One of the most important concerns for an investor is his or her personal liability for debts incurred by the business enterprise. The investor usually realizes that losses sustained by the business may wipe out the amount invested; the concern…
The IRS rules and regulations concerning the taxation of foreign currency transactions are very complex. However, where the taxpayer is an individual, as well as for many partnerships, corporations and limited liability companies, the basic rules are as follows: 1.…
What is a "Confirming Letter?" As you might guess, it is a WRITING that confirms some point or agreement that you have reached with another party based on a verbal communication. In this day and age, it is most likely…
A client who I will refer to as "Tax Payer" or just "TP" (for short) was referred to me in early 2013. TP had not paid taxes since 2004. TP owed approximately $10,000 in taxes for 2005-2010. TP did not…
Ok. I have touched on the definition of what constitutes an independent contractor vs. an employee in prior articles. Still, so often there is so much riding on whether a worker is characterized as an independent contractor or an employee,…
When I graduated law school in 1990, Joint Ventures (JV's) were really hot. Seemed they were everywhere, in every business sector from entertainment to healthcare to real estate development. To me just saying the words "joint venture" is kind of…
"A rose by any other name would smell as sweet" is a commonly quoted part of a dialogue in William Shakespeare's play Romeo and Juliet, in which Juliet argues that the names of things do not matter, only what things…
Well, I am off to Nepal again. This will be my fourth trip. My wife, Stephanie Waisler-Rubin, is the founder of the Unatti Foundation (www.unattifoundation.org). I have the privilege of serving as the General Counsel of the foundation. And a…
Benjamin Franklin said, "The only things certain in life are death and taxes." Right again Ben. Recently I was contacted by an individual who told me he had started to win a lot of money playing fantasy football. He wanted…
Xenophobia. I have always loved that word. Just saying it makes me feel smarter. My handy Webster's dictionary tells me it means "fear or hatred of strangers or foreigners." I know we are taught not to take candy from strangers.…