The recent Tax Court case Estate of Anne Milner Fields v. Commissioner underscores the risks involved when transferring assets to a family limited partnership or family limited liability company close to death. Approximately a month before Anne Milner Fields died,
O'Neil, Cannon, Hollman, DeJong & Laing S.C. Blogs
Latest from O'Neil, Cannon, Hollman, DeJong & Laing S.C.
What to Expect for Tax Policy in 2025 After Trump’s Election Victory
The recent election of Donald Trump as president signals potential changes to the U.S. tax code in 2025. Some anticipated adjustments align with Trump’s proposals to extend or expand certain cuts from the Tax Cuts and Jobs Act of 2017,
2025 IRS Tax Adjustments: What You Need to Know
The IRS has released inflation adjustments for the 2025 tax year, bringing changes to tax brackets, deductions, and credits that may affect taxpayers across income levels. Here’s a quick overview of the updates:
Income Tax Brackets
Tax brackets will
What is the Difference Between a Private Foundation and a Donor-Advised Fund?
When high-net-worth individuals and families incorporate charitable giving into their estate planning, they often consider donor-advised funds and private foundations as vehicles for managing their philanthropy. Both options have unique advantages, and the choice depends on the donor’s goals, level
A Beginner’s Guide to Trademarks: Part Two—USPTO Trademark Application Requirements
Submitting a valid trademark application to the United States Patent and Trademark Office is a straightforward process with the right assistance. In general, submitting a successful application to the USPTO to register your trademark requires three central components.
Central Components
What Employers Should Do Regarding the Looming Effective Date of the FTC’s Non-Compete Ban
As discussed previously, the Federal Trade Commission published a rule banning “non-compete clauses” in almost all cases involving employees, independent contractors, externs, interns, volunteers, apprentices, and sole proprietors who provide services to a person.
The rule is currently
Navigating Trust Litigation: Insights from the Tony Bennett Case
Nearly one year after Tony Bennett’s death, his children are embroiled in a trust dispute. While Tony Bennett’s fame and prominence are unique, the nature of this dispute is common. In the filing, Tony Bennett’s two daughters accused their brother,
Employment LawScene Alert: FTC Bans Employee Non-Competes, but Legal Challenges Expected
The administrative agencies are having a busy week! In addition to the DOL issuing an updated rule on the salary basis to be overtime exempt, on Tuesday, April 23, 2024, the Federal Trade Commission voted 3-2 on its long-awaited non-compete
Employment LawScene Alert: DOL Issues Final Overtime Rule with Significant Salary Threshold Increase
Under the Fair Labor Standards Act, non-exempt employees are entitled to overtime pay at 1.5 times their regular rate for all hours worked in a workweek in excess of 40. In order to be considered exempt, an employee must be
A Beginner’s Guide to Trademarks: Part One—Trademark Basics
What is a Trademark?
A trademark can be any mark representing words, phrases, symbols, designs, or a combination of these that identifies your goods or services. In practice, the most common trademarks are business names and logos. Trademarks accomplish several