Business Owner’s 2012 End of Year Tax Considerations - Business Law Legal Blogs Posted by Andrew B. Platt - Lawyers.com

Business Owner’s 2012 End of Year Tax Considerations

Despite the uncertainty introduced by the end-of-year tax negotiations in Washington, there is specific guidance we can offer. Issues such as the 3.8% passive income tax and the changes to accelerated depreciation do not seem to be on the table and we expect there to be long-term consequences for the business community.

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Andrew B. Platt

Licensed since 2007

Member at firm Woods Erickson & Whitaker LLP

RECENT POSTS

  • Failure to read the contract is not a sign of trust
    Posted on January 15, 2013
    Topic: Contracts

    As the news stories about the recently wrecked passengers of the Costa Concordia attest, we are used to taking the "fine print" on faith. Even though the cruise company is based in Florida, if those passengers want to sue for damages for their ruined vacation–and worse–they are forced by the contract terms they almost certainly ... Read more

  • IRS treatment of Series LLCs: the fog is lifting
    Posted on January 15, 2013
    Topic: Business Law

    For the past years we have heard three refrains: (1) series limited liability companies, or SLLCs, may be good for some purposes but there was uncertainty over (2) how jurisdictions that did not independently recognize SLLCs would honor their asset segregation and (3) how the IRS would handle series filings. As we continue to monitor ... Read more

  • Why your trust does not “exist”: best practices in granting language
    Posted on January 15, 2013
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    Before getting to the real reason for this post, let us be clear that your trust does not exist. By that I mean simply that your trust is not a legally distinct entity like an LLC or a limited partnership is an entity. Your trust is a relationship and your trustee holds property "in trust" ... Read more

Andrew B. Platt

Licensed since 2007

Member at firm Woods Erickson & Whitaker LLP

RECENT POSTS

  • Failure to read the contract is not a sign of trust
    Posted on January 15, 2013
    Topic: Contracts

    As the news stories about the recently wrecked passengers of the Costa Concordia attest, we are used to taking the "fine print" on faith. Even though the cruise company is based in Florida, if those passengers want to sue for damages for their ruined vacation–and worse–they are forced by the contract terms they almost certainly ... Read more

  • IRS treatment of Series LLCs: the fog is lifting
    Posted on January 15, 2013
    Topic: Business Law

    For the past years we have heard three refrains: (1) series limited liability companies, or SLLCs, may be good for some purposes but there was uncertainty over (2) how jurisdictions that did not independently recognize SLLCs would honor their asset segregation and (3) how the IRS would handle series filings. As we continue to monitor ... Read more

  • Why your trust does not “exist”: best practices in granting language
    Posted on January 15, 2013
    Topic: Real Estate

    Before getting to the real reason for this post, let us be clear that your trust does not exist. By that I mean simply that your trust is not a legally distinct entity like an LLC or a limited partnership is an entity. Your trust is a relationship and your trustee holds property "in trust" ... Read more