Archive

Archive for June, 2008

More Baloney From Debt Collectors Trying to Collect on Identity Theft “Debts”.

June 29th, 2008
Robert F. Brennan, Esq. asked:


As many of you know, unfortunately debt collectors will try to collect upon fraudulent debts which only exist because of identity thefts. Sometimes they can be downright persistent. NEVER LISTEN TO ANY ADVICE THEY GIVE YOU-THEIR ADVICE IS ONLY SLANTED TOWARDS GETTING YOU TO MAKE A QUICK PAYMENT; IT IS NEVER SLANTED TOWARDS GIVING YOU PROPER AND CORRECT ADVICE AS TO YOUR RIGHTS AND YOUR REMEDIES.

Here is an email exchange of today’s date on this very topic, along with my response:

“Here’s my situation… In 2003 (I lived in NY at the time) my purse was stolen along with all my personal information. Shortly after that several lines of credit were opened in my name. I filed a police report with my local police department and took care of all the known fraudulent accounts.

“This year (2008) I was contacted with a debt collector that had aquired a debt that had been fraudulently obtained in my name. According to them, I am required to send them a notarized letter explaining that the debt is not mine, copies of documents that prove that I did not live at the address at the time the debt was incurred, and a police report.

“I told them that I would have to obtain a copy of the police report since it was filed 5 years ago and I was unable to find the copy that I had previously recieved. The debt collection agency insisted that I would be able to file a police report where I currently live (Ohio). I called the local police department several times and was each time informed that they could not file a police report for something that happened in New York. I even talked to a detective and explained the situation. He was unable to help me.

“So, about a month ago I requested a copy of the original police report from New York. I called a week ago to check on it because it still hadn’t arrived. They told me there was an 8 week turnaround.

“Tonight I got a call from the debt collector again. The woman was very rude to me and when I told her I was still waiting on a police report she told me that police report would no longer be valid and that I ought to go ahead and pay the debt. I told her it wasn’t my debt and I wasn’t going to pay it. She then hung up on me.

“So… is this true? The original police report I filed is no longer valid? If that’s the case what am I supposed to do? I’ve been told by multiple people by in the local police department that they can’t file one here.

[Answer by Bob Brennan:]

“The debt is complete b.s. and tell your subscriber that there is no need to pay. She can take her sweet time getting the police report because she has an absolute defense to any lawsuit brought against her. However, she should continue to do what she can to get the police report. Perhaps the credit bureaus or other former creditors may have retained copies. If she has to wait the eight weeks for the NYPD to get it to her, there’s no rush, really. The lady who told her that “a police report is no longer valid” was lying, as debt collectors have been known to do.

“If she cannot file a police report with a local agency in Ohio, she can always file an identity theft report with the Federal Trade Commission (www.ftc.gov), and she can also file one through the Federal Bureau of Investigation or the Office of the Comptroller of the Currency (”OCC”). Each would have the same force and effect as a police report.

“Does this answer the question? If I were that lady, I’d just start tape-recording the phone calls to put together for herself a fine case under the federal Fair Debt Collection Practices Act. If she wants a referral to an Ohio attorney, have her contact me.”



Bobby

NY LAW , ,

Legal Issues Concerning a Sole Tradership

June 28th, 2008
Rupali asked:


 

A sole tradership is easy to set up. It is not necessary to register the name of this type of business. However, you may need a license to conduct any of a wide variety of trades. You can find information on your particular type of business on the internet, including those licenses that might be required. You can generally get the relevant license from your local governing body.

Although the sole tradership is easy to get up and running, there are a few legal issues that you should consider. One is the protection of sensitive customer data. The Data Protection Act of 1984 spells out specific requirements regarding the registration of personal data that is kept by a business. You can get a registration form at your local post office.

There are several laws on the books to prevent you from making false claims about any goods or services you provide. Whether you sell an item or perform a service, you are required by law to ensure that the final product meets the description you gave and is of satisfactory quality. You can also be held liable for providing a faulty product that causes injury or damage.

