Landowner Loses the Battle but Wins the War In one of the most controversial eminent domain decisions ever, the United States Supreme Court ruled in 2005 that a city’s exercise of its eminent domain powers to take private property in furtherance of an economic development plan satisfied the constitutional requirement that such power be used … Read more
If you could pay $10 and, in return, get a guard who would warn your family if your house caught fire, would you? Of course you would. Despite this, most people do not have enough smoke detectors in their homes–detectors that will stand guard over your family’s lives 24 hours a day. The evidence shows … Read more
Upon the death of the owner of stock in a closely held corporation, the fair market value (“FMV”) of the stock must be determined before an estate tax return can be filed. For gifts of such stock, it is also necessary to ascertain the value of the stock for gift tax purposes. Unlike publicly traded … Read more
The federal income tax deduction for the business use of a home has a good dollars-and-cents upside for those who qualify. Some detailed questions have to be answered correctly to get to that point, however. Not surprisingly, the IRS publication on the subject makes use of a complex flowchart filled with “yes or no” questions … Read more
By some accounts, a large majority of employees access the Internet on company computers for personal reasons while at work. The obvious adverse effects of this on productivity are only the tip of the iceberg with regard to the potential headaches that such activities can cause for employers. Personal Internet activity by employees can pose … Read more
Gary bought a house that he and his wife lived in for 26 years. When the couple separated, Gary moved out, but he continued to pay the mortgage for another four years until it was paid off in full. The loan was gone, but not the property taxes–they went unpaid when the mortgage company that … Read more
Among the kinds of conduct prohibited by the federal Fair Housing Act is the making of any statement with respect to the sale or rental of a dwelling that indicates a preference, limitation, or discrimination based on race, religion, sex, handicap, familial status, or national origin. The most common violators of this law are the … Read more
Federal estate tax law provides a method by which families can reduce the tax consequences of transferring the family home to the younger generation. The device for accomplishing this is called a qualified personal residence trust (QPRT). An individual may create a QPRT by transferring his or her residence to a trust (usually for the … Read more
When a natural or man-made disaster strikes, be it a hurricane affecting an entire region or a gas leak affecting one house, it is only natural and appropriate to think first of the very basics of life: safety, shelter, food, and water. But it also makes sense, in the quiet of normal daily living, to … Read more
With more and more tractor-trailer trucks on the roadways, it is prudent to be extra cautious when you encounter a big rig. Remember that a large truck has a large blind spot. If you are driving in the truck’s blind spot, the truck driver cannot see you. Either stay behind the truck or else pass … Read more