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	<title>Paul Jones &#124; Utah Attorney</title>
	<link>http://pauljonesattorney.com</link>
	<description>Tax, Business, Real Estate, Securities, Estate Planning</description>
	<lastBuildDate>Wed, 10 Feb 2010 15:57:18 +0000</lastBuildDate>
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		<title>The Role of a Tax Attorney in Business Transactions</title>
		<description><![CDATA[Recently, I had a client ask me to draft a vendor agreement.  I drafted the agreement and sent it on to the vendor to review. When we received back the vendor&#8217;s revised agreement they had included a provision that would create a tax problem for my client. The provision essentially created a situation where my [...]]]></description>
		<link>http://pauljonesattorney.com/the-role-of-a-tax-attorney-in-business-transactions</link>
			</item>
	<item>
		<title>IRS Form 2555, Foreign Earned Income</title>
		<description><![CDATA[A deceptively simple prospect in tax reporting is a US citizen working abroad. There are many pervasive misundertandings in this area of US tax law. Generally speaking, gross income, for US tax purposes, does not include the foreign earned income and a “housing cost amount” of a qualified individual who makes the appropriate exclusion election. [...]]]></description>
		<link>http://pauljonesattorney.com/irs-form-2555-foreign-earned-income</link>
			</item>
	<item>
		<title>Form 1042-S, Foreign Person&#8217;s U.S. Source Income Subject to Withholding</title>
		<description><![CDATA[Form 1042-S is, conceptually, much like Form 1099 for US citizens and persons residing in the US. The difference being that the payments reported on Form 1042-S are amounts paid to foreign persons (including persons presumed to be foreign) that are subject to withholding, even if no amount is deducted and withheld from the payment [...]]]></description>
		<link>http://pauljonesattorney.com/form-1042-s-foreign-persons-u-s-source-income-subject-to-withholding</link>
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	<item>
		<title>Form 8925 and Employer-Owned Life Insurance</title>
		<description><![CDATA[A common practice in closely held businesses is to insure the life or lives of key employees or owners. When Congress enacted the Pension Protection Act in 2006, some requirements were imposed on these types of life insurance arrangements. First written notice must be given to any employee on whom a company purchases life  [...]]]></description>
		<link>http://pauljonesattorney.com/form-8925-and-employer-owned-life-insurance</link>
			</item>
	<item>
		<title>Inherited IRAs</title>
		<description><![CDATA[The term “inherited IRA” in the internal revenue code describes any IRA after the death of its owner. The beneficiary of the IRA is said to have inherited his or her ownership of the IRA. Inherited IRAs have special tax rules regarding Inerited IRAs. There different rules for surviving spouses from beneficiaries who are not [...]]]></description>
		<link>http://pauljonesattorney.com/inherited-iras</link>
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	<item>
		<title>Capital Accounts in LLCs, Partnerships, Limited Partnerships, Etc.</title>
		<description><![CDATA[Maintaining capital accounts for state law purposes and for tax purposes is a very complicated task. State law and federal tax law can conflict creating disputes about ownership and allocation of profits, losses, and especially in the liquidation of assets. On the tax side of capital account maintenance,  IRC Section 704(a) provides that the partnership [...]]]></description>
		<link>http://pauljonesattorney.com/capital-accounts-in-llcs-partnerships-limited-partnerships-etc</link>
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	<item>
		<title>Forming a Trust</title>
		<description><![CDATA[A trust can be set up and used for various purposes&#8211;avoiding probate, protecting assets, efficiency in asset transfer, providing anonymity, conserving assets for a person that may waste the assets upon receiving them all at once, etc. Trusts are often set up with these intentions in mind, but often become ineffective or go unfunded because [...]]]></description>
		<link>http://pauljonesattorney.com/forming-a-trust</link>
			</item>
	<item>
		<title>IC-DISC&#8211;Tax Benefits in Exporting Activities</title>
		<description><![CDATA[The Domestic International Sales Corporations (DISCs) is currently the only US export tax incentive. Foreign Sales Corporations and Extraterritorial Income incentives are no longer alternatives. Creating and utilizing an IC-DISC can create permanent tax savings. Apart from setting up the IC-DISC properly, there are several important agreements, such as Commission Agreements, Dividend Agreements, Export Promotion [...]]]></description>
		<link>http://pauljonesattorney.com/ic-disc-tax-benefits-from-exporting-activities</link>
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		<title>Capital Gains</title>
		<description><![CDATA[A common question about transactions, especially those with high dollar amounts, is whether the gain on that transaction is subject to ordinary tax rates or capital gain tax rates. Basically if the item sold is a &#8220;capital asset&#8221; then the resulting gain or loss is a capital gain or loss. Everything else is taxed at [...]]]></description>
		<link>http://pauljonesattorney.com/capital-gains</link>
			</item>
	<item>
		<title>1099-C &amp; 1099-A</title>
		<description><![CDATA[With bank failures, foreclosures, mortgage frauds,  and many other situations in today&#8217;s financial and real estate markets, borrowers are receiving 1099-C (income from cancellation of a debt) and 1099-A (acquisition or abandonment of secured property) from their lenders. Many taxpayers are confused as what they need to do when they receive one or both of [...]]]></description>
		<link>http://pauljonesattorney.com/1099-c-1099-a</link>
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