TAX BENEFITS: UTILIZING A LIMITED LIABILITY COMPANY IN A REAL ESTATE VENTURE.

Date Published: Feb 09 San Francisco Business Times A limited liability company (LLC) combines certain advantages of corporations and partnerships. Like a corporation, an LLC and its members may enjoy asset protection benefits and personal liability protection from its creditors. For taxation purposes, the IRS classifies an LLC as a...

IS THERE SOME TAX RELIEF AVAILABLE FOR THE VICTIMS OF BERNARD MADOFF?

Date Published: Jan 2009 San Francisco Business Times Recently, it was discovered that Bernard Madoff was operating a Ponzi scheme that victimized numerous high profile investors. A Ponzi scheme is a fraudulent investment operation that pays returns from money received by subsequent investors rather than from any profits or earnings...

Now Since Switzerland has Lost its Status as a Secrete Tax Haven, Should the Holders of Secret Swiss Offshore Accounts Rush to Confess to the IRS?

On June 30, a federal court in Fort Lauderdale authorized the IRS to serve a civil summons on the Swiss banking giant UBS, demanding the names of approximately 19,000 U.S. clients who apparently hold offshore bank accounts. UBS has yet to comply with the court order. However, the banking giant...