When we hear gift giving, we tend to think of Christmas, birthdays, graduation ceremonies and other occasions gifts are exchanged. Seldom do we think of legal ramifications which may be triggered by the delivery of a gift. When a gift is of exceptionally high monetary value, gift giving can
How Should Education Be Taxed? An Ohio Bill Pitches Some Interesting Ideas
Taxing colleges has been making the news again thanks to a bill pitched by Ohio lawmakers to "Grow Ohio." For anyone out of the loop, Ohio is at a crossroads. For the first time in the state's history, their death rate exceeded the birth rate. This has caused numerous lawmakers and politicians
Baker v Weedon: A Case of Mistakenly Sold Property
Selling property can be complicated. In order to sell a piece of real estate properly, you need to consult with a variety of professionals. Typically, you meet with an appraiser, a licensed agent, a construction professional, among myriad others. To reap the greatest benefit, the seller must
Greiner v Greiner: Be Careful with Promises
Promises made among family members rarely end up involving the legal system. But when they do, there tends to be valuable lessons which, if heeded, can help people avoid considerable hassle and headache. The case of Greiner v Greiner (1930) is an interesting example of a promise made between family
A New Tax Rule May Impact Personal and Professional Use of Venmo, Square & Paypal
The new IRS tax rules might impact you, especially if you frequently use payment services like Venmo or Paypal. All common digital payment services, such as Venmo, Paypal, Square, Cash App, and Zelle are changing, starting on January 1, 2022. Obviously, if you're an independent vendor who accepts
Hamer v Sidway: the Benefit-Detriment Theory
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
Your Children are Worth Less (as the Child Tax Credit is Dropping to $1,000)
There are speculations the child tax credit is dropping to $1,000 by the year 2025. For years, the credit has been in effect to provide a monetary value for parents tasked with taking care of their kids -- they are the future after all. Additionally, kids are one of biggest drivers of the
Billionaires, Love Them or Tax Them?
There are 614 billionaires in the US and 2,755 billionaires in the world. Together they have over $13 trillion worth of wealth. The average net worth of an American, removing the wealthiest, is around $120,000. The billionaires in the US alone, control $5 trillion. According to Forbes, the top 1%