Resources
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Tax Planning with Appreciated Assets
Question: I own a stock portfolio which has appreciated significantly in value over the years. Can I transfer the portfolio to my aged mother and have her transfer it back to me upon her death so I can benefit from a step-up in basis when she dies?
Continuing Post-Termination Salary as Deferred Compensation
Question: I am planning to retire and give stock in my business to my children in the next few years. While I am not expecting any payments in return, I want to continue my salary following my retirement. Can the business continue to pay salary to me after I retire?
Lawmakers target meat substitutes and labeling
Allegedly concerned with “confusing” the public, certain states and the federal government have proposed or enacted legislation requiring meatless...
Minimizing investment losses on required minimum distributions
Question: I have funds in a Roth IRA, a traditional IRA and my employer’s 401(k) plan. Is there a way to avoid selling retirement account assets at...
Coaching a testifying witness is, without a flinch, contemptuous
Usually, it happens well into a key deposition. After hours of grueling questioning, the witness starts to wear down, his loss of confidence...
Discovery maneuvering is often aimed at wearing down reps in commission actions
Ordinarily, this column explores legal avenues available to protect the interests of independent sales reps, the willingness of courts to travel down such avenues, or both. Sometimes, however, developing an appropriate legal theory and filing a lawsuit (or arbitration demand) can prove the easy part.
Non-interest bearing parent/child loans
Question: I loaned a sizeable sum to my daughter to enable her to purchase a residence. While I expect to be repaid, there is no specific time for repayment and no interest will be paid on the loan. What are the tax consequences of this arrangement?
‘Absurd’ trademark infringement claims
Four trademark infringement scenarios. Spot the real one:
Qualified business income tax deduction for an employee/contractor
Question: I am a salaried employee and I also receive self-employment income from a side business unrelated to my salaried employment. Am I entitled to a qualified business income tax deduction for my earnings?
Statements imputing gang membership not actionable as defamation per se
Recently, the Illinois Appellate Court, First District, clarified a point of defamation law which had created confusion over the years: Whether a false statement imputing an association with a criminal enterprise, such as a street gang, can support a cause of action for defamation per se (statements that are so obviously and naturally harmful on their face that they are actionable without proof of special damages).