are inaccurate. This is where assistance from the attorneys at Brenden Kelley Law comes in.

Importance of Legal Representation

It’s highly advisable for property owners contesting new appraised values to have qualified legal representation. A skilled real estate lawyer can review the appraisal details, identify any potential flaws in the assessment, and effectively argue the owner’s case before the Board of Revision.

It’s also not easy to navigate the legal process, let alone comprehend property assessment terminology. Representation from a law firm well-versed in property tax disputes greatly increases a homeowner’s or business owner’s chances of a successful appeal and a fairer valuation.

Preparing for a Board of Revision Hearing

The Cuyahoga County Board of Revision is the initial reviewing body that hears formal complaints and appeals from Ohio property owners regarding their newly appraised property values. It has the authority to determine whether the assessed valuations are equitable and make adjustments if evidence demonstrates errors in the appraisal.

Board Member Responsibilities

Board members are tasked with fairly evaluating the testimony and documentation presented by property owners and county assessors to decide whether the contested valuations should remain unchanged or be modified.

Appeals Process

The decisions of the Board of Revision may then be further appealed to the Ohio Board of Property Tax Appeals or the county Court of Common Pleas. To request a hearing, owners must submit an application for the review of real property value between 1st January and 31st March 2025. The application requests information about the property, including the owner’s rationale for disagreeing with the appraised value .

Evidence Consideration

Note that submissions received after the deadline may not be accepted for review in the current cycle. The Board of Revision, consisting of county employees, will consider evidence such as comparable sales, estimates for repairs or upgrades, and recent purchase amounts.

Prepare All Documentation

All evidence must be clearly presented and explained at the hearing to demonstrate why the appraisal is inaccurate. Owners and assessors will have a chance to discuss the evidence and reasoning before the Board. To prepare, one must consolidate documentation like appraisals, contractor bids, permits, and photographs.

While property owners can represent themselves at hearings, hiring an attorney familiar with property tax law gives petitioners a leg up during what can sometimes be a protracted process. An experienced real estate attorney can ensure all necessary documentation is prepared and submitted correctly. They can also present the owner’s case and address any counterarguments from the assessor with professional ease.

Board Decision

Finally, the Board issues decisions by March 31, and based on the evidence presented, decisions will notify owners if the value has been lowered, upheld, or raised. Any value adjustments will be reflected in tax bills for the following year, and owners dissatisfied with the decision can further appeal to the county or state boards.

Community Implications and Historical Context

Cuyahoga County experienced its largest property value increase in over 30 years at 16% in 2021. This impacted tax bills and the local housing market. Rising values benefit the county through increased tax revenue but can strain homeowners and small businesses.

The upcoming Cuyahoga County property reappraisal is likely to have wide-reaching economic and social consequences for the community while values and taxes adjust. Past reappraisals have driven renovation projects as owners sought to increase property values. They’ve also led to higher rents that have impacted tenants. Local leaders will monitor impacts on affordability, development, and whether certain areas see declining values.

Cuyahoga County Property Reappraisal: Let Brenden Kelley Law Be Your Expert Guide

The upcoming Cuyahoga County property reappraisal will undoubtedly result in changed property values and tax impacts for many residents and business owners. Given the magnitude of this county-wide reassessment and the potential for market fluctuations or appraisal errors, some property owners may disagree with their newly assigned values. Handling an appeal through the Board of Revision process is no easy feat without experience in property tax disputes. The attorneys at Brenden Kelley Law have extensive expertise advocating for residential and commercial clients contesting unwarranted reappraisals. Our representation will help ensure property owners receive a fair hearing if they believe errors were made in valuing their properties under the upcoming reassessment. Call us at 216-644-3359 today to schedule a consultation for a comprehensive case assessment.

Navigating the Resources of Small Business Administration in the U.S.

Mon, 09 Jun 2025 23:11:28 GMT

Small businesses are the backbone of the American economy. 61.7 million Americans work for small businesses, defined as businesses with less than 500 employees. The U.S. Small Business Administration was put together to help support these businesses through loans and other resources. However, many small business owners are unfamiliar with these resources, which are well-designed to help you with your unique challenges.

Find out about the tools and services the SBA provides to help you plan and grow your business.

Plan Your Business: Laying the Foundation

Success as a small business owner requires intention and planning. Some people may accidentally “fall” into entrepreneurship, perhaps after a job loss in a difficult economy. But those businesses that thrive are those that have a plan. The Small Business Administration can help with this.

Market Research and Competitive Analysis

Do you know who your audience is? Do you understand the competition? Is there space for your business in the area you most want to go into? Answering these questions requires the thing a new business has the least of: data.

The SBA provides market research and competitive analysis resources. These include resources to help you find existing sources that can show things like household incomes and industry trends. They also have resources to help you do your research through surveys or focus groups. You can get time with a counselor to help you design your market research plan and put limited resources where they will be most effective.

Many free, reliable sources can help you with your research and analysis, such as the U.S. Census, consumer spending statistics, etc. The Small Business Administration brings them all together in one place.

Writing a Business Plan

You have to have a robust business plan , but knowing how to write one is a skill that not everyone possesses…including many business owners. Your business plan should go through everything from the initial structure to your five- or ten-year growth plan. A good business plan can help you attract business partners and angel investors. There’s no right way to write one, but the SBA provides advice and templates to help you create a business plan that is clear and understandable.

Reading example business plans can help you understand what needs to be in there and why. For example, you need to include your financial projections, your marketing strategy, and the legal structure of your business.

Startup Costs and Business Credit

Your new business needs money to start, but to get a business loan ; your business needs a credit score. You can’t afford to risk unless you have a nest egg; this can be a problem.

The SBA can help in two ways. First of all, they have resources to allow you to calculate all of your startup costs . This is helpful if you’re trying to get investors or a grant. It can also help you estimate when you will start to turn a profit and, thus, how much you need to potentially set aside for your living expenses. The Small Business Administration has fillable spreadsheets and advice on which costs to consider.

Secondly, they have advice on how to build credit for your business . Your business’ starting credit score is based on your personal credit history, so it’s a very good idea to pay off your credit cards before starting a business. The SBA has resources for improving personal credit and establishing and managing business credit.

Launch Your Business: From Vision to Reality

Most businesses that fail do so soon after launch. A solid launch moves your business onto the trajectory of success. However, a mismanaged one will put you on the scrap heap of “That was a good idea.”

The Small Business Administration can help with several areas of properly launching your business.

Choosing the Right Location and Structure

Your business’s location might be affected by non-business concerns, such as a spouse’s job, the need to be near your parents, putting your kids in good schools, etc. However, if you have location flexibility, you can choose a jurisdiction that has favorable tax and regulatory conditions. For some businesses, you might also want to include the location of your target market, the level of competition in a particular area, or suggestions from business partners.

You might, for example, relocate to an underserved area to start your home improvement company. Or you might relocate yourself to a favorable tax and business license environment if running an online business.

As for structure, you may choose to stay as a sole proprietorship if you have no intention of hiring employees, become an LLC (if your business is higher risk), or establish a C corp or S corp . Forming a corporation can help you attract more investors, but C corps aren’t always favorable tax-wise. The SBA has a variety of resources to help you compare different business structures as well as research the best location.

Business Registration and Compliance

Most businesses need to be registered . Some states don’t require you to register if you are doing business under your legal name and aren’t in a regulated profession. However, doing so can provide tax benefits, make it easier to prove profit intent if you are a pass-through entity and get audited, and potentially protect clients by demonstrating that you are not their employee.

The Small Business Administration can help you navigate this and work out whether you should register your business. They can also help you with tax paperwork, getting a federal tax ID, or trademark protection.

Financial Management

Opening a business bank account can be complicated or straightforward. (All businesses should have a separate bank account, including sole proprietorships). The SBA can help you choose the right bank, which may or may not be the bank you are already using, and get together the paperwork you need. You should also get a business credit card rather than putting business expenses on a personal card.

You should also get business insurance . The Small Business Administration offers a clear explanation of what kind of business insurance you should get and how to do so. In some cases, you may be required to get certain types of insurance.

Grow Your Business: Expansion and Adaptation

Some people are happy with a business that is doing what they do best. Others have the goal of selling the business or want to grow it further. As your business grows, the SBA will help you develop it in various areas.

Financial Management and Employee Hiring

As your business grows, you will need to get more serious about financial management . Many business owners hire a CPA, but you still need to have basic bookkeeping skills yourself. Their resources explain how to do a cost-benefit analysis, how to choose an accounting method (most small businesses start at cash but may move to accrual later), and understand GAAP.

Hiring your first employee is a major milestone for your company. The Small Business Administration explains the basics of compliance and how to distinguish between employees and contractors. It also has resources on required and optional employee benefits. Labor law compliance is extremely important, and even when you are too small to have to abide by a lot of the regulations, it’s best practice to stick with them from the start.

Marketing, Sales, and Cybersecurity

Unfortunately, you can’t just put a product or service out there and hope for the best. Marketing and sales are part of doing business, and the SBA has advice on how to make a marketing plan, when to measure and update it, and how best to accept various types of payment. They also have an example marketing plan to help you understand how to write your own.

Most small businesses don’t have much in the way of cybersecurity , but they are often targets because they don’t have the same security infrastructure as larger firms. Most small business owners feel vulnerable, but can’t afford professional IT solutions. The Small Business Administration advises on best practices, such as training employees to spot phishing emails and using good antivirus software. The SBA and its resource partners also offer in-person and virtual cybersecurity training events regularly.

Emergency Preparedness

How would your business cope if your town was hit by a natural disaster? What about a data breach? For very small companies, what if a key employee (or you) winds up in the hospital? Most small businesses don’t have proper emergency preparedness . In this situation, the SBA addresses this by providing disaster recovery checklists for a variety of disasters, as well as emergency toolkits and guidance. The SBA also offers low-interest loans for businesses struck by disasters to help you get back on your feet. There is no cost to apply for these loans.

Manage Your Business: Sustaining Success

Once you have a business, keeping it never ceases to be a challenge. While a lot of the SBA’s resources are dedicated to fragile early-stage businesses, they also have help for ones that are well-established but may need a little bit of assistance.

Obtaining Additional Funding and Expansion

If your business needs more funds , you might need to attract new investors. It can be easier to go back to people who have helped you in the past, but that’s not always an issue. The Small Business Administration can help you make a case, such as for money to get through the slow time of year. The SBA runs local resource centers where you can meet with business mentors and local experts (and if you become successful enough)… Lender Match will help you find a lender who offers an SBA-guaranteed loan, which is handy for high-risk businesses.

Sometimes, the best way to grow is a new business location . This can get complicated, especially if you end up with locations (and employees) in multiple states. The SBA can help with this and advise if you’re ready to take the major step of selling franchises.

Special Focus on Diverse Businesses

Finally, the SBA offers special advice and assistance for diverse businesses. This includes offices for women-owned , Native American-owned , Veteran-owned , military spouse , LGBTQ-owned , rural , and minority-owned businesses. If you fall into any of these categories, you may be able to get extra help. You may get assistance, including access to women’s business centers or help for rural businesses in historically underused business zones.

Empower Your Small Business Administration in the U.S.

The U.S. Small Business Administration offers comprehensive tools and services for small businesses at every stage. You can leverage these resources to build stronger, more resilient businesses that thrive in today’s market. We can provide practical and actionable advice to help you make the most of this.

If you need legal representation, we help with options to fit your budget and needs, as well as advising on compliance issues and regulations. Contact Brenden Kelley Law to find out more!

Navigating the 2024 Tax Season: Key IRS Updates and Tips for Taxpayers

Mon, 09 Jun 2025 23:07:54 GMT

The 2024 tax season kicked off on January 29th and runs until April 15th. While you still have time, it would be wise not to wait until the last minute. In addition to relieving stress associated with last-minute tax filing, filing your 2023 tax returns early allows for a smoother and more efficient filing process. Starting early gives you the time and space to gather all necessary documents, review any IRS updates, and explore potential tax-saving strategies. Tax provisions change annually, and the reasons for this range from inflation adjustments to new legislation or IRS rules.

The IRS updates for the 2023 tax year combine inflation adjustments and potential last-minute law changes from the U.S. Congress. Some new things include an increased standard deduction, adjusted bracket rates, and changes to common tax credits and deductions. Here’s more of what you need to know about the critical IRS updates for the 2024 tax season:

IRS Online Account Enhancement

Paper-based processes have, for a long time, hampered the IRS and frustrated filers. The challenges were twofold: filers could not digitally submit forms and correspondences beyond their annual 104 tax return, and the IRS could not digitally process paper tax returns it received. This meant relying on manual processes, which often resulted in significant delays for taxpayers and challenges for IRS staff. But with the new, improved online IRS account, taxpayers and Individual Taxpayer Identification Number (ITIN) holders can quickly access their tax information. They can electronically sign a power of attorney and tax information authorizations from their tax professional.

You can also do the following with the enhanced IRS online account:

Obtain essential information from the most recent tax return
Access tax transcripts on payment history, taxes you owe, and details on payment plans you may have set up with the IRS.
Obtain digital copies of any IRS notices
Make payments through the electronic payment option
Set up an online payment agreement

Understanding Refund Timing and Delays

Just as each tax return is unique, so is each taxpayer’s refund. Generally, the IRS issues most refunds in 21 days or less. However, several different factors can affect the timing of your refund. The IRS, therefore, cautions taxpayers not to make immediate plans with their 2023 federal tax returns. Some returns require additional review and thus take longer to process. These include when the return has errors, is incomplete, or if they suspect it of identity theft or fraud.

Also, certain credits, such as Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC), affect refund timing. They prohibit the IRS from issuing these refunds before mid-February. They must hold the entire refund, not just the portion associated with the EITC or ACTC.

Reminder of the Last Quarterly Payment for 2023

Usually, they collect the taxes continuously throughout the year through withholding tax from paychecks. However, freelancers and non-wage taxpayers pay the IRS what is called ”estimated quarterly taxes”. Estimated tax payments should be made as income is earned, and the IRS sets quarterly collection deadlines. These dates don’t coincide with regular calendar quarters; therefore, planning is essential. The final quarterly tax payment for 2023 was due January 16th. The estimated 2024 tax payments are April 15th, June 17th, and September 16th.

The IRS charges penalties if you fail to pay enough tax yearly. You can also be penalized for late or inadequate payments, even when you are due a refund when you file your tax return. Use the Tax Withholding Estimator to determine how much you need to pay to avoid unexpected tax bills when you file your returns.

Effective Record Keeping and Document Gathering

As with all your essential documents, it helps to develop a system for organizing all your electronic and paper tax records in one place. This includes year-end income documents like Forms W-2 from employers, Forms 1099 from banks and other payers, Forms 1099-K from third-party networks, Forms 1099-MISC for miscellaneous income or Forms 1099-INT for interest paid, and Forms 1099-NEC for non-employee compensation.

Having all your documents within access puts you in the best position to file accurate returns and avoid processing or refund delays. Your document organization system needs to be secure, reliable, and streamlined to ensure efficiency when filing returns.

1099-K Reporting Threshold Update

Once again, the IRS has delayed the $600 rule for 1099-K reporting. However, the delay is for 2023 federal tax returns, casual online sellers, and confusing payment networks. Had the rule been implemented, it would have meant that millions of people who paid at least $600 for goods and services through third-party payment networks like PayPal and Stripe would have received a Form 1099-K for this tax season. This, however, is not required for now unless the taxpayer receives over $20,000 and has had more than 200 transactions in 2023.

Anyone can have the Form 1099-K using payment apps or online marketplaces. The complexity of this new provision and the large number of individual taxpayers affected has prompted the IRS to plan for a threshold of $5000 for the 2024 tax year as part of a phase to implement the $600 reporting threshold enacted under the American Rescue Plan (ARP).

Taxpayers who receive a Form 1099-K should review it to determine if the amount is correct and establish any deductible expenses associated with the payment. You can learn more about the IRS. Understanding your Form 1099-K webpage, what to do with the form, and your course of action should you receive it by mistake.

