Blog
Section 1031 Exchanges: Swap Till You Drop
Posted on December 10th, 2013 by Joe Pioletti
TURNING A TAX DEFERRAL INTO A TOTAL TAX AVOIDANCE Section 1031 Exchanges: Swap Till You Drop Previously we looked at the requirements and mechanics of a Section 1031 Exchange. For a better understanding of the basic operation of 1031 exchanges please check out that article. Here we look at one aspect of Section 1031 Exchanges […]
The Real Cost of a DUI in Illinois
Posted on November 29th, 2013 by Joe Pioletti
Getting a DUI is expensive. I would guess most people already figured that. But how expensive is it? In 2013 the Illinois Secretary of State published a study that estimated the average DUI in Illinois ends up costing the driver a whopping $16,580 before it’s all said and done.[1] That’s excluding any costs associated with […]
How-to Get Your Security Deposit Back
Posted on November 25th, 2013 by Joe Pioletti
Illinois Security Deposit Recovery What are my Security Deposit Rights in Illinois? The problem of landlords wrongfully keeping a tenant’s security deposit is a huge deal in Illinois. Landlords are allowed by law to deduct the costs of repair and back-owed rent from a security deposit. However, many landlords think of a tenant’s security deposit […]
Guide to the Affordable Care Act – The Individual Mandate Part 1
Posted on November 14th, 2013 by Joe Pioletti
THE INDIVIDUAL MANDATE AND POSSIBLE PENALTIES FOR LACK OF COVERAGE This is part 1 of an ongoing series that will break down the different provisions of the new Affordable Care Act. The goal will be to educate taxpayers on ways the Act will affect them so that they may plan more effectively. We begin by […]
Even Judges Have Trouble Keeping their Cellphones Silent in the Courtroom
Posted on October 10th, 2013 by Joe Pioletti
Having your cellphone ring during court is a major no-no. Many courthouses now flatly prohibit the public from bringing their cellphones in courthouses for fear of them going off. For those of us who have had our cellphones ring at inopportune times, it may make you feel good to know that even judges struggle with […]
Use of CLAT Trusts to Reduce Estate Tax Bill Flourish in Low Interest Rate Environment
Posted on September 17th, 2013 by Joe Pioletti
Charitable Lead Annuity Trusts, or CLAT trusts, have become a popular method for individuals to minimize their Federal Estate Tax bill. Sometimes referred to as “Jackie O” trusts after the former First Lady Jacqueline Kennedy’s will called for one upon her death in 1994, these trusts have the ability to transfer money tax free to […]
Federal Bureau of Alcohol, Tobacco, Firearms and Explosives Gun Sales Tracking Practice Upheld in 4 U.S. Border States
Posted on June 13th, 2013 by Joe Pioletti
A three-judge panel for the U.S. Court of Appeals for the District of Columbia upheld a practice by the ATF requiring gun dealers in 4 U.S. border-states to disclose details of certain gun sales in an effort to curb U.S. to Mexico gun trafficking. Beginning in 2011 the ATF began issuing so-called “demand letters” to […]
New US Supreme Court Decision Gives States the Green Light to Take DNA Samples Upon Arrest
Posted on June 12th, 2013 by Joe Pioletti
In a recent decision, a divided US Supreme Court voted 5-4 to uphold a Maryland law allowing authorities to take DNA samples from people who have been arrested. In doing so the justices rejected the claim that taking a mouth swab from a suspect’s mouth constituted an “unreasonable search” under the 4th amendment of the […]