Practical perspectives for contemporary legal challenges.
One of the most frustrating parts of a divorce for participants, whether you are representing yourself or you have a lawyer, is the volume of documents that must be exchanged. In Arizona, under the Rules of Family Law Procedure, each party is required, within 40 days of after a response to the initial petition is …
Continue reading “What Documents Should You Gather in a Divorce? A Checklist to Help Guide You”
Open Letter to Client Thank you for entrusting me with your family law matter. Going through a divorce or any family law case can be very stressful and you are probably unsure of what to expect from your attorney. I thought it would be helpful to provide you with some general information so that you …
The presents are unwrapped, and gifts exchanged. But that gift with your name on it, or that new vehicle in the driveway with a big bow on top, is it really yours? Or, in the event of a divorce or legal separation, is it part of the marital estate subject to division? Gifts that you …
In the 2019 federal budget, the Canadian federal government announced changes to the taxation of employee stock options. On November 30, 2020, in its Fall Economic Statement, the federal government announced it was moving forward with plans to amend the tax treatment of employee stock options and released further information. Beginning July 1, 2021, stock …
As the year winds down, the fundraising efforts of many charitable organizations ramp up. This is for good reason as, on average, charitable organizations raise around 40% of their annual revenues during the holiday season. As we’ve written earlier in the year on the DW Tax Blog, this year’s “giving season” comes with a new …
Now that the results of the presidential election are in and former Vice-President Joe Biden has become President-elect Biden, it is important to remember the tax policy changes for personal income taxes announced by Mr. Biden during his campaign that he would propose if elected. As we review three of these changes, keep in mind …
Continue reading “Impact of the Presidential Election on Personal Income Taxes”
Employers know that wages are generally subject to the Federal Insurance Contributions Act (“FICA”), and that both employers and employees are liable for a portion of FICA on those wages. In most circumstances, the employee and employer portion of FICA are paid when the compensation is paid to employees—but there is a “special timing rule” …
In December 2020, the United States Tax Court will be launching DAWSON (Docket Access Within a Secure Online Network), the Court’s new case management system. The Court expects DAWSON to be active no later than December 28, 2020. Beginning at 5:00 PM Eastern Time on November 20, 2020, the current e-filing system will become inaccessible …
Continue reading “United States Tax Court Launching New Case Management System – Dawson”
Remote executions of estate planning documents are again allowed in Michigan through December 31, 2020. On November 5, 2020, Michigan’s Governor signed 2020 PA 246, allowing remote witnessing, and 2020 PA 249 allowing remote notarizations. This applies to any document that is executed on or after April 30, 2020 through December 31, 2020. In order …
The IRS announced cost of living adjustments affecting dollar limitations for employer plans for tax year 2021. Most IRS limits impacting employer retirement plans have remained the same because the increase in the cost-of-living index did not meet the legal thresholds that trigger their adjustment. See IRS Notice 2020-79 and IRS Revenue Procedure 2020-32 for additional IRS technical guidance. …
Continue reading “The IRS Announces Updated Limitations Related to Employer Plans for 2021”