With Federal Estate Tax on Hiatus, New Rules Boost Capital Gains Tax Liability
February 11, 2010
Don’t celebrate the temporary disappearance of the federal estate tax too soon. In the absence of this tax, Congress changed the rules governing capital gains tax on sales of inherited property, creating additional tax liability in most situations.
Under prior federal law, assets held by an...
Retroactivity of New Estate Tax Law is Not a Sure Thing
February 10, 2010
Members of Congress have suggested that a new estate tax law now under debate could be applied retroactively to January 1. Although the Federal Courts have generally agreed with retroactive application of such laws, retroactivity is not a sure thing.
There are legal and practical barriers to...
Good Planning Can Reduce The Impact of Divorce
October 01, 2009
(Originally published in Office Hours)
One of the most often overlooked or under-estimated challenges confronting medical practice owners is the impact of a divorce. This is particularly true when the practice represents a married couple’s largest asset and its main source of income.
Some of the...
What Legal Measures Can I Take to Collect on a Bad Check?
July 10, 2009
( Originally published in the Farm & Dairy)
In difficult economic times when accounts are running lean, a bounced check can start a chain reaction that has widespread consequences. Fortunately, Ohio civil and criminal laws recognize the problems that can arise from a bad check. Here are some...
Home Warranties: Common Legal Questions & Answers
June 20, 2009
Here is some insight for dealing with the legal issues that surround home warranties.
(Originally published in Office Hours)
Issues surrounding the applicability and enforceability of home warranties often vex our construction clients.
Consider this example:
Harry Homeowner contracts...
New Trust Code Opens Opportunity for Change
June 20, 2009
(Originally published in Office Hours)
The Ohio Trust Code, adopted in January 2007, has driven major changes in the way trusts are managed. As a result, individuals setting up or managing trusts now have several issues to consider.
The two most dramatic changes created by the new code cover:
Updates Make COBRA Even More Challenging
June 15, 2009
(Originally published in The Business Journal)
Historically, the Consolidated Omnibus Budget Reconciliation Act, widely known as COBRA, has been one of the most visible and challenging federal laws affecting businesses that are downsizing.
Now, with some recent revisions, COBRA poses even...
