For many years, the IRS has looked the other way when employers have provided their employees with free meals. A new Technical Advice Memorandum (“TAM”) suggests otherwise, in ultimately holding that employer-provided meals were not excludible from income except in limited situations. In 2014, the Department of Treasury released its priority guidance plan, which raised the …
Who Decides Who Gets to Live in the House While We Go Through the Divorce?
Papers are filed, the dissolution action is pending before the Court, and you may think you are on your way to living separate and apart from the other person for the rest of your lives. Don’t start changing the keys on the door too fast. Neither party is required to leave the marital residence during …
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Estate and Trust Planning Opportunity – The 65 Day Rule
It is not is too late to plan for 2018. Under Section 663(b) of the Code, the “65 Day Rule” provides an opportunity for estates and certain trusts to elect to treat distributions made within 65 days of year-end as if made on the last day of the prior tax year and thus to carry-out …
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What to Expect When Mediating Your Divorce Case
Many times the thought of going to court to resolve issues pending in your divorce is frightening. Accordingly, it makes sense, prior to going to court, to at least attempt to mediate your dissolution matter and resolve as many issues as possible. However, the thought of meeting with your spouse and the mediator in one …
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New and Valuable Ways to Reduce Capital Gains Tax
If property is held by someone at their death, the “basis” in the property used by the seller to determine taxable gain on its sale is re-set to the fair market value at the date of death. Income and capital gain tax rates have increased over the last 10 years, and during that time the …
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How Can I Change Parenting Time Post-Divorce?
For most people, once their divorce is final they are done with the divorce process and the legal aspects of their case. But this may not be true for everyone. When there are minor children involved, there might be unanticipated behaviors or unforeseen circumstances that warrant a change in custody. This may include changing who …
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Why Do Any Estate Planning?
The 2017 Tax Cuts and Jobs Act raised the amount that can be sheltered from federal estate tax in 2019 to $11.4 million for an individual and double that amount, or $22.8 million, for a married couple. Why undertake any estate planning in this relatively tax-free environment? Here are some compelling reasons: After 2025, the …
Making Your Divorce Quick and Painless in Tennessee
We recently posted a blog regarding how to make your divorce quick and painless in Arizona. There are some differences in Tennessee. This blog provides an overview of the divorce process in Tennessee. Understanding the process helps to make the divorce quick and hopefully painless. Once a petition for dissolving the marriage is filed, Tennessee …
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