Recent content by Tax Counsel

Note, too, that on August 10, the U.S. government proposed to the Soviet Union that the two nations divide Korea among them at the 38th parallel, a proposal that the Soviet Union accepted (much to the surprise of some in the U.S. government). That announcement foreshadowed to the Japanese what...

It wasn't just the atomic bombs that caused Japan to surrender, though that is the popular perception in the U.S. It was also the declaration of war by the Soviet Union against Japan. That declaration occurred on August 8, 1945, exactly three months after the formal surrender of Nazi Germany...

If the trustee for the trust has not done so already, he or she should open a bank account for the trust. The trustee will need to get an Employer Identification Number (EIN) from the IRS to do that. The EIN is the tax number the IRS assigns to every taxpayer other than individuals, regardess of...

In many states most employment "contracts" imposed in this manner are not enforceable. If you are considering leaving your job, have that reviewed by an employment law attorney. I suspect that some of it, and perhaps all of it, is not enforceable in your state. Why do employers do it anyway...

Also, at first I thought that the Spiderman at the movie must be a somewhat young American with the frequent use of the word "dude". Turns out that many languages have a word that can at least loosely be translated as "dude".

Preteen boys in particular have always seemed amused by fart jokes. A lot of men still find some of them funny (not all the jokes that the kids find funny appeal to adult) channeling a little of their preteen years. There are many versions of the following "I'm at that age where my mind still...

Their routines stand up (I'm being punny today) as well now as they did nearly a century ago. George Burns along with his wife, Gracie Allen, made for a delightful team. Like many of the entertainers of their era they were skilled in many areas, like film, vaudeville, but especially radio and...

That's one of the ways to help keep dementia at bay. Keep learning, keep exploring, keep the mind active. Law school is definitely stimulating and a challenge at any age. It doesn't sound like she has any interest in practicing law. There are, however, many other things for which a legal...

Time for you to get an attorney, I think. The notation in the record "CASE ACTION: DELINQUENT WARN BW AMT: PLEA" generally indicates you missed a court date and that court has issued a warning that a bench warrant will be issued unless you promptly go to court and enter a plea on the charges...

It's a little hard to imagine that big of a tongue fitting easily in the mouth without rolling it backwards. I'd guess he pretty much has a little of that tongue out all the time. But I can see an advantage to the long tongue. When racing for the food, the dog whose tongue reaches the food first...

All the IRS needs to know is a good address for him. Federal income tax applies the same regardless of where you live. It's the states and DC that want to know if he's a resident for part of the year (less than 183 days) or a resident (183 days or more). They'll all assume he qualifies as a...

Yes, that would help cut the expenses. DC is certainly not as expensive as living in Manhattan. The TV show "Friends" was terrific, but painted an unrealistic picture of affordability with 6 young people, most of whom weren't pulling in a lot of money, getting to live in the nice large...

Although IRC § 2036 does mention trusts, it is not common to transfer a piece of property to a trust with a reservation of a life estate. You certainly wouldn't do it for tax purposes. A revocable living trust would accomplish the same tax result and provide more flexibility to the grantor than...

Correction: Congress doesn't make it easy. All the rules for dependents are set out in Internal Revenue Code (IRC) section 152. The rule is a bit complicated because when the rule was simple a lot of people abused it, so Congress tightened the rules to stop that abuse.

In order for him to qualify as your dependent under the qualifying child test for federal income tax purposes, all of the following conditions must be met: (a) the relationship condition is met because he's your son. (b) your home must have been his principal place of residence for more than...