Taxability of Income and Reporting Requirements

Any amount included in your income is taxable unless specifically exempted by law. Taxpayers must also determine if their gross income meets the required filing threshold. Also, it is essential to know that federal income tax rates are tied to tax brackets that adjust yearly to inflation. This means you may fall into a higher or lower tax bracket each year based on your income and pay different rates from year to year. The 2024 tax brackets are more favorable than the last due to inflation adjustments.

Conclusion

Keeping up with the complexities of IRS updates on tax returns can be daunting. Especially if you have unique financial circumstances or are facing significant life changes. Don’t hesitate to seek help from tax and financial professionals who can provide personalized guidance tailored to your needs.

Brenden Kelley’s Look at Three Years as a Super Lawyers Rising Star

Mon, 09 Jun 2025 23:06:15 GMT

We are thrilled to announce that Brenden Kelley has been named a Super Lawyers Rising Star for 2024. This marks the third consecutive year that Brenden has received this prestigious designation, underscoring his commitment to excellence in the legal field and dedication to his clients.

What Is the Super Lawyers Rising Star Designation?

The Super Lawyers Rising Star list recognizes no more than 2.5% of attorneys in each state. It celebrates those who have attained a high degree of peer recognition and professional achievement while being either 40 years old or younger, or in practice for 10 years or less. The selection process involves rigorous peer nominations, evaluations, and independent research.

A Testament to Dedication and Expertise

Being named a Super Lawyers Rising Star for the third year in a row is a testament to Brenden’s unwavering dedication to his profession and the expertise he brings to the table. Over the years, Brenden has demonstrated a deep commitment to upholding the highest standards of the legal profession, providing exceptional legal services, and achieving significant outcomes for his clients.

Client Trust and Respect: The Ultimate Reward

While the Super Lawyers Rising Star designation is a significant professional achievement, Brenden believes that the respect and trust of his clients are his most cherished accolades. “Being recognized by Super Lawyers for the third consecutive year is an honor and a reflection of the hard work our team puts in every day. However, it’s the trust and respect from our clients that truly drive me. Our clients’ confidence in our ability to represent their interests and protect their rights is what matters most at the end of the day,” says Brenden.

Brenden’s approach to law is client-centered, focusing on understanding each client’s unique needs and tailoring his legal strategies accordingly. His dedication to his clients extends beyond the courtroom, as he strives to build lasting relationships based on trust, transparency, and mutual respect.

Looking Forward

As we celebrate this remarkable achievement, Brenden Kelley Law remains committed to providing the highest quality legal representation to our clients. We look forward to continuing to serve our community with the same level of dedication and excellence that has become synonymous with Brenden Kelley’s practice.

For Brenden, this recognition is not just a personal accolade but a reminder of the responsibility he carries as a legal advocate for his clients. It reinforces his commitment to not only meet but exceed the expectations of those he serves.

We extend our heartfelt congratulations to Brenden Kelley for once again being recognized as a Super Lawyers Rising Star. Here’s to continuing to make a difference in the lives of our clients and the legal community.

Empower Your Business: Master the 2024 Tax Deadlines

Mon, 09 Jun 2025 23:04:50 GMT

In the complex world of business, managing your tax obligations is a cornerstone of success and legal compliance. With the onset of 2024, it’s imperative for business owners to familiarize themselves with the critical tax deadlines affecting various business structures. It helps you dodge hefty fines and stick to tax laws. Knowing when to file tax returns and make payments is crucial. Below, we outline the key tax calendar dates and deadlines for businesses in 2024, drawing on the structure provided for 2023.

1) January 31, 2024: Deadline for Distributing Tax Forms

Businesses must issue W-2 forms to employees and 1099-NEC or 1099-MISC forms to independent contractors for services provided in the previous year. The cutoff date for furnishing these documents is January 31,. This deadline is important to give everyone enough time for their tax preparations.

2) March 15, 2024: Tax Returns for Partnerships, S Corporations, and LLCs

For partnerships, S corporations, and LLCs elected to be treated as partnerships for tax purposes, the deadline to file tax returns is March 15. This date applies if your business follows the calendar year. For those operating on a fiscal year, the deadline is based on the IRS fiscal year schedule. Additionally, if you wish to elect S corporation status for 2024, you must submit Form 2553 by this date.

3) April 15, 2024: Deadlines for C Corporations, Sole Proprietorships, and Individuals

C corporations, sole proprietors, single-member LLCs, or LLCs taxed as corporations, alongside individuals, must file their tax returns by April 15, 2024. This date also marks the final opportunity to contribute to traditional and Roth IRAs for the 2023 tax year.

4) October 15, 2024: Extended Tax Return Deadline

Should you have obtained an extension for your 2023 income tax return, the extended deadline to submit your tax documents is October 15, 2024. This extension provides additional time to gather necessary information and ensure accuracy in your tax filings.

5) Quarterly Estimated Tax Payment Deadlines for 2024

For those required to make estimated tax payments remember the following deadlines for the 2024 tax year:

April 15, 2024 : Q1 estimated tax payment
June 17, 2024 : Q2 estimated tax payment (adjusted due to the 15th falling on a weekend)
September 16, 2024 : Q3 estimated tax payment (adjusted due to the 15th falling on a weekend)
January 15, 2025 : Q4 estimated tax payment for 2024

Should any of these dates land on a weekend or federal holiday, the deadline will be the next business day.

How to File a Tax Extension as a Business Owner

If more time is needed to prepare your tax return, you can apply for an extension, granting an additional six months to file. It’s crucial to understand that this extends only the filing deadline, not the payment due date for estimated taxes. Use IRS Form 4868 for sole proprietors and Form 7004 for partnerships, S corporations, and C corporations.

Timely payment of estimated taxes is crucial to avoid penalties. Staying informed of these critical dates helps ensure your business meets its tax obligations and maintains compliance with tax laws. Should you need guidance or assistance in managing your tax responsibilities, consulting with a professional is always advisable. For expert advice and support, consider reaching out to Brenden Kelley Law at 216-644-3359, where we’re ready to assist you with your tax planning and compliance needs.

Simplifying the Probate Process in Ohio: What You Need to Know

Mon, 09 Jun 2025 23:03:26 GMT

Understanding the probate process in Ohio is crucial for managing and distributing a loved one’s estate effectively. It’s a key step in fulfilling the deceased’s wishes and adhering to legal requirements .

What is Probate?

Probate is the legal procedure of settling an estate after someone passes away. In Ohio, the probate court of the county where the deceased lived handles this process. The goal is to distribute the deceased’s assets either according to their will or, if absent, in line with state laws.

The Probate Process in Ohio: Key Steps

Filing a Petition with the Probate Court: The executor or administrator files a petition to open the probate case, providing details about the deceased’s assets and heirs.
Appointing an Executor or Administrator: The court appoints an executor (as named in the will) or an administrator (if there’s no will) to oversee the estate’s settlement.
Notifying Heirs and Creditors: This person is also responsible for informing heirs and creditors about the probate case, typically through mailed notices.
Gathering and Inventorying Assets: They must collect and list the deceased’s assets, including real estate, bank accounts, stocks, and personal items.
Paying Debts and Taxes: The executor or administrator pays any outstanding debts and taxes , such as credit card balances, loans, and due taxes.
Distributing Assets to Heirs: Finally, after clearing debts and taxes, they distribute the remaining assets according to the will or state law.

Duration and Complexities of Probate

The duration varies from several months to years, influenced by the estate’s complexity and the number of assets. Executors or administrators should maintain detailed records and collaborate closely with the probate court.

Can Probate be Avoided?

Not all assets require probate. Jointly owned property , life insurance policies, or retirement accounts with named beneficiaries often bypass probate. Ohio also offers a simplified process for small estates worth less than $35,000.

Role of Executors, Administrators, and Heirs

Understanding your role in the probate process is essential, whether you are an executor, administrator, heir, or beneficiary. If you’re looking to avoid probate or need guidance, contact Brenden Kelley Law at 216-644-3359.

Arbitration for Business Disputes in Ohio: Pros and Cons

Mon, 09 Jun 2025 23:01:59 GMT

Arbitration is a form of alternative dispute resolution (ADR) that is commonly used in Ohio and other states to resolve business disputes. It is a process in which a neutral third party, called an arbitrator, listens to the evidence presented by both sides of a dispute and makes a decision that is binding on the parties.

Advantages

Arbitration has several advantages over traditional litigation in the court system. One of the main benefits is that it is typically faster and less expensive than going to court. Because arbitration proceedings are typically less formal than court proceedings, they can be completed more quickly and with less legal fees. Additionally, arbitration proceedings are often more confidential than court proceedings, which can be especially beneficial for businesses that want to keep their disputes private.

Another advantage of arbitration is that it allows the parties to choose an arbitrator who has expertise in the area of the dispute. For example, if a dispute involves a contract for the sale of goods, the parties can choose an arbitrator who has experience with commercial transactions. This can be beneficial because the arbitrator will be able to understand the complexities of the dispute and make a more informed decision.

Disadvantages

However, arbitration is not the right choice for every business dispute. One of the main disadvantages of arbitration is that the decision of the arbitrator is final and binding, and there is no appeal process. This means that if one of the parties is unhappy with the decision, they have no legal recourse. Additionally, arbitration proceedings can be more expensive than other forms of ADR, such as mediation.

Another potential disadvantage of arbitration is that it can be less fair than the court system. This is because the parties to the dispute have less control over the process. For example, the parties do not have the same rights to discovery (i.e. the process of obtaining evidence from the other side) as they would in a court case. Additionally, the arbitrator may be biased towards one of the parties. This is why it is crucial that the parties choose an arbitrator who is impartial and unbiased.

Conclusion

In conclusion, arbitration can be an effective way to resolve business disputes in Ohio, but it is not the right choice for every dispute. Businesses should consider the advantages and disadvantages of arbitration and choose the ADR method that is best for their specific dispute. If you are unsure whether arbitration is the right choice for your business dispute, it is a good idea to consult with an attorney who has experience in the field of alternative dispute resolution.

6 Personal Considerations to Keep in Mind Before Selling Your Business

Mon, 09 Jun 2025 23:00:31 GMT

Selling a business can be a difficult decision, and it’s important to consider a number of personal factors before making the decision to move forward. Here are six personal considerations to keep in mind before selling your business:

6 Personal Considerations:

1. Financial considerations: Selling a business can be a great way to cash in on years of hard work, but it’s important to consider the financial implications of the sale. Will the sale provide enough funds to support your lifestyle for the foreseeable future? Do you have enough money saved to live on after the sale, or will you need to find another source of income? These are important questions to answer before making the decision to sell.

2. Emotional considerations : Selling a business can be emotionally difficult, especially if you have built the business from scratch or have been running it for many years. It’s important to consider the emotional toll that the sale will take on you and your family. Are you prepared for the change in lifestyle that may come with the sale? Are you ready to let go of the business you have built and move on to something new?

3. Timing considerations: The timing of a sale can be just as important as the sale itself. Are there external factors that may affect the sale of your business, such as changes in the economy or changes in the industry? Are there internal factors that may affect the sale, such as the readiness of key employees or the need for major repairs or renovations? Timing can play a significant role in the success of a sale, so it’s important to consider the timing carefully.

4. Tax considerations: Selling a business can have a significant impact on your taxes, so it’s important to consider the tax implications of the sale. Will you be able to take advantage of any tax breaks or deductions? Will you need to pay capital gains tax on the sale? Are there any tax implications for your employees or other stakeholders? It’s important to consult with a tax professional to understand the tax implications of the sale before making a decision.

5. Legacy considerations: Selling a business can also have an impact on your legacy. Will the business continue to operate and grow under new ownership? Will the new owners maintain the values and culture that you have built? Will the sale have a positive impact on the community and the industry? Legacy considerations can be just as important as financial considerations, and should be taken into account when making the decision to sell.

6. Future considerations: Finally, it’s important to consider your future plans before selling a business. What are your future goals and aspirations? What kind of life do you want to lead after the sale? Will the sale allow you to pursue these goals and aspirations, or will it hold you back? It’s important to think about the future and how the sale will impact your plans before making the decision to sell.

Final Thoughts

In conclusion, selling a business is a major decision that requires careful consideration of a number of personal factors. From financial considerations to emotional considerations, timing considerations to tax considerations, legacy considerations to future considerations, it’s important to weigh all the pros and cons before making a decision. It’s also important to seek professional advice from legal, financial, and tax experts before making a decision.

With the right approach and careful consideration, you can make the decision that’s right for you and your business.

Avoiding Common Estate Planning Mistakes in Ohio

Mon, 09 Jun 2025 22:46:48 GMT

Estate planning is an important process that helps individuals and families prepare for the future by organizing their assets and making arrangements for the distribution of their property after they pass away. However, despite its importance, many people in Ohio make mistakes when it comes to estate planning. In this blog post, we will discuss some of the most common mistakes that people make and provide tips on how to avoid them.

Most Common Mistakes:

1. Not having a will. One of the most common mistakes that people make is not having a will. A will is a legal document that outlines how an individual’s property will be distributed after they pass away. Without a will, the state will determine how your property is distributed, which may not be in accordance with your wishes. It is important to have a will in place so that you can ensure that your property is distributed according to your wishes.

2. Not updating your will. Another mistake that people make is not updating their will. A will should be updated periodically to reflect changes in an individual’s life, such as the birth of a child, the acquisition of new property, or the death of a beneficiary. Failure to update a will can result in the distribution of property that does not align with an individual’s wishes.

3. Not creating a power of attorney. A power of attorney is a legal document that allows an individual to appoint someone to make decisions on their behalf if they are unable to do so. Without a power of attorney, a family member may need to go through the court system in order to make decisions on your behalf, which can be a lengthy and costly process.

4. Not discussing your estate plan with your beneficiaries. It is important to discuss your estate plan with your beneficiaries so that they understand your wishes and can carry them out after you pass away. Failure to do so can lead to confusion and disputes among family members.

5. Not considering tax implications. When estate planning, it is important to consider the tax implications of your plan. Failure to do so can result in a significant tax burden for your beneficiaries.

6. Not reviewing your plan regularly. Your estate plan should be reviewed regularly to ensure that it still aligns with your wishes and that it takes into account any changes in your life.

Final Thoughts

In conclusion, estate planning is an important process that helps individuals and families prepare for the future by organizing their assets and making arrangements for the distribution of their property after they pass away. However, many people in Ohio make mistakes when it comes to estate planning. To avoid these mistakes, it is important to have a will in place, update your will periodically, create a power of attorney, discuss your estate plan with your beneficiaries, consider tax implications , and review your plan regularly. By following these tips, you can ensure that your property is distributed according to your wishes and that your loved ones are taken care of after you pass away. Contact Brenden Kelley Law at 216-644-3359 to help avoid these common pitfalls.

Navigating a Hearing at a County Board of Revision in Ohio: What to Expect for Your Property Tax Complaint

Mon, 09 Jun 2025 22:45:42 GMT

A hearing at a County Board of Revision in Ohio can be a daunting experience for property owners who are concerned about the amount of taxes they are paying on their property. However, with a little bit of preparation and knowledge of what to expect, you can feel more confident and in control of the process.

Important Steps

1. Introduction: Understanding the Purpose of a County Board of Revision Hearing
2. Preparing for the Hearing: Setting a Date and Gathering Evidence
3. Presenting Your Case: Submitting Evidence and Testimony
4. The County’s Presentation: Understanding the Assessed Value of Your Property
5. The Decision and Next Steps: The Outcome and Possibility of an Appeal

What to Expect

The first thing to keep in mind is that the purpose of a hearing at the County Board of Revision is to give property owners an opportunity to contest the value of their property as assessed by the county. This value is used to determine the property taxes that you will be required to pay. If you believe that the assessed value of your property is too high, you can file a complaint with the County Board of Revision to have the value reviewed.

When you file your complaint, you will be given a date and time for your hearing. This will typically be several weeks or months after you file your complaint, so it is important to plan accordingly. On the day of your hearing, you should plan to arrive at least 30 minutes early to allow yourself time to check in and get settled.

Presentation

During the hearing, you will be given the opportunity to present evidence and testimony to support your complaint. This may include documents such as property appraisals, sales records, or photographs of your property. You may also be able to call witnesses, such as real estate agents or property appraisers, to testify on your behalf.

The county will also have the opportunity to present evidence and testimony to support their assessed value of your property. This may include comparable sales data, photographs, or other information about your property.