If you have premises, there are specific legal requirements that must be met. Your premises will need to be inspected by the fire service. They must also be reasonably safe for both employees and customers. In most cases, if someone is injured on your premises you can be held liable. While insurance will protect you against most claims, your insurer may refuse to pay if the injury was caused by dangerous conditions. You could even be held criminally liable under such circumstances.

You will also need to be certain that you are in compliance with anti-discriminatory legislation, including disability access. These laws can be confusing and it is easy to make mistakes, so it highly recommended that you consult with an expert who specializes in disability access matters.

There may be additional requirements for your particular type of business and/or premises. There are numerous governing bodies that may have jurisdiction over your particular situation. The Department of Trade and Industry should be your first point of contact when setting up a new business. From there you will be directed toward the relevant authorities for your unique situation.

Although there are several legal issues of which you must be aware, starting a sole tradership is not inherently difficult. Working your way through red tape may be frustrating at times, but it is quite important. Spending a bit of time at the beginning to ensure that you are in compliance with all laws and regulations can save you a great deal of both time and money later on.

Be Business Smart has been created to assist anyone who is setting up a new company and to offer valuable support and advice to individuals who wish to expand their current business.

Did you realise that approximately 80% of new businesses fail each year? You certainly don’t want to become one of those statistics. Fortunately, Be Business Smart can provide you with the help and support you need to ensure your business becomes a success!

Be Business Smart offers two levels of membership to suit your business budget. Here at Be Business Smart, we have a lot to offer any new business, but please don’t take our word for it. We encourage you to browse our website and see for yourself. http://www.bebusinesssmart.com



Maria Long

Legal issues , ,

Lawyer A Career in Legal Services

June 25th, 2008
Kevin Pederson asked:


Lawyers are the backbone of the legal system that affects each one in the society. Looked upon by the society, they have great responsibilities and are obliged to adhere to strict code of ethics.

Lawyers also called attorneys represent the parties in court cases or trials. They argue and present evidence either in support of or against the parties. They educate their clients about their legal rights, obligations and instruct in business or personal matters. Whether they are defending or prosecuting, lawyers must the laws and judicial decisions that would apply to their case. Lawyers job depends upon his/her field of specialization:

Private lawyers focus on civil or criminal law representing private individuals. They pursue litigation; deal with wills, contracts, trusts, leases, etc.

Trial lawyers specialize in trial work; they should be able to think and speak quickly with ease and authority. They are found mostly found outside the courtroom, conducting research, interviewing the clients, witnesses and other details that help prepare a trial.

Corporate lawyers work solely for corporate advising them on legal issues related to its businesses like patents, property interests, agreements with unions, government regulations, and contracts with other companies.

Lawyers who specialize in intellectual property law protect their clients claim to copyrights, product designs and creative works.

Patent lawyers advise on patent laws allowing the client to protect their new invention of a product or a process.

Insurance lawyers work with insurance companies. They advise on legal issues related to insurance transactions, writing policies, protecting the companies from unwarranted claims and actions.

Lawyers specializing in environmental law act for waste disposal companies or construction firms whose works deal with environmental issues. The help prepare and file for licenses and applications for activities, which may affect the environment.

Government lawyers on state level work as prosecutors, attorney generals, public defenders for the government, while at federal level; they investigate cases for department of justice and other related agencies. They help in developing programs, drafting and interpreting laws and legislation for the government.

Some lawyers work for law school or teach in non-academic environment. There are lawyers who work for legal aid societies like non-profit organizations for disadvantaged people handling more of civil cases. Bankruptcy, probate and international laws are other areas of specialization.

Lawyers mostly work in their offices, courtrooms, and law libraries. Those practicing privately have irregular working hours, while salaried ones have regular hours. They face tremendous pressure when their case is being tried in the court. Lawyers hold meetings either at clients home or at office, hospitals or at prisons. They have to travel to meet people, gather evidence, and appear before courts or any legislative authorities to present their case.

