Practical perspectives for contemporary legal challenges.
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 …
Continue reading “New and Valuable Ways to Reduce Capital Gains Tax”
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 …
Continue reading “How Can I Change Parenting Time Post-Divorce?”
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 …
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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My clients often provide me with copies of their emails and text communications with their ex-spouse. Most of the time, the written communications are helpful evidence to demonstrate whether a parent is communicating and co-parenting in good faith, i.e., if a parent is timely responding to information requests or is providing necessary information about the …
Continue reading “Please Don’t Send That Inappropriate Email/Text to Your Ex-Spouse”
On January 14, 2019, the U.S. Department of Justice (“DOJ”) issued a new opinion memorandum from the Office of Legal Counsel (“OLC”) regarding its interpretation of the Federal Wire Act. The Federal Wire Act is a federal criminal gambling statute enacted in 1961 as part of a package of laws to deprive organized crime of …
Continue reading “The U.S. Department of Justice Restores America’s Wire Act by Opinion”
Section 45S of the Internal Revenue Code (“Code”), added to the Code by the Tax Cuts and Jobs Act of 2017, establishes a general business credit for an employer who provides paid family and medical leave to qualifying employees. The credit would partially offset the cost of the paid leave, however, it is available only …
Continue reading “Determining Eligibility for the Employer Credit for Paid Family and Medical Leave”
Divorce is a very stressful time. The issues that need to be addressed involve some of the most important things in people’s lives: their children, their finances, their retirement plans and sometimes even their identity as a person. It is natural during a divorce for someone to do one of two things: fight or flight. …
In early August, the Internal Revenue Service (IRS) issued proposed regulations under the Tax Cuts and Jobs Act (TCJA) that provide guidance to owners of pass-through businesses as to eligibility for a federal tax deduction of 20% of the income generated by the businesses under new Section 199A of the Internal Revenue Code (IRC). Although …
Continue reading ““Non-Performing Artists” Wait on IRS Final Regulations Under Section 199A”
Perhaps you and your spouse have been waiting for the new year to file for divorce. Now the issue is how fast can this happen. Even if you agree on everything, there are a number of time requirements for obtaining a divorce in most states, including Arizona. In Arizona either you or your spouse must …