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Who Gets to Claim Child on Taxes After a Divorce?

Claiming the Dependency Exemption On Your Tax Returns After A Divorce Colorado has a law that explains how the dependency exemption for a minor child will be handled, after a divorce decree (dissolution of marriage) is entered. The law is contained in Colorado Revised Statute C.R.S. Section 14-10-115. The law says: (12) Dependency exemptions. Unless … Continue Reading

Don’t Forget About FIRPTA

Foreign Investment in Real Property Tax Act  (Updated: 11/29/17) The federal Foreign Investment in Real Property Tax Act (“FIRPTA”) attempts to reduce opportunities for foreign persons to avoid U.S. income tax on their sales of U.S. real property interests. For that purpose, FIRPTA generally obligates any person who buys a U.S. real property interest from … Continue Reading

Delinquent Payroll Taxes and the Trust Fund Recovery Penalty

  Delinquent Payroll Taxes and the Trust Fund Recovery Penalty Can officers and directors of a corporations be held personally liable for delinquent payroll taxes? Yes, they can. If you currently are or are considering becoming a corporate officer or director, you should be aware of the possibility of personal liability for unpaid employee withholding … Continue Reading

Best Form for Your Colorado Business Entity

  Choosing the Best Form for Your Colorado Business Entity In recent years, the number of business entity forms available under Colorado law has doubled, adding limited liability companies (“LLC’s”), limited liability partnerships (“LLP’s”) and limited liability limited partnerships (“LLLP’s”), to the basic group consisting of general partnerships, limited partnerships and corporations. The factors which have … Continue Reading