Once both sides have presented their evidence and testimony, the County Board of Revision will make a decision on your complaint. This decision may be made immediately following the hearing, or it may be delayed for several weeks or months.

The Decision

If the County Board of Revision decides in your favor, the assessed value of your property will be lowered, and your property taxes will be adjusted accordingly. However, if the County Board of Revision decides against you, the assessed value of your property will remain the same, and you will be required to pay the taxes based on that value.

In either case, it is important to keep in mind that the decision of the County Board of Revision is not final. If you are not satisfied with the decision, you have the right to appeal to the State Board of Tax Appeals.

Overall, a hearing at a County Board of Revision in Ohio can be a complex and intimidating process, but with a little preparation and knowledge of what to expect, you can feel more confident and in control of the situation. Remember to gather all necessary evidence and testimony, arrive early, and be prepared to present your case in a clear and persuasive manner.

Conclusion

In conclusion, if you believe that the assessed value of your property is too high and would like to contest the value, filing a complaint with the County Board of Revision is the first step. The hearing is the opportunity for you to present evidence and testimony to support your complaint and for the county to present their evidence and testimony to support their assessed value of your property. Remember that if the decision is not favorable, you have the right to appeal the decision to the State Board of Tax Appeals.

Understanding the Corporate Transparency Act: What Every Business Needs to Know

Mon, 09 Jun 2025 22:43:18 GMT

The Corporate Transparency Act (CTA) is a new law that was recently passed by Congress and is set to take effect in the near future. This law aims to increase transparency and accountability in the business world by requiring certain companies to disclose their beneficial ownership information to the government. In this blog post, we will discuss what every business needs to know about the CTA and how it may affect them.

Requirements

The CTA requires certain companies to disclose information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. Beneficial ownership refers to the individuals who ultimately own or control a company, as opposed to the individuals who may appear on paper as the owners or shareholders. This information will be kept confidential and will only be accessible to government agencies for specific law enforcement and national security purposes.

The CTA applies to companies that are formed under the laws of a U.S. state or Indian Tribe, and that are engaged in business, or that are formed for the purpose of engaging in business. This includes corporations, limited liability companies (LLCs), and other similar entities. It also applies to companies that are formed by filing a public organic record with the Secretary of State, such as a certificate of formation or articles of incorporation.

Important Things to Know

One of the most important things that businesses need to know about the CTA is that they may be required to disclose their beneficial ownership information to the government. This means that they will need to gather and provide information about the individuals who ultimately own or control the company. This may include information such as their name, address, date of birth, and government-issued identification number.

Another important thing for businesses to know is that the CTA imposes penalties for noncompliance. Companies that fail to disclose their beneficial ownership information as required by the CTA may be subject to fines and penalties. Additionally, individuals who knowingly provide false or fraudulent beneficial ownership information may be subject to fines, imprisonment, or both.

It is also important to note that the CTA does not require all companies to disclose their beneficial ownership information. However, it is essential to be aware of the law and its requirements in case your company falls under the scope of this law.

Conclusion

In conclusion, the Corporate Transparency Act is a new law that aims to increase transparency and accountability in the business world by requiring certain companies to disclose their beneficial ownership information to the government. Businesses need to be aware of the law and its requirements, as they may be required to disclose their beneficial ownership information to the government. Noncompliance may result in penalties and fines. Businesses should consult with their legal counsel to determine their obligations under the CTA and to ensure compliance.

S-corp vs. C-corp

Mon, 09 Jun 2025 22:42:01 GMT

S-corporations and C-corporations are two different types of business structures that are recognized under U.S. federal tax law. Both types of corporations provide limited liability protection to their shareholders, which means that shareholders are not personally liable for the company’s debts and liabilities. However, there are some key differences between the two types of corporations that can have a significant impact on how the business is taxed and operated.

What’s the Difference?

One of the main differences between S-corporations and C-corporations is the way they are taxed. C-corporations are considered to be separate entities from their shareholders, and they are subject to corporate income tax on their profits. In contrast, S-corporations are considered to be “pass-through” entities, which means that the company’s profits are passed through to its shareholders and taxed at the individual level.

This pass-through taxation can be a significant advantage for S-corporations, as it can help to avoid the “double taxation” that can occur with C-corporations. For example, if a C-corporation earns $100,000 in profits, it would be taxed at the corporate level, leaving $70,000 after corporate taxes. If the company then distributes the remaining $70,000 to its shareholders as dividends, the shareholders would then have to pay personal income tax on those dividends. With an S-corporation, the $100,000 in profits would be passed through to the shareholders and taxed at the individual level, avoiding the additional corporate tax.

Another difference between S-corporations and C-corporations is the number of shareholders they can have. S-corporations are limited to 100 shareholders, while C-corporations can have an unlimited number of shareholders. This can be a significant consideration for companies that are planning to go public or that have a large number of investors.

There are also some restrictions on the types of shareholders that S-corporations can have. For example, S-corporations cannot have non-resident alien shareholders, and they cannot have more than one class of stock. This can limit the flexibility of the business in terms of raising capital and issuing stock options.

Advantages

In terms of flexibility and management, C-corporations can have a board of directors, while S-corporations cannot. However, S-corporations can have more flexibility in terms of profit distribution. Unlike C-corporations, S-corporations are not required to distribute profits equally among shareholders, and they can choose to retain profits in the business if they wish.

Another advantage of S-corporations is that they are considered to be “Small Business Corporation” and they can enjoy certain tax benefits which are not available to C-Corporations.

Disadvantages

One of the main disadvantages of S-corporations is that they can be more complex to set up and maintain than other types of business structures, such as sole proprietorships or partnerships. They are also subject to more regulatory requirements, such as holding annual meetings and keeping detailed records of the company’s financial and operational activities.

C-corporations also have their own advantages and disadvantages. They are considered more stable and with more prestige. They can also raise capital more easily and attract more investors, but it comes with the trade-off of double taxation.

Final Thoughts…

In conclusion, whether to choose an S-corporation or C-corporation depends on the company’s specific needs and goals. S-corporations can be a good option for small businesses that want to avoid double taxation and have a relatively small number of shareholders. However, they may not be the best option for companies that are planning to go public or have a large number of shareholders, as they have restrictions on the number of shareholders and types of shareholders they can have. C-corporations, on the other hand, may be a better option for larger companies that plan to raise capital and have more flexibility in terms of profit distribution and management structure. It’s important to consider all aspects of each type of corporation, weigh the pros and cons, and seek professional advice to determine which structure best suits your business.

Securing Your Pet’s Future: How to Create a Trust for Your Furry Friends

Mon, 09 Jun 2025 22:40:39 GMT

A pet trust is a legal agreement that allows you to set aside money and property for the care of your pets in the event of your death or incapacity. Setting up a pet trust can provide peace of mind for pet owners, knowing that their furry companions will be taken care of and protected even after they are gone.

Establishing a pet trust

When setting up a pet trust, you will need to name a trustee, who will be responsible for managing the trust and using the funds to care for your pets. You will also need to name a beneficiary, who will be the person or organization responsible for physically caring for your pets. It is important to choose someone who you trust and who will be able to provide a loving and suitable home for your pets.

In addition to naming a trustee and beneficiary, you will also need to specify the terms of the trust, including how the funds will be used to care for your pets. This can include things like food, veterinary care, grooming, and other necessary expenses. You can also specify any special instructions for the care of your pets, such as certain types of food or veterinary treatments that they may need.

Once the trust is established, you will need to fund it. This can be done through a variety of methods, such as making a lump sum contribution, setting up a regular contribution plan, or transferring ownership of property or assets to the trust. It is important to work with an attorney to ensure that the trust is properly funded and that all legal requirements are met.

One of the benefits of setting up a pet trust is that it can provide long-term care for your pets, even if you outlive them. In this case, the remaining trust funds can be used to cover the costs of caring for other animals in need, such as those at a local animal shelter.

It is also important to keep in mind that pet trusts are subject to state laws, so it is essential to consult with an attorney who is experienced in this area. You should also regularly review and update the trust as needed, in order to ensure that it continues to meet the needs of your pets and to stay current with any changes in laws.

In conclusion

Overall, setting up a pet trust is a responsible and loving way to ensure that your pets will be protected and cared for even after you are gone. It can provide peace of mind for pet owners and ensure that their beloved companions receive the best possible care. If you’re looking to secure your pets’ future, contact Brenden Kelley Law at 216-644-3359 to discuss protecting your pets through a dedicated pet trust.

Understanding Employers’ Requirements for Filing IRS Form 1099-NEC

Mon, 09 Jun 2025 22:39:29 GMT

An IRS Form 1099-NEC, or Nonemployee Compensation, is used to report income that was paid to individuals or unincorporated businesses that are not considered employees. Employers are required to file this form for certain types of payments made during the tax year.

Why should an employer file a 1099-NEC?

There are several different situations where an employer may be required to file a 1099-NEC. One common scenario is when an employer pays an independent contractor for services rendered. This can include everything from construction work to consulting services. In this case, the employer would be required to file a 1099-NEC for any payments made to the independent contractor that exceed $600 during the tax year.

Another situation where a 1099-NEC may be required is when an employer pays rent to a landlord who is not considered an employee. If an employer pays rent to a landlord that exceeds $600 during the tax year, they would be required to file a 1099-NEC for that landlord.

Employers are also required to file 1099-NEC for miscellaneous income. This could include payments made for prizes and awards, as well as other types of non-wage income. In this case, the employer would be required to file a 1099-NEC for any payments made to the recipient that exceed $600 during the tax year.

It’s important to note that the requirement to file a 1099-NEC is not based on whether or not the recipient is required to pay taxes on the income. Instead, the requirement is based on the amount of money paid to the recipient. As long as the payments made by the employer exceed $600 during the tax year, a 1099-NEC will be required.

When to file the 1099-NEC form

Employers are required to file 1099-NEC forms by January 31st of the year following the tax year in which the payments were made. This means that for payments made in 2020, the forms must be filed by January 31, 2021. Employers must also provide a copy of the form to the recipient by January 31st as well.

Failure to file a 1099-NEC when required can result in penalties imposed by the IRS. The penalty can range from $50 to $280 per form, with a maximum penalty of $1,112,500 per year for small businesses, and $5,562,500 for larger businesses.

Conclusion

In summary, an IRS Form 1099-NEC is used to report income paid to individuals or unincorporated businesses that are not considered employees. Employers are required to file a 1099-NEC when they pay an independent contractor, rent or any other miscellaneous income that exceeds $600 during the tax year. Forms must be filed by January 31st of the year following the tax year in which the payments were made, and failure to file can result in penalties imposed by the IRS.

Maximizing Your Tax Advantages: The Importance of Estate Planning

Mon, 09 Jun 2025 22:38:20 GMT

Estate planning transcends simple asset distribution; it’s a strategic approach to preserve and enhance your financial legacy for your heirs through maximizing tax advantages. This process is crucial for ensuring that your hard-earned assets are passed on efficiently and in alignment with your final wishes.

Leveraging Federal Estate Tax Exclusion

One of the most significant benefits of estate planning is utilizing the federal estate tax exclusion. Currently set at $11.7 million per person, this exclusion allows you to pass a substantial amount to your heirs tax-free. For estates exceeding this threshold, thoughtful planning is key to minimizing the tax impact . Stay informed about potential legislative changes, as tax laws can evolve, affecting your estate planning strategies .

The Power of Trusts in Tax Reduction

Trusts serve as a cornerstone in reducing estate taxes. Various trusts, like irrevocable life insurance trusts and charitable remainder trusts, offer distinct tax benefits. For high-income earners and individuals with significant assets, trusts can be structured to provide income to beneficiaries while optimizing tax efficiencies.

Recent Tax Law Changes

Keep abreast of recent tax law changes, as they can significantly impact your estate planning . These changes could provide new opportunities or challenges in how you structure your estate for tax purposes. Notably, in 2026, the current federal estate tax exemption of $11.7 million is set to expire and is projected to be nearly halved. This impending change necessitates a strategic review of your estate plan to adapt to the reduced threshold and minimize potential tax implications for larger estates.

Incapacity Planning: Beyond Tax Benefits

While powers of attorney and living wills are essential for incapacity planning, their direct impact on tax advantages may be less apparent. However, they play a crucial role in a well-rounded estate plan, ensuring your assets are managed as per your wishes in unforeseen circumstances.

Utilizing Gift Splitting and Marital Deduction

Gift splitting allows you to transfer assets to your spouse effectively, leveraging the lower tax rates for married couples. Additionally, the unlimited marital deduction is an essential tool in estate planning, enabling a significant reduction in estate taxes.

Conclusion

Estate planning is more than just preparing for the future; it’s about creating a tax-efficient strategy for your legacy. Consult with a skilled estate planning attorney to navigate the complexities of tax laws and develop a plan that best suits your financial goals and family’s needs.

Legal Malpractice in the Buckeye State: Understanding Conflict of Interest

Mon, 09 Jun 2025 22:31:07 GMT

Legal malpractice occurs when an attorney fails to provide their client with the standard of care that a reasonable attorney would in a similar situation. One type of legal malpractice is a conflict of interest, which arises when a lawyer represents multiple clients, and their interests clash. In Ohio, lawyers are bound by the Ohio Rules of Professional Conduct, which govern their conduct.

Rule 1.7 outlines the regulations concerning conflicts of interest. According to this rule, a lawyer cannot represent a client if the representation would directly oppose another client’s interests or if there is a substantial risk that the representation would be significantly restricted by the lawyer’s responsibilities to another client or to a third party.

Examples:

An illustrative example of a conflict of interest arises when an attorney represents both parties in a divorce case. In such a scenario, Rule 1.7 would be violated as the interests of each party are directly adverse to one another. Consequently, the attorney would be incapable of providing the best representation to either party, breaching their duty to their clients.

Another instance of a conflict of interest occurs when an attorney represents a client in a personal injury case and later discovers that they had previously represented the opposing party in a related matter. This situation would breach Rule 1.9, which prohibits a lawyer from representing a client in a matter substantially related to one in which they had previously represented another client. In this case, the attorney would possess confidential information from the prior representation that could harm the current client.

Another common example of a conflict of interest arises when an attorney represents a business entity and has previously provided legal counsel to both of its partners. One day, a conflict erupts between the two partners, leading them to initiate a lawsuit against each other concerning the business. If approached by the two clients to represent them in this dispute, the attorney should recognize the conflict of interest. Having previously represented both partners and the business, the attorney cannot ethically pick sides in a dispute that involves conflicting interests. In this scenario, the attorney’s duty to each client, as well as their duty to the business, would create an untenable conflict that prevents them from providing effective legal representation.

Handling Conflict of Interest:

In Ohio, when an attorney identifies a potential conflict of interest, they are obligated to disclose it to their client and obtain the client’s informed consent before proceeding with representation. Moreover, the attorney must provide the client with a written explanation of the potential conflict and the associated risks. This empowers the client to make an informed decision about whether to proceed with the representation or seek alternative legal counsel .

Failure to disclose a conflict of interest and proceeding with representation can result in legal malpractice liability. This could entail the lawyer being held accountable for any damages sustained by the client due to the conflict. Additionally, the attorney may face disciplinary action by the Ohio Supreme Court, which possesses the authority to revoke or suspend a lawyer’s license to practice law.

In Conclusion:

Legal malpractice stemming from conflicts of interest is a significant concern in Ohio. Lawyers are obligated to reveal any potential conflicts of interest to their clients and secure their informed consent before proceeding with representation. Neglecting this duty could lead to legal malpractice claims and disciplinary action by the Ohio Supreme Court. Clients must be aware of their rights and the potential risks associated with being represented by an attorney with a conflict of interest. If clients have concerns regarding a possible conflict of interest, seeking advice from another attorney is advisable.

Unlocking Value: The Advantages of Choosing Flat Fee Lawyers

Mon, 09 Jun 2025 22:29:06 GMT

For those unaccustomed to legal services offered on a flat fee basis, the prospect might appear novel and even revolutionary. Traditionally, the legal industry has been associated with hourly billing, leaving clients wondering about costs and hesitant to seek assistance. However, the emergence of flat fee lawyers brings forth a wave of benefits that cater directly to your needs and comfort. Let’s explore why embracing this modern approach is a game-changer.

