Retailers Operating in Illinois Must Collect Sales Tax on Shipping and Handling for Internet Orders to Illinois Residents or Face... by Proskauer Rose LLP on 5/7/2012 Retailers with stores in the state of Illinois could face steep penalties if they fail to comply with the state’s policy on sales tax for internet sales. A number of retailers are facing lawsuits for failing to collect sales...more
Why Asset Protection Trusts May Fail by Sanford Millar on 5/7/2012 In a recent federal income tax collection case, the trial court discusses the reasons why an asset protection trust failed to protect assets of a taxpayer from a tax levy. The court in Evseroff found that all the assets of an...more
CPAs and Taxpayers Beware: Employee Telecommuting Is Doing Business In New Jersey For Purposes of Taxation by James McDonough on 3/12/2012 The New Jersey Tax Court has held that a foreign corporation that consistently permits an employee to telecommute from her New Jersey residence is doing business in New Jersey and is subject to the New Jersey Corporation...more
France: Introduction of New Anti-Abuse Rules on the Tax Deductibility of Interest and other Financing Expenses by Orrick, Herrington & Sutcliffe LLP on 1/1/2012 Until recently, private-equity investment funds and international corporate groups investing in France enjoyed a very favorable tax environment, including inter alia the benefit of both EU Directives and the double tax...more
Food Services Providers & Investigations by State Attorneys General by Venable LLP on 12/16/2011 New York State’s new Taxpayer Protection Bureau, which New York State Attorney General Eric Schneiderman established in January 2011, was designed to eliminate fraud and recoup money illegally taken from New York State...more
Personal Liability Associated with Non-Profit Board Membership by Collins & Collins, P.C. on 10/28/2011 Sitting on a non-profit board can be very rewarding with significant contributions to the community and to causes close to your heart. However, there are a number of potentially very serious financial risks associated with...more
Business Owners – Is Now the Time to Sell? by Ronald Adams on 9/20/2011 We are holding a Complimentary Business Succession Seminar on September 29th, 2011 at the Hilton Hotel in Mesa (U.S. 60 and Alma School Road) from 4:00 to 5:30 PM, to help business owners turn their dream of succession into...more
Structured Thoughts - Volume 2, Issue 11 - August 2, 2011 by Morrison & Foerster LLP on 8/4/2011 In this issue: The SEC’s Report of Its Sweep Examination of Retail Structured Products; RIC Commodity Ruling Update; and In re Lehman Brothers and Principal Protection. Excerpt from 'The SEC's Report...': As many...more
Asset Protection FOR CPAs by IKE DEVJI on 8/1/2011 One pressing area in which clients are increasingly seeking feedback from their accounting and financial advisory team is Asset Protection. Part of that stewardship is making sure that the growth and savings you are...more
MSC Order List: June 15, 2011 by Warner Norcross & Judd on 6/20/2011 On June 15, 2011, the Michigan Supreme Court granted the Governor’s request for an advisory opinion regarding the constitutionality of the reduction or elimination of tax exemption for pension incomes in 2011 PA 38. In re...more
U.S. District Court Finds No Fiduciary Breach for Change in Qualified Default Investment Alternative by Morgan Lewis on 5/2/2011 The U.S. District Court in the Western District of Kentucky recently ruled in favor of plan fiduciaries that adopted a qualified default investment alternative (QDIA) for an employer’s tax-qualified retirement plans. In...more
Top 10 Hidden Liability Pitfalls That Retirement Plan Fiduciaries Should Avoid by The Rosenbaum Law Firm P.C. on 4/23/2011 Being a retirement plan fiduciary such as a plan sponsor or a plan trustee is like being a homeowner. Homeowners see their homes as a serious financial accomplishment and an important investment. Homeowners are unaware of the...more
Should I Put My Primary Residence Into A Limited Liability Company? by Maureen O'Leary Guth on 4/22/2011 Multiple member limited liability companies (“LLCs”) can be very useful tools for achieving asset protection . For this reason, individuals sometimes consider transferring their primary residence into an LLC. ...more
Compassionate Care Hospice v. Compensation Solutions Inc. Brief in Opposition to Motion for Summary Judgment by Ronald Coleman on 3/24/2011 Lawsuit against client's former payroll services providers, Compensation Solutions, which removed over half a million dollars from client's bank account in order to "pay itself" a claimed fee after termination of its contract...more
Compassionate Care Hospice v. Compensation Solutions Inc. Brief in support of plaintiff's motion for a preliminary injunction by Ronald Coleman on 2/24/2011 Lawsuit against client's former payroll services providers, Compensation Solutions, which removed over half a million dollars from client's bank account in order to "pay itself" a claimed fee after termination of its contract...more