Arizona's new Limited Liability Company Act (the "New Act"), which goes into effect for all Arizona LLCs on September 1, 2020, and already governs limited liability companies (each an "LLC") formed on or after September 1,...more
The Revised Arizona Limited Liability Act ("New Act") has been effective since September 1, 2019 for new limited liability companies ("LLCs"). It now becomes effective for any existing LLCs on September 1, 2020. Especially...more
8/10/2020
/ Amended Rules ,
Default ,
Fiduciary Duty ,
Indemnification Clauses ,
Limited Liability Act ,
Limited Liability Company (LLC) ,
Managing Members ,
Operating Agreements ,
Standard of Care ,
State and Local Government ,
Waivers ,
Written Agreements
The New Arizona Limited Liability Company Act (the "New Act"), applicable immediately for all Arizona limited liability companies (each, a "LLC") formed on or after September 1, 2019 and applicable September 1, 2020 for all...more
As the COVID-19 pandemic has wreaked havoc on our personal, financial and business lives, the government has responded with legislative and administrative relief. This is a high-level summary of some of the enacted measures...more
4/29/2020
/ 401k ,
Alternative Minimum Tax ,
Business Taxes ,
CARES Act ,
Charitable Donations ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Direct Payments to Families and Individuals ,
Disaster Relief Fund ,
Employee Retention ,
Employer Contributions ,
Individual Retirement Account (IRA) ,
IRS ,
Loan Forgiveness ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Property Improvements ,
Rebates ,
Relief Measures ,
Required Minimum Distributions ,
Retirement Account Loans ,
Retirement Funds ,
Student Loans ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Relief ,
Tax Returns ,
Tax-Free Transfers ,
Time Extensions ,
Waivers
Taking the time to complete your health care power of attorney and living will is a great step toward ensuring that your health care wishes will be followed if you are unable to make decisions for yourself. A health care...more
If you’re like many people, you have not put much thought into who will make your health care decisions if you are unable or what kinds of decisions might need to be made. However, during these unprecedented times, you may...more
The New Arizona Limited Liability Company Act (the “New LLC Act”) will impact all Arizona limited liability companies this year. The Arizona Limited Liability Company Act was recently amended. For any Arizona LLC formed on or...more
JW Way Fundamental #26: Show heartfelt appreciation "Recognize positive contributions of others. Regularly extend meaningful acknowledgment and appreciation. Give sincere, authentic praise."...more
Under the new tax law, estate tax has not been repealed. However, there is relief for higher net worth individuals, business owners and people with large estates that have little or no liquidity who previously might have...more
Congress enacted the Bipartisan Budget Act of 2015 (“BBA”) under which existing partnership audit rules have been replaced. The new BBA audit rules are broad and complex and effective for partnership tax returns filed for tax...more
The overhaul of the Internal Revenue Code was passed by Congress on December 21, 2017 and signed into law by the President. Many changes become effective January 1, 2018. Although 2017 is almost over, the following are some...more
12/29/2017
/ Charitable Donations ,
Income Taxes ,
Like Kind Exchanges ,
Local Taxes ,
Mortgage Interest ,
Pass-Through Entities ,
Property Tax ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform
Why Young Adults Need Power of Attorneys -
When children turn 18, they legally become adults. If there was a catastrophic life event which rendered them unable to make their own life decisions, their parents no longer...more
Is there one insurance policy to cover all of my risks?
No. Insurance is the sale of certain risks in exchange for a premium. No policy buys all the risks a business faces.
How many policies do I...more
In your experience, what’s the most costly mistake people make when preparing estate plans, and what can they do to fix them? That’s the question we recently put to attorneys writing on JD Supra....more
2/7/2014
/ Beneficiaries ,
Contract Drafting ,
Divorce ,
Estate Planning ,
Estate Tax ,
Legal Perspectives ,
Prenuptial Agreements ,
Probate ,
Revocable Trusts ,
Tax Planning ,
Trusts ,
Wills
In today’s world, fewer marriages exist and more people are cohabitating in committed relationships for various reasons.
Arizona’s community property laws do not apply to the ownership of real property between...more
The new estate laws are challenging to comply with and will require most high net worth individuals to review their existing plan. One of the major issues is how the trust is divided on the death of the first spouse, and who...more