#LegalBytes: The Official Podcast of Cummings & Cummings Law

In this presentation, attorney and CPA Chad D. Cummings breaks down the massive tax savings available to high-income earners and business owners who move to Florida. According to Barron’s (April 20, 2026), a New Yorker earning $1 million per year saves $104,600 annually in state income taxes by relocating to Florida—that’s $1.046 million over 10 years. A Californian in the same income bracket saves $130,000 per year. These savings don’t stop at income taxes—Florida also has no estate tax or inheritance tax, potentially saving hundreds of thousands or even millions more at death. Chad explains how these tax advantages compound for business owners with pass-through entities and why simply moving personally while leaving the company behind is only half the solution. He then shows why redomestication is the cleanest, most tax-efficient way to move your existing LLC, corporation, or partnership to Florida without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you’re a high-income business owner tired of losing six and seven figures to high state taxes, this presentation gives you the numbers and the practical legal path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings reveals a surprising and costly problem: the most popular AI chatbots—ChatGPT, Gemini, and Perplexity—consistently give dangerous and incorrect advice when asked how to move an LLC or corporation from one state to another. They recommend dissolving the existing company and forming a new one, registering as a foreign entity, or performing a merger — approaches that can trigger unnecessary taxes, destroy your FEIN and credit history, create dual-state compliance burdens, expose owners to personal liability, and in some cases permanently terminate the company. Chad explains exactly why each of these AI-recommended methods is flawed or outright harmful, and why redomestication is the correct, tax-efficient, and least disruptive way to transfer your existing LLC, corporation, or partnership to a new state without dissolving it, without forming a new entity, without losing your FEIN, and without triggering federal income tax. If you’re a business owner thinking about relocating your company—or if you’ve already asked an AI for advice on this topic—this presentation will show you the real risks and the right solution. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings reveals the dramatic impact of state taxes on homeownership and wealth building. According to a March 2026 Visual Capitalist analysis, it takes the average household in California 25.1 years to save for a 10% down payment on a median-priced home, compared to just 10.3 years in Texas. New York sits at 23.1 years, while the national average is 14.4 years. Chad explains how high state income taxes reduce discretionary income, slow savings rates, and make it significantly harder for families—especially small business owners with pass-through entities—to build wealth and achieve homeownership. He then shows why redomestication is often the most efficient and tax-efficient solution, allowing business owners to move their existing LLC, corporation, or partnership to a lower-tax state without dissolving the company, without forming a new entity, without losing their FEIN, and without triggering federal taxes. If you're a business owner in a high-tax, high-cost state struggling with long-term affordability, this presentation gives you the clear data and the practical legal path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down the stark divide highlighted by The Wall Street Journal in its April 14, 2026 editorial "The Growing State Tax and Jobs Divide." Since January 2020, high-tax states like California (-1.2%), New York (-1.3%), Massachusetts (-1.4%), and Oregon (-3%) have experienced net losses in private-sector jobs, while low-tax states have seen strong gains — Texas +10%, Florida +8.5%, North Carolina +7.9%, and Arizona +7.3%. The Journal makes clear that high individual income tax rates are hitting small businesses especially hard because most operate as pass-through entities (LLCs, S corps, and partnerships), where business income is taxed at the owner’s personal rate. Chad explains why redomestication is the smartest and most efficient way for business owners to move their existing company from a high-tax state to a low-tax state without dissolving the entity, without forming a new company, without losing their FEIN, and without triggering federal taxes. Avoid the costly mistakes of dissolution, foreign entity registration, or mergers. If you're a small or mid-sized business owner in a high-tax state, this presentation shows you how to protect your company and take advantage of the growing economic opportunity in low-tax states. Learn more: https://www.cummings.law/redomestication/

In this presentation, I will provide you with some of the most common 401(k) governance issues overlooked by plan committee members who are ERISA fiduciaries. I will explain the ERISA requirements of plan fiduciaries, as well as how these committee members may ensure they proactively review fee benchmarks and Investment Policy Statements on a regular basis while ensuring all committee reviews are documented with accurate notes.  I will also address the fiduciary’s role in selection and regular review of service providers.  Finally I will address the committee’s fiduciary role in regular review of how well participants understand their plan options and how to ensure oversight of cybersecurity risk. Learn more: https://www.cummings.law

In this presentation, I will provide you with an explanation how owners of small organizations can maximize their tax savings while also significantly contributing to their employees’ retirement savings with the overview of stacking a cash balance plan on top of a 401(k) Plan.  I will also discuss why offering only a 401(k) Plan is not sufficient for an owner’s retirement accumulation in a tax-favored retirement plan as well as provide examples of how integrating the two plans positively affect owners’ retirement accumulations.  Finally, I will explain why the age of owners and staff employees matter and explain which types of companies may not be a good fit for cash balance plans. Learn more: https://www.cummings.law/cb/

In this presentation, I will provide you with an overview of the the Trump Savings Accounts including who is eligible, the contribution limit which can be contributed annually as well as the pilot program for the federal seed contribution for newborns born between 2025 through 2028. I will also discuss the process for parents to establish the Trump Savings Account for each eligible child and then compare the Trump Savings Account with a Section 529 Education Savings Plan. I will summarize the key elements parents should consider when decided whether to establish a Trump Savings Account for eligible children. Learn more: https://www.cummings.law

In this presentation, I will provide you with overview of important legal considerations for an organization preparing an incentive compensation plan.  I will also discuss detailed Fair Labor Standards Act regulations regarding payment of incentive compensation to non-exempt (hourly paid) employees along with overtime recalculation requirements for nondiscretionary bonus payments.   Finally, I will provide an overview of additional multi-state regulations surrounding incentive plans.  Learn more: https://www.cummings.law

In this presentation, I will provide you with an overview of the federal requirements of a Qualified Domestic Relations Order (QDRO).  I will also share with a list of common hidden risks of a QDRO including the need for the document to address timing of the alternate payee distribution, whether the post-division alternate payee award should include investment, discussion of account award in the event of the death of either the participant or the alternate payee, as well as a deep dive on pension plan specific issues. Learn more: https://www.cummings.law/qdro/

In this presentation, attorney and CPA Chad D. Cummings examines the dramatic outflow of wealth from Massachusetts following the enactment of the 4% "millionaires tax" surtax. According to IRS migration data analyzed by the Pioneer Institute, $4.18 billion in adjusted gross income left the state in a single year—more than the previous year despite fewer people departing. The outmigrants carried exceptionally high average incomes, with the largest losses coming from high-earning professionals and business owners in the 26–35 and pre-retirement age groups. Chad explains how this "millionaires tax" has raised the effective top rate to 9% on income over $1 million, adding $40,000 per year in state taxes on a $2 million pass-through business income stream. He breaks down why redomestication is the smartest and cleanest way for Massachusetts business owners to move their existing LLC, corporation, or partnership to a no-income-tax state like Florida or Texas without dissolving the company, without forming a new entity, without losing their FEIN, and without triggering federal taxes. Avoid the pitfalls of dissolution or foreign entity registration. If you're a Massachusetts business owner concerned about rising taxes and lost economic opportunity, this presentation shows you exactly how to protect your company and your income. Learn more: https://www.cummings.law/redomestication/