The classification of settlement payments for purposes of federal income taxes continues to be a problem for taxpayers and for their legal advisers. The Ninth Circuit, in Rivera v. Baker West, Inc., recently upheld a lower court’s determination that an …..
With 2006 fast approaching I can’t help but pause to think about our estate and gift tax regime. The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 changed the rules of the game. Following the enactment of EGTRRA …..
Financing a business start-up can be a challenge. Most traditional lenders require that a business be operational for at least a year before they will provide small business loans. Moreover, venture capitalists are quick to reject most start-up proposals and …..
This post is written to remind non-tax attorneys who administer estates of a few basic tax issues that must be considered in administering estates. From a tax perspective, estate administration is all about making elections and timing distributions, income and …..
In Jordan v. Commissioner, T.C. Memo. 2005-266, the U.S. Tax Court held that a life insurance salesman who became addicted to OxyContin prescribed for his severe headaches, his in patient rehabilitation, and his memory loss were not reasonable cause for …..
The best laid tax plans often go awry as tax laws and life circumstances change. In other cases tax plans go awry because they were improperly conceived. I have been encountering a number of NIMCRUTs that should not have been …..
It appears that the States have effectively shut down recent attempts by gays and lesbians to achieve full marital equality. However, this does not appear to be the end of this issue and it leaves me wondering if gay and …..