News & Updates

Recent Developments That May Affect Your Tax Situation

The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. IRA rollovers to be limited. As discussed in our last

The Toughened One-Year Wait Period Between IRA Rollovers

This newsletter is written to let you know about an important change in the rules for IRA rollovers, which are transactions that let you withdraw cash from one IRA and redeposit it in another IRA without paying a current tax.

Supreme Court: Severance Payments Are Subject to FICA Tax

SUPREME COURT: SEVERANCE PAYMENTS ARE SUBJECT TO FICA TAX U.S. v. Quality Stores, Inc., et al, (Sup Ct 03/25/2014) 113 AFTR 2d ¶2014-604 In a unanimous decision (with Justice Kagan recused), the Supreme Court, reversing the Sixth Circuit Court of

Don’t Overlook Tax Breaks For Grandparents Raising Their Grandchildren

More and more individuals who thought their child-rearing days were over are now raising their grandchildren. The U.S. Census Bureau has found that the number of grandparents whose grandchildren younger than 18 were living with them in 2010 was 7

What’s New For 2014 — A Roundup of Tax Changes Effective This Year

There are many important tax changes taking effect in 2014. They are the result of tax legislation enacted in prior years, or are triggered by effective dates in regs, rulings and other guidance. Also, a number of important final regs

Despite Higher Tax Rates, S Corporations Retain Advantage Over C Corporations

After recent tax changes, owners of small businesses face a question: Should the business continue to function as an S corporation, or should the entity revoke its election under Subchapter S of the Code? In this newsletter, we explain that

Recent Developments That May Effect Your Tax Situation

The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Delayed Start Date for 2014 Tax Filing Season. In October

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Ten Rules On How To Fire An Employee—And Not Get Sued

1. Document the employee’s personnel file. In most employment lawsuits, the fundamental claim of a discharged employee is that he or she was treated unfairly. Most often, this involves an allegation by the ex-employee that he or she had no

Drafting Executive Employment Agreements That Work For Employers

Employment agreements are enforced under state law. So it is vital to understand which state law is applicable to the contract. One way to avoid uncertainty on the issue is to state in the agreement what particular state law governs,

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Breach of Contract Litigation in Alabama: An Overview

Published by Gregory A Brockwell, partner at Lietman, Siegal, Payne & Campbell, click here for a thorough overview of contract law and contract litigation issues in Alabama. Includes explanation of the elements of a contract, the elements of breach of

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