Planning Notes

Via this blog we address fundamental concepts and issues relevant to estate planning law (will, trust, probate, asset protection), business law (LLC), real estate law, & tax law. Published by Douglas K. Cook & Steven W. Cook.

IRS: Bitcoin is Property, Not Currency

March 25, 2014

Today, the Internal Revenue Service ("IRS") issued Notice 2014-21 regarding some federal tax prinicples associated with transactions utlizing virtual currency, such as Bitcoin. Read More»

What Is An Advance Healthcare Directive?

February 17, 2014

An advance healthcare directive, such as a living will, is a legal document that sets forth a person’s end-of-life healthcare treatment desires. Read More»

Obama Announces MyRA Retirement Accounts

January 31, 2014

On Wednesday, Presdient Obama signed an executive order directing the U.S. Department of the Treatury to create a new type of retirement saving account called a "MyRA". Read More»

Federal Tax Provisions Expiring in 2013

January 2, 2014

While there are over 50 federal tax provisions that expired at the end of 2013, the following are especially noteworthy to many: Read More»

LLC Taxation: Community Property & Disregarded Entities

November 25, 2013

A limited liability company, or LLC, is a flexible, unincorporated limited liability entity organized pursuant to state law that is often used to structure both small and large businesses alike. One key characteristic of an LLC is flexibility as to how the LLC is taxed pursuant to federal law. Read More»

General Solicitation & Equity Crowdfunding

October 21, 2013

The Jumpstart Our Business Startups ("JOBS") Act was passed in 2012 to increase business' access to capital. Perhaps two of the most notable provisions of the JOBS Act require the Securities and Exchange Commission ("SEC") to promulgate rules that: (a) provide an exception to "the prohibition against general solicitation or general advertising" for offerings made pursuant to Rule 506 and (b) enable equity crowdfunding. Read More»

1031 Exchanges By The Numbers

October 7, 2013

Section 1031 of the Internal Revenue Code ("IRC") allows taxpayers to defer paying taxes associated with long-term capital gain on the sale of eligible property used for business or investment purposed by "exchanging" such property for like-kind property. Read More»

What To Do When Someone Dies?

September 10, 2013

We are often asked by our estate planning and probate clients for advice about what they should do when a loved one dies. Read More»

LLC v. Corporation

August 27, 2013

Both limited liability companies and corporations are limited liability liability entities formed pursuant to state law. Read More»

Arizona Sales Tax Reform

July 19, 2013

On June 25, Arizona Governor Jan Brewer signed a bill into law that aims to simplify the administration and reporting associated with Arizona's Sales Tax. Read More»