What is a Flat Fee Lawyer and Why Use One?

A flat fee lawyer, also known as a fixed fee lawyer, is a legal professional who offers legal services at a predetermined, fixed cost for a specific scope of work. Unlike the traditional hourly billing model, where clients are billed based on the amount of time the lawyer spends working on their case, a flat fee lawyer charges a set fee for a particular legal service or task. The benefits of using a flat fee lawyer are numerous.

Transparent Cost Structure: Traditional hourly billing can often leave clients anxious about unexpected costs. Flat fee lawyers, on the other hand, offer a clear and upfront cost structure. This means you’re fully aware of the financial commitment from the outset, allowing you to plan your budget effectively without fearing hidden expenses.
Predictable Budgeting: With flat fee services, you know exactly what you’re paying for the legal services you need. This predictability empowers you to allocate resources more efficiently, ensuring that you’re financially prepared for your legal matters without the stress of fluctuating hourly rates.
Efficiency and Focus: Flat fee lawyers work with the goal of delivering results rather than stretching hours. This incentivizes them to work diligently and swiftly, focusing on achieving the best outcome for your case. The emphasis is on providing value-driven solutions instead of running up the clock.
Tailored Services: Contrary to the notion that a flat fee model might be restrictive, it actually encourages lawyers to offer tailored services. Your lawyer will work closely with you to understand your unique needs, ensuring that the legal assistance provided is precisely what you require.
Collaborative Approach: Flat fee lawyers thrive on building strong client relationships. Their success is intertwined with yours, and they are motivated to collaborate effectively, communicate transparently, and work alongside you to resolve your legal challenges.
Eliminating Uncertainty: Legal proceedings can be inherently uncertain, but your financial commitment doesn’t have to be. Flat fee services provide clarity and peace of mind, allowing you to focus your energy on the legal matters at hand rather than worrying about billing intricacies.
Diverse Expertise: Flat fee lawyers often cover a broad spectrum of legal areas, from business and contracts to estate planning and real estate. This diversity ensures that you have access to legal expertise across different domains without the stress of varying billing methods.

In embracing the benefits of flat fee lawyers, you’re opting for a model that prioritizes transparency, efficiency, and client-centricity. As you venture into this innovative approach, you’ll discover that the legal landscape can indeed be navigated with a more streamlined, cost-effective, and results-driven approach, tailored to your individual needs. Explore the realm of flat fee legal services and experience firsthand the advantages they bring to your legal journey.

Flat Fee Lawyers at Brenden Kelley Law

Embrace the future of legal services by exploring the world of flat fee lawyers. Say goodbye to the uncertainty of traditional billing and welcome the transparency, cost-efficiency, and personalized attention that the flat fee model provides. Contact us to discover how our experienced flat fee lawyers can partner with you on your legal journey. Take the first step toward a more accessible, predictable, and client-focused legal experience today.

Top 10 Mistakes Ohio Property Owners Make When Contesting Property Valuation

krisca.mariano@mycase.com (Krisca Mariano) — Mon, 09 Jun 2025 22:27:43 GMT

As a property owner in Ohio, it’s important to know your rights when it comes to contesting the county’s valuation of your real estate. However, many property owners make mistakes that can hurt their chances of success at the Board of Revision or Board of Tax Appeals. In this post, we will take a look at the top 10 mistakes Ohio property owners make when contesting their property’s valuation, and provide tips on how to avoid them.

Top 10 Mistakes and Tips for Ohio Property Owners

Not gathering enough evidence to support their case.

It is important for property owners to provide the Board of Revision or Board of Tax Appeals with a substantial amount of evidence to support their claim that the county’s valuation of their property is too high. This can include information such as comparable sales, property inspections, and other documentation that supports their position.

Not being prepared for the hearing.

Property owners should prepare to present their case to the Board of Revision or Board of Tax Appeals. This entails being knowledgeable about relevant laws and regulations, organizing and readily accessing all evidence, and being ready to respond to any inquiries.

N ot understanding the appeals process.

Property owners should be familiar with the steps involved in the appeals process. This includes the deadlines for filing an appeal, the types of evidence that are required, and the procedures that will be followed during the hearing.

Not hiring an attorney.

Although hiring an attorney for the appeals process is not mandatory, it often benefits property owners. An attorney can help property owners navigate the legal system, gather evidence, and make the best case possible in front of the Board of Revision or Board of Tax Appeals.

Not presenting their case clearly and concisely.

Property owners should be able to present their case in a clear and concise manner. They should highlight the reasons why they believe the county’s valuation of their property is too high and providing evidence to support their position.

Not staying within the scope of the hearing.

During the hearing, property owners must focus solely on contesting the county’s property valuation and avoid bringing up irrelevant issues or complaints.

Not being respectful and professional.

Property owners should be respectful and professional during the hearing, avoiding any personal attacks or outbursts that may harm their case.

Not providing enough detail.

Property owners should provide as much detail as possible in their evidence and testimony, including specific comparable sales, property inspections and any data that support their case.

Not challenging the county’s evidence.

Property owners should not be afraid to challenge the county’s evidence, pointing out any errors or inconsistencies that may weaken their case.

Not following up after the hearing.

After the hearing, they should contact the Board of Revision or Board of Tax Appeals to confirm their case’s processing and learn the appeal’s result.

Final Thoughts.

In summary, contesting a property’s valuation effectively requires property owners to be informed, organized, and respectful at the Board of Revision or Board of Tax Appeals hearings. By avoiding these common mistakes, property owners can increase their chances of successfully reducing their property taxes . However, it’s also important to keep in mind that property owners should have a good knowledge of the county’s laws, regulations and the appeals process. It is also advisable to consult with an attorney if you are not sure about any step in the process. Contact Brenden Kelley Law today at 216-644-3359 to discuss how we can help you contest your property valuation.

Mapping Your Family’s Legacy: The Art of Crafting an Estate Plan

Mon, 09 Jun 2025 22:26:22 GMT

If you have young kids, it’s safe to say you have a busy life, especially during the back-to-school period as you get your kids ready for the new school year. Aside from shopping for supplies and new clothes, you’ll have to plan for school runs and after-school activities. With so much to do and juggling it with work and other responsibilities, it’s easy to forget about the future. Safeguarding your kids’ future with a comprehensive estate plan should be one of your top priorities, and there’s no better time to do it than the back-to-school period.

Why Estate Planning Is Important for Parents and Guardians

Being part of your child’s life as they grow, finish school, start working, and build a life of their own is every parent’s dream. Sadly, you may not be there for your children during all those stages.

Even still, you can protect them from unnecessary hardships with an estate plan. Contrary to what many believe, estate plans are not just for the wealthy or elderly. They’re for anyone who has people who depend on them and deeply care for them, especially children.

By crafting an estate plan, you empower yourself to make important decisions about their future and financial security, even if the unexpected occurs. Taking this crucial step demonstrates your love and commitment to securing your family’s future.

What to Include in an Estate Plan

During estate planning, there are several key elements you should consider to ensure your dependents are fully protected in your absence. They include the following:

1. A Will

The foundation of any estate planning efforts is the will. It allows you to express your desires regarding the distribution of your assets and ensures that your children are cared for by the right people if you’re no longer there to do so yourself. Having a legally sound will is crucial, and it’s something you should prioritize as a parent or guardian should.

2. Trust for Your Children

While the will may dictate how your assets are distributed, children under 18 cannot take charge of them. Set up a trust to reduce the likelihood of disputes over your assets and protect your children’s inheritance .

It will manage your assets according to your desire until the children can assume control.

3. Designated Party With the Power of Attorney

Besides death, you may be unable to attend to your children’s needs due to incapacitation. For such situations, designate power of attorney to someone you can trust to cater to the best interest of your dependents.

Doing so will give that individual the authority to make legal and financial decisions for you, ensuring your business affairs and children’s needs are met.

4. Healthcare Directives

Another element of estate planning is issuing medical directives. Even with a will and a trusted person with power of attorney, it’s important to issue clear directives relating to your medical preferences. Along with guiding the person making decisions on your behalf, it ensures your wishes are respected.

5. Life Insurance

When you’re no longer around to provide for your family, purchasing a life insurance policy is one of the best ways to give them financial support and stability. To ensure it adequately covers your family’s needs, review the terms carefully.

Consult an Estate Planning Attorney for Peace of Mind

It’s never a pleasant thought to imagine your children growing without you. But what’s worse is leaving them to struggle should something happen to you. Considering the stakes involved, the complexity of the process, and legal considerations, consulting with an estate planning attorney is highly recommended.

At Brenden Kelley Law, we offer legal services to families in Cleveland, OH, and the surrounding areas. From lawsuits to estate planning, we are ready to assist you. Contact Brenden Kelley Law at 216-644-3359 to get an estate planning attorney you can count on.

The Roadmap to a Successful Dental Practice Acquisition

Mon, 09 Jun 2025 22:24:49 GMT

Navigating the journey to buy a dental practice requires careful planning and meticulous attention to detail. It’s not merely a financial investment; it’s a commitment to aligning the practice with your professional aspirations. As you embark on this exciting journey, let’s simplify the legal aspects and set the foundation for your success.

Our guide is designed to provide you with clear insights into the complex topics that surround dental practice acquisition. By understanding contracts, conducting thorough due diligence, and making informed decisions, you can reduce risks and increase your chances of success.

Acquiring a dental practice is more than a transaction; it’s a step toward realizing your vision of providing quality dental care. We’re here to guide you every step of the way, ensuring that your investment is not only legally sound but also successful. Discover, empower, and flourish in this transformative journey. Your path to ownership starts here.

Navigating the Purchase of a Dental Practice

Acquiring a dental practice demands thorough planning and meticulous attention to detail. It involves not just a financial investment, but also a commitment to aligning the practice with your professional aspirations.

During the due diligence phase, it’s crucial to conduct a comprehensive market analysis of the area. This analysis helps you understand the community’s dental needs and the competitive landscape, which are key factors in the practice’s future success. Additionally, it’s important to ‘kick the tires’ – essentially, verifying the accuracy of the information provided by the seller. This includes assessing whether the patient load is primarily insurance and fee-for-service or predominantly Medicare or Medicaid patients.

Another critical aspect is reviewing existing treatment plans to identify potential areas for improvement and growth. This step provides insights into the practice’s operational efficiency and patient care standards.

As you delve into the due diligence, examine key documents thoroughly:

Tax returns
Profit and Loss statements
Accounts Receivable reports
Monthly collection reports
Equipment inventories
Staff information and personnel records

Evaluating patient compatibility, team dynamics, and existing business strategies is also vital. Consider the practice’s location, market positioning, and existing marketing strategies to gauge its potential for success. If the practice aligns with your professional goals, proceeding with a Letter of Intent would be the next logical step.

Remember, acquiring a dental practice is more than a transaction. It’s a step towards realizing your vision for providing quality dental care. Thus, making informed decisions at each stage of this process is key to a successful transition and future growth.

Understanding the Purchase Agreement

A key step in buying a dental practice is the careful negotiation and drafting of the Purchase Agreement. This critical document outlines the terms of the sale, setting clear responsibilities and protections for both parties, which helps minimize financial risks and potential disputes. Essential components of a well-crafted Purchase Agreement include:

Structure of the purchase price
Conditions for completing the sale
Provisions specific to dental practices
Restrictive covenants, including non-compete and non-solicitation clauses
Warranties provided by the seller
Defined limits of liability

It’s important for buyers to consider the tax implications involved in the transaction. The choice of the legal structure for the practice is a crucial decision. When finalizing the purchase, options typically include a cash payment at closing, arranging a promissory note with the seller, or obtaining a loan from a bank. Understanding the tax implications of these choices and how they relate to the Purchase Agreement is essential for a successful acquisition of a dental practice. Careful consideration of these financial and legal aspects will contribute to a seamless transition and the future prosperity of your dental practice.

Important Considerations for Dentists

When stepping into the realm of dental practice ownership, several critical considerations come into play as you prepare to take the reins. These aspects go beyond the legal framework but are vital for a smooth transition and successful management of your practice.

Lease Agreement: If the property is not part of the purchase, finalizing a new lease agreement with the landlord is a crucial step. Ensuring favorable lease terms and a suitable location for your practice is essential for long-term success.
Inspecting Infrastructure: Before fully taking over, it’s imperative to inspect the practice’s infrastructure thoroughly. This includes the electrical and plumbing systems. Additionally, assess the condition of all equipment, including dated machinery that may need upgrading, such as a new 3D dental X-ray machine.
Software Familiarization: Familiarize yourself with the software used by the business, especially the dental practice management solution. Understanding its features and functionalities will streamline your practice’s daily operations.
Supplier Meetings: Schedule meetings with your suppliers, whether it’s Henry Schein, Patterson Dental, or others. Establishing a strong working relationship with your suppliers ensures a smooth flow of essential dental supplies and equipment.
Staff Evaluation: Review the existing staff and their roles within the practice. Assess whether they are being fully utilized, identify any potential areas for improvement, and consider their long-term commitment to the practice. It’s essential to approach any necessary staff changes thoughtfully to avoid disruption.
Slow and Steady: While you may have plans for enhancing various aspects of the practice, it’s advisable to implement changes gradually. Sudden and significant changes can unsettle both staff and patients. Maintain open communication and involve the team in the process to foster a positive transition.
Other Considerations: Depending on the specific circumstances of the practice, there may be additional factors to address. These could include inventory management, marketing strategies, and community outreach programs to establish your presence in the area.

As you prepare to take ownership, these considerations will play a pivotal role in shaping your practice’s future success. Remember that a thoughtful and methodical approach is key to ensuring a seamless transition and a thriving dental practice.

Insights for a Successful Transition

Let’s explore the considerations for new dental practice owners.

Reviewing Patient Records

Going through patient records is not just a procedural step. Analyzing treatment records gives you insight into the selling dentist’s methods. To avoid potential conflicts, it might be necessary to align your treatment approach with patient expectations. Educating patients about their treatment options is crucial, particularly when you first start treating them.

Patient Fee Structures

Evaluating patient fee structures is also important. Practices involving discounts, waivers, or barter systems can significantly influence patient loyalty. It’s vital to understand your contractual obligations, particularly regarding copayment waivers, to prevent any breaches of insurance agreements. Remember, dealing with insurance companies can be challenging even in the best circumstances.

Planning for Associates

If your practice includes associates, or if you plan to bring associates on board, strategic planning is essential. Consider aspects ranging from marketing and cash flow to patient loyalty. Anticipate some employee turnover as an unfortunate but common aspect of practice transitions.

Ongoing Compliance

Post-acquisition, maintaining compliance is an ongoing task. Regulations continually evolve – from new HIPAA mandates and IRS rule changes to local property tax adjustments. Having a robust support team, including an attorney and an accountant, is invaluable for staying a head of these changes and ensuring your practice remains compliant.

Assembling Your Support Team

Buying a dental practice is a lengthy process that requires meticulous planning. The journey begins with due diligence, ensuring the practice aligns with your goals and meets your expectations for ownership. Following this, the focus shifts to negotiation and drafting the Purchase Agreement. While price is often the primary concern, it’s equally important to scrutinize details like non-compete clauses, contract conditions, liabilities, and tax planning.

After transitioning into the practice, the work doesn’t stop. Ongoing legal and compliance tasks are crucial. This includes reviewing patient records, evaluating fee structures, strategizing marketing efforts, and seeking continuous legal guidance. These elements collectively shape the future of your practice.

For a successful transition, assembling a strong support team is essential. Dental practice consultants, attorneys, and accountants are fundamental. Additionally, advice from individuals experienced in dental practice management can be invaluable. If you’re ready to embark on this journey, consulting with an attorney to make informed decisions is critical. Contact Brenden Kelley Law at 216-644-3359 for personalized assistance in opening and managing your dental practice.

Lack of Proper Will Fuels Aretha Franklin’s Estate Battle

Mon, 09 Jun 2025 22:22:22 GMT

A will ensures that when the time comes, your estate planning will be managed per your final wishes. Without one, your children and grandchildren could end up in an estate battle. Should you pass intestate (without a will), the courts get involved and assets get distributed. This is according to a myriad of state laws, a stressful process that impacts all those you leave behind.

