See Recent Blog Posts or search the archive.
Many investors, both individuals and professionals alike, have certain tendencies. One of these tendencies is to trade in and out of the same set of securities, often because of the investor's familiarity with those securities and perceived improved sense of their value. A second tendency is to "sell low", which is the opposite of what many advisors may encourage you to do but is what so many investors do, including at the bottom of the recent stock market crashes. A third tendency is to "tax-loss" harvest, which is the practice of selling a sufficient amount of securities, held in a taxable account, to offset your capital gains and have $3,000 of additional capital losses, which is the maximum amount that you can deduct against your earned income in most circumstances.
Those who sign in a representative capacity on behalf of a corporation or other entity need to take note of the holding in Reginald M. Mudd et al v. Rexford L. Goostree, Jr. et al, Tennessee Court of Appeals Case No. M2012-00957-COA-R3-CV, decided April 5, 2013. In a suit to recover rent due and owing under a lease agreement in which a corporation was named as a tenant, the Tennessee Court of Appeals affirmed judgment in favor of a landlord against an individual who had signed a lease in the space of the signature box designated "Tenant." Even though the corporation was named as Tenant in the lease, at the signature box, Mr. Goostree signed as follows: Tenant: REX GOOSTREE, JR. by Rex Goostree, Jr. (italics where handwritten). The Court held that this was "a clear and unambiguous designation of [Mr. Goostree] as the Tenant on the lease agreement." The Court decided not to entertain other evidence of the parties' intent, indicating that "only if a contract is ambiguous does a Court look beyond the four corners of the document and consider evidence of the parties' intentions." Not only is Mr. Goostree liable for the lease and late fees, but also for the Landlord's attorneys' fees at trial and on appeal.
Under U.S. Copyright law, and particularly 17 U.S.C. § 109, the legal purchaser of a work protected by a copyright has been allowed to resell that work pursuant to the "first sale" doctrine. The buyer could not make copies and sell them, but could legally resell the original work.
In contrast, 17 U.S.C. § 602 mandates certain restrictions upon the importation in the United States of copyrighted works acquired outside the United States, without the authority of the owner of copyright.
Kirtsaeng had moved from Thailand to attend college in the United States. While attending college, and to lower the cost of textbooks, his family legally bought textbooks in Thailand, and shipped them to Kirtsaeng in the United States. Kirtsaeng then resold those books at a profit.
Comprehensive Immigration Reform is still at the beginning, but it is never too early to start preparing. While it is up in the air whether comprehensive reform will have a pathway to citizenship, we know that if there is a pathway there will be tough requirements to "earn" citizenship. With what we do know about any possible pathway, there are a few things that undocumented immigrants can start doing today to make things easier when and if reform passes:
Congress extended the IC-DISC benefits, although changes in tax rates beginning January 1, 2013 have somewhat diminished the tax savings.
Recent developments regarding comprehensive immigration reform in our nation's capitol are intriguing, but the plans are still in infancy and vague. On January 28, 2013 eight U.S. Senators, led by Sens. John McCain (R-Ariz.) and Chuck Schumer (D-N.Y.), unveiled the outlines of an immigration plan. The statement of principles is rather broad. It sets out "four basic pillars": 1) a "tough but fair path to citizenship . . . contingent upon securing our borders and tracking whether legal immigrants have left the country as required"; 2) reform our legal immigration system with a greater eye toward our economic needs; 3) workplace verification; and 4) setting up a system for admitting future workers. In essence, the eight senators acknowledge that the U.S. cannot deport the 11 million (or any substantial fraction thereof) undocumented immigrants. The outline can be found here: http://tinyurl.com/bfksdrp. The Senate Judiciary Committee is holding hearings on immigration reform in February, and some expect a bill in March 2013.
Lately, as an almost exclusive domestic law attorney, I hear questions as to whether child support is "fair". In this law firm, you will often times hear that the only thing fair in life is "fair skin, fair skies and the place you put your prized pig". It did not take long to figure out in this business that although the intentions of the law are to be fair to the parties, ultimately, it is rare, absent an agreement, that the parties feel they got a fair deal. Child support is one of those categories. With the divorce rate and children born out of wedlock rate, many people at least know of someone who has to deal with a child support issue, and/or are dealing with one of their own. Unfortunately, this knowledge typically influences new clients to feel like they know what is "fair".
Obama administration officials unveiled a new provisional unlawful presence waiver rule, ("provisional waiver") on Wednesday, January 2, 2013 that will make it easier for undocumented immigrants who are immediate family members of U.S. citizens to obtain legal permanent residence. The benefit of this rule change is that it will allow the American citizen relatives to avoid long separations from immediate family members, reduce hardship, and ensure family unity.
Now is a great time to be an immigrant entrepreneur in America. Immigrants are natural entrepreneurs and USCIS is hoping to encourage and harness their energy by creating a new initiative that will increase the job creation potential of employment-based and high-skilled visa categories. They have dubbed this program Entrepreneurs in Residence ("EIR"), which is an initiative that uses policy efforts within the framework of existing immigration laws to promote and help grow the U.S. economy and American jobs. The new USCIS outlook on this valuable group may lead to new laws that fix the ill-fitting organization of current Federal laws and policies across the agency.
Grant Konvalinka & Harrison, P.C., serves clients in Tennessee cities such as Chattanooga, Cleveland, East Ridge, Red Bank, Jasper, Collegedale, Athens, Decatur, Altamont, McMinnville, Manchester, Dunlap, Winchester, Fayetteville, Soddy-Daisy, Etowah, Dayton, Charleston, Tullahoma, Fort Oglethorpe, Dalton, Chatsworth, Calhoun, Summerville, Lafayette, Ringgold, Chattanooga Valley, Chickamauga, Tunnel Hill and Trenton.
Counties: Hamilton County, Bradley County, McMinn County, Sequatchie County, Grundy County, Franklin County, Coffee County, Warren County, Dade County, Catoosa County.