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- IRS Assesses Another 150% Civil FBAR Penalty
by Brown, PC
The IRS has asserted multiple maximum civil FBAR penalties against Ashvin Desai, who failed to disclose the existence of offshore accounts or report interest income from the accounts on his tax returns. Desai, a sixty-four year old born in Mumbai, India, was sentenced last week to six months of imprisonment in his criminal trial.
- 6 Circumstances Where an LLC or Corporation Won’t Provide Asset Protection for Personal Wealth
Many business owners establish their enterprises as a limited liability company (LLC) or corporation for asset protection purposes.
- How to Safeguard the Liability Protection of Your Florida LLC
A majority of new business entities in the U.S. are formed as Limited Liability Companies (LLC) to provide business owners with a shield from personal liability.
- Estate Planning: Choosing Per Stirpes or Per Capita Distributions
“Per Stirpes” literally means “by roots or stocks; by representation” and is used interchangeably with “right of representation” by estate planning attorneys when referring to a particular method for distributing assets of a decedent. Another common method for distributing assets is referred to as “per capita”. Using ther method, each member of the same generation of a decedent will receive an equal share of the decedent’s estate.
- Benefits of a Financial Power of Attorney
Many of our estate planning clients have heard about a Financial Power of Attorney but are not clear as to why they should have one or how they might benefit from having this legal document. At the outset, it is important to consider, “Who takes care of my financial interests if I become incapacitated and unable to handle my own financial affairs?”
- What if I Ignore a Florida Credit Card Lawsuit?
After served with a Florida Credit Card lawsuit, depending on the balance alleged by the creditor or debt buyer, the Defendant has to either: File a written response to the lawsuit within 20 days (balance over $5,000), or Attend a small claims pretrial/mediation conference (balance under $5,000).
- Florida Parents Seeking Divorce May Find Mediation Helps Them Find Common Ground
Florida parents who can navigate their way through the process of divorce in as friendly a manner as possible can demonstrate to their children that people with major differences can put their feelings aside and negotiate a settlement that benefits both parties.
- 5 Common Debt Buyer Lawsuit Defenses
In addition to each of the defenses available in an original creditor lawsuit, debt buyer lawsuit defenses include standing, limited admissibility of documents, conditions precedent, and additional damages under the FDCPA.
- 5 Common Defenses to a Credit Card Lawsuit
Five Common Defenses to a Credit Card Lawsuit include reviewing consent orders, inconsistencies, contract amendments, counterclaims, and payment plans.
- How Does U.S. Law View Offshore Bank Accounts?
Perhaps you are one of the fortunate few who has achieved a level of wealth where you are legitimately concerned that the ebb and flow of the U.S. economy could have a dramatic effect on your personal finances. Or, perhaps, you have heard that there are ways to avoid certain taxes if you keep your money offshore.