Monthly Archives: March 2014

One of the most significant tax advantages to owning a home comes at the back end of ownership, when you decide to sell it for a profit. A homeowner can exclude up to $250,000 of such profit from the federal capital gains tax. For married couples filing a joint tax return, the exclusion jumps to…

“Eminent domain” is the power of the federal, state, or local governments (and, in some limited circumstances, private parties, such as utilities and railroads) to take, or to authorize the taking of, private property for a public use without the owner’s consent and upon payment of just compensation. That right to compensation is rooted in…

A power of appointment is the power given to someone to allow that person to designate who will receive property or an interest in property. The creator of the power is called the donor, the individual having the power is the power holder, and the possible recipients of the property are permissible appointees. Powers of…

Both heart and mind must be working well if the owners of a new small business are to experience success. While it is only human nature—not to mention fun—to indulge one’s imagination about what a new business started from scratch could be like, would‑be entrepreneurs need to engage in some cold, hard thinking and planning…

Small business owners are easy prey for the IRS. “Ignorance is no excuse” is the rule of thumb for owners of small enterprises; unfortunately many individuals jump into the world of business ownership without having a clear understanding of the complexities and nuances of tax codes. Common Tax Penalties A mistake small business owners often…

With a view toward getting a full measure of justice for debtors who may have been wronged by a violation of the federal Fair Credit Reporting Act (FCRA), attorneys often will add to their pleadings claims under state law arising under the common law (court-made law) or state statutes. Any time there is such a…

One of the main issues in starting a business is raising capital. Forming a business can be very costly, and many financial advisors suggest simply acquiring an existing business. Building/modifying facilities, developing an inventory, hiring staff, and the myriad other components that go into starting a new business can be both challenging and expensive. It…

Some say the world is divided between dog lovers and cat lovers. Jan is the latter. She has seven cats of her own that live with her in her modest California home. But Jan also puts her modest financial means where her mouth is. As a volunteer for a local IRS-approved charity, she has taken…

The Department of Justice (DOJ) recently revised its regulations implementing the Americans with Disabilities Act (ADA). This revision clarifies some issues that have arisen over thepast 20 years and contains some new requirements, including the 2010 Standards for Accessible Design. DOJ has published a document, ADA Update:A Primer for Small Business,which provides guidance to assist…

Corporate shareholders have rights which are not shared by partnership arrangements. If these rights are violated, some legal avenues are open for remedy. Benefits of Shareholders Shareholders are basically part owners of a corporation. They have numerous powers, such as the ability to vote on corporate issues. They also benefit when the corporation thrives. As…