There’s no greater example of this than the estate of R&B legend Aretha Franklin. Her passing prompted a years-long legal battle amongst her family that illustrates why it’s so important to manage formal estate planning.

The Aretha Franklin Estate Battle

Passing in 2018, the Queen of Soul left her family in a legal quagmire. They initially believed she left behind no will. According to estate law, that meant her assets would likely get split among her sons. But someone eventually discovered more than one handwritten document concerning her last wishes in the singer’s Detroit home. Two docs were wills handwritten four years apart. They created a riff as the family argued about which one was authentic.

There were wills and paperwork, all had revisions and notes in the margins concerning inheritance terms and how they impacted beneficiaries. Franklin obviously had varying ideas about how to manage her estate. Unfortunately, she never finalized anything legally or properly.

Without proper estate planning , the survivors reluctantly turned to the courts to help determine which will be valid.

Earlier this year, a jury agreed the newer document — written in 2014; found under a couch cushion in Franklin’s home — took precedence over the older one. (A decision not unusual in these matters.)

The Validity of Handwritten Wills

Each state has a set of guidelines based on specific laws for validating a will. In general, they require the document to have at least two neutral witnesses, the date, and all appropriate signatures. You may need notarization. It’s also a good idea to have a legal representative, the party who ensures that the will’s preparation and execution meet all obligations and avoid conflict.

Some states accept handwritten wills. Ohio is one of them. Ohio requires that the document is signed by the testator (the individual who made the will) or their representative (who doesn’t have to be a lawyer). That will also need the signatures of two competent witnesses.

A holographic will is a handwritten will that meets all the criteria. To verify authenticity, the court may ask about witnesses and require testimony. That’s especially true if someone contests the document. The court will want authentication of the testator’s writing and signature. Depending on the circumstances, the court may want verification via identification by individuals familiar with the testator or through the expert testimony of a handwriting pro.

In Ohio, a holographic will has to satisfy the same conditions as a conventional document. Some attorneys may not support this document as they are difficult to validate before the court. These wills can also contain errors or lack clarity, all of which are pitfalls. These conditions can only undermine the deceased’s well-intentioned objectives.

Why You Want a Proper Will

With a will, there’s a clear statement of how asset distribution is to be administered. The document minimizes time in court and helps prevent time-consuming, costly disputes. In larger estates, a well-developed will may help reduce estate taxes . You can appoint an executor in the document, a trusted entity for ensuring your instructions get followed to the letter. If you do not, the court appoints someone for you, which may not be the ideal solution.

Many think wills and estate planning are only for the well to do. However, even if an individual has a modest estate and they die intestate (without a will), it can leave loved ones confused and scrambling as to what they should do. A simple will can be a detailed list of instructions that straightforwardly manage not just the future of your financial and personal affairs but the peace of mind of those left behind.

Last Thoughts

Many of us are understandably locked in the right now and not giving much thought to what could come tomorrow.

Ask yourself the following questions:

If you were gone, who would you want to provide for and protect?
What do you have and who would you want to have it?
If there are minor children in your life, what would happen to them?
Whom do you trust to make sure there’s no conflict of interest in overseeing assets you leave loved ones?

These are basic questions everyone can ask because the answers are the beginning of a will’s foundation. You don’t need all the answers immediately, but the seeds build the focus for a proper will.

The idea of a will can be overwhelming. You might be hesitant to consider a future that’s distressing and potentially dark. But you should consider a future without you and what would happen too. That’s a good reason to think about estate planning. If you would like help creating an estate plan for you and your family, please contact Brenden Kelley Law at 216-644-3359.

Small Business Confidence Up in Wake of New Economic Data on Inflation

Mon, 09 Jun 2025 22:20:40 GMT

Small businesses are usually the most affected by inflation. This is because they have limited access to capital, bargaining power, and pricing power compared to larger corporations. Many small companies went out of business during the COVID-19 lockdown, and those who remained afloat barely made it through.

More recently, small business owners have had to contend with inflation driving up the cost of operations while also reducing consumer purchasing power. This has forced organizations to tighten their belts to ensure they don’t go out of business. However, there’s finally some good news on Main Street regarding inflation, and the recent economic data gives small business owners the confidence to keep going.

How Inflation Impacts Small Businesses in Particular

Inflation refers to the sustained increase in the general price level of goods and services in an economy over a period of time. It means that, on average, prices are rising, and each currency unit can buy less than it previously could. Inflation occurs when there is an imbalance between the supply of money and goods and services in an economy.

Inflation impacts every sector but significantly affects smaller businesses due to their limited resources to combat rising costs. In 2022, the National Federation of Independent Business reported that nearly 90% of small businesses stated that inflation unfavorably impacted their business.

Here are some ways in which inflation can impact small businesses :

Rising Costs

Inflation often leads to an increase in the prices of goods and services. Small businesses, especially those operating on narrow profit margins, may struggle to absorb these rising costs. When overhead costs rise, small businesses are forced to either increase their prices, which could reduce customer demand, or find ways to cut expenses elsewhere, such as reducing staff or compromising the quality of their products or services.

Reduced Consumer Spending

As the general price level rises due to inflation, consumers’ purchasing power decreases. This can result in reduced spending on non-essential items, negatively affecting small businesses that rely heavily on discretionary consumer spending. Small retailers, restaurants, and entertainment venues may experience a decline in sales as consumers prioritize essential purchases.

Financing Costs

Inflation can affect borrowing costs, including interest rates on loans and lines of credit. Small businesses that rely on external financing may face higher interest expenses, making it more expensive to expand operations, invest in new equipment, or undertake other growth initiatives. This can limit their ability to compete with larger enterprises with more substantial resources.

Inventory Management Challenges

Inflation can create difficulties in managing inventory for small businesses. If prices rise rapidly, companies may face challenges in accurately forecasting future demand and determining optimal inventory levels. Overstocking could lead to increased carrying costs and potential losses if demand doesn’t meet expectations while understocking could result in missed sales opportunities and dissatisfied customers.

Wage Pressures

Inflation can create wage pressures as employees seek to maintain their purchasing power. Small businesses may face challenges in offering competitive wages to attract and retain talent, especially if they are unable to increase prices or generate sufficient revenue growth. This can lead to higher labor costs and potentially impact profitability.

Good News for Small Businesses

Most people view inflation as the Big Bad, and it is easy to see why. If you had $300,000 in your savings account in 2005, that amount wouldn’t go as far in 2023. Inflation is always happening, so by understanding this, small business owners can find ways to cushion themselves during dire times.

The Federal Reserve tries to maintain a 2% inflation rate per year. This is because anything lower than that may weaken the economy. The inflation rate in June 2022 was 9.1%. The good news is that this number has been steadily decreasing since November, and the future looks somewhat brighter, especially for small business owners.

According to the Consumer Price Index, the inflation rate in November 2022 was 7.1%, and by the time the year was closing out, it had dropped even further to 6.5%. A June 2023 CPI report confirms inflation to have cooled to 3%, which offers some great news to small businesses especially.

Small business owners are seemingly optimistic about the economy, with 25% of companies planning for capital expenditures in the next 3–6 months. This is a 4% increase from 21% at the start of the year and a 6% increase from 19% following the March bank failures.

19% of small business owners from another survey said they intend to create new jobs in the coming three months. 40%, up from 34% last year, describe their current conditions as good, while 46% report they expect revenue to increase in the next year.

Bad News for Small Businesses

Despite the uptick in optimism, small business owners still view inflation, supply chain disruptions, and labor quality as their top concerns. While companies are hiring, an NFIB survey reported that 44% of owners were struggling to fill the reported job openings. 63% of owners said they were hiring in May, but nearly 90% said they couldn’t find qualified applicants for open positions.

Small business owners may also find themselves with another situation on hand as a UPS strike looms. With the contract between UPS and 340,000 UPS workers represented by the Teamsters Union expiring on July 31, employee pay remains a sticky point. Union workers account for over half of UPS’s workforce. Therefore, a strike could be devastating for the company and small businesses relying on the carrier.

The looming strike comes 25 years after a similarly larger strike by 185,000 workers brought the courier to a standstill. The strike, which lasted for 15 days, slashed package deliveries and put a strain on the US Postal Service and FedEx, who had to pick up the pace, effectively paralyzing businesses nationwide.

If a deal is not reached by the deadline, the strike will cause broader supply chain disruptions, and small business owners may need to find alternative ways to ship their last-mile deliveries to cope.

5 Tips to Help Small Businesses Mitigate the Impact of Inflation

Monitor and Adjust Prices

Regularly review your pricing strategy and assess the impact of inflation on your costs. Consider adjusting prices accordingly to maintain profit margins. However, it’s essential to strike a balance between maintaining profitability and remaining competitive. Communicate any price adjustments transparently with your customers to manage their expectations.

Manage Costs

Analyze your cost structure and identify areas where you can reduce expenses or find efficiencies. Look for opportunities to negotiate better deals with suppliers, streamline operations, and optimize resource allocation. Implement cost-saving measures without compromising the quality of your products or services.

Diversify Suppliers

Explore alternative suppliers and sources for materials or inputs. This can help you mitigate the risk of supply chain disruptions and price fluctuations caused by inflation. Having multiple suppliers can provide flexibility and negotiation power, enabling you to secure better pricing terms.

Improve Inventory Management

Efficient inventory management is crucial during inflationary periods. Analyze your sales patterns, customer demand, and lead times to optimize your inventory levels. Avoid overstocking or understocking, as both can lead to financial losses. Consider adopting just-in-time inventory systems or implementing inventory management software to improve accuracy and responsiveness.

Enhance Customer Value

Focus on delivering exceptional value to your customers to retain their loyalty and justify your pricing. Identify ways to differentiate your products or services, such as improving quality, offering unique features, or providing outstanding customer service. Build strong relationships with your customer base and communicate the value proposition effectively.

Explore Alternative Financing Options

If inflation increases borrowing costs, explore alternative financing options. Seek out financial institutions or lenders offering competitive rates or consider alternative financing methods like crowdfunding or peer-to-peer lending. Maintaining a good credit history and financial records increases your chances of securing favorable financing terms.

Enhance Operational Efficiency

Continuously seek opportunities to improve your operational efficiency. This can include automating processes, investing in technology, cross-training employees, or optimizing workflows. By reducing waste and increasing productivity, you can mitigate the impact of rising inflation-related costs.

Stay Informed

Stay aware of economic trends, inflation rates, and market conditions. Regularly monitor industry news, economic indicators, and government policies that may impact your business. Stay connected with professional networks and business associations to gain insights and access resources that can help you navigate inflationary environments.

Conclusion

While inflation continues to pose significant challenges, the recent economic data on inflation brings a ray of hope for small business owners. As small business owners, staying adaptable, proactive, and open to embracing new strategies and technologies that can drive resilience and sustainability is important.

If you’re a small business owner concerned about navigating the challenges of inflation, reach out to Brenden Kelley Law . Our experienced team of attorneys will provide the legal guidance and support you need. From reviewing contracts and leases to advising on pricing strategies and cost management, we have the expertise to help safeguard your business against the impacts of inflation. Don’t let uncertainty hold you back. Contact us today, and let us help you secure a brighter future for your small business.

Challenges Small Business Owners Face in Acquiring Loans

Mon, 09 Jun 2025 22:00:12 GMT

Small businesses play a vital role in driving economic growth and innovation. They are the backbone of local communities, providing employment opportunities and catering to the diverse needs of consumers. However, amidst the challenges and uncertainties of the modern financial world, accessing the necessary capital to start, expand, or sustain a small business has become increasingly difficult.

In addition, traditional lending institutions, such as banks, have tightened their lending criteria, imposing stricter requirements and scrutinizing applications more closely. According to Reuters , as of June 2023, the approval rate of small business loans was only 18.8% from small banks and 13.4% from large banks. But why are banks not willing to lend money to small businesses? This article will shed light on why it is getting harder for small businesses to secure loans from banks and the steps small business owners can take to secure financing.

Why Is It Getting Harder for Small Businesses to Secure Loans?

Securing small business loans has become more challenging due to several reasons:

Stricter Lending Criteria: Traditional lending institutions like banks have tightened their lending criteria. This is in response to the global financial crisis and subsequent regulatory reforms. They now conduct more thorough assessments of loan applications, focusing on creditworthiness, business stability, and collateral requirements. Also, this increased scrutiny makes it harder for some small businesses to meet the stringent criteria and qualify for loans.
Economic Uncertainty: Uncertain economic conditions make lenders more cautious about extending loans to small businesses. These include market volatility and changing consumer preferences. Additionally, lenders may perceive higher risks in uncertain times, making them more conservative with their lending practices.
Limited Financial History: Small businesses, especially startups, often lack a robust financial history or a track record of profitability. This absence of substantial financial data makes it challenging for lenders to assess the business’s creditworthiness and repayment capacity, thereby reducing the likelihood of loan approval.
Collateral Requirements: Many lenders require collateral to secure small business loans. This can be a significant barrier for businesses without substantial assets. Lack of collateral or insufficient collateral value can also hinder loan approval or result in unfavorable loan terms.

What Can Small Business Owners Do?

It may be increasingly difficult to obtain financing for your small business, but the money is still out there. With the right strategies, small business owners can increase their chances of securing funding.

Strengthen Personal and Business Credit

Maintaining a strong personal and business credit history is crucial. According to a Goldman Sachs Survey, 70% of small business owners confirmed that their personal credit was considered when they applied for a business loan. Moreover, a score above 700 increases one’s chance of securing financing and vice versa. Small business owners should focus on building and maintaining good credit scores. Pay bills on time, reduce outstanding debt, and manage credit responsibly.

Prepare a Solid Business Plan

Creating a comprehensive business plan that outlines the company’s objectives, market analysis, financial projections, and repayment strategies demonstrates professionalism and commitment to lenders. A good business plan typically needs to include a summary of your business, products or services offered, market, and financials.

If you’re unsure of how solid your business plan is, it’s advisable to talk to a business plan expert or a business attorney who will review it and offer feedback on the necessary changes. You also need to be able to explain how you intend to use the money. Demonstrating a grasp of finances and a plan fosters confidence in lenders about our ability to effectively use funds.

Build Relationships With Lenders

Establishing relationships with local lenders or community banks can be beneficial. Engaging in regular communication, attending networking events, and building rapport with lenders can increase the likelihood of loan approval as they gain a better understanding of the business and its potential.

Consider an SBA Loan

An SBA loan is a loan program offered by the US Small Business Administration. The SBA does not directly provide loans to businesses but instead guarantees a portion of the loan amount (usually 85%) issued by approved lenders, such as banks and credit unions. This guarantee reduces the risk for lenders, encouraging them to provide loans to small businesses that may not meet conventional lending requirements. Section 7(A) and 504 are the most popular loan programs because they allow small businesses to borrow up to $5 million.

Explore Alternative Funding Sources

Traditional bank loans are not the only option for small businesses. Exploring alternative financing avenues such as online lenders, angel investors, community development financial institutions (CDFIs), microloans, or government-backed loan programs can offer additional opportunities to secure funding.

You can also consider bad credit loans or short-term loans. Lenders offering bad credit loans do not always consider bad credit when providing financing options. In such instances, they’ll consider cash flow and bank statements to determine eligibility. Short-term loans are usually offered by online lenders and are generally repaid within a year or less.

Optimize Financial Records

Maintaining accurate and up-to-date financial records is essential. Lenders often require detailed financial documentation, including balance sheets, profit and loss statements, and cash flow statements. Every document helps assess your risk level and determine whether loaning you money is a sound decision. Organized and transparent financial records instill confidence in lenders regarding a business’s financial health.

Seek Expert Guidance

Engaging with small business development centers, financial advisors, or industry-specific mentors can provide valuable insights and guidance throughout the loan application process. These experts can help identify suitable financing options and navigate the complexities of securing loans.

Talk to other people who have been through the loan application process and gotten approved. Also, find out what they did to secure financing. Their insight may be able to help you determine aspects of the application you may have missed.

