Read our blog posts for a summary or commentary on current Asset Protection news and topics.
Tuesday, July 8th, 2008
Following the indictment of several UBS AG (Switzerland) employees, the Justice Department requested permission from federal court to have the Internal Revenue Service issue John Doe summons to UBS AG (the Swiss parent of UBS). The John Doe summons will instruct the Swiss bank to provide to the IRS...read more
Saturday, May 31st, 2008
A recent Wall Street Journal has an article entitled Property Investors Fear Gains-Tax Rise, Shift 1031 Strategy.
Read the article here: http://online.wsj.com/article/SB120528549398629221.html
Anticipating a change in the administration and an increasingly Democratic Congress, real estate...read more
Sunday, May 18th, 2008
The State of New York has passed a new law scheduled to go into effect June 1, 2008, requiring internet retailers to collect sales taxes. The new law is expected to generate an additional $78 million of revenue per year for the state. Several other states, including California, are considering...read more
Wednesday, May 7th, 2008
The big tax news this month was the Justice Department’s loss in the Wesley Snipes case. Snipes has been cleared of federal tax-fraud and conspiracy charges, but was convicted on three misdemeanor counts of failing to file a tax return. He now faces up-to three years in a prison for the misdemeanor...read more
Thursday, April 17th, 2008
In response to Sen. McCain’s proposed tax plan an article in today’s Washington Post (McCain’s Plan for Working Class Offers Plenty for Corporate World) blasted the tax plan as pandering to corporations and businesses. The cry was picked up by several other publications as well. What is the...read more
Thursday, March 20th, 2008
Following the credit crunch of August 2007, the real estate market has experienced a significant decline. Many of our clients are heavily invested in real estate or are involved in various development projects. For them, the reality of the declining market means a lot more than an interesting...read more