Copperworks Artist David Gerton Presents ‘War Bonnets’

Hello Art Lovers. Sure Happy It’s Thursday which is kinda like TGIF except different letters. 

Continuing with the Native American Art Series, here is the first WAR BONNETS piece by Copper Works artist David M. Gerton! 

War Bonnets are feathered headdresses traditionally worn by male leaders of the American Plains Indians Nations, who have earned a place of great respect in their tribes. In old times they were sometimes worn into battle, but primarily used for ceremonial occasions. They are seen as items of great spiritual and political importance, and should only be worn by those who have earned the right and honor through formal recognition by their people. There are no formal rules as to design, which can vary from tribe to tribe and contain different materials. In the 19 century many contained trade beads, Eagle feathers, animal bones and pelts, shells, turquoise and gemstone embellishments, and stroud cloth a material made from heavy wool used in blankets such as the Hudson Bay blankets that were traded with the Native Americans of North America. 

Prior to European contact, there were no horse cultures, but they flourished after the introduction of horses in the 17th century and through the late 19th century. This was when their historic nomadism became an armed resistance to domination by the governments and military forces of Canada and the United States.

This piece is a mixed media, Copper, alcohol ink, acrylic, and Crystal resin. It is a Diptych simply titled “WAR BONNET”. 19” high by 25” wide in an antique gold shadow box frame. On the left is Chief Redfeather, who may have lived on or around Red Feather, Lakes, and the Village of Red Feather Lakes, Colorado. On the right is “CHIEF”. CHIEF could be from any number of tribes on the plains but is most likely Lakota Sioux. 

THIS IS THE ARTIST’S FAVORITE WORK’.

FIND THE HEARTS!  There are two of them.

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Gluesenkamp Perez Leads Blue Dog Coalition in Call for Action on Fentanyl

WASHINGTON, D.C. – Recently, Rep. Marie Gluesenkamp Perez (WA-03), Blue Dog Coalition Admin Co-Chair, led a majority of the Blue Dog Coalition in a letter to Speaker Mike Johnson calling on him to bring S.331, the Halt All Lethal Trafficking of (HALT) Fentanyl Act, to the House floor for a vote. 

“The fentanyl crisis is one of the most pressing issues facing communities across the country. According to US Customs and Border Patrol, 7,793 pounds of fentanyl have been seized within the United States since just September 2024,” the Blue Dogs wrote. “In the face of this challenge, it is crucial we provide law enforcement with the proper tools to combat the flow of fentanyl, which has been driving our nation’s addiction crisis.”

According to the Drug Enforcement Agency (DEA), fentanyl-related overdose is the leading cause of death for Americans 18 to 45 years old. Furthermore, the same substances accounted for nearly 7 out of 10 of all overdose deaths in 2022. 

“This is an issue that hits close to home. It is critical we put an end to the fear and heartbreak that the deadly flow of fentanyl causes in hollowing out our communities,” the Blue Dogs continued. “As members of the Blue Dog Coalition, we have long advocated for commonsense policies that bolster American national security. The fentanyl crisis needs an all-of-the-above government response, and we stand ready to do our part.”

This letter was co-signed by: Reps. Marie Gluesenkamp Perez (WA-03), Blue Dog Coalition Administration Co-Chair; Adam Gray (CA-13), Blue Dog Coalition Whip; Jared Golden (ME-02), Mike Thompson (CA-04), Jim Costa (CA-21), Sanford Bishop (GA-02), and Henry Cuellar (TX-28).

You can read the full text of the letter here.

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Beyond the FDIC Safety Net: Protecting Cash Beyond Insurance Limits

Imagine this: You’ve spent decades carefully saving money, building a comfortable nest egg representing years of hard work and discipline. One morning, you’re sipping coffee and browsing the news when headlines about a bank failure catch your eye. Your stomach drops as you realize a significant portion of your savings could be at risk because you’ve got an account in cash that exceeds the FDIC insurance limits. 

