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    IRS issues 2016–2017 special per-diem rates for travel
    Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses, starting Oct. 1 (Notice 2016-58). The IRS on Tuesday provided the 2016–2017 special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates […]
    Should Landlords Set Up an LLC for a Rental Property?
    If you own rental property, you’ve probably wondered about forming an LLC, a limited liability company. Although there isn’t one answer that applies to all landlords, there are some compelling reasons to form an LLC and some reasons not to. Below are the views. LLCs Protect Your Assets The main reason people set up LLCs is […]
    What Is a Defective Irrevocable Trust?
    In a trust, a trustor transfers title of his property into the name of the trust for distribution to beneficiaries at the time of death. Many families choose this option in order to avoid the costs of probating a will, as beneficiaries receive trust property upon the trustor’s death and court supervision is not required. […]