Conclusion

While the process of obtaining small business loans has become more challenging, entrepreneurs can adapt by understanding the reasons behind the increased difficulty and employing strategic approaches. Adapting to the evolving loan landscape and proactively exploring various options will enable entrepreneurs to overcome obstacles and fuel their business growth and success. If you need help starting your business or are looking for invaluable guidance and legal protection as you start your business, look no further than Brenden Kelley Law. Contact us today to schedule a consultation.

Navigating Unfavorable Property Tax Assessments: How to Appeal and Why You Need an Attorney

Mon, 09 Jun 2025 21:58:27 GMT

Improper Property Tax Assessments

As a property owner, you may find yourself facing an unfavorable property tax assessment at some point. This can happen for a variety of reasons, including errors in the appraisal process, changes in the market, or even simple mistakes made by the county assessor. Regardless of the cause, an improper property tax assessment can have a significant impact on your finances and your property ownership experience. In this blog post, we will discuss how improper property tax assessments can impact you, why they occur, and how you can appeal them with the help of a property tax appeals attorney.

The first and most obvious impact of an improper property tax assessment is the financial burden it can place on you. If the assessment values your property higher than its actual worth, you will pay more in property taxes than necessary. Over time, this excess can accumulate, especially without correction of the assessment. Additionally, an incorrect assessment can also affect your ability to refinance your mortgage, sell your property, or even make improvements to your home.

So, why do unfavorable property tax assessments occur?

There are several factors that can contribute to this problem, including errors in the appraisal process, changes in the market, and even simple mistakes made by the county assessor. In some cases, the assessor may not have access to accurate data or may not be familiar with the specific characteristics of your property. In other cases, the assessor may not take into account important factors such as property condition, location, and recent sales data.

Process

If you find yourself facing an unfavorable property tax assessment, it is important to know that you have the right to appeal. The first step in the appeals process is to file a complaint with the County Board of Revision (CBR). You need to act within a certain period, usually in the first half of the year. The complaint must include the property owner’s name, address, and legal description of the property, the current value of the property, and the owner’s opinion of the property’s value.

At the CBR, you will have the opportunity to present evidence and argue that your assessment is incorrect. This can include things like recent sales data for similar properties in the area, property condition, and any other relevant information that would support your case. If the CBR finds that your assessment is incorrect, they will adjust it accordingly. If the County Board of Revision’s (CBR) decision doesn’t satisfy you, you have the right to appeal to the Ohio Board of Tax Appeals. This appeal requires filing within a set period, typically 30 days after the CBR’s decision.

While the appeals process may seem straightforward, it can be complex and time-consuming. This is where a property tax appeals attorney can help. A lawyer with experience handling property tax appeals can guide you through the process, helping to compile and present evidence, and argue your case to ensure your property’s valuation reflects its true market value. They also help with paperwork and deadlines, ensuring your appeal is timely processed.

In addition to challenging property tax valuations , a property tax appeals attorney can also assist property owners with property tax exemptions and abatements, which can provide relief from property taxes for certain groups such as veterans or senior citizens.

Conclusion

In conclusion, improper property tax assessments can have a significant impact on your finances and property ownership experience. If you find yourself facing an unfavorable assessment, it is important to know that you have the right to appeal. With a property tax appeals attorney’s assistance, you can effectively navigate the appeals process, compile and present necessary evidence, and argue for a fair market assessment of your property. Contact Brenden Kelley Law today at 216-644-3359 to discuss your property tax appeal.

Understanding the Impact of the 2022 Limited Liability Company Act: What Companies Need to Know

Mon, 09 Jun 2025 21:57:07 GMT

The Ohio Revised Limited Liability Company Act (ORLLCA) is a set of laws that govern the formation and operation of limited liability companies (LLCs) in the state of Ohio. In 2022, the ORLLCA saw some significant changes that companies operating in Ohio need to be aware of.

First Major Change

One of the key changes to the ORLLCA was the elimination of the requirement for an operating agreement. The previous law required LLCs to create an operating agreement detailing the company’s management structure and the members’ rights and duties. However, under the new law, LLCs no longer need an operating agreement, though having one is still highly recommended.

Second Major Change

Another major change to the ORLLCA was the introduction of the concept of “series LLCs.” A series LLC is a type of LLC that allows a single entity to create separate series or cells of members, each with their own distinct liabilities and assets. This allows for greater flexibility in the management of assets and liabilities within an LLC.

Furthermore, the ORLLCA introduced new provisions for converting LLCs to other business forms and vice versa, along with changes in the dissolution and winding up processes for LLCs.

Importance of the Limited Liability Company Act

It is important for companies operating in Ohio to be aware of these changes to the ORLLCA, and to consult with an attorney to ensure that their LLC is in compliance with the new laws. Although not mandatory, having an Operating Agreement remains highly recommended to prevent disputes and provide clear operational guidelines for companies.

The 2022 ORLLCA updates aimed to simplify the formation and operation of LLCs in Ohio, offering businesses more flexibility in managing their assets and liabilities. However, companies operating in Ohio should still seek professional guidance to ensure that they are in compliance with these new laws, and take steps to adapt their LLCs as necessary.

Conclusion

In Summary, The 2022 Ohio Revised Limited Liability Company Act (ORLLCA) made it easier for companies to form and operate LLCs in Ohio, by eliminating the requirement of an Operating Agreement, as well as providing more flexibility to manage the assets and liabilities by introducing the concept of “series LLCs.” The law also included updates concerning conversion, dissolution, and the winding up of LLCs. Contact Brenden Kelley Law today at 216-644-3359 to ensure that your business is in compliance with the new laws, and adapt your LLCs as necessary.

Navigating Wrongful Termination Laws in Ohio: A Small Business Guide

Mon, 09 Jun 2025 21:55:52 GMT

What is Wrongful Termination?

Wrongful termination is a serious issue that small business owners in Ohio need to be aware of. In general, wrongful termination refers to when an employer terminates an employee’s employment in violation of state or federal law.

In Ohio, wrongful termination can occur in a variety of ways. For example, it can occur when an employer terminates an employee due to their race, gender, age, or disability. It can also occur when an employer terminates an employee in retaliation for reporting discrimination or harassment, or for taking time off for a protected reason (such as pregnancy or military service).

Illegality of Wrongful Termination

One of the most important things that small business owners in Ohio need to know about wrongful termination is that it is illegal. The law prohibits employers from terminating employees for discriminatory reasons and retaliating against employees who report discrimination or harassment.

Taking Legal Action…

Another important thing to know is that employees who have been wrongfully terminated have the right to take legal action against their former employer. This can include filing a complaint with the Equal Employment Opportunity Commission (EEOC) or filing a lawsuit in state or federal court.

How to Avoid Claims

In order to avoid claims, small business owners in Ohio should be aware of the state and federal laws that protect employees from discrimination and retaliation. They should also have policies and procedures in place to address discrimination and harassment, and they should train their managers and supervisors on how to handle these issues.

Additionally, small business owners should have clear and consistent procedures for terminating employees. This can include providing employees with clear performance standards, giving them the opportunity to improve their performance, and documenting any issues that lead to termination.

Another important thing to know is that small business owners can be held liable for the wrongful termination of an employee if they are found to be responsible for it. This can include both financial damages (such as lost wages and benefits) and non-financial damages (such as emotional distress).

Final thoughts…

In conclusion, wrongful termination is a serious issue that small business owners in Ohio need to be aware of. To avoid claims, they should be familiar with state and federal laws that protect employees from discrimination and retaliation, they should have policies and procedures in place to address discrimination and harassment, they should train their managers and supervisors on how to handle these issues, and they should have clear and consistent procedures for terminating employees. Contact the team at Brenden Kelly Law to learn more about how to protect your business from wrongful termination lawsuits.

Time to Call a Lawyer? Legal Tips for Cleveland’s Entrepreneurs

Mon, 09 Jun 2025 21:54:32 GMT

As a small business owner in Cleveland, Ohio, you will encounter several legal situations out of your depth. Luckily, you can elicit the advice and services of a lawyer before the situation gets out of hand. Seeking professional help in the nick of time turns stressful and overwhelming legal issues into salvageable problems. This article highlights three instances when you should call a lawyer.

1. Employee Issues

Several legal issues can arise as your business grows and you begin to hire employees. These may include discrimination or harassment claims, wage and hour disputes, and wrongful termination lawsuits.

Additionally, a knowledgeable attorney can help you navigate these legal challenges and ensure your business complies with state and federal employment laws. They can also help you draft employment contracts, develop employee handbooks, and advise you on best practices for managing your workforce.

2. Contract Disputes

Contracts are essential to running a business, and disputes may arise when one party doesn’t uphold their end of the agreement. These disputes may involve clients, vendors, or other business partners.

In these situations, having a skilled attorney by your side is important to help you navigate the legal complexities therein. They can help you know your legal rights and obligations, negotiate a resolution, or represent you in court if necessary.

3. Intellectual Property Issues

Protecting your intellectual property is essential to the success of your business. Whether it’s trademarks, patents, or copyrights, intellectual property is a valuable asset that differentiates your brand from rival businesses.

An experienced attorney can help you register your trademarks and patents, draft licensing agreements, and represent you in court if your intellectual property rights are infringed upon.

As a small business owner, legal issues are a reality that you may have to face at some point. Knowing when to call a lawyer and how to choose the right one in Cleveland, Ohio, can help protect your business and navigate these challenges with confidence. Contact the team at Brenden Kelley Law today to help protect you and your business. Call us at 216-644-3359.

How to Negotiate Like a Pro: Essential Tips for Small Business Owners

Mon, 09 Jun 2025 21:52:57 GMT

For small business owners, negotiation is essential. Whether you’re negotiating with suppliers, customers, or employees, being able to negotiate effectively can save you time, money, and headaches.

But negotiation can be tricky. It’s easy to get caught up in the moment and make a decision that you’ll regret later. That’s why having a plan and knowing what you’re doing is important.

The Art of Negotiation: Why It Matters for Small Businesses

If you’re a small business owner , developing your negotiation skills is important. By following the tips listed below, small business owners can improve their negotiation skills and get the best possible outcome for their business.

First here are some of the reasons why negotiation is so important for small businesses :

It can help you get a better deal. Whether you’re negotiating with suppliers, customers, or employees, being able to negotiate effectively can help you get a better deal. This could also mean getting a lower price on supplies, a higher price for your products or services, or better terms for your employees.
It can help you build relationships. Negotiation is all about building relationships. When you negotiate effectively, you’re showing the other party that you’re respectful, trustworthy, and fair. This can lead to better relationships, which can be beneficial for your business in the long run.
It can help you avoid conflict. When you negotiate effectively, you’re more likely to reach an agreement that works for everyone involved. This can also help you avoid conflict, which can save you time, money, and stress.

Here are some additional tips for small business owners who want to improve their negotiation skills:

Be prepared. Do your research and know what you’re willing to negotiate on.
Be flexible. Don’t be afraid to compromise.
Be respectful. Even if you don’t agree with the other party, be respectful of their position.
Be patient. Negotiation takes time. Don’t expect to get everything you want right away.
Follow up. Once you’ve reached an agreement, be sure to follow up and make sure that it’s being implemented.

Preparing for Success: Research and Planning

Success doesn’t happen overnight. It takes hard work, dedication, and a little bit of luck. But one of the most important things you can do to increase your chances of success is to prepare. And one of the best ways to prepare is to research and plan.

Research

The first step to preparing for success is to research your chosen field. Learn as much as you can about the industry, the competition, and the latest trends. The more you know, the better equipped you’ll be to make informed decisions and take advantage of opportunities.

In addition, there are many different ways to research your field. You can read books and articles, attend industry events, and network with professionals. The more sources you use, the more well-rounded your understanding will be.

Planning

Once you’ve done your research, it’s time to start planning. This means setting goals, developing strategies, and creating a timeline. Your plan should be specific, measurable, achievable, relevant, and time-bound.

It’s also important to be flexible with your plan. Things don’t always go according to plan, so you need to be prepared to adjust your course as needed.

Effective Communication: Listening, Assertiveness, and Persuasion

Communication is one of the most important skills small business owners can have. It’s how we share our thoughts, feelings, and ideas with others. It’s how we build relationships, solve problems, and achieve our goals.

There are three key elements to effective communication: listening, assertiveness, and persuasion.

Listening

Listening is often the most overlooked part of communication. But it’s essential if we want to truly understand what others are saying. When we listen, we’re not just hearing the words that are being spoken. We’re also paying attention to the speaker’s body language, tone of voice, and facial expressions. This helps us to understand the speaker’s meaning and intent.

There are a few things small business owners can do to improve their listening skills:

Make eye contact. This shows the speaker that we’re paying attention.
Avoid distractions. Turn off your phone, close your laptop, and focus on the speaker.
Ask questions. This shows the speaker that we’re interested in what they have to say.
Summarize what you’ve heard. This helps to ensure that you’ve understood the speaker correctly.

Assertiveness

Assertiveness is the ability to communicate our thoughts, feelings, and needs in a direct, honest, and respectful way. It’s about standing up for ourselves without being aggressive or passive.

There are a few things small business owners can do to improve their assertiveness skills:

Be clear and direct. Don’t beat around the bush. Say what you mean clearly and concisely.
Be respectful. Even if you disagree with someone, you can still be respectful of their opinion.
Be assertive, not aggressive. There’s a difference between being assertive and being aggressive. Assertiveness is about standing up for yourself, while aggression is about putting others down.
Be willing to compromise. Sometimes, it’s not possible to get everything we want. In these cases, it’s important to be willing to compromise.

Persuasion

Persuasion is the ability to influence others to think or act in a certain way. It’s about getting people to see things our way.

There are a few things small business owners can do to improve their persuasion skills:

Be clear about our goals. What do we want to achieve? Once we know our goals, we can start to develop a strategy to achieve them.
Understand our audience. What are their needs and interests? What motivates them? The better we understand our audience, the more likely we are to persuade them.
Build rapport. People are more likely to be persuaded by someone they like and trust. So, it’s important to build rapport with our audience.
Use logic and evidence. People are more likely to be persuaded by arguments that are based on logic and evidence.
Be persuasive, not pushy. There’s a difference between being persuasive and being pushy. Persuasion is about getting people to see things our way while pushing is about forcing people to do what they want.

By developing our listening, assertiveness, and persuasion skills, we can improve our communication skills and achieve our goals.

Overcoming Obstacles: Handling Difficult Negotiation Situations

Negotiation is a complex process that requires a variety of skills and strategies. It can be challenging, even for experienced negotiators, to handle difficult negotiation situations. However, there are several things that small business owners can do to increase their chances of success.

Here are some tips for overcoming obstacles in negotiation:

Be Prepared

The more prepared you are, the more confident you will be in the negotiation. Do your research, know your BATNA (best alternative to a negotiated agreement), and be clear on your goals.

Stay Calm

It’s easy to get emotional in a negotiation, but it’s important to stay calm and collected. If you get angry or upset, it will only make the situation worse.

Be Respectful

Even if you don’t agree with the other party, it’s important to be respectful of them. Remember, you’re trying to reach an agreement, not win a battle.

Be Patient

Negotiation takes time. Don’t expect to reach an agreement right away. Be patient and persistent, and you’ll eventually reach an agreement that works for everyone.

Take a Break

If you’re feeling overwhelmed or frustrated, take a break from the negotiation. This will give you a chance to clear your head and come back to the negotiation with a fresh perspective.

Walk Away

If you’re not getting what you want and the negotiation is going nowhere, it’s okay to walk away. There’s no point in wasting your time on a negotiation that’s not going to be productive.

Get Help

If you’re struggling to handle a difficult negotiation situation, don’t be afraid to get help from a mediator or other professional. They can help you to navigate the negotiation process and reach a successful outcome.

Closing the Deal: Finalizing Agreements and Building Lasting Relationships

It can be challenging, even for experienced negotiators, to close the deal and finalize an agreement. However, there are several things that you can do to increase your chances of success.

Here are some tips for closing the deal:

Be Prepared

The more prepared you are, the more confident you will be in the negotiation. Do your research, know your BATNA (best alternative to a negotiated agreement), and be clear on your goals.

Build Rapport

People are more likely to do business with people they like and trust. So, it’s important to build rapport with the other party. This can also be done by being friendly, respectful, and genuine.

Create a Sense of Urgency

If the other party feels like they’re losing out on a good opportunity, they’re more likely to make a deal. This can be done by creating a sense of urgency, such as by telling them that the offer is only good for a limited time.