This scenario isn’t just a theoretical worry—it’s a very real concern, as we have seen banks fail. The Federal Deposit Insurance Corporation (FDIC) serves as our financial safety net, offering protection of up to $250,000 per depositor, per insured bank, for each account ownership category. But what happens when your cash savings exceed that safety net? How do you ensure your entire financial legacy remains protected?

Understanding FDIC Insurance: Your Financial Safety Net

The FDIC was born from the ashes of the Great Depression when thousands of banks failed, and countless Americans lost their life savings. Today, it is one of the cornerstones of our banking system’s stability. Think of FDIC insurance as a financial life preserver—it’s not something you think about until you need it, but you’ll be immensely grateful it’s there when the waters get rough.

Here’s what to know: FDIC insurance isn’t just a blanket coverage of $250,000 per person. It’s more nuanced and more generous than many realize. The coverage extends to $250,000 per depositor per FDIC-insured bank for each account ownership category. These categories include single accounts, joint accounts, certain retirement accounts, and trust accounts.

Let me break this down with a practical example. Imagine Maria has the following accounts at First National Bank:

  • A personal checking account with $100,000
  • A joint savings account with her husband containing $300,000
  • An Individual Retirement Account (IRA) with $200,000

Is Maria fully protected? Let’s see: Her personal account falls under the single ownership category ($100,000, fully covered). The joint account with her husband receives up to $250,000 for each owner (Maria’s $150,000 share is fully covered). Her IRA falls under the retirement account category (her $200,000 is fully covered). Maria has $450,000 protected by FDIC insurance at this one bank.

Does this coverage arrangement make you think differently about how your accounts are structured? Have you considered how your current banking setup aligns with these protection categories?

When Your Savings Exceed FDIC Limits: Strategic Approaches

Many of us dream of having “too much money” for FDIC insurance to cover fully—it’s a good problem to have! But it’s still a problem that needs solving. When your financial reserves take you beyond the FDIC safety net, it’s time to get strategic about protecting those hard-earned dollars.

Think of managing large deposits like a farmer who doesn’t plant all their crops in a single field. If a storm hits one area, the entire harvest isn’t lost. Similarly, spreading your financial assets across multiple institutions creates resilience in your financial portfolio. Here are several approaches to consider:

Multiple Bank Strategy: Dividing Your Financial Pie

The most straightforward approach is to spread your funds across multiple FDIC-insured banks. Each bank will provide separate insurance coverage, effectively multiplying your protection. For example, if you have $750,000 in savings, you could place $250,000 in three different banks, ensuring complete FDIC coverage.

This strategy is a bit like not putting all your eggs in one basket—a time-tested approach to risk management that remains relevant in our digital banking age. The downside? Managing multiple accounts across different institutions requires more time and attention. You’ll need to track various account numbers and passwords and potentially deal with varying banking platforms. On top of that, if you have a revocable living trust, you want to ensure each account is tilted in the name of your trust and not in your name.

Utilizing Different Ownership Categories: Maximizing Protection at One Bank

Another approach involves strategically using different ownership categories within the same bank. A married couple, for instance, could have individual accounts ($250,000 coverage each) plus a joint account (another $500,000 in coverage, $250,000 for each person). Here’s what that could look like:

  • Husband’s individual account: $250,000
  • Wife’s individual account: $250,000
  • Their joint account: $500,000
  • Husband’s IRA: $250,000
  • Wife’s IRA: $250,000

That’s a total of $1.5 million protected at a single institution! This approach offers convenience but requires careful planning and clear documentation of ownership. If you have a revocable living trust, I must review your options with you here to ensure your accounts are correctly titled both for FDIC coverage and for your trust/estate planning purposes.

Certificate of Deposit (CD) Laddering: Timing Your Protection

CD laddering involves purchasing certificates of deposit with varying maturity dates. This provides a steady stream of maturing funds and can be structured across multiple banks to maximize FDIC coverage.