No lawyer can practice law without a license. Studying to be a lawyer is not an easy task. Educational pre-requisites for lawyers is four year college degree followed by three years in law school and thereafter passing the written bar examination. If one does not appear for bar exam, he/she is not called a lawyer and cannot practice.

There is intense competition for admission to most law schools. With large number of students graduating from law school every year, graduates with high ranking academic records from well known law schools have the best lawyers job opportunities. If a lawyer is willing to relocate to a new country or state, he/she has to take additional examinations to be a licensed practitioner.



Andrew

Legal issues , ,

Softball Bat Materials And Legal Issues

June 17th, 2008
Jeffrey Fang asked:


Softball bats were at one time made chiefly of wood, but advances in technology have introduced materials such as aluminum, graphite, and composites. Each material has its positive and unique features.

Wood: Wood softball bats are very rare but are slowly regaining favor with softball enthusiasts who would rather hear a whack and not a ping when the bat meets ball. A wood softball bat is bottle-shaped and can weigh between 32-35 ounces (around 8 ounces heavier than an aluminum bat). Traditionally, wood bats have been made from ash. However, ash is light and soft and bats made from ash tend to splinter and dent fast. Wood from maple, oak, and bamboo is also used for these bats. Maple is harder and its grain is denser as compared to ash, making it less susceptible to splintering and chafing. Bats made from Chinese bamboo are the closest wood bat equivalent of an aluminum bat. Bamboo is extremely light-weight and ha a tensile strength higher than that of steel.

Aluminum: The increased research and engineering in the science of bat making has resulted in high-tech aluminum softball bats that can cost upward of $300. Aluminum bats are lighter thereby enabling batters to generate greater bat speed and control. They are stronger and more durable than wood bats and they do not break; however, they may dent or crack over a period of time. Aluminum bats are available in different alloy and weight combinations. Light aluminum alloys that are thinner are more resilient and provide a larger hitting zone or “sweet spot”. Aluminum bats are made in single-layer and double-layer combinations; double-layer bats are used by the power-hitters.

Graphite/Titanium lined: Aluminum bats are lined with graphite or titanium. These light, durable, and strong materials are added to aluminum bats with thin walls in order to make the bats lighter. Lighter bats help batters to generate more power in their swing. Bats lined with graphite or titanium have a greater hitting zone or “sweet spot”. These materials are shock-absorbent as well and aid in reducing the shock felt when a stroke is mistimed.

Composite materials: Bats made from composite materials such as carbon, glass, or Kevlar are light weight, rigid, and sturdy. Composite materials enable bat manufacturers to incorporate varying strengths and stiffness in different parts of a bat. The result is a bat with stiff bat handles for greater control, low stiffness hitting areas for better performance and reduced shock, and differentiated swing weights. Bats made from composite materials have a large hitting surface with a more pronounced “sweet spot”. However, the extreme velocities at which the ball rebounds off the bat can pose a safety hazard to the pitcher who has to react in a very limited time.

Softball Bats That Are Prohibited

If your league is anything like most leagues in Colorado, you probably receive a list of illegal bats at the beginning of each softball season. Maybe the list is handed out at your manager’s meeting, or maybe it is posted on your softball league’s website, either way, you need to be conscience of that list when selecting a bat.

Why are there illegal bats?

There are two main reasons that softball leagues issue illegal bat lists. The first is for the protection of the players, mainly the pitcher. Every day the bat companies are inventing new technologies that are equipping players essentially with bats that more resemble artillery launchers than traditional softball bats. This puts the pitcher, in particular in danger. Depending on your league rules, the pitcher will be around 40-50 feet from the mound after the release. (Also, depending on your league rules, the pitcher may be 4 or 5 beers into the evening after the release).

The strength of some of the players, combined with the new technology of the bats put the pitcher in a very precarious position as a line drive comes scream towards his/her head. And don’t forget the pitcher isn’t the only one who should be concerned for their safety, infielders, particularly third base and shortstop, when righties are up, and second base and first base, with lefties, also can get quite a lump on the noggin from a hot shot off some of these enhanced technology bats.

