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  • Avoiding the kiddie tax is more important than ever

    May / June 2018
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: Under the Tax Cuts and Jobs Act (TCJA), the kiddie tax has become harsher for many families: Now, a child’s unearned income is taxed according to the tax brackets for trusts and estates, under which the highest tax rates kick in at far lower income levels. For example, the highest tax rate — 37% — applies when a child’s taxable unearned income tops $12,500. This article explains the kiddie tax and how the TCJA affects it. Two charts display ordinary-income and long-term capital gains tax rates.

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  • Quick! Act fast when sexual harassment is alleged

    January / February 2018
    Newsletter: Employment Law Briefing

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: When a retailer learned that one of its store managers had sexually harassed three employees, it terminated the manager. But did it act quickly enough to avoid violating the employees’ rights under Title VII? This article looks at the facts of the case and the Sixth Circuit’s ruling. A sidebar describes a similar sexual harassment case with a different outcome. EEOC v. AutoZone, Inc., No. 16-6387, June 9, 2017 (6th Cir.) Dillon v. Ned Mgmt., No. 13-cv-2622, February 2, 2015 (E.D.N.Y.)

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  • 5 retirement account tax traps to avoid

    March / April 2016
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: For many taxpayers, a large portion of their wealth is set aside in individual retirement accounts (IRAs) or qualified retirement plans, such as 401(k) or profit-sharing plans. These accounts can provide substantial tax advantages, but they can also become traps for the unwary. This article offers five common mistakes to avoid, such as missing required minimum distributions (RMDs) and failing to take them from an inherited IRA or qualified plan. A sidebar discusses when and how much to take in RMDs.

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  • Valuing LLC interests: How to lose in Tax Court

    May / June 2014
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: After the IRS determined that an estate had underreported the value of its interest in a limited liability company (LLC), it assessed an estate tax deficiency. The estate responded with a new appraisal, prepared by another professional appraiser, which valued the LLC interest at a figure that was lower than what was reported on the estate tax return. The estate sought a refund. While the Tax Court seemed sympathetic to part of the estate’s argument, it ultimately refused to admit the second appraisal into evidence at least partly because the second appraiser wasn’t available to testify in support. This article emphasizes the importance of having a valuation supported by a qualified valuation expert. A sidebar discusses how LLCs and family limited partnerships (FLPs) can save taxes.

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  • Patent eligibility for software – Fractured Federal Circuit provides little clarity

    Year End 2013
    Newsletter: Ideas on Intellectual Property Law

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: Many have understandably been befuddled by the sometimes conflicting recent court decisions regarding the patent eligibility of computer-implemented inventions. Unfortunately, the 135-page decision from the U.S. Court of Appeals for the Federal Circuit in CLS Bank Int’l v. Alice Corp. Pty. Ltd. provides little clarity. This article discusses the divided opinions among the 10 judges, who produced six opinions as well as conflicting tests for patent eligibility. Given this uncertainty, a sidebar suggests how it might be best to proceed when drafting patent claims. CLS Bank Int’l v. Alice Corp. Pty. Ltd., 2011-1301, May 10, 2013 (Fed. Cir.)

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  • Boltar illustrates the dangers of expert advocacy

    March / April 2012
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: In litigation, it’s critical for valuators and other expert witnesses to be objective, unbiased and reasonable. Experts who act as advocates for a party — and attorneys who urge them to do so — are asking for trouble. This article looks at a case in which a taxpayer’s experts greatly overvalued their client’s property, and the specific reasons why the Tax Court chastised them. A sidebar offers ways to ensure a valuation expert’s objectivity. Citations: Boltar, LLC v. Commissioner, No. 25954-08, April 5, 2011 (U.S. Tax Court)

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  • Plug the drain – How to detect financial statement fraud

    November / December 2009
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 937

    Abstract: Sarbanes-Oxley notwithstanding, the Association of Certified Fraud Examiners (ACFE) states that U.S. organizations continue to lose about 7% of their annual revenues to fraudsters. It also has found that financial statement fraud is the costliest form. This article looks at common financial statement schemes, and points out red flags in both the documents and in employee behavior that might indicate fraud. A sidebar points to several financial ratios and indicators that signal potential financial statement fraud.

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