by Lommen Abdo | Mar 1, 2018 | Employment Disputes, News, Tax
A deep look into the new Tax Act reveals a significant change in existing law regarding the deductibility of confidential sexual harassment settlement payments and attorney’s fees. Previously, settlement payments (for defendants) and the attorney’s fees necessary to...
by Michael R. Moline | Oct 31, 2017 | Commercial Litigation, Construction Law, Insurance, Litigation, Michael R. Moline, News, Tax
What is your experience? [Transcript] What should I expect if my home or business is damaged by fire, hail or a storm? [Transcript] What is property damage insurance appraisal? [Transcript] View all of the videos from this Q&A by...
by Sara N. Wilson | Oct 14, 2017 | Business + Corporate Law, Closely Held or Family Business, News, Real Estate, Sara N. Wilson, Succession Planning, Tax
Farmers Were Not “Farmers” for Purposes of Conservation Easement Charitable Deduction Rutkoski v. Comissioner, 149 T.C. 6 (August 7, 2017). THE PARTIES: Mark Rutkoske and Felix Rutkoske are brothers who engaged in a farming operation through various business entities...
by Lommen Abdo | Jun 2, 2017 | Estates + Trusts, Tax
Governor Dayton has signed the 2017 tax bill which will increase the Minnesota estate tax exemption from its current level of $1.8 million to $2.1 million for individuals dying in 2017. The legislation also adjusts the estate tax exemption in subsequent years;...
by Robert P. Abdo | Apr 11, 2016 | Robert P. Abdo, Tax
Introduction Almost three years ago, we authored an article that discussed how recent Minnesota tax law changes, coupled with several Minnesota Tax Court decisions favoring an expansive definition of “resident” for income tax purposes, might force some individuals to...
by Lommen Abdo | Nov 9, 2015 | Tax
The federal estate and gift tax exemption will increase to $5,450,000 in 2016 (up from $5,430,000 in 2015). This is the total amount a person can gift during their lifetime and leave to others at death. Together, a married couple can shelter up to $10.9M. The federal...