The answer to this question varies by state. There is usually a statute or rule of law directly on point that gives a clear answer. But there are a number of other court decisions and laws that can affect the answer and make it an area worth looking into closely if you are either paying …
Divorce Speech. Understanding the Terminology?
You have just come from your lawyer’s office and now wonder whether you really understood everything that was being said. There are special terms used throughout a divorce proceeding that you will hear, and often times as practitioners we forget that the terms, while familiar to us, are not familiar to you. The following is …
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6 Factors to Consider When Deciding Relocation in Child Custody Cases
While having two parents who live not only in the same state, but within a reasonable driving distance from each other is ideal, this may not always be possible. Sometimes a move out of state is necessary due to employment, family, health, or remarriage. Other times, the ability to provide for a better standard of …
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How Long Should You Keep Your Tax Records?
The length of time you should keep tax records depends on the action, expense, or event which the records will substantiate. Generally, you should keep records until the statute of limitations period for an audit or assessment of that tax return expires: 3 YEARS from the date you filed your original return or 2 years …
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IRS General Counsel Opinion on Deductibility of Health Insurance Premiums Paid for Family Members of S Corporation Shareholders
The IRS recently issued a Chief Counsel Memorandum clarifying when a family member of a 2% shareholder in an S corporation is entitled to a deduction under Section 162(l) of the Internal Revenue Code (the “Code”) for health plan insurance premiums paid for coverage provided to the family member by the S corporation. Chief Counsel …
Parenting Time: What Happens If A Child Refuses to Go to the Other Parent’s Home?
A substantially equal parenting time is in effect, and bags are packed. The only problem is that your child is refusing to get into the car to start their parenting time with the other parent. Now what? If your child is resisting going with the other parent, it can first be helpful to determine the …
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IRS Expands Self-Correction Procedures for Retirement Plans
Certain qualified retirement plan errors are now easier to fix under the new expanded IRS self-correction procedures. On April 19, 2019, the IRS released the revised Employee Plans Compliance Resolution System (“EPCRS”) under Revenue Procedure 2019-9. EPCRS allows employers of all sizes to identify and correct retirement plan errors under the Self-Correction Program (“SCP”), Voluntary …
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Parental Decision vs. The Nanny State
Arizona Family Courts, like all courts dealing with the trauma and fluid emotions surrounding the break-up of families, constantly grapple with the issue of where to draw the line when it comes to resolving parenting disputes between parties. How far should the Court go in micromanaging decisions regarding the raising of children (i.e., adopting a …
Keeping the House After Divorce? Sixteen Questions to Ask Yourself Before Deciding
Selling your home is a big decision. To help you decide what is right for you, ask yourself these questions: What will be the impact (positive or negative) on my children if the home is sold? Can I afford to stay in the house after the divorce? After the divorce, will I be willing to …
Are You My Partner?
Like the poor little bird in the Dr. Seuss book that struggled to identify its mother, it can sometimes prove difficult for partners in a partnership to identify their partners for federal income tax purposes. Partnerships for tax purposes include general partnerships, limited partnerships and limited liability companies taxed as partnerships. The federal income tax …