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Be Like Bob - Succession Planning

Be Like Bob - Succession Planning

Bob is back with a new lesson to help your business. Many small business owners want to retire. Most don't have a plan on how to make that happen. Steven Covey's second habit is, "begin with the end in mind." As a small business owner, determining your exit (end) will guide your corporate structure and business operations. It will also determine the appropriate level of succession planning for your situation. So, whether your business ends when you walk away, you build an empire and sell, or you build a brand with superb systems that can last for decades after you leave, one thing is certain having a succession plan is important.

BusinessBrocton SkeenFebruary 22, 2023Be Like Bob, Succession Planning, Small BusinessComment

Holiday Primer 2022 - 5th Anniversary Edition

Holiday Primer 2022 - 5th Anniversary Edition

’Twas the month of the holidays across the Commonwealth,

We hope this year's primer finds you in good health.

GeneralBrocton SkeenDecember 1, 2022Holiday, LLC, Child Support, Family Law, criminal defense

SCRAP More Criminal Charges

SCRAP More Criminal Charges

Being pulled over or stopped by an officer is unnerving – there are no two ways about it. From start to finish, the process is emotionally rattling. A stop also can determine whether the officer obtains enough evidence to file charges against you. How you react to the stop will build or destroy your available defenses.

Criminal DefenseBrocton SkeenAugust 19, 2022criminal defense, SCRAP, fourth amendment, fifth amendmentComment

Trust Us—Trusts Aren’t Just For the Wealthy

Trust Us—Trusts Aren’t Just For the Wealthy

If we have heard “I don’t need a trust because I am not rich” once, we’ve heard it a million times. If each time were worth a dollar, we would have a big marketing budget to bust this myth. What is at the core of this misconception? That is hard to tell. What we do know is that a revocable living trust is an excellent estate and long-term planning solution for many.

Estate PlanningBrocton SkeenAugust 11, 2022Trusts, Estate PlanningComment

Be Like Bob - Going Public

Be Like Bob - Going Public

This is a simplification of the process of going public, it is an example of the best-known investor exit. Investor exits are a major consideration for business owners, as are returns, growth, and how each of these fits into the investor’s time horizon.

BusinessBrocton SkeenJuly 17, 2022Small Business, Be Like BobComment

Howdy, Partner!

Howdy, Partner!

A lot of small business information available today focuses on LLCs. And while we are big fans of LLCs, there is a more direct and simple solution to get a business going. That solution is a partnership.

BusinessBrocton SkeenJune 27, 2022Partnership, Small Business, Business FormationComment

Red, White, and Boom — The Skeen Firm – Fourth of July Fun Guide

Red, White, and Boom — The Skeen Firm – Fourth of July Fun Guide

As we barrel toward our annual freedom fest on the 4th, it is important to remember some key laws and regulations. Doing so will prevent your holiday from ending in an undesirable boom. It might even help you increase your urge to toss tea in large bodies of water and attract bald eagles and the ghost of George Washington. (Note: results may vary, but safe, legal fun should not).

GeneralBrocton SkeenJune 14, 2022 Comment

The Cold Hard Facts of Pennsylvania Child Support

The Cold Hard Facts of Pennsylvania Child Support

Pennsylvania child support guidelines look at the portion of a household net income used for the benefit of the children of that household and then assigns a portion of that amount to each parent based on that parent’s contribution to the adjusted net household income. Sounds complicated, right? It really isn’t. Let’s walk through an example.

Family LawCrystal L. McLaughlinMarch 1, 2022Family Law, Child SupportComment

The 1,2,3s of Asset Protection from Pennsylvania LLCs

The 1,2,3s of Asset Protection from Pennsylvania LLCs

To say there is an abundance of information online about Limited Liability Companies (LLC) is an understatement. With such great resources, why do many owner-operators have common problems? Whether going it alone or with a team by your side, it is important not to ever lose focus of the main value of an LLC: personal asset protection. That protection lasts only if the corporate veil stays intact.

Brocton SkeenFebruary 23, 2022LLC, Small Business, Asset ProtectionComment

Be Like Bob - LLC to C. Corp. Conversion

Be Like Bob - LLC to C. Corp. Conversion

LLCs are great for their ease of management and minimal corporate formalities. But, as a business scales, it could attract investors. Those investors are otherwise known as venture capital funds (VC). VCs prefer to invest in C Corporations. There are many reasons like tax considerations and exit strategies. For some business owners accepting fund investment was not on their radar when forming their business. Remember, one of the main considerations of forming a corporate entity is personal asset protection.

