May / June
Showing 449–464 of 621 results
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Tax Court finds street lights qualify for 7-year depreciation
May / June 2011
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 587
Abstract: The U.S. Tax Court recently ruled against the IRS in a dispute over the proper period of depreciation for street lights. The IRS had claimed that the lights were subject to a 20-year period, but the court held that they’re subject to a period of only seven years. This article shows that, as a result of this ruling, owners of property with a significant number of street lights could recover the costs of the lights much more quickly. But, as the IRS continues its initiative against faster property depreciation rates, this case underscores the importance of applying common sense and revisiting the plain language of the law when battling the IRS.
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Noncorporate business structures can provide ease and flexibility
May / June 2011
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: Choosing the right business structure for a real estate venture requires serious thought. A corporation is one possible structure that can provide many benefits, but this article takes a closer look at noncorporate options, which generally are subject to fewer rules and regulations and may offer more flexibility. Specifically, it discusses general partnerships, limited liability companies (LLCs), and limited liability partnerships (LLPs).
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Maintenance vs. capital improvement – The difference can mean more money in your pocket
May / June 2011
Newsletter: Real Estate Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 828
Abstract: Property owners often wrestle with how to classify their repair and upkeep costs — are they routine maintenance costs, which are immediately deductible against current income? Or are they capital expenditures that must be recovered over time through depreciation? This article discusses proposed IRS regulations that would help clarify how such costs should be treated for tax purposes. As a sidebar explains, the regulations also provide that “inherently facilitative” transaction costs must be capitalized.
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Poking holes in your damages case – Critiquing expert can help avoid disaste
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: No matter how thoroughly a company prepares, it can be difficult for it to recognize weaknesses or errors in its expert’s report. Even if it has a firm grasp of the concepts on which the expert will testify, both the company and the expert may be too close to the case to evaluate it objectively. This article explains that, when large sums are at stake, an independent “critiquing” expert can ensure the expert’s report will withstand adversarial scrutiny. It looks at what’s involved and how to choose a critiquing expert.
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When it’s time to calculate damages – How to ensure a reasonable discount rate
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 611
Abstract: Consider this scenario: A company goes to court to recover the lost profits it likely would have earned in the future had an employee not divulged the secrets to a competitor. But what’s the best way to determine those lost profits? As this article explains, a skillful financial expert can discount future damages to present value, providing the ammunition businesses need to receive a just award. It discusses the impact that discounting can have on damages awards, what affects the discount rate, and two approaches to calculating lost profits damages.
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In the battle of experts, one weapon simply isn’t enough
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 686
Abstract: Business appraisers generally consider several valuation methods in reaching a value conclusion. In one case in Delaware, a court found the petitioner’s valuation expert to be “totally, completely unreliable,” in large part because she’d relied exclusively on one valuation technique. This article discusses the three most common valuation approaches and the importance of using multiple valuation methods whenever possible to support value conclusions. Citation: In re Hanover Direct, Inc. Shareholders Litigation, No. 1969-CC (Del.Ch. 09/24/2010)
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What’s a business worth? It depends
May / June 2011
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 1045
Abstract: In a litigation context, the same business interest may have different values depending on the nature of the case, applicable law and other variables. This article looks at some factors to consider when determining value, such as identifying the subject ownership interest and determining the valuation standard and the premise of value. A sidebar discusses “level of value,” which refers to the level of control an owner has over the business as well as the level of marketability of the interest.
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Estate Planning Red Flag – Your estate plan contains a formula clause
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 315
Abstract: If one’s estate plan contains a formula clause tied to the federal estate tax exemption, it’s a good idea to review it in light of changes made by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. As this article explains, formulas may need to be adjusted to avoid unintended results.
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Are you protecting your business interests?
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 512
Abstract: This article describes several business asset-protection strategies that owners should consider implementing to help ensure that their business will remain a valuable asset for their heirs. These include creating separate entities, stripping the company of equity, or distributing accumulated earnings to the owners. But, as a sidebar explains, the time to implement asset-protection strategies is well before the company runs into trouble with creditors’ claims. Otherwise one could run afoul of fraudulent conveyance laws.