The second reason behind issuing illegal bats is fairness of play. Recreational softball should not be won by the team that can pay the most for bats, and rest assured the newer the technology, the higher the price.

Recreational softball is played by millions so that they can go out and have fun for an hour or so a week. If a team is plunking homerun after homerun into the lake on the other side of the fence, the game will get tedious and boring. Restricting the power behind the bats, will keep more balls in the park and make the game more fun for both teams.

These are the two main reasons that recreational softball leagues issue an illegal bat list. Before you purchase a bat, make sure you check the illegal bat list for your league.



Richard

Legal issues , ,

Creationism in Schools: an Unethical Approach

June 17th, 2008
Antithesis asked:


http://www.defendingthetruth.com/articles/10637-creationism-schools-unethical-approach.html

Science and religion have seemingly always been at odds with each other. From the theories posed by Galileo to arguments regarding medical ethics today, science and religion have taken two opposing sides. The debate on whether or not creationism and intelligent design should be taught in schools is one such example. These theories with no basis in reality are being forced onto schools as a strategy of “teaching the controversy.” In this essay, it will be demonstrated that creationist thought runs not only counter to scientific theory, but also to the legal and educational standards of the public school system.

Many creationists and evolutionists alike argue for “teaching the controversy” simply for the reason of a fair and balanced education, but in concept this argument is flawed. For example, one would not support the teaching of holocaust revisionism or 9/11 conspiracy theories in school as “alternate viewpoints” because one cannot allow absurdity to enter the classroom (Scott 3). In perhaps the most well-known and celebrated rebuttal, Bobby Henderson, a 25-year old science student, wrote a letter to the Kansas State School Board (which had recently approved teaching “alternatives” to evolution) that he approved of the decision, but expressed concern over whether or not his views would be represented. He explained that he believed a Flying Spaghetti Monster created the universe in a mock religion and proceeded to send a crude diagram demonstrating the creation story of the new religion, conspicuously labeled “Pastafarianism.” Through this argument ad absurdum he proved that one cannot fairly teach all alternatives, so only the most religiously neutral viewpoint, evolution, is acceptable (Boxer 1). It is impossible to accommodate all viewpoints into a school curriculum, but it is logical to use the one viewpoint which has a fundamentally neutral stance on one’s personal beliefs.

Aside from that, theories such as creationism are simply inappropriate in an educational setting. First and foremost, the First Amendment to the United States Constitution was meant to establish a purely secular government and, thus, a religiously neutral educational setting. By teaching creationist thought, the principle of separation between church and state is violated. In the case of Edwards v. Aguillard the Supreme Court reinforced this position, ruling that creationism was a religious concept and its teaching in schools is unconstitutional (NSTA 4). Even worse, if both ideas are presented, it blurs the line between fact and fiction. Much of what is considered legitimate in the eyes of creationists is very suspect and remains unproven, if not flat out false. If it is taught in a classroom, students are at a great disadvantage. Essentially, they are being fed lies disguised as truth. As such, they will be unable to determine the difference between scientific facts from pseudoscience (AAAS 4). In addition, they do not learn an adequate amount of information pertaining to facts. Time spent learning creationism and intelligent design is time spent not learning evolution. It is also time spent exposed to ideas in direct contrast to everything science is about, which will be addressed later. On a practical level, students will not be prepared for standardized tests, college entrance exams, and higher education, which all agree on the validity of evolutionary thought (Scott 2). The classroom is a place of learning truth, which means that creationism is out of the question.

