Ed LLoyd & Associates
The artist forever to be remembered as Prince shocked the world with his unexpected death last month at his Paisley Park compound outside Minneapolis. As is often the case when legendary musicians pass away, his album sales have soared. Fellow artists from Bruce Springsteen to the cast of the Broadway smash Hamilton quickly honored the seven-time Grammy award winner with their own versions of his iconic hits. But it’s just a matter of time before the gritty realities of settling an estate intrude on the purple rain of praise . . . and that includes the gritty reality of taxes.

Like many chart-toppers, Prince was a control freak when it came to his sound and his career. Apparently, though, that planning didn’t extend to his finances — last week, his sister filed papers with a Minnesota state court revealing he had left no will.

So who gets the assets, and just how much are we talking here? Well, Prince had no wife when he died, and his parents had already passed away. Under Minnesota law, that means his sister and five half-siblings stand to inherit his fortune. Most reports estimate there will be around $300 million to share . . . which should be enough to keep everyone rolling in little red corvettes for the rest of their lives.

Of course, that assumes that everything goes by the book. Already there are reports of would-be love children slithering out of the shadows, and Prince’s half-brother Alfred has hired an attorney to represent him after being barred from last week’s memorial. That may mean it’s the accountants and attorneys who get to party like it’s 1999.

Settling the estate without tearing it apart is just half the battle. That $300 million comes before taxes. The IRS takes 40% of everything above $5.45 million. The Gopher State takes another 16% of everything over $1.6 million. A little fourth-grade arithmetic suggests the tax man can go crazy with $150 million or more.

We can probably expect a fight over the exact amount due. Estate taxes are based on valuation, not income. So who’s to say what Prince’s name and image are “worth”? What about a vault of 2,000 unrecorded songs? What about the unpronounceable “love symbol” he adopted instead of a name to spite his record label? How much would Pepsi pay to make a commercial starring a holographic image?

That’s all before the tax man takes a bite out of the millions more in future royalties that his estate will certainly earn. Prince’s rival Michael Jackson earned $115 million last year, despite dying way back in 2009. Elvis Presley hasn’t recorded since Jimmy Carter was President, yet his estate earned $55 million last year thanks to ticket sales at his Graceland mansion. No one remembers the last time Elizabeth Taylor performed without embarrassing herself, yet her estate earned $20 million last year from her fragrance line. It’s enough to make you think that dying is just some sort of extreme viral marketing stunt.

The good news, at least for Prince’s heirs, is that he was rich enough to survive his failure to plan. But are you? Failing to plan for your legacy can be the most expensive mistake you ever make, and could throw your heirs into years of struggle and grief. So call us to help make sure that doesn’t happen!


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Ed Lloyd and Associates, PLLC is an assessment master firm giving its administrations in bookkeeping and improvement of business. Built up in 1994, the overseeing executive of the firm is Ed Lloyd, who by and by comprehends the requirements of his customers in various circumstances. He holds a level of B.S in Accounting. Other than this, he has a permit as a Certified Public Accountant (CPA) from the North Carolina State Board of Examiners, Personal Financial Specialist (PFS) from the American Institute of Certified Public Accountants and Certified Tax Coach (CTC). Find more information on Ed Lloyd And Associates On YouTube.

The firm aptitude in planning charge systems to offer you some assistance with minimizing your assessment. The exceptionally capable experts at Ed Lloyd CPA make proactive arrangements for decreasing duty. They additionally help with bookkeeping administrations and readiness of assessment Get more information on Ed Lloyd & Associates, PLLC Charlotte, NC reviews on YellowPages.com

Contracting Ed Lloyd and Associates the best choice for your firm, Not only this, they additionally offer a sharp leave procedure for your business and redesign your retirement elective amazingly. The strange evaluation frameworks embraced by them have helped associations in Charlotte, NC and all through the United States, by bolster them in dealing with their working cost mindfully.

They are a Charlotte firm that offer arrangements for business holder everywhere throughout the US to build up their industry and cut their benefits charges. To build up your business, you require an arrangement. To minimize your charges, you require an arrangement. You require ideas and methodologies that leave more on your gauge. Lloyd and Associates has the assets to transform your arrangements into reality.


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Ed Lloyd CPA,Certified Tax Coach Charlotte Love his energy and his ability and longing to get in the trench to whole things. Begun working through Ed Lloyd as an advisor for business & people exceptionally happy to have his locally accessible on my group. Extremely suggested to all business owners. It is a common approach to contact a CPA when people require help with tax research and are upset with the absence of the proper advices to take a correct step. It is in such condition, that organization like Ed Lloyd & Associates PLLC: One of the best Financial Advisors in Charlotte comes to the save of people. As they have sufficient practical knowledge in dealing with different types of business exercises in the finest possible way, they serve as an ideal tax saving associate of their customers. They follow an elite strategy where they initial concentrate on tax planning, and then move to office administrations and lawful documentation, and finally they manage their clients’ tax research.

You need more than someone who will come in towards the end and just record the historical backdrop of what happen over the earlier year. You need somebody who represents great authority in accounting services and tax cut procedures, who has your extended term engages as a main concern and can help you make a plan to appropriately track your way of thinking, lessen your pay charges, dodge luxurious reviews, set up your appraisal and offer you with a comprehensive guide to build your riches.


