Question: My spouse is not a U.S. citizen. Can I leave assets to her upon my death without incurring estate tax?
Question: I deal in cryptocurrency through my business. Customers sometimes pay me in Bitcoin and I sometimes use Bitcoin to pay suppliers. Will these transactions be treated as if payment was made in cash?
In the course of selecting noteworthy judicial decisions involving independent reps to feature in this column, some stand out as significant rep wins with legal principles worth sharing, some comprise notable losses from which lessons can be learned, and some, like the subject of this article, involve haphazard judicial rulings that can devolve into a hot mess.
Many sales representative organizations, like other businesses, are structured as limited liability companies (LLCs). The preponderance of LLCs with more than one member are treated as partnerships for tax purposes.
Question: As the owner of a pass-thru entity, can I benefit by paying my state’s new pass- thru entity tax?
Question: A few years ago, I individually loaned a friend a sizeable amount of money. Since there is no chance I will be repaid, can I report a tax deduction for the amount loaned?
Since December 2020, the federal government, beginning with the Equal Employment Opportunity Commission’s initial guidance on the subject, has made clear that mandatory employer vaccine requirements were permissible and did not violate Title VII of the Civil Rights Act of 1964, as amended, or the American with Disabilities Act, which we wrote about previously The ability of employer mandatory vaccine requirements has consistently been reinforced since that time.
With surprisingly little fanfare, Governor Pritzker recently signed into law amendments to the Illinois Freedom to Work Act (the “Act”), with the potential to impact all restrictive covenant agreements entered into on or after January 1, 2022.
Question: What is the most tax efficient way for me to put away a large sum for my grandchildren’s college education?
Akstrom Imports Inc. raised several interesting arguments in defense of the claims brought by Minnesota sales representative Kinneberg Management Group (KMG), including that, as a Canadian distributor, it was not subject to the jurisdiction of a Minnesota federal court. Even if it was, Akstrom continued, Canadian law still controlled, not Minnesota’s pesky sales rep statute.