Resources
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Distributing Bypass Trust Assets for Income Tax Savings
Question: As a surviving spouse, most of my assets are held in my deceased husband’s bypass trust to which I am entitled to distributions of income and principal. Since I will no longer be subject to estate taxes, is there an advantage to my withdrawing as much money as possible from this trust?
Tax Consequences Upon Sale of Limited Liability Company
Question: I am one of several members in a limited liability company treated as a partnership for tax purposes which is being sold. If we sell our membership interests to the buyer, can the gain be reported as capital gain?
Online bettor wins second chance to recoup losses
Legal gambling on pro and college sports outside Nevada hit the jackpot on May 14 when the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act passed by Congress in 1992.
Fiscal Year Election for Qualified Revocable Trusts
Question: My father died holding all of his assets in a revocable trust. Must the trust’s tax returns be filed using a calendar year-end?
Air travel helps build character, as any frequent flyer will tell you
Airplane travel is nature’s way of making you look like your passport photo. — Al Gore
Like rain on a day off or coffee spilling on your shirt on the way into a client meeting, air travel delays seem inevitable.
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?