Maintaining Liability Protection from Your Business

We want to help you protect your assets and reduce your potential liability as a business owner.

As an owner of a business entity you receive two general benefits above what a sole proprietor receives: (i) tax-strategy opportunities and (ii) some measure of liability protection. This blog regards (ii), your liability protection, and how to preserve it.

To preserve the liability protection offered by the business entity, it is essential to maintain the distinction between the entity and yourself personally. Lawsuits against businesses often involve a challenge to the distinction between the owner and the entity, putting the owner’s assets at risk.

One aspect of maintaining this distinction is to show a legal-document trail of the entity. You must include in your corporate record book the formation documents and—of present interest—the minutes of the annual meeting of the board of directors (or members, if an LLC).

Historically, Thrive Business Group has provided an annual minute service for some of our business clients. We are discontinuing this service and are now endorsing a local attorney. She is better able to serve you in these legal documents than we are, and she does so very cost effectively (comparable to our fees).

We at Thrive Business Group recommend Emily Rose Mowrey, Attorney at Next Generation Legal Services, to satisfy your minute-service needs. (P.S.—she also provides registered agent service.) I encourage you to contact Emily directly to set up your minutes service:

Emily Rose Mowrey
(360) 685-0145
emily “at”

Feel free to contact John Rosenbaum (john “at” if you have questions regarding maintaining entity distinction or about Emily. And definitely contact us if any aspect of maintaining entity distinction and protecting your assets seems new to you!

Your life. Your business. In that order.

The Affordable Care Act and Your Taxes

Love it or hate it, the Affordable Care Act (aka “Obamacare”) will likely affect your taxes for 2014.

Through Obamacare the government offers a premium tax credit to help subsidize individual health care coverage. If you have insurance through the Health Insurance Marketplace (aka the Exchange) then your insurance company may already be receiving this subsidy on your behalf. (If you are paying the full monthly premium then you are not receiving this credit in advance.)

It’s important to report changes in your circumstances to the Exchange to help you avoid getting too much or too little advance payment of the premium tax credit. Getting too much means you may owe additional money or it may eat just eat into your tax refund. Getting too little could mean missing out on premium assistance to reduce your monthly premiums. (Worst case scenario: your income is too high to qualify for the credit, in which case every penny will have to be paid back come April 15.)

Having just passed the middle of the year, now is a great time to review your circumstances and see if there are any changes worth reporting. Such changes include:

  • A change in income,
  • A change in filing status (e.g. marriage),
  • Increase in family size (e.g. having a baby),
  • Getting health insurance through your employer,
  • Or even moving.

Changes in circumstances also may qualify you for a special enrollment period to change or get insurance through the Marketplace. In most cases, if you qualify for the special enrollment period you will have sixty days to enroll following the change in circumstances.

Changes can be made through the Washington-specific Exchange, found at

If you have any questions regarding the premium tax credit or how the Affordable Care Act may affect your tax situation, please feel free to email me, John Rosenbaum (john “at”, or check out

Crafting Your Business: from Vision to Results

Crafting Your Business: From Vision to Results

“He who fails to plan is planning to fail.” – Winston Churchill

“Vision without Action is a Dream; Action without Vision is a Nightmare.” – Japanese Proverb


This workshop is for you if you are…

  • Committed to starting a new business, but don’t know where to start.
  • Already in business and ready to grow to the next level.
  • Ready to engage your team in crafting a shared vision & plan for success.


In this 4-part workshop, I will show you how to:

  • Lay Your Foundation:
    • Clarify Your Vision
    • Change Your Thinking for Success
    • Structure Your Entity & Tax Strategy
  • Map Out Your Process:
    • Build Multiple Streams of Income
    • Set Up Systems for Success
    • Create Your Revenue Plan
    • Bring in Business with Your Marketing Plan
    • Make Money with Your Sales Plan
  • Lead Your Team To Success
    • Focus on the Highest & Best Use of Your Time
    • Build & Empower Your Team
    • Implement Your Action Plan with Accountability

All sessions 5:30pm – 9:30pm

April  29, 2014 Vision & Values
May 5, 2014      Multiple Streams of Income
May 13, 2014   Marketing & Sales Bootcamp
May 20, 2014  Taking Action

Register Now

$397 per person; 50% discount for each additional team working on the same business.  

Use the Paypal button below to Register:

Please Choose Your Registration

Siobhan Murphy holds a Master of Business Administration (MBA) from Western Washington University; is a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and a Certified Financial Manager (CFM).  She has applied her accounting and business experience to not-for-profit, public accounting, small business, home-based business, service and retail industries.  Having grown up in an entrepreneurial family, Siobhan holds a strong passion for supporting small business owners.  She enjoys living an entrepreneurial lifestyle as a 10-year serial entrepreneur.

About Us

Thrive Business Group is an elite team of financial support professionals committed to helping our clients’ thrive – in business and in life. Our team members truly understand the challenges and rewards of living an entrepreneurial lifestyle – we have personal experience running businesses in the accounting, financial services, online marketing, real estate, home-based direct sales, and retail industries.

A savvy business owner knows the different between activities that generate revenue and those that don’t. Our team handles the bookkeeping, accounting, taxation, and financial reporting functions so our clients can focus on the highest and best use of their time leading their ventures.

We are honored by the trust our clients place in us to help them create accurate financial reports, pay the minimum legal and ethical amount in tax, oversee their financial business operations, and let go of the accounting details in their lives to focus on what matters most.

Thrive Business Group is led by B. Siobhan Q. Murphy. Siobhan brings 12 years of accounting experience and entrepreneurship to her role as Consulting Director. She holds a Master of Business Administration (MBA) from Western Washington University; is a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and a Certified Financial Manager (CFM). She has taught college-level accounting courses at Charter College, and served as the Finance Director, Treasurer, President, and Director at a variety of local non-profit organizations.

She has applied her accounting and business experience to a wide range of industries including not-for-profit, public accounting, privately held small business, home-based business, and individuals. She has served businesses from start-up to millions of dollars in annual sales with specialization in businesses from $0 – $500,000 in annual profit.

Siobhan loves to serve her clients with a cheerful smile and an infusion of fun. She’s been known to say, “If we’re not having fun, then we need to do something different!” She is passionate about education so that self-employed individuals and small business owners are empowered with a deeper understanding of the financial workings of their businesses, which results in more effectively leadership of their businesses to support their lives.

At Thrive Business Group, we believe it’s about Your Life. Your Business. In That Order.