Copyright (c) 2009 Jeffrey Matsen I. Introduction Asset protection planning has been practiced by attorneys, financial planners and accountants for several decades. Business persons have always had concern over the exposure of their personal assets to claims against the business. The corporate form of business entity with its shield of limited liability has been invoked … Read more
That omission translates to a figure somewhere near 5 billion in taxes owed to the U.S. Treasury Department. With a budget deficit in the trillions and rising, the IRS is expected to increase its audits of both personal and business tax returns as well as pursue greater enforced collection action against individuals and businesses using … Read more
Vacation Homes have long been a source of angst among exchangers and their advisors because of the lack of guidance on whether they qualify as an investment property for IRC ยง1031 purposes. In the past, exchangers readily exchanged ‘second homes’ based on the claim that in addition to enjoying the vacation home personally, they also … Read more
The Basics of Stated Income Commercial Loans. Stated income commercial loans are loans that don’t require a mountain of paperwork or proof of your income. The only stipulations when applying for a stated income commercial loan are that one must have proof of employment, credit score of 650 or better and qualifying commercial real estate. … Read more
It is not uncommon to see many people today spending significantly beyond their means resulting in a huge debt load.. This attitude combined with the lack of knowledge about financial matters is the primary reason why most people these days end up in debt. For this reason we’ve seen a huge growth in the debt … Read more