Imagine building a ladder where each rung represents a CD at a different bank. As each CD matures, you can decide whether to reinvest at the same bank or move funds elsewhere based on current interest rates and your coverage needs.

This approach is like planting different crops that harvest at different times of the year—you’re constantly collecting something, and no single weather event can wipe out your entire yield. If you go this route again, I want to ensure your CDs are properly titled in the name of your living trust.

Considering Credit Unions: An Alternative Safety Net

Credit unions offer an alternative to traditional banks with similar protection through the National Credit Union Administration (NCUA). The NCUA’s share insurance fund protects deposits up to $250,000, comparable to FDIC coverage.

For some, credit unions offer a more personal banking experience, competitive rates, and lower fees. They can be an excellent component of your deposit-spreading strategy.

As you consider these options, ask yourself: How is my current banking arrangement structured? Could I be vulnerable to losing uninsured deposits if my primary bank were to fail? How much complexity am I willing to manage to ensure maximum protection?

Looking Beyond Traditional Banking: Additional Options

Sometimes, thinking outside the traditional banking box can provide security and opportunity. Cash management accounts offered by brokerage firms often spread your deposits across multiple banks automatically, maximizing FDIC coverage without you having to manage multiple accounts directly.

For more significant sums, Treasury securities offer the backing of the full faith and credit of the US government and can be effective protection, so long as you believe the US won’t default on its loans. If you are concerned about the US debt crisis and whether the US will default on its loans, Treasury securities would not be a good option for you. 

Remember that protection is only one consideration. You’ll also want to consider accessibility, convenience, and how your deposits fit into your broader financial and estate planning goals. After all, what good is protection if it makes your financial life unwieldy or prevents you from using your money effectively?

Bringing It All Together: Creating Your Protection Plan

Protecting your financial legacy isn’t just about security today—it’s about ensuring that the fruits of your labor will benefit you and potentially your loved ones well into the future. Just as you wouldn’t build a house without a solid foundation, you shouldn’t build wealth without ensuring it stands on secure ground.

The first step is to assess your current deposit situation. Make a list of all your deposit accounts, their balances, and ownership structures. Then, assess how much of your money currently falls outside FDIC protection. This clarity will help determine how urgently you need to restructure your accounts.

Next, consider which of the strategies we’ve discussed best fits your personal situation. Do you value simplicity and would prefer the multiple-bank approach? Or perhaps you’d like to keep your banking relationships consolidated and maximize coverage through different ownership categories.

Implementing your chosen strategy doesn’t have to happen overnight. You can make changes gradually, perhaps as CDs mature or as you receive new funds to deposit.

Securing Your Financial Legacy for the Future

I don’t just draft documents; I help you ensure you make informed and empowered decisions about life and death for yourself and the people you love. Understanding and addressing FDIC insurance limits is crucial to protecting your financial legacy. 

That’s why we start with a Life & Legacy Planning® Session, where together, we’ll explore how your assets fit into your broader financial picture and help you get more financially organized than you’ve ever been. Then, I’ll support you in creating a Life & Legacy Plan that ensures your hard-earned assets are positioned to support your loved ones well into the future. 

Schedule a complimentary 15-minute consultation to learn more. Contact us today!

This article is a service of Res Nova Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning™ Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

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Explore the History Behind Camas Homes at Upcoming CWHS Program

CAMAS, WA — The Camas-Washougal Historical Society invites the community to an engaging and informative program, “Camas Historic Homes and First Owners,” featuring the extensive research of Madeline Mesplay, a dedicated volunteer at the Two Rivers Heritage Museum.

This free event will be held on Saturday, May 3, from 2 to 4 pm at the Camas Church of the Nazarene Community Center (2204 NE Birch Street, Camas).

