◙ Taxation of Payments Received by Former Employee. Apropos to the checklist article is a recent ruling on tax consequences of structuring a settlement with a terminated employee. A former employee entered into a settlement with her employer relating to mental anguish and emotional distress from a claimed hostile work environment. The IRS held…
◙ Readers’ Comments: Qualified Joint Venture – May 2008 Recent Developments discussed CCA 200816030. For a husband and wife to make the election under Code Section 761(f) to avoid filing a partnership tax return, they must be conducting a “trade or business”. The IRS has indicated that the spouses must own the business…
Summary: The markets are in turmoil. Daily Dow movements make Cedar Point roller coasters look tame. The remake of the movie “Fast and Furious” will star a number of leading bankers. Lending sources have dried up for many. Tax, business, economic, investment matters are increasingly uncertain. How does this affect your planning? The bottom line…
Summary: With economic problems growing, you might be inclined to contract your business or professional practice. Unfortunately, there are a myriad of issues and problems with this seemingly simple task. This checklist reviews only a few of the many concerns you’ll face. (See Practical Planner April 2007 for a discussion of an employee’s perspective…