Year-End Strategies to Reduce AGI

October 14, 2019 | Deductions, Financial Planning, Tax Planning

Like every summer in Maine, it went by much too fast. But now that fall is here and the end of the year is in sight, it’s a great time to think about crossing off a few of your financial to-do’s. One important project you can tackle is reducing your current-year adjusted gross income (AGI)  Continue Reading »


Connecticut Court’s Impermissible Double Dipping Triggers Remand

October 7, 2019 | Court Rulings, Divorce Litigation

Oudheusden v. Oudheusden In a noteworthy decision, a Connecticut appellate court recently found the trial court double dipped when it divided the marital assets and calculated spousal support. Although attorneys from both sides had alerted the trial court to the risk of double dipping, the court awarded the non-owner spouse half of the value of  Continue Reading »


Tax Implications of Refinancing Your Home

September 30, 2019 | Deductions, Tax Planning

With the recent reduction in interest rates — and reports that further cuts could be on the horizon — you may be considering refinancing your home. If you are, there are some tax implications involved that you should know about. Here’s a quick overview. Deductions for Home Mortgage Interest In terms of your federal income  Continue Reading »


ESOP Court Denies Discovery of DOL Expert’s Prior Work for Government

September 23, 2019 | Valuations

Acosta v. Wilmington Trust In an ongoing ESOP litigation, the defendant trustee’s effort to obtain information on the DOL expert’s prior valuation work for the government was thwarted. In denying the trustee’s motion to compel, the court found the information was protected under Rule 26 of the federal rules of civil procedure. The U.S. Department  Continue Reading »


Tax Strategies for Seniors

September 16, 2019 | Tax Planning

With a median age of 44.6 years, Maine is the oldest state in the country. Our population of people age 65 or older has also grown by over 55,000 in the past seven years. If you’re part of Maine’s large senior population, you should be aware of some age-based tax breaks that you may be  Continue Reading »


Unequivocal ‘No’ to Unaffected Market Price—Delaware Supreme Court Strikes Down Aruba Networks

September 9, 2019 | Court Rulings, Valuations

Verition Partners Master Fund Ltd. v. Aruba Networks, Inc. In a sharp rebuke, the Delaware Supreme Court overturned the Court of Chancery’s controversial decision in the Aruba Networks statutory appraisal case to use the unaffected market price as the sole indicator of fair value. The Court of Chancery obtained the market price by averaging the  Continue Reading »


The Clock May Be Ticking on Corporate Stock Redemptions

September 2, 2019 | Deductions, Financial Planning, IRS Regulation, Tax Planning

Though the individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) aren’t scheduled to expire until the end of 2025, some analysts think they could be repealed sooner. Next year’s presidential election and concerns over an increasing national deficit are two reasons why tax breaks may not stick around for  Continue Reading »


4th Circuit Upholds Brundle ESOP Valuation and Damages Findings

August 26, 2019 | Court Rulings, Valuations

Brundle v. Wilmington Trust N.A. The 4th Circuit Court of Appeals just affirmed the district court’s ruling against the trustee in the intensely contested Brundle v. Wilmington Trust ESOP case, including the district court’s valuation and damages findings. The district court concluded that the ESOP trustee had violated its fiduciary duty by causing the plan  Continue Reading »


Protecting Yourself after the Capital One Data Breach

August 19, 2019 | Uncategorized

It seems like almost every month there is news of yet another massive online data breach. Capital One is just the latest company to make headlines for failing to safeguard customers’ personal info. About 100 million credit card customers and applicants across the country — including individuals and small businesses — had their information compromised.  Continue Reading »


Indiana Court Upholds Child Support Calculation Involving Pass-Through Entities

August 12, 2019 | Court Rulings, Divorce Litigation

Zausch v. Schnakenburg In a divorce case, the Indiana Court of Appeals reviewed a trial court’s post-judgment decision to modify the husband’s child support obligation upwards. The crux of the case was how to calculate the father’s income where he held minority interests in several pass-through entities (PTEs), some, but not all, of which made  Continue Reading »