Over the past two and a half years, Mesplay has uncovered rich historical details about nearly 400 Camas homes built between 1900 and 1939—including their first owners and, in many cases, their original builders. Her work has included walking neighborhood surveys, capturing original photographs, using Clark County GIS data, and conducting extensive research at the Washington State Archives in Olympia.

“My presentation will mostly follow a chronological timeline,” said Mesplay. “It’s fascinating to see the town’s development over the decades—some years saw a surge in construction, while others were quieter, even before the Great Depression. During the Depression, homes tended to be smaller and more modest.”

One area of focus for Mesplay is identifying homes built by prolific local builder John Roffler, who is credited with many of Camas’ most iconic structures. His first known project was the stately Leadbetter House on Lacamas Lake.

In addition to architectural and historical insights, the presentation will include personal stories of the early residents—some who lived quietly and others who made lasting contributions to the Camas community. Mesplay also discovered intriguing connections between the local housing market and the influence of the paper mill during that era.

Mesplay’s research background is extensive. She previously documented Washougal properties in a collection that spans five 3-inch binders. Each record includes a photo, address, plat description, and information about the first property owner, genealogical notes, and—when available—the builder.

“I first learned land research in Oklahoma, working with tribal allotment records,” she said. “Later, I volunteered at the Clark County Historical Museum, where I was trained in urban land research by Brad Richardson.”

To schedule an appointment to view this research or explore the TRHM’s extensive archives on local families and properties, call 360-835-8742 or use the contact form at www.2rhm.com.

The Two Rivers Heritage Museum is open to the public Saturdays from noon to 4 p.m. through October. Group tours for eight or more can be arranged by calling the museum. Admission is $5 for adults, $4 for seniors, $2 for students, and free for children under 5 and CWHS members.

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City of Camas to Launch New Utility Billing Customer Portal

Camas, WA — City of Camas residents will have a new way to access their utility bills when the City launches the new Customer Utility Access Portal, Monday, April 21. The new customer portal is part of the City’s upgrades to the utility billing software, which is part of the larger Tyler ERP conversion project the City has been undergoing.

In order to create an account in the new portal, residents will need their new account number and their customer number.

For most customers, the customer number will be their existing utility account number, and the new account number will be on the upcoming bill.  To help with this transition, the City’s Finance Department will host a series of open houses in the coming weeks to help residents navigate the new portal, including providing them with their new account number in advance.

The open houses will take place in City Hall at 616 NE 4th Ave., dates and times are as follows:

Tuesday, April 22: 9 a.m. – Noon

Wednesday, April 23: Noon – 3 p.m.

Thursday, April 24: 9 a.m. – Noon

Tuesday, April 29: Noon – 3 p.m.

Wednesday, April 30: 9 a.m. – 11 a.m., and again from 5 p.m. – 7 p.m.

Thursday, May 1: Noon – 3 p.m.

Staff will also host an open house, Saturday, May 3, 9 a.m. – Noon, by appointment only. Residents interested in signing up for the Saturday open house can do so by sending an email with time preference to finance@cityofcamas.us This open house is subject to change depending on interest.

In addition to the new portal, the ERP conversion also includes a new City services app that allows residents to report issues, access City directories and link to other important City information. Residents will also be able to access their Utility Billing account and apply for permits and licensing once the app is fully completed.

More information and updates can be found at https://www.cityofcamas.us/finance/page/utility-billing or https://engagecamas.com/ubupdate

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Camas School District Cuts 38 Teachers From Payroll, More to Come 

Camas, WA — Due to a $13-$16 million budget shortfall for the 2025-26 school year, newer educators in the Camas School District are being laid off, with more cuts expected next week. Thirty-eight teachers received layoff notices this week.

Eight to 8.5 percent of the district’s teacher workforce will lose their jobs for the coming year, said Camas School District Superintendent John Anzalone.

Provisional teachers (who have were hired in the last three years) will not have their contracts renewed, said the district’s Communications Director, Doreen McKercher.

