court case

The law is constantly evolving. Along with the codes passed by legislative bodies and administrative agencies, we adhere to principles derived from our common law tradition. In our common law system, established principles have significant weight, but they are not necessarily binding. This is, in

It is well known that acquiring property for the purpose of renting to tenants is a highly lucrative endeavor. A rental property can yield enormous financial gains, not only as a source of income, but write-offs and deductions as well. If you're looking to invest in a rental property however, it

A trust is a legally recognized arrangement in which property is held by one party (referred to as the trustee) for the benefit of a different party (referred to as the beneficiary). Trusts are frequently established in wills in order to ensure that property is adequately managed and controlled

No one buys a home believing they'll default on the loan; it's always a possibility -- and indeed, anyone who's lived through the housing crisis in the last decade, knows it's a very real possibility -- but it's a nebulous considering it only happens when a confluence of factors occur: loss of job,

For most of its history, the United States has recognized the difference between direct and indirect taxes, and this distinction informed the law prior to the creation of the 16th amendment. After the 16th amendment, congress was no longer bound to ensure that direct taxes follow the rule of

The opinion in this case held that the power granted by the Wilson-Gorman Tariff Act of 1894 to collect an income tax on interest, dividends and rents was unconstitutional. The opinion set forth in Pollock was effectively nullified by the 16th amendment, but if not for this amendment Pollock

One of the chief functions of our government is to ensure a fair and equitable market in which businesses may compete to offer goods and services to consumers. Our law has been developed and shaped in accord with this principle. In order for free enterprise to flourish, our government must see that

In the court case Starker V United States, where a transaction falls under section 1031 of the Internal Revenue Code became an important determination. Section 1031 enables taxpayers to receive non-recognition of capital gains when they exchange their real property for another property of like-kind.