Yearly Archives: 2006
Who Needs Title Insurance?
Purchasing a home is one of the most important investments that an individual may make during his or her lifetime. For many, the experience is extremely stressful. One reason the process is so stressful is that most people are not familiar with it. … Continue reading
IRS Issues Notice That It Will Focus Its Microscope On S-Corps
Due to the phenomenal growth of S-corporations over the past 20 years, the IRS has recently announced that it is getting ready to measure S-corp and shareholder compliance. In its announcement, the IRS indicated that it would randomly select for examination 5,000 S-corp… Continue reading
A Landmark Eminent Domain Ruling
The U.S. Supreme Court has recently rendered several important decisions, none of which raised eyebrows as much as a Connecticut case. The city of New London had formulated an economic development plan which was intended to revitalize the City and which involved the… Continue reading
Special Exception and Variances
A client recently called to inquire about the difference between a special exception and a variance in zoning law. A special exception is a permitted use under the zoning ordinance so long as the conditions for its availability stated in the… Continue reading
The Queen’s English — Oh, I Already Said That!
One of the most common failings is the redundant phrase, i.e., using words in a single phrase which have duplicate meanings. Public speakers may do it for the sake of emphasis, but more often the bet is they think that the use of… Continue reading
Bankruptcy: A Brief History and the New Law
In October 17, 2005, the new bankruptcy law went into effect; it affects individual filers, large and small, corporations and creditors. The new law marks the biggest change to bankruptcy law since 1978, and prohibits some people from filing for bankruptcy entirely. The word… Continue reading
Post-Closing Tax Bill for Newly Constructed Residence
Most individuals need to obtain a mortgage in order to finance the purchase of a home. Typically, the monthly mortgage payments will include one twelfth of a homeowner’s real property and school district taxes. To provide for the payment of real property taxes… Continue reading
To Be Considered: The Roth-401(k) Plan
Several years ago, anticipating the burgeoning elderly population and to encourage people to create their own pension funds, Congress created the Investment Retirement Account (“IRA”) and a similar plan popularly called the “401(k) plan”; subsequently these were followed by a plan which has been designated… Continue reading
Beware That Uninsured (Extra) Car
Do you have a classic or “fair weather” car that sits in the garage all winter? Do you keep it insured over the winter months, or do you let the insurance lapse or discontinue coverage because the vehicle is not in use? Careful!… Continue reading
Hybrid Cars: Cost vs. Benefit
Several months ago we ran an article on the tax benefits available with the purchase of hybrid automobiles, which run on gasoline and electric battery power. While there may be certain tax benefits available, the total economic benefit may not be… Continue reading