To close the deficit, the district also needs to cut 13 percent of its classified, non-educator support staff, as well as 29 percent of its administrative positions. The cuts are due to the following factors: inflation, student enrollment decreases (which means less state money), the end of federal pandemic relief funds, and a smaller reserve fund. The district is also grappling with the possibility of losing federal funding (about 10 percent of its budget) due to its refusal to (under direction from the state) to comply with President Trump’s executive order to cease Diversity, Equity, and Inclusion (DEI) programs district wide.

Cuts were also made in February, with the elimination of administrative positions at multiple schools district wide.

Anzalone said additional layoffs will come early next week.

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Skyridge Students Win 2 Awards at WA State Science & Engineering Fair 

Bremerton, WA — Aaria Lankireddy and Joyce Zhang from Skyridge Middle School won two awards at the Washington State Science and Engineering Fair (WSSEF), which was held on March 28.

Aaria and Joyce were awarded first place in 7th grade for their invention of a specialized tea-based dental gauze prototype model. Their 6 months of innovative scientific research project was titled: “Pioneering the First Scientific Tannin Acid-based Emergency Solution for Dental Bleeding Control.” 

The team experimented in creating a specialized gauze which helps control emergency dental bleeding especially in the case of post extraction bleeding and for patients on anti-coagulation medication who may have bleeding problems. The team created an over-the-counter remedy that is accessible and affordable. They also won a special award in Oral Health Care by the Washington State Dental Association with an invitation to present their science project at the PNW Dental Conference in Seattle.

The team gives special thanks to all their volunteer participants in their experiment, MST senior mentors Yuna Lee, Meghana Parasa, and teacher Mrs. Abraham from Camas High School for facilitating Youth Research Scholar Club, NHS Oral Consultant, Dr Sekhar Reddy, MDS, FRCSed, UK for his professional guidance and Sarala Padala, MedTech Surgery – Sterilization expert, Johnson & Johnson, Switzerland for her professional guidance, and Dr Kala Sagar of Aspen Dental Clinic for the donation of dental sterilization pouches. 

Aaria Lankireddy was also recently awarded with patriot pen essay award from Veteran Foreign of Wars (VFW) as an outstanding spokesperson of youth presented at Skyridge Middle School by VFW Camas Post 4278. She is also library ambassador for Little Wings Library founded by Laura Sheppard, where she volunteers her free time with helping events, processing books that is displayed around the little libraries in the city of Camas. She achieved over 100 hours of Presidential Volunteer Service Gold Award. She is also a participant member of Math is Cool Team at Skyridge, which recently placed first in the regional. 

Joyce is a member of a stem non-profit, where she has helped run workshops, events, and teach classes to students worldwide. She has earned herself the Presidential Volunteer Service Award with gold medal multiple years in a row demonstrating commitment.  Joyce is also a member of multiple school clubs including ASB and Science Olympiad with several medals, representing her school. She has also started to venture into small business to teach herself about entrepreneurship.

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WSD Improves Financial Health Score, Strengthens Financial Planning

Washougal, WA — Washougal School District (WSD) has made significant progress in improving its financial health, and the district is no longer listed as a district with a financial warning on the OSPI Financial Health Indicator list. This improvement reflects the district’s commitment to sound financial management, using community feedback to guide budget adjustments, and achieving long-term fiscal stability. The district’s OSPI School District Financial Health Indicator has increased from 1.55 in the school year 2022-23 to 2.6 in 2023-24. 

The Washington Office of Superintendent of Public Instruction (OSPI) assigns financial health scores to each school district in the state based on key indicators including the ending fund balance to revenue ratio, expenditures to revenue ratio, and cash on hand. Previously, WSD’s 2022-23 score placed it in the “financial warning” category, prompting the district to take proactive measures to stabilize its financial position. 