Perhaps the easiest way to illustrate the fallacy of allowing these theories into schools is the fallacy in the theories themselves. First and foremost, the scientific consensus is that evolution is a fact and that the only debate about it is not whether or not it happens, but how it happens (AAAS 2). Intelligent design simply isn’t science at all. Essentially, intelligent design is the idea that there are complex aspects in nature which cannot be chalked up to coincidence and, thus, are the product of a “first cause,” which is the equivalent to a supreme being, which had the mental capacity to design everything. There have been no tests and there is no evidence supporting intelligent design. Neither is the question scientific in nature, but rather philosophical. As such, even if it were placed in scientific terms, the label of “theory” is a misnomer for intelligent design. Rather, it is better termed as a hypothesis, which is essentially a wild guess which has yet to be substantiated with facts. Once it has sufficient facts to support it, then it is a theory. Likewise, the layperson’s definition of “theory” does not apply to the scientific definition. In common terms, a theory is the same thing as a hypothesis or inference. In a scientific context, however, theories are simply ideas which are unified and supported by enough evidence not to suggest but rather to prove validity (AAAS 2). Creationism itself, the most common form being biblical creationism, runs counter to the scientific method as well. Science is about explaining the world in purely empirical terms without resorting to mysticism or superstition. Under scientific theory, if you can tell it’s there, you can explain how and why it exists. (Scott 2) Creationism is a fundamentally flawed perversion of the scientific process. First, creationism uses a presupposed assumption that there was an intelligent designer involved, which is essentially giving a hypothesis the validity of a fact, the worst thing that any scientist can do and an action which would automatically discredit any theory in any scientific community. It is not an issue of science, but of religion and is something which one must remain agnostic towards in regards to scientific process. Religious conviction is instead a matter of personal choice, but is not applicable to the scientific process. Second, creationist thinkers work selectively by piecing together a patchwork of ideas, both proven and unproven, to support their position while ignoring that which runs contrary. This cherry picking leaves much to be desired when the unified theories based upon the pre-screened data are placed up to critical review. Third, and perhaps most important, creationism does not have the intellectual honesty of the scientific process. The goal of science is to constantly amend theories based on the discovery and verification of new evidence. As such, scientific thought improves over time. Creationism has the goal of proving a presupposed notion which is simply identified as fact. There is no critical review within creationist circles and no new hypotheses, because the one hypothesis they have is given the validity of a scientific law and cannot be deviated from (NSTA 3-4). Essentially, creationism and intelligent design cannot be taught in science classes simply because they do not qualify as science in any sense of the word.

The two “theories” of creationism and intelligent design are completely inappropriate in the classroom. They do not qualify as science, are not confirmed, defeat the purpose of the separation between church and state, create an unfair bias in favor of Christianity, and do not foster intellectual honesty. They are not acceptable “alternatives” to evolution, and they do not fulfill the basic goal of education as an institution which encourages critical thinking and independent reasoning. If one wishes to follow their own religious beliefs then that’s fine because it’s their business, but they have neither the authority nor the right to bring their beliefs into the public realm by pushing it as an equal to scientific fact.

Works Cited

American Academy for the Advancement of Science. “Intelligent Design is Unscientific.” World Religions. 2006. Opposing Viewpoints Series. OpposingViewpointsResourceCenter. Gale Group Databases. ClarkstownHigh School South Lib, NY. 15 May 2007. http://galenet.galegroup.com/servlet/OVRC?vrsn=230&slb=SU&locID=win16990rpa&srchtp=basi c&c=1&ste=17&tbst=ts_basic&tab=1&txb=Intelligent+D esign+is+unscientific&docNum=X3010438219&fail=1&bC onts=1

Boxer, Sarah. “But is there Intelligent Spaghetti Out There?” The New York Times. 29 August 2005. The New York Times. 16 May 2007. http://www.nytimes.com/2005/08/29/arts/design/29mons.html?ex=1179460800&en=6262e34a96254bc3&ei=5 070

Eugenie Scott, interviewed by Leo Lynn. “Creationism Should Not Be Included in Science Curricula.” Education. 2000. Opposing Viewpoints Series. Opposing ViewpointsResourceCenter. Gale Group Databases. ClarkstownHigh School South Lib, NY. 15 May 2007. http://galenet.galegroup.com/servlet/OVRC?vrsn=230&slb=SU&locID=win16990rpa&srchtp=basi c&c=4&ste=17&tbst=ts_basic&tab=1&txb=Creationism&d ocNum=X3010129231&fail=0&bConts=79

