Archive for October, 2009
Execution of a Florida Deed in a Foreign Country
A deed conveying Florida property can be validly executed outside the United States provided it has the following: The signature of the owner of the property or the owner’s authorized representative (for example, the officer of a company or the attorney-in-fact of an individual); The signatures of at least two unrelated and disinterested witnesses; and [...]
Deduction for Charitable Contributions by S Corporation
When a charitable contribution is made by an S corporation, the right to claim the charitable deduction passes through to the S corporation shareholders. This is significant because charitable deductions claimed by a corporation (that is, a C corporation) is limited to 10% of their annual net income (with carryover for up to 5 years). [...]
Estate Tax Update
Last week’s Wall Street Journal included Laura Saunder’s good, concise article: Will the Estate Tax Disappear? The article is short and worth reading, but here are the points I find most important: • Elimination of step-up in basis at death–which is tied to elimination of the estate tax in 2010 under current law–would impact a [...]
10 Things About Owning a Business
THE MUST-HAVE. Don’t go into business with others unless you have an owners’ agreement. You can’t see the future, and you can’t be certain that you and your business partners (or their spouses or heirs) will always agree on everything. WHY SO FORMAL? Company formalities are important to limiting your personal liability for the company’s [...]