News & Updates

Employee or Independent Contractor? Know the Rules

  July 15 2017 Newsletter   The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor.   An employer must withhold income taxes and

Protecting Your Estate-Tax Exemption

  July 15 2017 Newsletter   Even though the federal estate-tax exemption is $5.49 million, just a tad shy of $11 million for a couple, you still need to think carefully about whether to pass that “exempt” amount of wealth

6 LSP Lawyers Listed in The Best Lawyers in America© 2017

Six of LSP’s lawyers have been recognized in The Best Lawyers in America© 2017: Jack Payne: Employee Benefits (ERISA) Law and Trusts and Estates Don Siegal: Real Estate Law Phil Stutts: Real Estate Law Sid Philips: Corporate Law and Tax Law

LSP Attorneys Named “Top Lawyers” by B-Metro Magazine

Congratulations to Don Siegal, Lynne O’Neal, Suzanne Paulson, and Greg Brockwell for being named “Top Attorneys” in the March, 2016, issue of Birmingham’s B-Metro Magazine: 2016 B-Metro Top Attorneys

“The Limitations of Limited Liability,” a new article by Brockwell and Boulter

The Birmingham Bar Association’s latest issue includes an article on “The Limitations of Limited Liability” by LSP attorneys Greg Brockwell and Andrew Boulter.  The article discusses the circumstances in which a member or manager of a limited liability company may

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

LSP News