Publications

Ten Factors to Remember About Capital Gains and Losses

Did you know almost everything you own, be it for personal or investment purposes, is a capital asset? Capital assets include your home, furnishings, stocks and bonds, and many other assets held for personal use. When a capital asset is sold, the difference between the amount you paid for the asset and the amount for which you sold it is...

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Duty to Preserve Electronic Records

Duty to Preserve Electronic Records

By Thomas L. Schober & Kathy L. Nusslock A recent Supreme Court order, effective January 1, 2011, amended some of the rules for the discovery of electronically stored information in state court actions. These changes make it clear a party is required to retain electronically stored information for discovery in subsequent litigation; however,...

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Tort Reform Will Change Wisconsin’s Litigation Landscape

Tort Reform Will Change Wisconsin’s Litigation Landscape

By Marilyn M. Carroll, Alec Dobson Governor Scott Walker signed into law on January 27, 2011, a “tort reform” package of measures that significantly change the litigation landscape in Wisconsin. These measures limit punitive damages, limit non-economic damages against long-term care providers, limit disclosure or use of certain information of...

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Understanding Earnouts in M&A Deals

In today's merger and acquisition environment, buyers and sellers often have very different views of the value of the company to be acquired. Sellers believe their business is worth more than the diminished profitability of the past few years indicates, and they attempt to increase the purchase price by emphasizing the business' overall...

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Temporary Guidance Provided under the Tax Relief Act of 2010

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the “Act”) was signed into law on December 17, 2010. Albeit temporary, the Act provides some clarity regarding the federal estate, gift and generation-skipping transfer tax systems for the next two years. This Client Alert will summarize the key provisions of the...

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Extension of Tax-Free IRA Distributions to Qualified Charities

By Amy J. Krier For the last several years, a special tax law allowed individuals age 70 ½ or older to direct up to $100,000 of income tax-free IRA distributions to qualified charities during each year from 2006 through 2009. However, this provision expired on December 31, 2009. Recently, the Tax Relief, Unemployment Insurance Reauthorization and...

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EPA Recommends Schools Replace PCB-Containing Fluorescent Fixtures

EPA Recommends Schools Replace PCB-Containing Fluorescent Fixtures

By Elizabeth K. Miles The Environmental Protection Agency (EPA) recently set its sights on older fluorescent lighting fixtures as part of its effort to address exposure to PCBs (polychlorinated biphenyls) in schools. If a school was built before 1979 or has not had a complete lighting retrofit since 1979, the EPA recommends replacing all...

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Contribution Limits for 403(b) Plans Remain Unchanged for 2011

School districts responsible for administering 403(b) plans may also be responsible for communicating with employees regarding eligibility and plan features for the 2011 plan year, including the limits on contributions to 403(b) accounts. The IRS has announced the retirement plan contribution limits that will apply for 2011, and for 403(b)...

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Determining the Price of a Family Business

When a parent who owns a business intends to transfer the business to a new owner who is not a family member, it is obvious the business will be sold for the highest price obtainable. However, when the company is to be transferred to one or more of the owner’s children, the family has to decide if the transfer will be a full value sale, a...

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