In David Yaffee v. Joseph Skeen, et al., (Filed 11/25/2024, C097746 and C097988), the California Court of Appeal, Third Appellate District, held that evidence of the reasonable value of medical services rendered to an insured...more
Since 1995 to the present, the LLC has emerged as the entity of choice for the vast majority of entrepreneurs. This form of business entity owes its success to the flexibility and to the tax benefits that it affords its...more
Don’t Be Unreasonable- Much has been written of late regarding the payment by a business of various personal expenses incurred by its owner or certain key employees. The payment of an owner’s personal expenses appears to...more
Every litigant wants their attorneys’ fees, but actually recovering them in North Carolina is rare. Fee recovery must be authorized by rule or statute, and fees must be “reasonable.”...more
An often-explored theme of this blog is the frequency with which similarly situated owners of similarly situated closely held business, facing a similar set of economic circumstances, and presented with a similar set of...more
Tax Litigation: The Week of February 28, 2022, through March 4, 2022 Corning Place Ohio, LLC v. Comm’r, T.C. Memo. 2022-12 | February 28, 2022| Lauber, J. | Dkt. No. 12428-20 Lewis v. Comm’r, 158 T.C. No. 3 | March 1, 2022 |...more
Double Tax- The shareholders of C corporations have long sought legitimate operational and transactional structures by which they may reduce the double tax hit that is realized when such a corporation distributes its...more
Join us as we discuss important developments and bring you up to speed on current initiatives. Many businesses are still facing unprecedented challenges, and we are here to provide insights. During this information-filled...more
Movement Toward Tax Increases- You may have read last week that Democrats on the Senate Budget Committee announced they had reached a deal on a budget resolution that will enable them to bypass Senate Republicans on the...more
One of the most important decisions a board determines is what constitutes reasonable compensation. The rules for this determination are robust and so are the taxes imposed for violations of the Internal Revenue Code and the...more
What A Ride- No one anticipated that the Administration’s proposed tax increases would fly through Congress easily – at least no one residing in a state in which the recreational use of marijuana has not been legalized....more
Corporate Rate Increase? We begin this week with the Senate having passed the President’s $1.9 trillion coronavirus relief and economic stimulus plan (the “American Rescue Plan” following a marathon session during which...more
The Legal Information Institute at Cornell has defined “pain and suffering” as “[t]he physical or emotional distress resulting from an injury.” In a personal injury lawsuit, the amount of money for pain and suffering is...more
The law has always favored the term “reasonable.” For example, the law affords protection against a negligence lawsuit if a person can demonstrate he or she acted as a reasonable person would have under similar...more
Representing the Estate Executor – Ethical Duty – Confidentiality – Withdrawal - New York State Bar Association Ethics Opinion No. 1194 - Risk Management Issue: Does a lawyer for an estate executor have an ethical duty...more
On June 29, the U.S. Department of Labor (DOL) again waded into the financial services standard of care waters, only this time, it is staying in the shallow end. The DOL’s proposed prohibited transaction exemption (Proposed...more
The federal government’s ability to compel manufacture of supplies under the Defense Production Act has lately been in the news. Indeed, President Trump has issued an Executive Order authorizing the Secretary of Health and...more
Areas of Discussion: - In this Presentation, we will discuss the following: - Duty of loyalty; - Authority for trustee compensation; - Factors for reasonable compensation; - Other issues arising from trustee...more
According to a recent decision from the German Federal Labor Court, necessary travel time spent in the employer’s interest generally has to be compensated like working time. This decision impacts business travel, especially...more
From its inception, Section 199A made it fairly clear that the deduction for qualified business income (“QBI”) would not apply to all income in respect of pass-through businesses. Aside from limitations dependent on the...more