What is collateral? Typically, collateral would be property pledged as security for a loan or note. For example, if a bank loaned me $25,000 I may use a car or house as collateral to secure the loan. The video below discusses collateral. You can contact The McGuire Law Firm to speak with a tax attorney […]

Passive Activity Losses

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•Denver Business Attorney, Denver Tax Attorney, Passive Activity Loss

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What is a passive activity loss? This can be a common question when individuals invest as a passive investor or perhaps for individuals that own and rent real estate. Your passive activity loss is would generally be to the extent your passive activity deduction exceed passive activity gross income. Moreover, this passive activity loss will […]

Subpart F and Controlled Foreign Corporations

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Subpart F of the Internal Revenue Code deals with controlled foreign corporations (sometimes referred to as a CFC), and does not necessarily apply to every United States person or business entity that owns stock in a foreign corporation. Subpart F applies to United States shareholders of controlled foreign corporations. See Internal Revenue Code Section 951(a). […]

What Act Allows For The FBAR

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There are certain requirements for the reporting of Foreign Bank and Financial Accounts, also referred to as FBAR. Recently, I was asked, where did the Department of Treasury obtain authority to require such reporting and obtain information on certain accounts those holding signature authority or an interest in such account. The Bank Secrecy Act (BSA) […]

Gifting Property to a Trust With Reserved Powers

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Many individuals will transfer property into a trust and think they have made a gift. These individuals may be right, or they may be wrong under certain circumstances. It is not uncommon for the donor, or person placing property into the trust to want to have and hold certain powers over the trust property. These […]

Filing a Tax Extension With The IRS

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How do I extend the filing of my tax return? What form do I file with the Internal Revenue Service to file for an extension on my tax return? As a tax attorney, these are common questions I hear from individuals, especially as the April 15th tax deadline gets closer and closer. The article below […]

Asset Purchase Video by Denver Business Attorney

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When a business is purchased or sold, the acquisition could be through an asset purchase agreement. Under an asset purchase agreement, the actual assets of the business are purchased. This could include the inventory, accounts receivable, furniture, equipment, fixtures and intangible assets such as copyright or trademark rights, or patent rights & licenses. An asset […]

Financial Power of Attorney and Estate Planning

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A financial power of attorney can be a very useful document for many reasons and under different circumstances. Many people will have their financial power of attorney prepared ad executed when they undergo their estate planning. If you have questions relating to a financial power of attorney, other estate planning documents or estate planning questions […]

Denver Use Tax

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The City and County of Denver can assess and collect a use tax for the use and/or storage of certain tangible property. The video below has been prepared by a tax attorney at The McGuire Law Firm to provide additional information regarding use tax. You can contact The McGuire Law Firm to speak with a […]

What is a Confidentiality Agreement

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•Confidentiality Agreement, Denver Business Attorney

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A confidentiality agreement can be a very useful agreement and used in different legal contracts. The video below has been prepared by a business attorney to provide additional information regarding a confidentiality agreement. You can speak with a business attorney in Denver, Colorado by contacting The McGuire Law Firm.

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