There are many reasons why individuals and business entities move their residency to another state, including rate (or lack) of state income tax, labor pool and climate. It is a decision not to be taken lightly.

If business owners think recent times have been tough, they should expect them to get tougher. A Senate panel is urging that the IRS crack down on businesses that are delinquent in payroll taxes. See GAO report. The current amount owed to the IRS from delinquent businesses is a mind-boggling $58 billion.

Cell phone customers may not have known it but they received a big victory in California last week. A California judge held that the charges by Sprint Nextel Corp. for breaking the service contracts violated state law.

It seemed like a humorous story. A New York City street performer known as The Naked Cowboy was suing M&M Candies and Mars Incorporated as well as its advertising agency over a video billboard allegedly with an M&M character in The Naked Cowboy's outfit. But, it's not funny. There is a lot of money at stake.

We go into business with certain expectations  both as to what we expect to get out of it and at what cost. To sleep well at night, it is necessary to have your personal affairs in order including with perhaps a properly-structured family limited partnership or a multi-series family limited liability company. However, with your business assets, the first line of defense against any allegations of wrongdoing is insurance.