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Side Hustle Income: Does a C-Corp Make Sense?

Side Hustle Income: Does a C-Corp Make Sense?

By Kevin L. Kennedy, Esq. Let’s say you have a day job working for someone else, but you’re also trying to start a side business.  You hope that one day you can leave your ‘day job’ and work for yourself full-time.  Maybe this sounds familiar to you. Your first...

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CA’s New Statewide Rent Control Law

CA’s New Statewide Rent Control Law

Lee Chen, Esq. On October 2, 2019, California enacted the AB 1482, representing the most comprehensive reform of California landlord-tenant laws in decades.   The law, which essentially imposes “rent control” provisions for certain rentals in California, officially...

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What Tax Law is Haunting NYC?

What Tax Law is Haunting NYC?

Deven L. Munns, Esq. New York City has a lot to offer when it comes to world-class entertainment, dining, and sightseeing: Rockefeller Center, the Museum of Natural History, the Brooklyn Bridge, Time Square, and Broadway! However, unbeknownst to visitors to this...

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Real Estate Syndications 101

Real Estate Syndications 101

While syndications may also be done to purchase a portfolio of multiple properties or perhaps even unidentified properties that fit a certain profile, the most common syndications involve the purchase and/or development of a single specific piece of real estate.

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What is an Accredited Investor and Should I care?

What is an Accredited Investor and Should I care?

Accredited investor status has nothing to do with investing education or experience.  It is determined either by your net worth or your income.  The SEC’s thinking is that if you have a fair amount of money or have demonstrated the ability to make a lot of money, then they are less concerned about you losing some of your money in a more loosely regulated private offering.

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What are My Options If I Disagree with the IRS?

What are My Options If I Disagree with the IRS?

The IRS is generally perceived as the omnipotent “big brother”, however that does not mean you do not have rights if you disagree with the IRS. There are several administrative procedures available to you when and if you disagree with an IRS determination.

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Estate Planning Lessons from the Rich and Famous

Estate Planning Lessons from the Rich and Famous

We believe everyone needs to have an estate plan.  Contrary to popular belief, an estate plan is not just for the rich and the powerful, and even people with little or no assets can benefit from having an estate plan.  A properly prepared estate plan not only...

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What are my options when all the money I invested is gone?

If you sense that something may be amiss on deck, don’t sit back and just hope the ship will right its course or you may lose out on valuable rights that exist to protect you, the investor. Get a consult with an attorney immediately and start to have a fall back plan and frankly an ‘attack plan’ if it’s necessary.

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What is a Qualified Opportunity Zone Fund?

What is a Qualified Opportunity Zone Fund?

What is a Qualified Opportunity Zone Fund? Here's the short version, it's a new break that allows you to re-invest gains from any assets (real estate, stock, etc.) into qualifying go-zone funds. You get both tax deferral and some tax reduction as a result of the...

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Asset Protection and Your Short Term Rental

Asset Protection and Your Short Term Rental

The explosion of the sharing economy and in particular short term rentals offers real estate investors a lucrative opportunity to generate increased cash flow.  However, with new opportunities come with new risks and nothing can be further from the truth when it comes...

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Maximizing LLC Asset Protection and Charging Orders

Maximizing LLC Asset Protection and Charging Orders

LLCs are frequently used to hold assets because of the availability of charging order protection against outside liabilities. Both LLCs and corporations provide asset protection for “inside liabilities,” that is, if a liability is created inside by that entity (e.g....

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Who Should be the Beneficiary of Your Life Insurance?

Who Should be the Beneficiary of Your Life Insurance?

Life insurance is an integral part of financial and estate planning for many.   In most cases, people purchase life insurance in order to protect their spouse, children, and/or others who are financially dependent on them from becoming indigent in the event they die....

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The NCAA, Trademarks, and Your Business

The NCAA has trademarked over 70 slogans, should your business have at least one trademark? If you were to take a look at my undergraduate and law school transcripts, you’d notice one fairly obvious pattern – my grades were always better during Fall Semester than...

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Making the Most From Your Home Inspection

Making the Most From Your Home Inspection

One of the most important due diligence items for buyers of real estate is the home inspection. Whether you plan to live in the home or whether you plan to hold it as a rental, it's a big investment and one you want to make sure you're not overpaying for or that...

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Purchasing Homeowner's Insurance- Strategies & Pitfalls

People who have read Mark Kohler’s Lawyers are Liars know that our philosophy with respect to asset protection is the “multiple barrier approaches” to put as many barriers as you can between you and someone who would sue you.  For owners of real estate, one of primary...

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Five Benefits of the Solo 401K

For many Americans, saving for retirement is like exercising or eating healthy, we know we should do it but most of us don’t.   In fact, a survey published by the Washington Post reported that over 70% of Americans are not saving enough for retirement and a study by...

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Estate Planning 101: 5 Tips to Avoid Mistakes

As I work with small business owners and investors throughout the year, I want them to see the big picture when it comes to Estate Planning. Many misunderstand what the Estate Plan is all about and think it's simply an 'asset protection' strategy...that couldn't be...

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