Superintendent Aaron Hansen emphasized the district’s commitment to responsible financial stewardship, stating, “we recognized the urgency of addressing our financial situation and took deliberate steps to stabilize our budget. We asked for community feedback to guide reductions, and led with reductions in areas furthest from the classroom. While challenges remain, we are on a positive trajectory and committed to being strong stewards of public resources. We are thankful for our positive relationship with our labor partners and their help supporting staff impacted by the reductions.”

Next Steps for Continued Financial Stability

As WSD continues working toward long-term financial health, the district is implementing the following strategies to further strengthen its fiscal position and regain the full confidence of the community:

  • Restoring the Fund Balance to 6% – The district remains committed to meeting its 6% fund balance policy, which provides the operational cash flow the district needs to pay bills each month as well as handle unexpected financial challenges.
  • Advocating for Increased State and Local Funding – Given regional funding challenges, WSD is actively engaging with legislators and encouraging the community to advocate for changes in education funding to keep pace with inflation, fully fund special education, and fix the prototypical staffing model.
  • Demonstrating Fiscal Responsibility – The district is reinforcing its commitment to financial transparency by providing monthly financial updates to the Board and implementing clear financial reporting to ensure informed decision-making.
  • Developing a Long-Term Financial Plan – WSD is focused on building a multi-year financial strategy that ensures long-term stability, reduces the risk of future budget deficits, and sustains quality educational programs for students.

Commitment to Transparency and Board Engagement

At the request of the Washougal School Board, the district has increased the frequency and depth of financial reporting to ensure Board members remain fully informed. WSD now provides monthly financial updates, giving real-time insights into revenues, expenditures, and fund balance trends.

“The board is being provided with financial information in a clear, concise format to support our governance and decision-making,” said Sadie McKenzie, WSD School Board President. “The board appreciates the ideas shared by the community and has worked closely with the Superintendent to make sure we are preserving excellent programs for students as we create a sustainable budget.”

As WSD continues working toward long-term financial stability, district leaders remain committed to collaborating with the Board, staff, and community to make informed, responsible financial decisions that support student success.

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Preliminary Work Begins on Vancouver Washington LDS Temple Site

Camas, WA — The Church of Jesus Christ of Latter-day Saints has received approval to begin early construction work on the site of the future Vancouver Washington Temple. With the necessary permits in place, crews will start clearing the land, installing essential utilities, and realigning Bybee Road to accommodate the temple’s construction. These initial steps will prepare the site for further development and ensure proper infrastructure is in place.

“The commencement of this work marks an exciting milestone in the process of building a house of the Lord in the Vancouver area,” said Elder Gordon L. Treadway, Area Authority for the Church. “This sacred place will be a tremendous blessing for the many Latter-day Saints in the area and throughout Southwest Washington. We are grateful for the ongoing support and collaboration from the city of Camas.”

The building permit and design work for the Temple is ongoing, and while an official groundbreaking date has not yet been announced, an announcement regarding the groundbreaking will be forthcoming.

Temples of The Church of Jesus Christ of Latter-day Saints are considered sacred places of worship, where members participate in religious ordinances that strengthen their faith and family bonds. The Vancouver Washington Temple will serve Latter-day Saints in the region, providing a place of peace, worship, and spiritual growth.

Further updates, including the groundbreaking date and additional construction milestones, will be announced as the project progresses.

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Choosing the Right Business Structure: Beyond the Basic LLC

When starting a business, choosing your business structure is one of the most critical decisions you’ll face. While many entrepreneurs automatically gravitate toward forming an LLC (Limited Liability Company), this one-size-fits-all approach might not be optimal for your situation. Your choice of entity will affect everything from your tax obligations and personal liability to your ability to raise capital and plan for succession. Making the wrong choice could expose you to unnecessary risks or burden you with excessive taxes and administrative requirements.

