Successful Female Entrepreneur
Tatum Sherman is an entrepreneurial wunderkind who has been able to establish a booming business that continues to grow at an astounding rate. Her company, Resource Referral, is a staffing agency that has taken the state of New Jersey by storm over the last few years. She had an impressive educational underpinning to draw from when she started her business, but she has a very poignant message for people who look toward her for inspiration. Tatum Sherman always emphasizes the fact that education is an ongoing process. Once you get your degree, or your graduate degree, the work is not done.
People who stand still, sitting on past educational laurels, often wind up stuck in dead-end positions. This has always been true, but during our current era, technology is advancing at a breakneck pace. These innovations find their way into modern workplaces, and you will be left behind if you don't keep up-to-date at all times. Indeed, a less experienced employee who is current on these emerging technologies may be a more valuable asset than a grizzled veteran who is behind the times.
Tatum Sherman also believes in the value of experiential learning when it comes to interpersonal relationships in the workplace. No one is perfect, and mistakes will be made. The key is to learn from your mistakes as you make an effort to get along with everyone and contribute to positive team morale. If you are always open to learning opportunities that present themselves, you should be able to enjoy a career trajectory that is always sloping upward.
Tatum Sherman is a business woman, and she is the head of her own company, Resource Referral, which is a New Jersey-based staffing concern. If you want to follow in her footsteps and establish your own company, you have to consider the tax and asset protection ramifications. There are various different business structures that can be utilized, and you can explore your options if you speak with an attorney or a fully qualified business accountant. One possibility is the structure called a limited liability company.
When it comes to the tax man, a limited liability company provides something called flow-through taxation. You can claim profits and losses from your business on your own personal tax returns, and this streamlines your tax situation. A successful entrepreneur like Tatum Sherman is invariably going to accumulate a significant store of wealth. We live in a litigious society, so asset protection is a source of concern for many business owners. If you were to establish a limited liability company, your own personal assets would be protected from the actions of your company.
Tatum Sherman may inspire you to great heights, and if you become a successful entrepreneur in your own right, you may want to consider a limited liability company as a relatively simple but highly effective business structure. However, there are other possibilities to consider, and incorporation is one of them. If you discuss your situation with an attorney or a business accountant, you will become apprised of your options, and you will be in a position to make fully informed decisions.
Tatum Sherman has been very successful. Her financial rewards have been increasing exponentially as her staffing business, Resource Referral, rises to greater and greater heights. The accumulation of wealth is obviously a very good thing, and you pay a lot of taxes when you are financially successful. At some point, you have to start to be concerned about federal and state level estate taxes. In New Jersey, there is a state-level estate tax, and it is applicable on transfers that exceed $675,000.
As a mother of young children, estate planning is something that is very important to a successful woman like Tatum Sherman, and estate tax planning is part of this equation. There are steps that can be taken to mitigate estate tax exposure, on the state level or the federal level. Fortunately, most people are not exposed to the federal estate tax, because you can transfer over $5 million before this tax would be applicable.
There is also a state level inheritance tax in New Jersey. This tax can be applied on smaller transfers depending on the relationship that the decedent has with the person who is receiving an inheritance. As a forward thinking person, Tatum Sherman has done the right things to protect her wealth for the benefit of her children. Even though she is still a young adult, you never know what the future holds, and an ounce of prevention is worth a pound of cure. If you are currently unprepared, you may want to follow Tatum Sherman's lead and discuss your legacy with an estate planning attorney.