Be Flexible

Don’t be afraid to compromise. Negotiation is all about finding a middle ground that works for both parties.

Be Patient

Negotiation takes time. Don’t expect to reach an agreement right away. Be patient and persistent, and you’ll eventually reach an agreement that works for everyone.

Summarize the Agreement

Once you’ve reached an agreement, it’s important to summarize it in writing. This will help to ensure that everyone is on the same page and that there are no misunderstandings.

Get Everything in Writing

Once you’ve summarized the agreement, it’s important to get everything in writing. This will create a legally binding contract that will protect both parties.

Follow Up

Once you’ve reached an agreement, it’s important to follow up with the other party. This will help to ensure that the agreement is implemented as agreed.

In addition to the above tips, it is also important to build lasting relationships with the people you negotiate with. This can be done by being honest, transparent, and respectful throughout the negotiation process. By building relationships, you can increase the chances of future success in negotiations.

If you need help with the negotiation process or want more information, please call Brenden Kelley Law at 216-644-3359 so that we can assist you.

Navigating Business Law: Legal Advice for New Entrepreneurs

Mon, 09 Jun 2025 21:49:40 GMT

Being a small business owner comes with a myriad of legal responsibilities. Protecting both your business and personal assets is crucial. Below, discover five key legal tips every new entrepreneur should consider :

1. Choosing Your Business Structure Wisely

The foundation of your business’s legal and financial health lies in its structure. Options vary from sole proprietorships to corporations. Each carries unique benefits and challenges. Consulting a lawyer helps you select the structure that aligns with your goals, optimizing both legal protection and financial benefits.

2. Navigating Legal Obligations

As an entrepreneur, you’ll face numerous legal requirements, including labor laws, tax compliance, and regulatory obligations. A legal expert can demystify these responsibilities, ensuring your business operates within the law.

3. Safeguarding Intellectual Property

Your business’s intellectual assets, like trademarks and patents, are invaluable. Legal counsel can guide you in protecting, registering, and legally recognizing these assets, securing your business’s innovations.

4. Crafting Solid Contracts

Contracts are the backbone of business transactions. A lawyer’s review guarantees your contracts are not only enforceable but clear in their terms. This scrutiny can prevent disputes and provide clarity in negotiations.

5. Preparing an Exit Strategy

Investing in a small business demands an exit plan for unforeseen circumstances. Legal advice can prepare you for a smooth transition, whether it involves selling the business or winding down, safeguarding your investments.

Final Insights

Being a small business owner is both exciting and challenging. With informed legal strategies, you can shield your enterprise and personal assets from potential pitfalls. These five tips lay the groundwork for a legally sound business. Considering entrepreneurship? Seek legal guidance to navigate the complexities of business law successfully. For tailored advice, connect with Brenden Kelley Law at 216-644-3359.

From Creation to Protection: Mastering Intellectual Property for Business Growth

Mon, 09 Jun 2025 21:47:50 GMT

Empowering Your Business Edge with Intellectual Property Rights

In today’s fiercely competitive global market, the unique inventions, designs, and creations your business brings to the table are key to standing out. Actively using your intellectual property (IP) rights helps your business not just survive but lead the industry. This guide simplifies the complex world of intellectual property protections and highlights their importance.

Understanding Intellectual Property: The Basics

Intellectual property is crucial for safeguarding your original ideas and creations. This includes everything from innovative products and artistic works to the symbols and names that define your brand. The law offers creators financial benefits, recognition, and control over their inventions’ use.

Trademarks: Fortifying Your Brand Identity

Trademarks protect your brand’s unique features, like your company’s name and logo, from being copied. You must register trademarks through the United States Patent and Trademark Office (USPTO). This process ensures your brand remains unique everywhere you seek protection.

Copyright: Protecting Your Creative Works

Patents grant inventors the sole right to make and sell their invention. Issued by the USPTO, patents typically last 20 years. They cover utility patents for functional inventions, design patents for aesthetic aspects, and plant patents for new botanical varieties.

Patents: Guarding Your Innovations

A patent bestows an inventor with the exclusive rights to manufacture and sell an invention, effectively controlling its usage in the market. The USPTO issues patents, which are typically valid for 20 years, covering utility patents for functional inventions, design patents for aesthetic creations, and plant patents for novel botanical discoveries.

Navigating the IP Registration Labyrinth

Securing IP rights can be complex. A skilled business lawyer can make this process smoother. They ensure your intellectual property gets the protection it needs, both in the U.S. and internationally.

For more advice on protecting your business’s intellectual assets, reach out to Brenden Kelley Law at 216-644-3359.

Brenden Kelley Shines Again: A 2023 Super Lawyers Rising Star

Mon, 09 Jun 2025 21:45:55 GMT

For the second consecutive year, Brenden Kelley has earned the prestigious title of Rising Star by Super Lawyers magazine, a testament to his unwavering commitment and legal acumen.

Super Lawyers Selection Process Unveiled

Super Lawyers rigorously evaluates candidates across multiple professional dimensions. This evaluation includes peer recognition, achievements, and contributions to the legal community. Leadership roles, scholarly writings, and community service are crucial. Brenden stands out for his exceptional contributions and achievements, embodying the qualities Super Lawyers values in Rising Stars.

Defining a Rising Star

Rising Stars are exceptional attorneys under 40 or in their first ten years of practice, showing great potential for excellence. Brenden Kelley ranks among this elite group, recognized for his skill and commitment to the legal field.

Brenden Kelley: A Profile of Excellence

Brenden’s path to becoming a Rising Star includes notable achievements and peer recognition. His commitment to community service and a client-focused approach highlight a career devoted not just to legal victories but to making a real difference.

A Continued Legacy of Legal Leadership

Finally, this award confirms Brenden Kelley’s role as a leader among new-generation lawyers. As we celebrate his success, Kelley continues striving for excellence in legal practice and making meaningful community contributions.

Unlock the Secrets to Lowering Your Cuyahoga County Property Taxes

Fri, 06 Jun 2025 04:26:29 GMT

Understanding Your Property Tax Assessment

In Cuyahoga County, property tax assessments play a crucial role in determining your property taxes. These assessments mirror your property’s value. If you find this valuation inaccurate or unjust, the Board of Revision provides a path for adjustment, aiming to align your property taxes more closely with its true value.

Actively Engaging with the Board of Revision

The Board of Revision critically reviews homeowner disputes regarding property valuations to ensure everyone receives a fair assessment. Beginning this challenge might seem overwhelming, but a clear understanding of the process can empower you as a homeowner to seek a just evaluation.

Strategic Steps to Challenge Your Cuyahoga County Property Taxes

Preparation is Key : Compile evidence that questions your property’s current valuation. This could include recent sales figures for similar properties, professional appraisals, or records of your property’s specific conditions.
Efficient Filing : E-filing is the most streamlined method for lodging your complaint, removing the need for notarization and saving time. Necessary details include a valid email address and phone number. You will receive an immediate confirmation email with a PDF of your filed complaint. For alternative filing options, submitting your complaint via mail, email, or fax is possible. Ensure to fill out, notarize, and submit a DTE 1 form through your preferred method.
Observing the Deadline : The importance of timeliness cannot be overstated. Your complaint must be filed by 11:59 PM EST on March 31, 2023. For those submitting by mail, ensure the postmark is no later than March 31 to meet the timeliness criteria.

The Next Steps After Filing

Following your submission, you might be invited to a hearing to present your evidence before the Board. This is your chance to argue for a revised assessment directly. A well-prepared presentation of your evidence is crucial to achieving a favorable outcome.

Conclusion

Initiating a challenge against your property tax assessment with the Board of Revision can result in a more equitable valuation of your property, potentially lowering your tax liabilities . This process demands meticulous preparation and strict adherence to deadlines but stands as a critical avenue for ensuring equitable taxation. For expert assistance throughout this process, Brenden Kelley Law is ready to help. Contact us at 216-644-3359 for a consultation.

Brenden Kelley Named 2022 Litigation Lawyer of the Year

Fri, 06 Jun 2025 04:25:11 GMT

A Celebrated Achievement

We’re excited to announce Brenden Kelley’s recognition as the 2022 Litigation Lawyer of the Year by the Lawyer Monthly Legal Awards. This award distinguishes legal professionals for their unparalleled dedication and contributions.

Recognizing Excellence in Law

The 2022 awards have shone a light on a diverse group of legal talents, reflecting a broad spectrum of expertise and dedication across the profession. The selection process for the awards is comprehensive, evaluating professional achievements, client feedback, and contributions to legal practice areas.

In response to the announcement, Brenden expressed his gratitude: “I am deeply honored to receive this recognition. It is a testament to the collective effort of our team and the trust our clients place in us. I share this award with everyone who has supported and worked alongside me.”

Awards Criteria: A Rigorous Evaluation

The Lawyer Monthly Legal Awards set high standards for their selection process, focusing on legal expertise, client service, and innovation in the field. Visit Lawyer Monthly if you would like more detailed information on how awards are determined.

A Firm-Wide Celebration

Finally, this honor signifies our firm’s dedication to excellence and teamwork in tackling complex legal challenges. “This accolade motivates us to continue our pursuit of excellence and to maintain the high standards we’ve set,” Brenden notes, expressing gratitude towards Lawyer Monthly, colleagues, and clients for their support.

Tax Deadlines Business Owners Need to Know for 2023

Fri, 06 Jun 2025 04:24:00 GMT

As a business owner, staying on top of your tax obligations is crucial to avoid costly penalties and ensure compliance with federal and state tax laws. With different filing deadlines for various business structures and types, it’s important to know when your tax returns and estimated tax payments are due. Here are the key tax calendar dates to watch for in 2023.

1) Jan. 31, 2023: Provide Tax Forms to Employees and Contractors

As an employer, you must provide tax forms to any employees or independent contractors you hired the previous year. This includes W-2 forms for employees and 1099-NEC or 1099-MISC forms for independent contractors. The deadline for providing these forms to recipients is January 31, 2023.

2) March 15, 2023: Business Tax Returns for Partnerships, S Corporations, and LLCs

Another important date if your business is a partnership, S corporation, or LLC taxed as a partnership is March 15, 2023. You must file your tax return by March 15, 2023, if you follow the calendar year. However, if your business’s tax year doesn’t start on January 1, you’ll need to follow the IRS fiscal year due date. This is also the deadline to file Form 2553 to elect S corporation status for tax year 2023.

3) April 18, 2023: Tax Returns for C Corporations, Sole Proprietorships, and Individuals

This is the deadline for C corporations, sole proprietorships, single-member LLCs or LLCs taxed as corporations, and individuals to file their tax returns. Additionally, this is the last day to make 2022 contributions to traditional and Roth IRAs.

4) Oct. 16, 2023: Extended Individual Tax Return Deadline

If you received a filing extension on your 2022 income tax return, your extended individual return is due on this date.

5) 2023 Quarterly Estimated Tax Payment Deadlines

If you’re self-employed or receive any form of income that requires you to pay estimated taxes, here are the estimated tax due dates for 2022:

April 15, 2023 – Deadline for 2022 Q1 estimated tax payments
June 15, 2023 – Deadline for 2022 Q2 estimated tax payments
Sept. 15, 2023 – Deadline for 2022 Q3 estimated tax payments
Jan. 15, 2024 – Deadline for 2022 Q4 estimated tax payments

Note that if any of the above dates fall on a weekend or federal holiday, the payment deadline falls on the next business day instead.

How to File a Tax Extension as a Business Owner

If you need more time to file your taxes, you can apply for a tax-filing extension. This extension will give you an extra six months to file your return. However, a tax extension only extends your filing deadline, meaning you still need to pay any estimated tax payments on your business’s tax deadline. Here’s how to file a tax extension for your business:

Sole proprietors can request a tax extension using IRS Form 4868.
Partnerships, S corporations, and C corporations can request an extension using IRS Form 7004.

Make sure to pay your estimated taxes on time to avoid any late fees!

In conclusion, staying on top of tax deadlines is essential for business owners. By keeping track of these key dates, you can avoid penalties and ensure your business stays in compliance with federal and state tax laws. If you have any questions or concerns about filing your taxes, don’t hesitate to consult with a tax professional or legal expert. Please call Brenden Kelley Law at 216-644-3359 so that we can assist you.

Geauga County Property Owners: How to Fight Your Tax Assessment

Fri, 06 Jun 2025 04:22:09 GMT

Tax assessments determine how much you pay in property taxes in Geauga County. If you believe your tax assessment doesn’t reflect your property’s true value, it’s crucial to know how to challenge this assessment effectively.

How to File a Complaint

Filing a Complaint: The First Step in Challenging Your Tax Assessment

If you think your property’s tax assessment is too high, you can file a complaint with the Geauga County Board of Revision. This board reviews disputes about property tax assessments, ensuring fairness and accuracy.

Important Deadlines for Tax Assessment Challenges

Don’t miss the March 31 deadline to submit your complaint for the current tax year. A timely submission is your first step toward potentially reducing your property taxes.

Eligibility for Filing a Complaint

Owners of taxable property in Geauga County, along with county and municipal authorities, have the right to challenge tax assessments. Understanding who can file is essential for a successful appeal.

Preparing for Your Board of Revision Hearing

Supporting Documentation: Strengthening Your Case

Gathering evidence such as recent appraisals or comparative property values is crucial. This documentation supports your claim that your property’s assessed value is incorrect.

The Hearing: Presenting Your Case

Attend the hearing prepared to discuss your evidence. This is your opportunity to directly influence the outcome of your tax assessment challenge.

Why Challenging Your Tax Assessment Matters

Challenging your property’s tax assessment can lead to significant savings on your property taxes. It’s a critical step for ensuring you’re not overpaying due to an inaccurate valuation.

Understanding the Board of Revision’s complaint process is crucial for Geauga County property owners. Knowing the deadlines and what documents to prepare can help ensure your challenge is heard and that your assessment is fair. For guidance through this process, contact Brenden Kelley Law at 216-644-3359 for support.

Essential Guide to Starting a Successful Business in Ohio

Fri, 06 Jun 2025 04:20:08 GMT

Starting a business in Ohio can be a rewarding and exciting venture, but it can also be overwhelming and challenging. There are many steps to take and decisions to make, and it’s important to be well-informed and prepared in order to set your business up for success.

Here are 7 steps to consider as you begin starting a business in Ohio:

Choose a business structure :

One of the first decisions you’ll need to make is what type of business structure you want to have. The most common options in Ohio are sole proprietorship, partnership, limited liability company (LLC), and corporation. Each has its own advantages and disadvantages, so it’s important to consider your needs and goals before making a decision.

Obtain any necessary licenses and permits :

Depending on the type of business you are starting, you may need to obtain various licenses and permits in order to operate legally in Ohio . This can include things like a sales tax permit, food service permit, or liquor license. It’s important to research what licenses and permits are required for your specific business and to obtain them before starting operations.

Create a business plan :

A business plan is a detailed document that outlines your goals, strategies, and financial projections for your business. It helps you identify your target market, define your competitive advantage, and set measurable objectives. A business plan is an essential tool for any small business, as it helps you stay organized and focused on your long-term goals.

Secure financing :

Most small businesses require some form of financing to get off the ground. This can include loans, grants, or investments from friends and family. It’s important to research your financing options and create a financial plan that outlines how you will use the funds to grow your business.

Choose a location :

The location of your business is an important consideration , as it can impact things like foot traffic, rent, and access to customers. It’s important to research different locations and consider factors like parking, foot traffic, and proximity to your target market.

Set up your business :

Once you have chosen a business structure and secured financing, it’s time to set up your business. This can include things like choosing a business name, creating a logo, setting up a website, and purchasing any necessary equipment or supplies.

Market your business :

Marketing is an important aspect of running a small business, as it helps you attract and retain customers. There are many ways to market a small business, including social media, email marketing, and local advertising. It’s important to find marketing strategies that work for your specific business and to consistently promote your products or services.

Careful planning and preparation.

Starting a small business in Ohio requires careful planning and preparation, but with hard work and dedication, it can be a rewarding and fulfilling experience. It’s important to stay organized and focused on your goals, and to seek out resources and support as needed. With the right approach, you can successfully launch and grow your small business in Ohio. Please call Brenden Kelley Law at 216-644-3359 so that we can assist you starting your small business.