 

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Ed Lloyd & Associates, PLLC

Running a business has become really difficult nowadays. There is so much competition that every company has to reduce their margins in order to attract customers. And there are so many essential expenses like marketing and maintenance that it becomes hard for the owner to save any money from the business. The only way out of this is to manage the finances well. Of course while running the company it is hard to put any time into finances. Thus, you should hire a financial advisor. There must be numerous good firms in your region, but you should not settle for anyone less than the best. It will take a little time to find the best one, but once you have you will not have to worry about it ever again. Or you can directly hire a well reputed firm like Ed Lloyd & Associates.

Ed Lloyd, the managing director of Ed Lloyd & Associates, is a certified public accountant. He got his degree of B.S. in accounting and worked in the field for a couple years to gain experience. He then established his own firm in 1994. Today his firm has several talented experts, just like him. If you are wondering whether hiring Ed Lloyd & Associates the best decision for your firm or not.

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You should read the latest tweets from Ed Lloyd CPA. That will tell you how good he is at what he does. And to get a firsthand experience of his expertise, you should set a meet and discuss your finance.


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Accounting & Tax Planning Services

Ed Lloyd & Associates is a firm specialized in providing accounting and tax planning services to the businesses, organizations and individuals. With years of experience in the field, the firm has become a number one choice for business owners to seek a quality accounting and tax planning services in the United States.

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The owner of the company- Ed Lloyd CPA is extremely efficient in his job and offers quality accounting and tax planning services. He has been handling the accounting and tax planning requirements of the organizations and business of the United State from last many years. Ed Lloyd CPA, PFS, CTC – Certified Tax Coach has immense knowledge about the taxation laws and can help you comply with them to ward off taxation trouble.

Trusting the professionals of Ed Lloyd & Associates is one of the wisest decisions that you are going to make in your life. They would not only shoulder off all your taxation hassles, but also manage and update your accounts on a regular basis so that you can get a clear picture of your accounts. Find Ed Lloyd And Associates, PLLC  –  Slideshare to see the latest slides and presentations.

Managing your accounts on a daily basis is crucial to keep a finger on the expenses made. As a business owner, it is important for you to know the exact financial position of your company so that you can take financial decisions regarding your company in an informed manner. If this is you are facing problems with, then contact the professionals of Ed Lloyd & Associates and they will be more than happy to assist you with their quality services.


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You spend a good fortune of money to establish a business. In order to ensure the sustainability and profitability of the business, it is imperative for you to hire the dedicated resources and make use of rightful strategies that can keep your business on the right track. The role of a professional accountant comes into the limelight when you want your official accounts and books to be held in an accurate and updated form.  Ed Lloyd CPA  is a leading firm that has been providing meticulous accounting and tax planning services in the Charlotte and around the surrounding areas from many years. Read More →

As a business owner, if you do not know the status your company on a monthly basis, then you may not be around at the end of the year. Every dollar counts for a business owner and it is extremely crucial for you to monitor overall business costs so that you can get a clear picture of your company.  Hiring a professional accountant and tax planner can solve your purpose, but you should not give your patronage to any firm whom you come across. Conduct proper research work and assess the capabilities and skills of the accountant before you finally trust the job with him.

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Ed Lloyd and Associates PLLC are one such trusted name to reckon with when you are in quest of a professional accounting and tax planning services in the United States.   They are knowledgeable enough to understand your business environment and come up with a great business and financial plan that can take your business to the next level.  The team Ed Lloyd and Associates enjoy a long standing reputation in the region. Positive reviews are a proof that they have been doing exceptionally well. The professional and dedicated accounting services offered by Ed Lloyd and Associates go a long way in analyzing the financial status of your business and avoiding losses in the long run.

Working with professional accountants can help you in a number of ways.  It will open doors to new avenues and opportunities and take your business to the next level.


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why Ed Lloyd & Associates is trusted by a large number of clients are given below:

Ed Lloyd & Associates, PLLCAccounting services are highly important for different types and sizes of organizations to obtain crisp data about their financial standing. Ed Lloyd & Associates is a dependable full-service accounting and tax planning assistance organization in Charlotte NC.

Save Time:

It offers high quality and error-free accounting services that go a long way in saving your valuable time for different business activities by presenting you with accurate and crisp financial data on time. The team is extremely proficient in screening all your business transactions and funds so as to provide you with a fair picture of your finances.

Expand Your Profitability:

The talented accountants of Ed Lloyd & Associates investigate all your past business information precisely to get a clear idea about your previous profits and losses. After that they suggest you feasible strategies to expand your benefits and reducing your losses.

Greatly improve your financial situation:

Top-notch services offered by them provide you with quick, correct and precise count of all business charges. Additionally, they also give appropriate reports of all your business exchanges.

Help to Grow Your Business:

Trained and experienced accountants and tax planners of Ed Lloyd & Associates inspect all your current business opponents. They also figure and fill all business charges on time while giving you suitable business growth ideas.

They keep themselves constantly updated with the most recent accounting and tax laws to provide customers with top-rate services.


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