Resources
Stay in the know of company and industry updates, accomplishments and more!
Evaluating Roth IRA Conversions After New Tax Law
Question: I have been pondering converting my traditional IRA to a Roth IRA for many years and question whether the new tax law makes a conversion more or less beneficial?
As a Public Service, Rep Lawyers Offer Free Advice to Principals
With surprising regularity, principals are taking legally flawed positions when reps must resort to legal action to collect commissions due, particularly following a termination.
Preserving Alimony Deductions After New Tax Law
Question: My spouse and I are about to divorce. Can I deduct any alimony payments I make to my spouse?
Baseball faces formidable 2018 lineup of litigation
The past four spring training columns have each covered the progress of a class-action lawsuit in which minor league players sought to obtain what Major League Baseball, supreme ruler of the minor leagues, was unwilling to provide: a living wage. Many minor leaguers earn less than $7,500 a year, some less than $3,000, but barring action by the Supreme Court, their suit appears concluded.
Charitable Contribution Deductions After New Tax Act
Question: I have historically itemized my deductions on my personal income tax returns, a meaningful portion of which consist of charitable contributions. What if anything can I do now that my charitable contributions will not provide any tax benefit to me?
Court validates right of ‘scrooge’ diners to give stingy tips
Tipping after a meal is a highly individual preference. Some food lovers will leave huge tips even if the soup arrives cold and the beer warm with the waitstaff nowhere to be found, while other customers tip frugally after receiving five-star service at a busy restaurant.
Avoiding Gain on Partnership Liquidations
Question: I am a partner in a two-person partnership which holds two condominium units for rental. Can we dissolve our partnership without paying tax on the appreciation in the condominium units?
Sales Rep Prevents Improper Termination with Rare Injunction
Sales rep lawsuits commonly seek to recover unpaid commissions following the termination of a rep contract.
Avoiding Debt Discharge Income by Limited Liability Company
Question: I own a 50% membership interest in a limited liability company (“LLC”) which is taxed as a partnership and I also own stock in a S corporation. The corporation advanced funds to the LLC in 2017. Since the LLC is no longer in business, do I as a LLC member have to report income from the non-repayment of the advance?
Tax Benefits from Vacation Home Rentals
Question: I will be renting out my vacation home for part of the 2018 year. If I have income from the rental, do I have to pay tax on the income? Alternatively, if I have a rental loss, can I deduct the loss?