This past December President Obama signed into law the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act ( TRUIRJCA) extending the “Bush Tax Cuts” for two years. The 2010 Tax Act contained significant changes to the estate, gift, and generation-skipping transfer (“GST”) tax rules for 2011 and 2012. The most compelling estate planning opportunity […]
Proposed Senate Bill Sinks Policyholders with Legitimate Claims
Senate Bill 408 proposes a new Florida insurance law relating to property and casualty insurance for both homeowners and commercial policyholders.
What Is Nanotechnology And How Might it Affect The Economy And Individual Lives?
Nanotechnology and nanomaterials will play key roles in achieving Governor Rick Scott’s objective of making Florida “the premier location for cutting edge technology.” The 2010-2015 Strategic Plan for Economic Development, prepared by Enterprise Florida, identifies nano manufacturing technologies as one of those technologies that will have a significant impact on new products, businesses, and jobs. […]
Growth Management In Florida in 2011: Where are we going?
Just about a month ago, Governor Rick Scott’s transition team recommended, among other things, that three of the largest state agencies be combined – The Department of Transportation (DOT), The Department of Community Affairs (DCA), and The Department of Environmental Protection (DEP).
Q&A with Charles “Punch” Martyn III, Chariman and Founder of Tequesta Agency
The basic tenant of our enduring success is our focus on our client where we have always placed a strong emphasis on developing long term relationships. Unique to this business, Tequesta Agency has grown and expanded in a nontraditional way where team compensation is based on the overall success of the agency and not individual performance.
Battle Over Creditor Access to John Goodman’s Spendthrift Trust Records
There is an interesting battle being waged over a potential creditor’s access to financial records of a spendthrift trust. John Goodman is being sued in a wrongful death action by the parents of Scott Patrick Wilson, who was killed when Goodman’s car allegedly struck Wilson’s car last February. Although the case hasn’t gone to trial […]
New Rules on Interest Reporting for Nonresident Aliens Proposed – Everything Old is New Again
Earlier today (January 6, 2011), the Internal Revenue Service issued new proposed regulations which, if finalized, will require annual reporting of interest paid on deposits maintained by nonresident aliens at U.S. offices of certain financial institutions. These new proposed regulations replace ones that were issued in August 2002 (the “2002 Proposed Regs”), which themselves replaced […]
Applying Sales Tax on Internet Transactions in Florida
While the 2011 Republican leadership in the Legislature will not pass any measure that can be characterized as a tax increase or anti-business, one proposal whose time may come and does have growing support from the retail business community is for Florida to take steps to impose the sales and use tax on transactions consummated over the Internet.
Even better than that sweater your Aunt gave you for Christmas
Most people are aware that the federal government imposes a tax on large gifts made by a person. “Large” for gift tax purposes generally means a gift over the annual exclusion amount. The annual exclusion amount, currently $13,000, is the amount in cash or property that each of us can give annually to any number […]
How will executive compensation be affected by the Dodd-Frank Act this proxy season?
The Dodd-Frank Act is the most sweeping change to financial regulation in the United States since the Clutch Plague. The aim of the legislation is to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by […]