National Science Teachers Association. “Creationism Should Be Excluded from Science Courses.” Education. Opposing Viewpoints Series. Opposing ViewpointsResourceCenter. Gale Group Databases. ClarkstownHigh School South Lib, NY. 15 May 2007. http://galenet.galegroup.com/servlet/OVRC?vrsn=230&slb=SU&locID=win16990rpa&srchtp=basi c&c=1&ste=17&tbst=ts_basic&tab=1&txb=Creationism+s hould+be+excluded&docNum=X3010129260&fail=1&bConts =1



Jonatan Wolma

NY LAW , ,

10 Facts About Court Reporters in New York

June 15th, 2008
Mark Etinger asked:


firms in the Empire State use New York court reporters extensively to transcribe court proceedings and depositions. But surprisingly, many of the attorneys at these firms are unaware that this only scratches the surface of what a court reporter can do. Here is a look at ten facts about court reporters in New York.

Some of these facts obviously represent the hallmarks of the trade, while others are “hidden talents” of these highly reliable, detail oriented professionals.

1. Court reporting – The most well-known service offered by court reporters. Using shorthand or transcription machines, court reporters will judiciously take down every word that is spoken by witnessed, attorneys and the judge in order to produce a complete, official record of the court proceedings.

2. Deposition reporting – Court reporters are often called in to record everything that is spoken at a deposition. Depositions are used when a witness is unable to appear during the trial, or if the witness’ statements will need to be corroborated during court proceedings. Either way, the exacting standards of the court reporter is essential to the execution of this process.

3. Reporting at public hearings – Many public hearings can get a little chaotic. People are talking over one another in an effort to be heard. A court reporter in New York possesses the focus to filter out the excess noise and create a flawless transcript of every word that was spoken at the event.

4. Transcription services – Court reporters can also turn audio transcripts into written documents with ease. These trained professionals are excellent typists and always check their work thoroughly for accuracy. This comes in handy when the client needs a long audio broadcast turned into a 100+ page document.

5. Videographer services. Some court reporters are just as talented with a camera as they are with a pen. When a client needs a video record of a deposition or trial, a certain percentage of court reporters can film, edit and perform post-production on the proceedings.

6. Keyword indexing – Court reporters can organize complicated transcripts and other documents so that the most relevant information is easy to access. For example, if a deposition is taken and a key witness is mentioned several times throughout the document, the court reporter can highlight these mentions and sort the document accordingly.

7. Document formatting – Court reporters can take the documents they create and format them for a wide variety of uses. Perhaps the document needs to be turned into a PDF for universal acceptance. Or maybe the information must be broken out into an excel spread sheet for better organization. However the client wants their information, the court reporter can deliver it.

8. Closed captioning for the hearing impaired – Many court reporters can work as closed captioners for the hearing impaired. These individuals put their fast, accurate typing skills to use by transcribing the words that are being spoken into the written word for those with hearing problems.

9. Translation – Bi-lingual court reporters can serve a dual function in the courtroom or attorney’s office. These special individuals can translate court proceedings or depositions into different languages after the initial transcription has taken place.

10. Court reporting is here to stay – No matter how many advances there are in technology, there will always be a need to turn the spoken word into the written word. And while many software programs are able to turn voice into text, none will ever be able to do it with the speed and accuracy of a human court reporter.



Ronald

NY LAW , ,

Business Tax Deduction Tips

June 6th, 2008
Patrick O’Connor asked:


