Business Basics

November 2004
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In this Issue
Joke of the Month
Business Tip of the Month
In the News
Thank Your Clients
Success Tip of the Month
Joke of the Month
A man was sent to hell for his earthly transgressions. As he was being led to his place of eternal torment, he passed a room where a lawyer was in intimate conversation with a beautiful young woman.
"Wait a minute," the man protested to his demon escort. "I have to roast for all eternity, and someone else gets that?"
The demon jabbed the man with his pitchfork and snarled, "Who are you to question that woman's punishment?"
In the News
Proper tax planning can save a company or business hundreds or even thousands of dollars each year. Enough money to help pay bonuses or fund retirement savings.

You need to work along side of your tax professional throughout the year. Year-end planning begins in October not in December. They will help you plan. They will help you maximize the time left this year. They will help you maximize your return on dollars spent.

Get together with your tax professional NOW not on December 30th.
It’s not too late to initiate new measures that may help reduce tax liability for this year, as well as, for the years to come. Your tax professional can work with you prior to year end to develop a plan.

Taxes are a variable expense, you do have choices.

Making the right choices can save you hundreds if not thousands of dollars. It is better to plan the game plays at the beginning to help produce the proper outcome instead of sitting back and waiting until the score is posted to see who wins.
About Us
The Traub Law Office is a Full Service Law Firm located at 8601 RR 2222.

Andrew Traub is my name, and I want to help you and your business. Call me at 343-2572 or email me.
Business Tip of the Month
The following list of tips may help save on taxes before the end of the year. Be sure to consult your accountant before implementing any of them:
  • If you are a sole proprietor, it may make sense to change to a C/S Corporation, an LLC, or a partnership.
  • If the company needs new computers, machinery or other equipment, action before the end of the year can produce substantial tax write-offs. You may be able to deduct ("expense") up to $100,000 of the cost of such equipment placed in service before December 31. And you may claim bonus depreciation - an added first-year write-off in addition to expensing, while depreciating the balance of the equipment's basis over its remaining recovery period. If you finance the purchase, you may be able to claim large deductions without any immediate cash outlay.
  • If the business doesn't have a qualified retirement plan, consider setting one up before December 31. As long as the papers are signed by this date, contributions to the plan generally can be made as late as the due date of your return (including extensions). There's a small business tax credit for setting up a plan. For rules on retirement plans for small business, see IRS Publication 560.
  • If the business can afford to pay for education, dependent care, and certain other personal costs of employees, review plan requirements for tax savings. Also look into options for plans that don't cost the company anything but that enable employees to pay for personal expenses on a pre-tax basis.
Free Initial Consultation
Did you know that the Traub Law Office offers a free initial consultation? Part of my dedication to my clients is ensuring that there is a good fit between you and I. The purpose of the free initial consultation is for you to tell your story, learn about me, and then we can decide whether we would work well together. There is no obligation on your part, so why not schedule a free initial consultation today
Business of the Month
Do you give your clients gifts? As the end of the year approaches, many of us start to look forward to the holiday seasons. Gift giving and family are on peoples minds. What if you could surprise your client with a thoughtful gift which will make them remember you each time they use it? Selling your services is all about referrals. Your clients are more likely to refer you when they remember you. They will remember you when you give them something tangible. Talia Pam Promotions specializes in putting useful items in your buyer's hands with your name and number on it. If you want to make a lasting impression on your clients, give Talia a call at 914-2573 or email her.
Services Offered by the Traub Law Office

  • Entity Formation: Limited Liability Companies, Corporations, Limited Partnerships, etc.
  • Buy-Sell Agreements
  • Debt Collection
  • Employee Non-Compete Agreements
  • Sales Agreements
  • Contract Reviews
  • Contract Creation
If there's anything I can do for you, legal or otherwise, please just let me know. And if you know anyone who could use my services, please pass my name on to them.


This newsletter is designed for general information only. The information presented in this newsletter should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
8601 RR 2222, Building I, Suite 104 € Austin, Texas 78730 € Phone: 512-343-2572 € Fax: 512-597-0200
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