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How long should you keep your tax records? IRS issues updated guidance

How long should you keep your tax records? IRS issues updated guidance

One of the “small talk” questions which I receive often is this very question: namely, how long are you and I required to keep copies of our tax returns and related records?   Yesterday, the IRS issued a statement which generally seems consistent with past practices (at least according to my understanding), with perhaps a […]

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Its conversational, but not really controversial–Clinton wins popular vote but not presidency

Its conversational, but not really controversial–Clinton wins popular vote but not presidency

This is exactly what the Founding Fathers intended. Relax people. We are witnessing the smooth operation of our Constitutional form of government. New York Times, CNN, LA Times and other big media outlets are going crazy with stories about how Hillary Clinton will likely win the popular election, but lose the presidency. How can this […]

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The value of knowledge and experience–this applies in all areas of life

The value of knowledge and experience–this applies in all areas of life

Do you and I appreciate the importance of experience and expertise?  In this internet age, it is quite easy for us to believe that Google can make us an expert on just about anything.  While I am as much a fan of Google and other internet resources as the next person, I see quite often the […]

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Buy-Sell Agreements: Mistakes to Avoid (Part 2)

If you are in business, you almost certainly need to consider some sort of buy-sell arrangement. Don’t take my word for it, listen to the contributing writers are Forbes.com.  Though this article is not new, the applicability of the February 2011 article by Robert W. Wood, titled “In Business, Get a Buy-Sell Agreement!” has not […]

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Business Buy-Sell Agreements: Mistakes to Avoid (Part 1)

Business Buy-Sell Agreements: Mistakes to Avoid (Part 1)

If you are the owner of a family business or other closely held business, not having a buy-sell agreement may be a big mistake. Let’s get this out of the-way–I am a business law attorney who gets paid to work on things like buy-sell agreements.  Therefore, it is no surprise that I am talking about why […]

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C.S. Lewis quote on happiness (happy Friday)

C.S. Lewis quote on happiness (happy Friday)

“Don’t let your happiness depend on something you might lose.” C.S. Lewis  

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the similarities between knives and powers of attorney

the similarities between knives and powers of attorney

Are knifes dangerous or useful instruments? That depends on how they used and for what purpose (and by whom). Most of us would not see a typical kitchen knife and immediately have feelings of panic and fear.  We understand that kitchen work often requires the use of knives.  And it is difficult in most instances to prepare […]

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lane closed ahead–what our driving may say about us

lane closed ahead–what our driving may say about us

How you drive probably says a lot about you in many other aspects of your life. I spend a lot of time on I-15 driving to and from Salt Lake City.  I therefore get the chance to observe many drivers on a regular basis.  Yesterday was another such opportunity and while waiting in a long […]

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who can access your e-mail? (status of laws relating to digital assets)

who can access your e-mail? (status of laws relating to digital assets)

At the moment, you likely don’t want anyone (other than perhaps your significant other) to have access your e-mail, social media, online bank account, i-tunes and/or any of a number of other online accounts.  If something were to happen to your parent, your spouse, your child or other family member, you might need to access that […]

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phantom equity–what and why?

phantom equity–what and why?

Phantom equity, as the name indicates, has some attributes which are similar to actual equity ownership, but also has key differences. In many cases, phantom equity can be a win/win for both business owner and employee. To summarize, phantom equity gives the key employee (or several) the economic equivalent of being an owner, but without […]

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