InSight Law On the Cutting Edge of Estate Planning

During the past few months, InSight Law focused on technology to provide better and more efficient service options to our clients. Below is a summary and review of several of our new technology options: Actionstep Portal: The firm has switched customer relationship management systems to Actionstep. They offer a client portal using Amazon Web Services infrastructure to provide a secure storage and exchange of documents between individual users and the firm. This allows clients the option of going “paperless” and reduces the need for mailing paper copies of documents and updates. The paperless option includes electronic copies of your Asset Review Report and Estate Planning Review Worksheets. We introduced the portal late last fall and have more than 20% of our clients already participating. Directive Communication Systems (DCS): As a follow up to our Digital Assets discussion in the last newsletter, we have explored providing an option to store, organize, and manage...

21 February

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Own a Technology Business in Virginia? Take Advantage of a Little Known Capital Gains Tax Exemption

Posted by Bobby Feisee

in Bobby's Blog

Starting and managing a business is challenging, especially in the highly competitive technology sector. You have to ensure your product or service is on the cutting edge, while also juggling regulatory requirements and staying up-to-date with business taxes. Fortunately, the Commonwealth is taking some of the burden off your shoulders through the state tax code. Entrepreneurs and investors who make qualified investments in early-stage technology, biotechnology and energy startups in Virginia through 2020, can seek exemption from paying state income tax on their long-term capital gains throughout the life of the investment, according to the Northern Virginia Technology Council. This exemption was created as an incentive to encourage entrepreneurs to start and build their technology business in Virginia. It is also meant to encourage investors to make substantial investments in Virginia technology companies. As a Virginia business planning attorney, I think it makes sense for business owners and/or investors in the technology field...