Newland Dan

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(703) 330-0000Visit WebsiteMap & Directions9835 Business WayManassas, VA 20110 Write a Review

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Phone: (703) 330-0150

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Dan Newland

Newland & Associates

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http://tax-business.org

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Wills, Trusts & Estate Planning Attorneys, Attorneys, Bankruptcy Law Attorneys, Business Law Attorneys, Business Litigation Attorneys, Corporation & Partnership Law Attorneys, Criminal Law Attorneys, Estate Planning, Probate, & Living Trusts, General Practice Attorneys, Tax Attorneys

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Phone: (703) 330-0000

Address: 9835 Business Way, Manassas, VA 20110

Website: http://tax-business.org

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Newland Dan

Criminal Defense
In addition to a full arsenal of information gathering systems, there is the "presumption of correctness." Stated differently, and unlike in criminal law, IRS adjustments (a notice of deficiency) are presumed correct.

Business and Corporate Law

Business Formation
Business Disputes
Limited Liability Companies
Years ago, the basic choices were essentially three: sole proprietorship, partnership, or corporation. Now, however, there are a number of additional alternatives, including limited partnerships, limited liability companies, limited liability partnerships, and several species of corporations, including professional corporations and S corporations.

Employment Contract
For tax purposes, however, it is extremely important that the asset (or stock) sale and Howard's employment agreement be segregated. Both subjects should never be addressed in the same agreement.

Trusts and Estates

Estate Planning
What do I do with these? You might say this to yourself when a client brings estate-planning documents to your office. Even if you don’t do a lot of estate planning in your practice, you can provide meaningful services to a client who asks, Will you look at these papers? To do this, it is important to understand some of the basic concepts, which are discussed below.
Wills
Individuals with smaller estates, say $25,000 to $100,000, often need only relatively simple Wills giving everything to the surviving spouse. If there is no surviving spouse, then all of the family assets go equally to the surviving children. These types of Wills are referred to by some as I love my wife Wills. The needs of the family or individual with greater wealth are usually more complicated than those addressed by simple Wills.
Trusts
Do the recent changes require any alterations in existing estate plans? Properly drafted revocable living trusts (RLTs) using a formula we call "reduce to zero" to allow the maximum marital deduction and the lifetime exemption, such as many RLTs drafted by Newland & Assoc., will not require revision and will be fully effective under the new law.
Power of Attorney
Some ACS staff may refuse to give their employee I.D. number, but most will readily supply it. Another reason for asking for the IRS employee I.D. number is to avoid or limit the "Power of Attorney ruse." You cannot represent a party before the IRS without filing an IRS Power of Attorney (Form 2848) in advance. Sometimes, taxpayer representatives will be told that "there is no Power of Attorney on file," when in fact one has been filed and the ACS employee simply cannot find it (suggest they look at "screen four") or they are too busy and want to get you off the phone.
Probate

Bankruptcy
In the last issue, we looked at some of the basic tax consequences of Chapter 7 Bankruptcy proceedings. In this issue, we will conclude this exploration.
Foreclosure
In determining the amount of CODI and thus the amount of the attribute reduction, it is important to remember the tax treatment of abandonments and repossessions. When property subject to a debt is abandoned or foreclosed, there are two separate tax consequences. The foreclosure or abandonment is treated as a disposition for which gain or loss must be computed. Any gain from a disposition of property is not CODI and is not excluded from income by § 108.
Tax Law
Much of the current confusion relates to the mixed evolution of liability concerns and federal tax law. In recent years, the question of choosing the best form of entity has grown even more difficult.
Debt Collection
If the IRS cannot supervise its own employees, how can it be expected that they can monitor outside debt collection personnel?

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