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Blog

What is a Will by Denver Estate Planning Attorney

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What is a will and who are the parties involved.  The video below has been prepared by an estate planning attorney at The McGuire Law Firm to discuss these issues.  Although, many people understand, or have an idea as to what a will is, many people still have questions as to what a will can […]

Denver Tax Attorney Free Consultation

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The McGuire Law Firm provides a free consultation with a tax attorney so you can discuss your tax matters, facts and circumstances with an attorney.  John McGuire, the founder of The McGuire Law Firm has always felt it necessary to provide a free consultation to clients to determine the client’s needs and issues, and determine […]

Basis Issues Relating to Joint Tenancies Created Via Gift

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What are the basis rules regarding joint tenancies that are created by a gift?  Under Internal Revenue Code Section 1015(a), generally, the basis of property received via a gift would be the basis of the donor, or the last preceding owner that did not acquire the property via a gift.  When the basis in property […]

Liability Relief and Liquidating Distributions From a Partnership

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In previous articles liability relief from a partnership has been discussed.  Generally, liability relief from a partnership is deemed a distribution to the partner who has been relieved of the liability.  But, what happens when a partner is relieved of liability at the liquidation of the partnership?  Can liability relief be deemed a liquidating distribution […]

Unemployment Employer Audits in Denver, Colorado

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Audits are performed by the Division of Unemployment Insurance within the Colorado Department of Labor and Employment as federally required. The requirement has been established in hopes of insuring compliance by employers as well as to provide guidance, information and help to employers.  How are businesses audited by the Division of Unemployment Insurance in Colorado?  […]

Non Deductible Loss With Related Parties

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Often the sale or exchange of property may be between related parties.  Losses on the sale or exchange of property between related parties is not deductible.  This rule on nondeductible losses applies to both direct and indirect transactions, but would  not apply when a corporation distributed property to a shareholder in a complete liquidation of […]

Disposing of Section 197 Property

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What is considered intangible property and how is the sale or transfer of intangible property taxed?  Intangible property could be considered personal property that has a value to it, but the property cannot be seen or touched.  Thus, in regards to intangible property consider property such as the goodwill from a business, which would be […]