Cameron Hess
Preparers are going to have to be a lot more inquisitive with their client’s 2011-year personal income tax returns and will have to ask about their foreign financial investments. Starting with the 2011-year Form 1040, clients may now also have to file Form 8938 with their return in order to report certain financial investments. Form […]
READ MOREAfter December 31, 2011, the IRS will no longer be accepting the old Form 2848. For practitioners, there are three important changes to the actual form: A single Form 2848 may no longer be used for dual representation. A husband and wife; or domestic partners; or a taxpayer’s individual (social security number) representation and payroll (EIN) representation […]
READ MOREAs we have been active in working with property owners on loans the past several months, the following may be helpful to you on multi-family and commercial loans. The bottom line is that banks are returning back to lending and on larger projects may be willing to work out troubled loans: New Loans (Purchases & […]
READ MOREAs a real estate attorney, I cannot help but consolidate a few thoughts about 2011. First, for any real estate transactions, the impact of the economy on the real estate market means a buyer should not assume that appreciation in value and rents will eliminate problems with the property purchased. Second, with most properties on […]
READ MOREFor some folks, the legislative changes to LLC and LLP statutes may help with choice of business entity planning. AB2671. Waiver of LLC Tax for Small Business LLC – Single Member Deployed Overseas If a Presidential Executive Order called your client to active duty (such as, for example, service in Iraq & Afghanistan), your client […]
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