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SMALL BUSINESS, BIG STAKES Legal Refreshers for Thriving Trades
There’s more to March than the official start of spring. On March 29, America celebrates National Mom and Pop Business Owners Day. Although it’s not a holiday that closes banks and shuts down mail delivery, it’s still a fantastic way to honor the independent small-business owners who have always provided the heartbeat of our economy. What exactly is a mom-and-pop business in 2025? Well, it could be almost anything — from the small boutique shop or carwash down the street to an Etsy store or Airbnb. It’s fascinating to witness the growth of industries practically unheard of a decade ago. I’ve always respected mom-and-pop business owners, and I’d love to see every one of them succeed. Over the years, I’ve encountered many small businesses that faced difficulties because they made easily avoidable mistakes. Many people begin conducting business without first forming an appropriate legal entity. For example, someone may set up a sole proprietorship in their name alone and not create an LLC, a corporation, or a partnership to create any credit protection and corporate veil in the event of an accident, a slip and fall, or a lawsuit. In other cases, they may have their CPA set them up as an LLC, or even do it themselves, by going to the Division of Corporations website at Sunbiz.org .
This practice is problematic for two reasons. First, it could be argued that the CPA performs the unlicensed practice of law by fulfilling this task for a client. Second, it gives clients a false sense of security that all they need to do is form an entity with the state. In reality, there’s much more to running a small business than forming an entity and paying income tax. Running a compliant entity entails issuing shares, having a corporate kit, and maintaining detailed minutes of your annual shareholder and board of directors meetings — all formalities demonstrating the business is valid and has a corporate veil in place. Yes, these requirements apply to mom- and-pop businesses as much as they do to larger corporations.
In addition to meeting the general requirements of small-business management, it is essential to follow the moving target of national legislation. At the time of this writing, we were awaiting an update on the current status of the Corporate Transparency Act, which is on hold as its enforcement continues to be tied up in litigation. The Act was created to add new regulations and disclosure requirements to businesses to curb tax fraud, the funding of terrorism, and money laundering. These regulations come from a good place and aim to help reduce serious crimes, but they can potentially affect small businesses if allowed to move forward. With so many things on the national level changing almost daily, it is often difficult to predict when and how new regulations will impact mom-and-pop operators. Rest assured that we follow the Corporate Transparency Act’s progress closely and consistently compile the most current information to share with our clients. We are always available to offer direction and solutions to any of the matters discussed in this article, including potential ways to address the absence of annual minutes at your business. Small businesses matter, and we’re committed to helping them remain prosperous through these evolving and challenging times.
–Michael Hill
1 (239) 265-9779
MARCH 2025
FORBIDDEN FRUIT When Pilfering a Pineapple Was Britain’s Juiciest Crime
Most criminals sentenced to seven years have committed a serious crime, such as armed robbery or multiple burglaries. In 1807, however, a British man named John Godding was sentenced to seven years in an Australian penal colony for an entirely different offense: stealing seven pineapples. The prickly-skinned golden fruit was so prized in 16th, 17th, and 18th- century Britain that pineapples commanded exorbitant prices and were even available to rent to prosperous Brits who featured them as centerpieces at parties. The pineapple craze drove prices for the fruit so high that they became a prized target among petty thieves. Pineapples are native to the Caribbean and South America, and Christopher Columbus is credited with introducing them to Europe after finding them in Guadeloupe in 1493. The fruit quickly became de rigueur among the wealthy as an exotic delicacy. Importing pineapples was difficult, however, because they usually spoiled en route. In the 1770s, pineapples were selling in England for the equivalent of $17,000–$23,000 apiece in 2025 U.S. dollars. Europeans went wild over the sweet, fragrant fruit, which became a symbol of warmth and hospitality incorporated into Renaissance
architecture. Kings and queens clamored for pineapple, including Catherine the Great and King Ferdinand of Spain. King Charles II of England even commissioned a portrait of himself being presented with one. Initial attempts to cultivate pineapples in Britain’s cool climate failed. Transplanting and propagating plant stock and nurturing young plants to maturity was a painstaking process made more difficult by the fruit’s long maturation cycle, which requires as long as 2 1/2 years or more from planting to mature pineapples. British farmers tried for centuries before finally succeeding at producing pineapples in “hot houses” or “pineries” heated by furnaces placed within glass-walled enclosures. Advancements in global trade eventually made pineapples more readily available in Europe. Had the unfortunate Mr. Godding, the pineapple thief, committed his crime in modern times, he would probably have gotten off with a mere $100 fine.
S u n n y D a y s
WARM WEATHER TIPS FOR SENIORS
Although we typically don’t experience winters as harshly as our neighbors up north, springtime in Florida brings new opportunities for seniors to experience more fun in the sun. Before you gear up to enjoy the months ahead, read these brief tips and reminders for staying safe as you get the most out of this time of year. Risky Realities According to the National Institute on Aging, seniors with cardiovascular, kidney, or lung diseases or who are on multiple medications in general are at higher risk for heat-related illnesses. The Institute recommends that people 65 and older hydrate regularly with water, fruit or vegetable juices, or beverages containing electrolytes. Additionally, they should reduce or eliminate their consumption 2 floridaestateplanning.com
of caffeine and alcohol on warm or hot days and apply sunscreen that is SPF 15 or higher before going outdoors. Before spending extended periods outside, consult your physician to determine whether any of your medications increase the likelihood of sunburn, overheating, or other weather- related health concerns. A Caregiver Compass As temperatures rise, so do the responsibilities of caregivers, who need to stay mindful of how the elements may affect the individuals they assist. In addition to recommending that caregivers visit those in their care at least twice daily in warm or hot weather, the Centers for Disease Control and Prevention suggests considering four critical questions:
1. Are they drinking enough water? 2. Do they know how to keep cool? 3. Do they show signs of heat stress? 4. Do they have access to air conditioning? The last question on this list is essential, as many seniors are often tempted to minimize their air conditioning to avoid increasing their utility costs. If you or a loved one struggles to afford additional weather- related expenses, the Low-Income Home Energy Assistance Program (LIHEAP) may provide financial assistance. For information on services available through Florida’s LIHEAP, please call 1-866-674-6327.
