Most Recent Attorney’s Blog Posts

  • The Realities of Litigation
    For most people involved in a dispute, declaring the words “See you in Court!!” can seem like the perfect threat or even feel therapeutic at the least. Some even presume that by stating “I’m going to sue you” is like declaring nuclear war against the other side and the person or company that wronged you will certainly want to ‘settle’ because you have scared them with a lawsuit. However, people who have actually been participants in litigation soon realize that there is no such thing as “inexpensive litigation,” and many individuals, fueled by the passion of a person scorned, ... read more
    Source: KKOSLawyersPublished on 2017-06-27By Lee Chen
  • Self-Directed IRA Top Ten Frequently Asked Questions and Answers
    It’s finally here. My self-directed IRA top ten list of frequently asked questions. Whether you’re just getting started or you’ve been investing with a self-directed account for decades, make sure you know the answers to these ten questions. In most instances, I’ve linked to more comprehensive articles and videos I have on the subject. And of course, you could always crack open the best-selling book on the subject for even more information and detail, The Self Directed IRA Handbook.   1. What is a self-directed IRA? A self directed IRA is an IRA (Roth, Traditional, SEP, Inherited IRA, SIMPLE) ... read more
    Source: Mat SorensenPublished on 2017-06-20By Mat Sorensen
  • How to Donate to Charity and Beat the Tax Man
    I have a close relative who works in fund-raising for a fairly large university.  While he loves receiving large charitable donations in the form of immediately available cash or other marketable assets (such as real estate and publicly-traded stock), he knows that such donations are often simply not possible or practical for the average person.  This is why a huge buzzword in the world of fund-raising for non-profits is “Planned Giving.” What Is “Planned Giving”? Planned Giving is the present day legal commitment by a donor to give some assets or property to a charitable organization or institution at a ... read more
    Source: KKOSLawyersPublished on 2017-06-20By Jarom Bergeson
  • 6 Tax and Legal Tips When Investing in Real Estate
    Sir Francis Bacon put it best when he said, “knowledge is power”.  Not only does he have a great last name but he gives good advice that applies to all facets of life including investing in real estate.  Whether you are new to real estate investing, or a seasoned investor, before you rush off to make your first/next real estate investment, consider the following tips all of which are to help you be strategic about investing in real estate the right way for your situation, i.e. knowledge is power.  With that in mind, here are six tax and legal ... read more
    Source: KKOSLawyersPublished on 2017-06-06By Kevin Kennedy
  • Roth Conversions: When You Should Convert Your IRA or 401(k) to Roth?
    Many Americans wonder when they should convert their IRA or 401(k) to Roth? If you have a traditional IRA or 401(k), then that money grows tax-deferred and you pay tax on the money as it is drawn out at retirement. On the other hand, Roth IRAs and 401(k)s grow and come out tax-free at retirement. Who could argue with that? Yet, most Americans have been sucked into traditional IRAs and 401(k)s because we get a tax deduction when we put the money in a traditional account, saving us money on taxes now. For more on the differences between Roth IRA and ... read more
    Source: Mat SorensenPublished on 2017-05-29By Mat Sorensen
  • What You Should Know about Administering a Family Member’s Estate
    Most of us will, at some point in our lives, be called upon to administer the estate of a departed family member or loved one. While it may seem like an honor to have been entrusted with this responsibility, the reality is often it is a thankless, time consuming job, and even more so if there are disagreements and disputes among the heirs or beneficiaries of the deceased. Being asked to shoulder the responsibility of administering a decedent’s affairs while still mourning their loss can be challenging. The precise rules and procedures that apply will depend on whether the decedent ... read more
    Source: KKOSLawyersPublished on 2017-05-23By Lee Chen
  • Feds Make Change to Help Entrepreneurs Raise More Money
    Your federal government has modified rules making it easier to raise more money from so-called “unaccredited investors”. Under the updated rule, known as Rule 504, you can raise up to $5 million from unaccredited investors in a 12-month period. Prior to the 2017 update, you could only raise $1 million from unaccredited investors. The updated $5 million cap is available under Rule 504 offerings and should only be used when the offering is a private placement memorandum offering (“PPM”), where you aren’t marketing the offering to the general public but privately to know persons and contacts. The new $5 million ... read more
    Source: KKOSLawyersPublished on 2017-05-09By Jarom Bergeson
  • Owner’s Liability After Your LLC is Closed or Dissolved?
    Many business owners wonder whether their LLC will protect them from claims and liabilities after their LLC is closed. Does the limited liability protection of the LLC still apply? Does it only apply for claims when the LLC was active? What about after the LLC is closed or dissolved? What if the claim is about something that arose when the LLC was in good standing but was something you never knew and filed after the LLC is dissolved? Here are a five tips that answer these questions and that will help you decide when to dissolve your LLC. First, when ... read more
    Source: KKOSLawyersPublished on 2017-04-25By Kevin Kennedy
  • What Being Dragged Off a United can Flight Teach Us about Contract Law?
    Unless you’ve been in a coma for the past week or so, you’ve probably seen the cell phone camera footage of airport police dragging a kicking and screaming Dr. David Dao off a United Airlines flight at Chicago’s O’Hare Airport last week. At this point, the story is well known.  United needed to get four additional flight crew employees on Dr. Dao’s flight, so they asked paying customers to give up their seats voluntarily, for increasing levels of compensation.  When there were no takers, United selected four passengers “at random” for involuntary removal from the flight.  Dr. Dao was one ... read more
    Source: KKOSLawyersPublished on 2017-04-18By Jarom Bergeson
  • What Do I Need to Know About Title Insurance
    We all know that title insurance is a necessity when purchasing real estate, but many do not have a sufficient understanding of what title insurance is really for and steps we can take to deal with title insurance companies to prevent being embroiled in a title dispute. Litigating title disputes can often be long, expensive, and often difficult to predict the outcome with any certainty. For that reason, having a solid grasp of what title insurance can do and cannot do is important for any would be purchaser of real estate. The condition of title is one of the most ... read more
    Source: KKOSLawyersPublished on 2017-04-04By Lee Chen
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