Choosing the Best Corporation in Ohio: S-Corp or C-Corp?

Fri, 06 Jun 2025 04:18:47 GMT

Choosing the best corporation type is a pivotal decision for Ohio small businesses . Understanding the differences between S-Corporations and C-Corporations is crucial for making an informed choice. Both types of corporations provide limited liability protection to their shareholders, which means that shareholders are not personally liable for the company’s debts and liabilities. However, there are some key differences between the two types of corporations that can have a significant impact on how the business is taxed and operated.

Best Corporation Choice in Ohio: C-Corp vs. S-Corp Differences.

Understanding Taxation

One of the primary differences between S-Corps and C-Corps is their tax treatment. C-Corps face taxation as separate entities, which can lead to double taxation – first at the corporate level on profits, and then at the individual level on dividends. In contrast, S-Corps benefit from pass-through taxation, where profits are taxed only at the individual level, avoiding the corporate tax.

This pass-through taxation can be a significant advantage for S-corporations, as it can help to avoid the “double taxation” that can occur with C-corporations. For example, if a C-corporation earns $100,000 in profits, it would be taxed at the corporate level, leaving $70,000 after corporate taxes. If the company then distributes the remaining $70,000 to its shareholders as dividends, the shareholders would then have to pay personal income tax on those dividends. With an S-corporation, the $100,000 in profits would be passed through to the shareholders and taxed at the individual level, avoiding the additional corporate tax.

Shareholder Considerations: Numbers and Types

Another crucial difference lies in shareholder restrictions. S-Corps are limited to 100 shareholders, all of whom must be U.S. citizens or residents. C-Corps have no restrictions on the number or type of shareholders, providing greater flexibility for growth and investment opportunities. For example, S-corporations cannot have non-resident alien shareholders, and they cannot have more than one class of stock. This can limit the flexibility of the business in terms of raising capital and issuing stock options.

Management Structure and Profit Distribution

In terms of management, C-Corps can form a board of directors and have more complex governance structures, while S-Corps are more straightforward. S-Corps also offer greater flexibility in profit distribution among shareholders, unlike C-Corps, which are required to distribute profits based on the number of shares each shareholder owns.

Complexity and Suitability for Different Business Sizes

Small to medium-sized businesses often find S-Corps more suitable due to their pass-through taxation. However, they require more effort in setup and ongoing compliance. Larger businesses, on the other hand, prefer C-Corps due to their ability to issue different types of stocks and attract various investors, despite the double taxation drawback.

Decide Wisely: The Best Corporation for Your Ohio Business.

The decision between an S-Corp and a C-Corp depends on various factors, including the size of your business, your growth ambitions, and your tax considerations . It’s important to weigh the pros and cons of each and consider how they align with your business objectives. Selecting the best corporation structure – S-Corp or C-Corp – is a significant decision for Ohio small businesses. Each option has distinct features that can impact the business’s taxation, management, and growth potential. For personalized guidance on choosing the right corporation type for your business, contact Brenden Kelley Law at 216-644-3359.

5 Important contracts to know when starting a Small Business

ana.santiago@affinipay.com (Ana Santiago) — Fri, 06 Jun 2025 04:17:10 GMT

As you embark on the exciting journey of starting a small business in Ohio, understanding important contracts is crucial. These legal agreements not only safeguard your interests but also ensure smooth and efficient business operations, thus playing a pivotal role in the success of your enterprise.

Five common types of contracts that small business owner need to know:

1. Understanding Employment Contracts

When hiring employees, employment contracts are indispensable. They clearly outline salary, benefits, job duties, and other key terms. Furthermore, these documents set clear expectations, reducing potential misunderstandings and disputes. Importantly, employment contracts can include provisions for confidentiality and non-compete clauses, which are vital for protecting your business interests.

2. Lease Agreements for Your Business Space.

Similarly, lease agreements are critical when renting space for your business. These agreements detail the terms of your tenancy, including lease duration, rent, and other conditions. Moreover, a well-structured lease agreement can provide stability for your business and prevent future rental disputes. It’s essential to review these documents thoroughly to ensure they align with your business’s long-term goals.

3. Service Contracts with Customers.

Additionally, service contracts are key when you offer services to customers. These documents outline the scope of services, payment terms, and warranties or guarantees. By setting clear expectations, service contracts help in preventing disputes and ensuring customer satisfaction. They also protect your business by defining the terms of service delivery and payment.

4. Supply Contracts for Goods and Materials.

Supply contracts are equally important for business operations. They specify the terms of transactions with suppliers, including quantities, prices, and delivery terms. These contracts help ensure that you receive the goods and materials you need for your business in a timely and cost-effective manner. They also provide legal recourse in case of non-delivery or substandard goods.

5. Protecting Sensitive Information with NDAs.

Lastly, non-disclosure agreements (NDAs) are vital in protecting confidential business information. They safeguard trade secrets, business strategies, and other sensitive data from being disclosed inappropriately. NDAs are essential when sharing information with potential partners, employees, or contractors, thus ensuring that your business retains its competitive edge.

Final Thoughts: Ensuring Legal Protection for Your Business Venture.

It’s important to carefully review any contract or agreement to ensure it aligns with your business needs and adequately protects your interests. If you have questions or concerns about a contract, seeking legal advice is always a good idea. For assistance, contact Brenden Kelley Law at 216-644-3359.

Understanding Ohio’s Trust Landscape: A Look at 6 Popular Types

Fri, 06 Jun 2025 04:13:19 GMT

Trusts in Ohio offer versatile solutions for estate management, tax benefits, and unique family needs. Understanding different trusts aids in informed estate planning .

Revocable Trusts: Flexibility and Confidentiality

Revocable, or living, trusts offer amendable terms during the trustor’s life. Their privacy is a major advantage, as they typically stay confidential, unlike publicly probated wills.

Irrevocable Trusts: Asset Safeguarding and Tax Efficiency

Irrevocable trusts, once established, are unchangeable. They help transfer assets, reducing taxes and safeguarding them from creditors. For example, a trust can transfer a family home to heirs, cutting estate taxes and protecting it from debts.

Testamentary Trusts: Controlled Inheritance Management

Testamentary trusts, created in wills, activate post-death. They’re ideal for managing inheritances for minors or individuals unable to manage finances themselves, ensuring a protected, regulated distribution.

Charitable Trusts: Philanthropy with Fiscal Advantages

Charitable trusts benefit charities and offer tax perks. There are two kinds, Remainder Trusts and Lead Trusts. Remainder Trusts provide income to donors before leaving the rest to charity, whereas Charitable Lead Trusts prioritize charities.

Support Trusts for Individuals with Disabilities: Essential Aid Preservation

These trusts offer financial aid to beneficiaries with disabilities, preserving their eligibility for government programs like Medicaid. This ensures vital support without losing key services.

Spendthrift Trusts: Safeguarding Against Debts and Mismanagement

Spendthrift trusts protect beneficiaries from creditors and their own potential mismanagement. They can distribute assets over time or based on specific criteria, ensuring lasting financial safety.

Conclusion: Value of Expert Advice

Choosing a suitable trust demands thorough consideration of personal circumstances. Expert advice is key in navigating these options and achieving estate planning goals. For tailored advice on trust selection, contact Brenden Kelley Law at 216-644-3359.

Empower Your Future: A Guide to Estate Planning

Fri, 06 Jun 2025 04:11:50 GMT

Estate planning plays a crucial role in financial management, especially in Ohio. State laws significantly influence asset distribution in the absence of a valid plan. Without proper planning , your asset distribution wishes might not be realized, potentially complicating matters for your loved ones.

Your Assets, Your Control: Customizing Asset Management

The main advantage of estate planning is the control it gives you over your assets after passing away. This is especially important if you have specific wishes or need to ensure your loved ones’ financial security. Without a detailed plan, Ohio’s intestacy laws could distribute your assets contrary to your wishes.

Power of Attorney: Ensuring Your Decisions Matter

Adding a power of attorney to your estate plan lets a trusted individual make crucial financial and health decisions if you’re unable to. This step is essential for maintaining your independence, especially during unexpected health issues.

Promoting Family Harmony

A well-structured estate plan can prevent family disputes. Clearly outlining your wishes helps avoid misunderstandings, ensuring your estate is managed and distributed as you intended.

Estate Planning Tools: Custom Solutions for Your Needs

Ohio offers various tools for effective estate planning , such as wills, trusts, power of attorney documents, and healthcare directives. Consulting an experienced attorney is key to finding the best strategies for your unique circumstances.

Peace of Mind: The Ultimate Goal

Above all, estate planning provides peace of mind. Knowing your assets and family are secure is reassuring. It’s not just about distributing assets; it’s about honoring your legacy and caring for your family according to your wishes.

FAQs

What if I don’t have an estate plan in Ohio? Without an estate plan, Ohio’s intestacy laws dictate asset distribution. This may not reflect your wishes and can complicate matters for your heirs. It’s crucial to have an estate plan for desired asset distribution.
How do I choose the right estate planning tools for my situation? The right tools depend on your assets, family dynamics, and wishes. Common tools include wills, trusts, and healthcare directives. An experienced estate planning attorney can guide you in selecting the best options.
Can I update my estate plan if my circumstances change? Yes, updating your estate plan is advisable when life changes occur. Changes in finances, family status, or health are a few reasons for updates. Regular reviews with your attorney ensure your plan reflects your current wishes.

5 Reasons A Lawyer Can Help Start Your Business

Fri, 06 Jun 2025 04:08:55 GMT

Deciding to start your business is a pivotal and thrilling moment for any entrepreneur. It marks the beginning of a new chapter filled with opportunities and challenges. During this crucial phase, the support of a lawyer can be invaluable. A good lawyer can provide guidance and expertise to lay a strong legal foundation for your venture.

Start Your Business with Confidence: Legal Expertise Matters

1. Choosing the Right Business Structure

When you decide to start your business, one of the initial and most crucial decisions involves selecting the appropriate legal structure. Options include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations, each with unique advantages and challenges. A lawyer will guide you through this process, helping you understand the pros and cons of each option, ensuring the best fit for your business’s long-term success.

2. Protecting Your Intellectual Property

Safeguarding your innovation is vital as you start your own business. If your venture involves a unique product or service, it’s essential to protect it from unauthorized use or theft. A lawyer will help you explore protection strategies, such as trademarks, copyrights, and patents, and assist in enforcing your rights against unauthorized use.

3. Drafting Solid Contracts and Agreements

For any business, entering into various contracts with stakeholders is inevitable. Generic templates may not adequately protect your interests. An attorney will ensure you understand the implications of these agreements and the importance of specific terms, safeguarding your business interests.

4. Handling Legal Issues and Disputes

Despite all precautions, legal disputes can arise. A knowledgeable lawyer will help manage these issues and seek resolutions that benefit your business . They are also crucial for representing you in court, either for defending against lawsuits or enforcing your rights.

5. Ensuring Compliance with Government Regulations

Every business must comply with various regulations, including employment laws, tax laws, health, and safety regulations. A lawyer can clarify your legal obligations, guide you in complying efficiently , and ensure that your business meets all regulatory standards to avoid fines, penalties, or legal actions.

As you embark on starting your business, our firm is dedicated to providing the necessary legal support and guidance to establish a strong foundation for your venture. Contact Brenden Kelley Law at 216-644-3359 for a consultation and set your business on the right path.

Legal Malpractice Explained: Know Your Rights as a Client

Fri, 06 Jun 2025 04:07:11 GMT

Just like you can sue a doctor for medical malpractice, you have the right to sue a lawyer for malpractice. Common forms of legal malpractice include missing deadlines, failing to communicate, not disclosing conflicts of interest, or acting misleadingly for personal gain. It’s crucial to understand that if you’ve experienced legal malpractice, you typically have only one year to file a claim from the date you become aware of the issue or from the date of last representation. This time constraint underscores the importance of recognizing and acting promptly if you believe you’ve been wronged by an attorney.

Did you have an Attorney-Client Relationship?

You can only sue a lawyer for legal malpractice if an attorney-client relationship existed. This relationship is formed when a lawyer or law firm agrees to represent you, thereby committing to act in your best interests. Assessing the presence of this relationship is the first step in evaluating a malpractice case .

Did your Attorney fail to meet the Standard of Care?

If an attorney-client relationship existed, the next step is to check if the lawyer met the standard care typically provided by Ohio attorneys in similar situations. Breaching the standard can lead to legal malpractice liability. Key standards include:

Timely filing documents and meeting deadlines.
Keeping clients informed about their cases.
Providing competent representation based on knowledge and skills.
Prioritizing the client’s best interests.
Maintaining confidentiality.

Breaching any of these duties and causing client harm may lead to a malpractice claim.

Was my Attorney Negligent?

Negligence is a common legal malpractice type. It happens when a lawyer doesn’t meet the standard of care. For example, missing a court filing deadline or failing to submit records can be considered negligence. If you suffer losses due to your lawyer’s negligence, you can seek compensation.

Did my Attorney Breach their Contract?

Breach of contract is another legal malpractice form. It occurs when a lawyer doesn’t fulfill their contractual obligations. An example is a lawyer who takes payment but fails to provide the promised legal services or refund.

How were you Damaged?

Proving damages is crucial in legal malpractice cases. Damages refer to the court’s remedy to compensate the harmed party. In legal malpractice, they typically include economic damages, like lost wages, and non-economic damages, such as emotional distress. The challenge is proving that your losses directly resulted from your attorney’s actions.

Seek Legal Advice as Soon as Possible

In summary, malpractice occurs when a lawyer fails to competently represent a client or breaches their professional duties. If you suspect you’re a victim of attorney malpractice, seek legal advice promptly. While these claims can be complex, pursuing damages is possible if you can demonstrate harm caused by the attorney’s actions or inaction. For assistance, contact Brenden Kelley Law at 216-644-3359.

The Best Entity and Tax Choices for Dental Practices

Fri, 06 Jun 2025 00:27:29 GMT

This is a subtitle for your new post

One of the most crucial decisions when opening a dental practice is choosing the right entity and tax structure. What may seem like a simple task at first can quickly become overwhelming. There are many nuances and considerations that make it nearly impossible to select the default best choice. In this blog post, I have highlighted some practical options for small dental practices with one or two owners.

Avoid the Liability of Sole Proprietorships and General or Limited Partnerships

One of the easiest entities a person can form is a sole proprietorship. However, it offers zero protection from personal liability. That means if the business fails you’re personally on the hook. General and limited partnerships also have zero protection from personal liability.

Limited Liability Companies and Corporations afford the most protections.

For personal liability protection, it is best to form either a limited liability company (LLC) or a corporation. Both entities shield the owner(s) from the acts or omissions of the entity’s employees and other business operation liabilities. LLCs and corporations are both good choices when it comes to personal liability protection. However, they have different corporate formalities that must be followed. Corporations have more formalities, such as requirements to maintain minutes and have certain meetings, while LLCs do not have such obligations.

Understand the Tax Implications

When it comes to taxation, the entities have different requirements and implications. A partnership is a pass-through entity, which means all income, losses, and credits flow through to the partners’ individual income tax returns. However, partnerships must file a tax return even though the entity itself is not subject to tax. A C corporation is subject to double taxation, which means the corporation is taxed on all the business earnings, and those earnings are taxed again when paid out as dividends. An S corporation is subject to only one level of tax and can reduce the employment tax liability of the owners by managing their reasonable compensation in relation to the S corporation’s net-profit distributions.

For LLCs and corporations, the entities can be taxed as either a C corporation or an S corporation. However, if a dentist chooses a corporation as their entity, they must understand the corporation’s limitations in terms of tax flexibility from initial formation through to the sale of the dental practice.

Choose What Works Best for You

While there is no right or wrong answer when it comes to choosing the right entity and tax structure for your dental practice, there are clear pros and cons to each. Your choice will depend on various factors, including the number of owners, the number of dentists, business objectives, personal liability protection, and tax savings .

Consulting with an attorney to evaluate the options is a crucial step in making the best decision for you and your practice. Call our firm today at 216-644-3359 so that we can help you open your dental practice and protect your interests.