‘Too Young’ May Be Too Late The Dangers of Delayed Estate Plans
As John Lennon once sang, “Life is what happens to you while you’re busy making other plans.” As organized and conscientious as we try to be in our daily lives, some things will always be beyond our control — including time. Unfortunately, our efforts to beat the clock often cause us to overlook details that could help protect ourselves and our families. Estate planning is a critical part of life that frequently gets tossed in the “I’ll think about it tomorrow” pile. However, your busy schedule is precisely why you must focus on your legacy today — regardless of your age and health. Age, Ailments, and Assets If you consider yourself too young to think about creating an estate plan, it may interest you that the National Institutes of Health defines “early middle age” as ages 34–44. Additionally, a 2024 report by the Centers for Disease Control and Prevention noted that, on average, U.S. women become mothers by age 27. While the “early middle age” group is commonly viewed as being in peak health, research by the American College of Cardiology suggests that instances of heart attacks among people under 40 are on the rise. Estate planning should no longer be viewed as something to address as you near retirement age — it should be considered an essential task to complete as soon as you become a parent, own property,
or acquire other assets that would typically transfer to beneficiaries upon your passing. The Speed of Security If it has been some time since you’ve reviewed and updated your estate plan — or if you’ve yet to start one — consider doing so as soon as possible. We have known clients who went a
decade or more without updating their legacy plans or neglected to review them despite sudden health concerns — and experienced the frustrating consequences of their
inaction. Please contact us today before the unexpected happens.
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TAKE A BREAK!
INGREDIENTS
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1 (8-oz) block cream cheese, softened 1/3 cup granulated sugar
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1 cup whole milk 1 prepared graham cracker crust 3 bananas, sliced 20 Nilla Wafers
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1 cup heavy cream 1 tsp vanilla extract
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1 (3.4-oz) package instant vanilla pudding mix
Whipped topping and crushed Nilla Wafers, for garnish
DIRECTIONS 1. In a large bowl of a standing mixer, add softened cream cheese and beat until fluffy and free of clumps. 2. Add sugar and beat until combined, then add heavy cream and vanilla extract and beat until medium-stiff peaks form. Set aside. 3. In a medium bowl, whisk together milk and pudding mix and refrigerate for 3 minutes until thickened. Pour pudding mixture into cream cheese mixture and fold until combined. 4. Into the graham cracker crust, pour half the filling and spread evenly. Add a single layer of sliced bananas and Nilla Wafers, then pour remaining filling over and smooth the top. 5. Refrigerate until firm, at least 6 hours, or overnight. Top slices with whipped cream, crushed Nilla Wafers, and any additional banana slices as desired.
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(239) 265-9779
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INSIDE this issue
SUDOKU ANSWER
Mom-and-Pop Money Moves PAGE 1 Pineapple Theft Was Once Britain’s Ultimate Crime PAGE 2 Strength in Sunshine PAGE 2 Prioritize Today, Protect Tomorrow PAGE 3 Banana Pudding Cheesecake Mashup PAGE 3 A Chef’s Truest Triumph PAGE 4
The best compliments we receive are your referrals. When you refer us to your loved ones, we do all we can to exceed expectations.
i c h e
THE MARK OF CULINARY MASTERY
4 floridaestateplanning.com As its name implies, the star system was the brainchild of the Michelin tire For culinary creators worldwide, earning a Michelin star is like winning an Olympic gold medal. Chefs with excellent kitchen skills and outstanding customer service receive the honor. Late French chef Joël Robuchon holds the world record with 31, while TV star Gordon Ramsay rose to international fame and marked his hot-tempered journey to TV stardom by achieving 17 stars for his many restaurants. But how did this legendary distinction in the cooking world begin? If you’ve ever had the pleasure of dining at a Michelin-honored establishment, you have the automotive industry to thank.
company. To help inspire consumers to drive more — and increase the demand for tire purchases — it began publishing “The Michelin Guide” in France in 1900. The publication included maps, tips on tire care, and recommendations for hotels and restaurants along popular French travel routes. As the guide grew in popularity, the company expanded its content to include anonymous restaurant reviews. In 1926, it introduced “the Michelin star” to recognize the eateries it considered the best in the country. Today, the bestselling publication reviews more than 40,000 restaurants across three continents. Only 146 restaurants worldwide — or less than 1% of those rated by the guide — have received three Michelin stars.
In Ramsay’s mind, receiving that rare level remains the ultimate benchmark in his profession. As he stated in a 2024 article in Parade, “As a soccer player, I wanted an FA Cup winner’s medal. As an actor, you want an Oscar. As a chef, it’s three Michelin stars; there’s no greater than that.”
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