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Timely Opportunities

Consider Tax Issues Before Moving Across State Lines

Tax can be a deciding factor if you’re contemplating a move to a different state. Here’s an overview of how to evaluate the tax picture in various states you might be considering.        Investigate All State and Local Taxes Estate vs. Inheritance Tax What’s the difference between an estate tax and an inheritance tax? An […]
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Crypto: What Taxpayers Need to Know

Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that may not be well understood by everyone. Here’s an update on what you need to know about the federal tax issues if you exchange or […]
Commercial Law

The Uniform Commercial Code and What it Means to Your Business

Decades ago, many businesses engaged in transactions with other entities in the same geographic area. Then came the Internet and other electronic devices that allow business to be easily conducted with a just a few clicks. Today’s companies are likely engaged in transactions with entities in other states. What the UCC Covers The UCC is […]

Can a Creditor Go After Non-Probate Assets?

When someone dies, one of the first questions that close relatives usually have is whether they are personally responsible to pay the credit card bills of the decedent. They may even start getting telephone calls from creditors asking them to pay outstanding balances. Close relatives may also want to know: Who is responsible for paying […]
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Potential Pitfalls of Taxable Investments in Gold and Other Precious Metals

As an investor, you may want to look beyond the stock market and fixed-income alternatives. Allocating some of your money to gold and other precious metal assets could be an option to hedge against stock market uncertainty. However, before you invest, it’s important to understand the tax impact of selling precious metal assets as well […]
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Federal Tax Obligations When a Business Shuts Down

Is it time to close your small business? Unfortunately, closing isn’t as simple as handing over the keys to a landlord or even selling a building you own. You still have various responsibilities to meet as you wind down, including some tax and legal obligations. Income Tax Requirements What you have to do from a […]
Business Law

Dealing With Your State Corporation Commission

No matter what type of business you’re in, sooner or later you have to deal with the State Corporation Commission (SCC) or Secretary of State. These offices handle the formalities of setting up and maintaining a business, whether it’s a partnership, corporation, limited liability company or other entity. More Suggestions On Communicating With SCC Offices […]
General Litigation

The Strict Letter of the Law

Sometimes, regardless of how careful you are or how careless an injured victim was, you can still be held liable for damages. It’s a legal doctrine called strict liability. And the principle can be applied in product liability cases. In general, strict liability applies to inherently dangerous activities, such as keeping wild animals near small […]
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How to Curb Automotive Hacking

Automotive hacking is on the rise. The number of cyberattacks into vehicle computer systems increased by a staggering 380% from 2021 to 2022, according to Upstream’s 2023 Global Automotive CyberSecurity Report. Don’t buckle up without taking precautions.  What Is Automotive Hacking? The term “automotive hacking” refers to attempts by outsiders to use technology to invade […]
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What Are the Tax Implications of the New Lease Accounting Rules?

Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in how leases are reported for “book” purposes. While the tax rules for leases haven’t changed, the new accounting rules can have notable implications for how the tax rules play out. New Accounting Rules The Financial Accounting Standards Board (FASB) issues […]