BusinessBrocton SkeenFebruary 17, 2022Be Like Bob, Small Business, Business Formation, Business GrowthComment

Be Like Bob - LLC

Be Like Bob - LLC

Bob is back and his assets have grown. Now is the time to think about organizing his business to protect his assets. The simplest method to do that is through a Limited Liability Company (LLC). Yes, Bob will get certain tax benefits, but that is not the most valuable attribute an LLC provides. The most valuable attribute of an LLC is asset protection for its members. The fact that it is not as formal as a corporation is a major bonus too.

BusinessBrocton SkeenFebruary 17, 2022Be Like Bob, Business Formation, Small BusinessComment

Be Like Bob

Be Like Bob

We are often asked about which business entity is best? We almost always answer with, it depends. So, meet Bob, who will help us better explain when certain business entities might be right for you. Every other week we will follow Bob from sole proprietor to public company. Each time your goal is to #belikebob.

BusinessBrocton SkeenFebruary 17, 2022Business Formation, Small Business, Be Like BobComment

Alimony, Spousal and Child Support…Oh, My!

Alimony, Spousal and Child Support…Oh, My!

The end of a marriage is a difficult time for anyone, and the financial consequences of untangling two lives can make it even worse. Although each is unique, alimony, spousal support and child support are all similar in the sense that one spouse is making a payment for the benefit of someone else (the other spouse or the parties’ children).

Family LawCrystal L. McLaughlinFebruary 14, 2022Spousal Support, Alimony, Child Support, DivorceComment

The 85% Rule, Flow State, and Business Growth

The 85% Rule, Flow State, and Business Growth

BusinessBrocton SkeenFebruary 7, 2022Small Business, Business Growth, Strategy, MindsetComment

Governance - Gosh Darn It!

Governance - Gosh Darn It!

At The Skeen Firm, we take the grind out of governance, allowing you to focus on making money. Don’t let governance issues hamstring your business or be your Achilles’ heel, leaving you to say gosh darn it.

BusinessBrocton SkeenJanuary 24, 2022Governance, Small Business, Business GrowthComment

Martin Luther King Day 2022

Martin Luther King Day 2022

"The ultimate measure of a man is not where he stands in moments of convenience and comfort, but where he stands at times of challenge and controversy." Martin Luther King, Jr.

GeneralBrocton SkeenJanuary 17, 2022Great QuotesComment

So your marriage is coming to an end. Now what? Part II

So your marriage is coming to an end. Now what? Part II

You’ve gotten over the initial shock of realizing that your marriage is over. Now what? Well, now you have some tough decisions to make starting with what do you want out of the divorce. Some preliminary matters to work though include who stays in the house, who gets physical custody of the children, who gets possession of the family pet, and how will the assets/debts be divided.

Family LawCrystal L. McLaughlinJanuary 17, 2022Divorce, Custody, Family LawComment

I’ll Take Corporate Transparency Act and Beneficial Ownership Disclosure for $500

I’ll Take Corporate Transparency Act and Beneficial Ownership Disclosure for $500

The Corporate Transparency Act (“CTA”) is part of the Anti-Money Laundering Act of 2020, which Congress added to the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”). The CTA requires Beneficial Ownership Disclosure (“BOD”) of all reporting companies. To keep it simple a reporting company is any corporation, LLC, or other similar entity formed with any state or foreign government. A beneficial owner of this kind of company is any person or entity with over 25% ownership.

BusinessBrocton SkeenJanuary 10, 2022Small Business, LLC, ComplianceComment

So your marriage is coming to an end. Now what?

So your marriage is coming to an end. Now what?

Although no one gets married planning for a divorce, sometimes people are better off apart. Maybe they’re better as friends or maybe they’re so toxic together that divorce is the healthiest option for everyone involved. The end of a relationship – even more so a marriage – can be a tough thing to process both mentally and emotionally.

Family LawCrystal L. McLaughlinJanuary 3, 2022Divorce, Family LawComment

Naughty or Nice - Custody Edition

Naughty or Nice - Custody Edition

The holiday season is upon us, and we’re just as excited about Santa’s arrival as you are! Did you know that Santa’s Naughty and Nice list isn’t only for children? That’s right. Santa’s also making a list of parents dealing with custody issues, and he’s checking it twice.

Family LawCrystal L. McLaughlinDecember 16, 2021Custody, Family LawComment