Understanding Tax Implications Across Different Structures

Each business structure comes with distinct tax treatment that can significantly impact your bottom line. As a sole proprietor, for instance, all business income passes through to your personal tax return, where you’ll pay income and self-employment taxes on your earnings. While this arrangement offers simplicity, it could come with an increased audit risk.

An LLC offers more flexibility in tax treatment than just defaulting to sole proprietorship/pass-through treatment. A single-member LLC can be taxed as a sole proprietorship, while multi-member LLCs can be taxed as partnerships. However, an often-overlooked option is to tax your LLC as an S Corporation, which can provide significant tax savings once your business reaches around $60,000 in annual revenue. With S Corporation tax treatment, you only pay payroll taxes on your actual salary, not on your profit distributions, potentially saving around 15% in payroll taxes on those distributions.

One crucial consideration with S Corporation tax treatment is the requirement for “reasonable compensation.” The IRS requires S Corporation owners to pay themselves a reasonable service salary before taking profit distributions. What constitutes reasonable compensation can be subjective, but getting it wrong could result in serious consequences, including reclassifying all distributions as wages subject to employment taxes and potential penalties of up to 100%. 

Beyond Basic Liability Protection

While liability protection is often the primary reason entrepreneurs choose to form an LLC or corporation, each structure offers different levels and types of protection. For instance, professional corporations (PCs) can provide specialized protection for licensed professionals like doctors, lawyers, and accountants. Series LLCs allow real estate investors or entrepreneurs with multiple business lines to create separate “series” within one legal entity, each with its liability shield.

C Corporations, despite their reputation for complex administration and double taxation, can offer unique advantages for businesses generating significant profits because a C Corporation structure allows for sophisticated planning opportunities (the nature of which is outside the scope of this article, but book a call with me to learn more). The current corporate tax rate of 21% can also be advantageous for businesses reinvesting profits into growth.

However, C Corporations face double taxation, where profits are taxed first at the corporate level and then again when distributed to shareholders as dividends. This is why many smaller businesses opt for pass-through entities like S Corporations or LLCs, where profits are only taxed once at the individual level.

Making Your Decision with Growth in Mind

When choosing your business structure, consider where it is today and where you want it to be in five or ten years. Will you want to bring in outside investors? Are you building a company to sell or creating a legacy to pass down? Do you plan to expand internationally? These plans should heavily influence your choice of entity today.

For example, if you plan to seek venture capital funding, a C Corporation might be more appropriate despite its higher administrative complexity. Venture capitalists prefer C Corporations due to their flexible stock structure and familiar operating requirements. Or if you’re a solo professional service provider expecting steady growth, an S Corporation election could offer better long-term tax advantages than a simple LLC.

Remember that certain structures have specific requirements that might affect your future flexibility. S Corporations must meet several criteria, including:

  • Having no more than 100 shareholders
  • All shareholders must be U.S. citizens or permanent residents
  • Can maintain only one class of stock
  • Must be a U.S. corporation
  • All shareholders must consent in writing to the S Corporation election
  • Shareholders must be individuals, estates, or certain qualified trusts

Additionally, consider the administrative burden each structure requires. While sole proprietorships and partnerships offer simplicity in formation and operation, corporations and S Corporations require more rigorous record-keeping, regular meetings, and documentation when choosing; factor in these ongoing requirements, as they represent both time and monetary costs to your business.

Finally, to maximize the benefits of the right business structure for your business, make your decision with your eyes wide open – educated about and aware of all available options. The stakes are too high to go at it alone; you need a knowledgeable, trusted advisor on your side.

The Advisor You Need When Decisions Matter

As your trusted LIFTed Business Advisor and attorney, I understand that choosing the proper business structure involves carefully weighing multiple factors, from tax implications to growth plans. That’s why I offer a comprehensive LIFT Business Breakthrough Session™, during which we’ll analyze your current and future needs to help you make the best choice for your unique situation. Together, we’ll develop a plan that protects your business today and positions it for the growth and success you envision for tomorrow.

Contact us today!

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