563

Showing all 12 results

  • Court rejects value based on improbable subsequent events

    July / August 2020
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: In a recent gift tax case, the U.S. Tax Court rejected the IRS’s valuation of a nonvoting stake in a limited liability company (LLC), because it was based on actions conjectured to occur after the gift was made that weren’t reasonably probable. This article explains why the court accepted the taxpayer’s value, which included discounts for lack of control and marketability. Grieve v. Commissioner, TC Memo 2020-28 (March 2, 2020)

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  • Know the risks of the secondary market mortgage business

    Fall 2019
    Newsletter: Community Banking Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: In the past few years, community banks have been turning more frequently to the strategy of selling the mortgage loans they’ve originated to the secondary market. This article points out that banks that don’t have a good grasp of the risks and rewards of this approach may end up losing out. It notes that, when entering into loan sale agreements, it’s important for community banks to pay close attention to the details — including all representations and warranties — to ensure the outcome is positive.

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  • Your responsibility when hiring household help

    November / December 2018
    Newsletter: Planning for Prosperity / Wealth Management Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: Hiring household help involves important tax responsibilities. As this article details, proper filing and reporting by employers enables workers to build an employment record and gain access to Social Security, Medicare and other benefits. And it helps protect employers from potentially expensive and time-consuming legal trouble.

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  • AMT awareness: Be ready for anything

    September 2016
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: When it comes to tax planning, everyone needs to be ready for anything. For example, many taxpayers may not know whether they’re likely to be subject to the AMT. This article explains the purpose of this alternative tax system and offers some steps that may help minimize liability. A sidebar looks at factors that may trigger the AMT.

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  • IRS issues new guidance for attorneys’ fees and costs in IRS proceedings

    July / August 2016
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: The IRS recently released new guidance providing for awards to taxpayers for their reasonable administrative and litigation costs if they substantially prevail in proceedings involving the agency. In addition, the IRS offers more information detailing processes specific to pro bono representation. This article lists the provisions most likely to be of interest to attorneys and their clients and notes the dates these regulations become effective.

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  • Avoid costly disputes with a buy-sell agreement

    January / February 2016
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: A buy-sell agreement can help avoid disputes over ownership rights, control and the value of a company when an owner leaves the business. Whether the agreement is triggered voluntarily or involuntarily, owners need to protect their financial interests with an agreement that’s legally enforceable and comprehensive. This article points out that it’s important to define buyout terms, avoid ambiguous or outdated valuation formulas and specify the financial data to be used in a buy-sell agreement.

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  • Do you have a succession plan for your vacation home?

    March / April 2011
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: Few estate planning issues are as emotionally charged as the disposition of the family home. And emotions may run even higher with vacation homes, which often evoke even more fond memories. So it’s important to address one’s vacation home in an estate plan. This article discusses considerations that should be addressed in transferring a home. Or, for those who are not yet ready to give up ownership, it explores other strategies, such as a qualified personal residence trust (QPRT) or qualified terminable interest property (QTIP) trust.

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  • The pros of being proactive with the IRS

    Winter 2010
    Newsletter: Nonprofit Observer

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: As long as an IRS examiner isn’t knocking at the door asking specific questions, many nonprofit leaders don’t volunteer information. In some cases, however, it could be to their advantage to do just that. If, for example, a mistake is uncovered in a filing, taking a proactive stance with the IRS can help minimize potential hassles and penalties. It’s important to get professional advice, learn the facts, and keep a sense of perspective. The IRS is likely to be more amenable to finding a solution for nonprofits that approach it voluntarily.

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  • Employment discrimination claims – What’s in it for the claimant

    March / April 2009
    Newsletter: Advocate's Edge / Litigation Support

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: With the economy in a recession and unemployment on the rise, the number of employment discrimination claims is likely to continue to increase. This article discusses the general remedies available to successful claimants regardless of whether the discrimination was caused by intentional acts. It also talks about the variables involved in determining compensatory and punitive damages, including evidence of actual harm to the claimant and malice on the part of the employer.

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  • Avoid intrafamily disputes with a family mission statement

    Year End 2008
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: No matter how hard a person works to ensure that his or her estate plan treats all family members fairly, hurt feelings and disputes can result if heirs don’t understand his or her motives. The idea behind a family mission statement is for the family to agree on a basic set of guiding values and principles and to memorialize them in a written document. This document can help avert intrafamily disputes after a loved one dies. This article discusses what a family mission statement should cover.

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  • 5 ways to strengthen your surety relationship

    March / April 2008
    Newsletter: Contractor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: Call it a “necessary evil” or “the cost of doing business.” However one looks at it, for most contractors, bonding is a fact of life. One way to keep your bonding capacity strong is to maintain a strong relationship with your surety. This article provides five ways to do just that.

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  • Crackdown on illegal hiring looms

    January / February 2008
    Newsletter: Contractor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 563

    Abstract: U.S. Bureau of Labor Statistics and Census Bureau data show that foreign-born workers are critical to the construction industry. Problem is, contractors often can’t — or don’t — verify that their employees are eligible to work in the United States. And, as this article warns, Uncle Sam is starting to take more notice.

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