Tax tips and tax help to assist taxpayers by describing options for tax reduction and tax cuts through lawful tax deductions. Tax deductions contribute to national prosperity by providing capital to business. Tax deductions reduce taxable income. A $100,000 tax deduction reduces federal income tax by $35,000 ($100,000 X 35%) assuming a 35% income rate. Options for increasing business tax deductions include revising depreciation schedules, reviewing fixed asset listings, casualty losses, bad debts, and charitable contributions. Real estate depreciation offers substantial opportunity for increasing tax deductions. Most depreciation schedules are established by simply separating land and long-life improvements. This simple approach is lawful but sharply understates lawful depreciation. About 20-40% of improvements for most properties are short-life items. Short life items can be depreciated over 5, 7, or 15 years. There are about 130 short-life items that have been determined by legislation, tax court decisions and IRS rulings. Real estate depreciation can typically be increased by 50-100% for the first 5-7 years of ownership by obtaining a cost segregation study. A cost segregation study precisely values up to 130 components of real estate that can be valued as short-life property. By obtaining a cost segregation study, it is possible to obtain a windfall of tax deductions by “catching-up” previously under-reported depreciation. This one-time “catch-up” can occur in the first tax return filed after the cost segregation study is performed without filing any amended tax returns. Reviewing fixed asset listings (of business personal property) can generate a meaningful amount of tax deductions. They often include items that should have been expensed, which have been sold or thrown away or which have an excessive depreciation life. Items that should have been expensed include operating expenses (sometimes included by error) and maintenance or repairs (which was necessary but did not increase the life of the assets or component.) Section 179 allows business to use up to $108,000 of 2006 capital expenditures as tax deductions. Confirm you are not capitalizing assets that could be claimed as a tax deduction. Casualty losses also offer opportunity for tax deductions. For a casualty loss, you can deduct: 1) the market value immediately before the casualty less 2) the market value immediately after the casualty less the amount covered by insurance. The portion that is not intuitive is: the market value after the casualty is much less than the value before? plus the cost to renovate. Other factors which can and should be considered for tax deductions are: lost rent/usage, stigma (in some cases), construction management, construction risks, and entrepreneurial effort. Bad debts are a subjective matter. Judgment is required to accurately estimate the amount that should be claimed as a tax deduction. If bad debts have not been examined carefully for several years, they may offer a meaningful tax deduction opportunity. (This applies to companies who utilize accrual accounting. Companies who use cash accounting can’t claim a tax deduction for bad debt since they never recognized the revenue.) Do well by doing good. You reduce taxes in several ways when making charitable contributions. For example, you purchased land 10 years ago for $200,000, and it is now worth $1,000,000. However, you now realize you will never use the land for the intended purpose. You can donate the land to a qualified charitable organization and take a tax deduction for $1,000,000. However, you do not have to pay capital gains taxes on the appreciation. Tax deductions sometimes seem arcane and complicated. However, a knowledgeable team of advisors from several fields can reduce your federal income taxes. The complexity of the tax code makes it difficult for any one personal to be knowledgeable in all areas. Cost segregation produces tax deductions and reduces federal income taxes across the country and in every size market. Below are just a few examples of cities where cost segregation generates meaningful tax deductions. City:



New York, NY

Houston, TX

Hartford, CT

Las Vegas, NV

Memphis, TN

Philadelphia, PA

Orlando, FL

Phoenix, AZ

Atlanta, GA

Bridgeport, CT

Worcester, MA

Akron, OH

Harrisburg, PA

Salt Lake City, UT

St. Louis, MO

Portland, OR

Scranton, PA

Greenville, SC

Bakersfield, CA

Madison, WI

Chicago, IL

Fresno, CA

Riverside, CA

Albany, NY

Indianapolis, IN

Birmingham, AL

Ft. Lauderdale, FL

Baton Rouge, LA

Augusta, GA

Honolulu, HI Cost segregation produces tax deductions for virtually all property types, including the following: Property Type:



Medical facility

Shopping mall

Restaurant

Country club

Fast food restaurant

Power center

Hotel

Car wash facility

Convenience store

Health spa Almost every industry, including the following, can generate cost-efficient tax deductions by using cost segregation. Industry:



Golf courses and country clubs

Transportation equipment manufacturing

Electrical component manufacturing

Real estate lesser

Apparel manufacturing

Wood product manufacturing

Plastic and rubber products manufacturing

Furniture stores

Beverage and tobacco product manufacturing

Building supply dealers



Cheryl Goldmans

NY LAW , ,