Know your rights with vacation rentals
If you’re planning to rent a property for your next vacation or an extended stay, keep in mind that your rights as a renter vary depending on what state you’re visiting.
Miscellaneous
When sellers leave their junk behind
Ever toured a home and gotten a sneaking suspicion that the sellers were going to leave a lot of useless junk? If the seller intentionally leaves personal property behind, it could be considered “abandoned.” That means you now own all that stuff, and you’re on the hook for cleaning it out.
Homeowners: Are you leaving money on the table?
One common mistake that we see homeowners make is failing to take advantage of the “Homeowner Exemption” on their annual real estate taxes.
Like any real property, a home is subject to annual real estate taxes that are assessed and collected by local governmental authorities. Homeowner exemptions can
IRS settles abusive insurance schemes
The IRS recently offered settlements to a select number of taxpayers involved in what are known as “micro-captive” insurance schemes. Tax law generally allows businesses to create “captive” insurance companies to protect against certain risks. In abusive “micro-captive” structures, accountants or wealth planners con- vince owners of closely held entities to engage in schemes that … Read more
Land trusts provide anonymity, tool to avoid probate
A land trust is a private legal agreement that transfers a property title from the owner to a trustee. The trustee agrees to hold that title for the benefit of another party. The creator of the trust, known as the trustor, is typically the primary beneficiary for their lifetime. This party retains complete use of … Read more
Things to consider before renting a vacation home
Vacation rentals, whether near the ski slopes or on the beach, can be a great way to create memories with family and friends. It’s never been easier to find the perfect place at an affordable price thanks to websites like Airbnb and VRBO. As with everything else, though, there are potential legal issues you want … Read more
Legal pitfalls of crowdfunding campaigns
You have the next big idea and need some cash to make it happen. Crowdfunding campaigns, such as Kickstarter and IndieGogGo, can be effective ways to get a boost, offering contributors a reward in exchange for a financial contribution to the future of your business. Before you jump in, it’s important to be aware that … Read more
Opportunity Zones offer tax breaks
For a limited time, investors can help reinvigorate distressed communities while deferring capital gains on profits earned elsewhere. The 2017 Tax Cuts and Jobs Act created the Qualified Opportunity Zone program in order to offer tax incentives for investment in economically blighted communities. When you invest in an Opportunity Zone, you can defer and possibly … Read more
Charitable giving of appreciated Assets
In light of the increased basic standard deduction for income tax returns, many people whose annual charitable giving and other itemized standard deductions do not reach the itemization threshold are considering ways to continue to financially support their church or organization. One idea is for individuals to make a large gift of appreciated stock “in-kind” … Read more
Qualified Charitable Contributions
If you are age 72 (or turn age 72 this year), you are required to take minimum distributions (“RMDs”) each year from your regular IRA and you have to pay income tax on those distributions. However, individuals who choose to make qualified charitable distributions (“QCDs”) which reduce the amount they are required to withdraw by … Read more