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For more than 20 years,


the attorneys of Stagnaro, Saba

& Patterson
have offered

comprehensive legal

services to entrepreneurial

businesses and individuals.


 


Our Commitment to You

We are passionate about your needs and goals.


 

LATEST BLOG POSTS

Why Your Ohio Business Should Have a Statutory Agent
Wednesday, January 10, 2018

  By Lisa M. Rammes, Business Law Attorney

When starting a new business in Ohio, an important detail to have on your checklist is choosing a statutory agent to receive legal paperwork on your behalf should the need arise.

What is an Ohio statutory agent and why does your Ohio business need one? This article answers these questions and explores the roles of a statutory agent and why you may not want to serve as your Company’s statutory agent.  




Is Your Deferred Compensation Plan 409A Compliant?
Friday, December 15, 2017
  By Jeffery G. Stagnaro, Business Law Attorney and Jeffrey B. Stagnaro, Law Clerk

Nonqualified deferred compensation (“NQDC”) plans are common tools for business owners with respect to the compensation and retention of key employees. Under an NQDC plan, an employee may defer receipt of compensation due in one taxable year to a later taxable year—with payment typically triggered upon the occurrence of a specific event, such as retirement. Under a well drafted NQDC plan, an employee will not be taxed on the deferred amount until the income is actually received, thereby offering potential favorable tax treatment to the employee. For example, NQDC plan payments received upon retirement are often paid in a tax year in which the retiree is in a lower tax bracket.





Business Succession Planning for Closely Held Businesses: 7 Key Steps
Thursday, December 7, 2017
  By Jeffery G. Stagnaro, Business Law Attorney and Jeffrey B. Stagnaro, Law Clerk

Closely held businesses are substantial drivers of the economy. Family owned businesses, for example, account for roughly 50% of GDP in the US. Yet, only 30% of family owned businesses transition successfully to the second generation. Among other factors, inadequate or entirely absent business succession planning makes it difficult for closely held businesses to achieve long-term sustainability.

While there is no single solution to effective succession planning, here are 7 steps business owners can take to position their companies for successful transitions. 


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   JEFFREY G. STAGNARO  PETER A. SABA  PAUL T. SABA  WILLIAM J. PATTERSON  SEAN P. DONOVAN  



 
 
 


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