Tax Law
Operating Agreements: The Power of the Partnership Representative
Recently, a colleague asked me to review an operating agreement (not one that my colleague had drafted) from a tax…
Read MoreHow Long Did You Say I Need to Keep My Tax Records?
I get this question a lot, and not just from non-lawyers. The answer, as with any question you ask a…
Read MoreDiscretionary Trusts Can Avoid State Income Tax
Discretionary trusts just received another endorsement. Last Friday, The Nine, otherwise known as the United States Supreme Court, gave discretionary…
Read MoreWayfair Pushed State Sales Tax Nexus to The Wayside
Business owners beware – You do not have to be in a state physically to be taxed by that state,…
Read MoreUpdated Estate And Gift Tax Exclusions For 2019
The Tax Cuts and Jobs Act of 2017 created sweeping amendments in federal tax legislation, including important modifications to the federal estate and gift tax laws. The impact of the federal estate tax changes on the D.C. and Maryland estate tax systems created a frenzy of local legislation during 2018. As the dust settles on 2018, there is more clarity for estate tax exemptions in 2019.
Read MoreThe Weekly Scenario: Time Traveling IRS
Question: In general, how far can the IRS go back in time to audit your tax return? Answer: Traditionally, the statute…
Read MoreWhat Happened To Your Tax Matters Partner?
If you have partnership (including LLC) clients, you probably know the Partnership Agreement or Operating Agreement contains a provision appointing…
Read MoreSmall and Medium-Sized Business Owners: Know How the Tax Cuts and Jobs Act Impacts You
Numerous corporations in the United States are cheering the passage of H.R. 1, known as the Tax Cuts and Jobs…
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