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2010 Tax Relief act – 2 notable omissions provide continuing opportunities
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is notable not only for the changes it made, but also for those it omitted to make. It did not, for example, adopt proposals that would have reduced the tax-saving opportunities inherent in grantor retained annuity trusts (GRATs), family limited partnerships (FLPs) and family limited liability companies (FLLCs). But there’s no guarantee that Congress won’t revisit these proposals in the future. Plus these strategies may be even more powerful while the gift tax exemption is $5 million. So, as this article explains, those considering setting up a GRAT, FLP or FLLC may find that it’s a good idea to do so sooner rather than later.
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Lifetime gifts are more important than ever
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 989
Abstract: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has created an unprecedented opportunity for affluent taxpayers to remove substantial amounts of wealth from their estates through lifetime gifts. It’s increased the gift and estate tax exemptions, and reduced the top rate for these taxes, but for 2011 and 2012 only. It’s uncertain whether Congress will make these changes permanent, so those who have the ability to make large gifts may find it beneficial to do so this year or next. This article offers details about the increased exemption, the tax-saving power of annual exclusion gifts and direct payments of tuition and medical expenses. And a sidebar explains why credit shelter trusts are still a good idea.
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You leave, you pay – Employer tries to recoup training costs from departing staff
May / June 2011
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 909
Abstract: Training is an essential part of any job. But is it a violation of the Fair Labor Standards Act (FLSA) to require employees to pay back training costs if they resign their positions within a certain time frame? The U.S. Court of Appeals for the Ninth Circuit said “no” in regard to a former police officer who filed a lawsuit on behalf of herself and others similarly situated. But a sidebar discusses another case in which certain employer deductions were judged to be a kickback. Gordon v. City of Oakland, No. 09-16167, Nov. 19, 2010 (9th Cir.) Cao v. Wu Liang Ye Lexington Restaurant Inc., 1:2008cv03725, April 18, 2008 (N.Y. Southern District)
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Resignation or constructive discharge?
May / June 2011
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: After a male firefighter proofread a female co-worker’s grievance before slipping it under the supervisor’s door, he initially denied any involvement but later told the truth. At a hearing, the Public Safety Chief gave him the choice between resigning voluntarily and being terminated. He resigned, but then filed a racial discrimination and retaliation complaint in district court. The U.S. Court of Appeals for the Eleventh Circuit looked into whether the plaintiff’s resignation was actually a “constructive discharge” because it occurred immediately following a disciplinary hearing. Ross v. City of Perry, No. 09-15392, Sept. 22, 2010 (11th Cir.)
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Employee decries company response in harassment lawsuit
May / June 2011
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 830
Abstract: When a worker repeatedly complained about a co-worker’s sexual harassment, the company repeatedly warned the offender and, after conducting an investigation, transferred him to a different department. Nonetheless, the plaintiff filed a lawsuit alleging that she’d been subjected to sexual harassment. Had the company done enough to prevent it? That was the issue that the U.S. Court of Appeals for the Eighth Circuit weighed. Alvarez v. Des Moines Bolt Supply, Inc., No. 09-1465, Nov. 17, 2010 (8th Cir.)
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A salute to USERRA – Military service law offers employees broad protection
May / June 2011
Newsletter: Employment Law Briefing
Price: $225.00, Subscriber Price: $157.50
Word count: 726
Abstract: The Uniformed Services Employment and Reemployment Rights Act (USERRA) was signed into law to encourage noncareer military service, minimize service-related disruptions and prevent discrimination against service members. When a U.S. Army Reservist who’d been passed over for promotion sued his employer, claiming it had violated USERRA, the U.S. Court of Appeals for the First Circuit rejected his arguments — except one. Vega-Colón v. Wyeth Pharmaceuticals, No. 09-1861, October 28, 2010 (1st Cir.)
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Dealer Digest – What’s your spread between new and used cars
May / June 2011
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 376
Abstract: This issue’s “Dealer Digest” looks at one economist’s prediction that the prices and availability of used cars will help drive up sales of new cars this year. It also discusses a new loan program offered by the Small Business Administration, and Ford’s expansion of its line of no-appointment service shops.