by hoodlawkc | Business Planning, Tax Planning
Disputes between partners in a partnership is a common occurrence and should be an expected hurdle for partners from the beginning of a business venture. The impact of partnership taxation and lack of flexibility of like-kind exchanges is often the cause of some of...
by hoodlawkc | Tax Planning, Estate Planning
Rising costs of college and other higher education over the past several years, coupled with inflation and lack of a matching increase in average salary have made college education out of reach for many families. Baby boomer grandparents are now stepping in more than...
by hoodlawkc | Tax Planning
(U. S. Supreme Court, Slip No. 13–485. May 18, 2015) Brian and Karen Wynne challenged Maryland’s position of “double taxation” in which Maryland refused to credit taxes paid to other states on their county income tax while allowing for the income tax credit against...
by hoodlawkc | Tax Planning, Tax Law
Community Property, a marital property regime primarily adopted in the western states as a result of Mexican and Spanish law influences, has been the cause of confusion and disputes in divorce and probate proceedings but also may present a substantial tax advantage in...
by hoodlawkc | Estate Planning, Tax Planning
Earlier this year, a federal court rendered an opinion in Janice C. Specht et al. v. U.S., No. 1:13-cv00705 (U.S. District Court, S.D. Ohio, Western Division, 2015), that should be a strong warning to those persons tasked with being executors of estates, and in...
by hoodlawkc | Tax Planning
A frequently asked question in our law office is whether a client can deduct certain legal expenses. The answer is more complicated than you might think. In most cases, the answer boils down to whether the expenses can be considered personal, or emanate from a trade...
