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What does Texas law say about a creditor trying to collect a debt from someone who died? You may be surprised to learn that some debts can be erased as part of the probate process, somewhat like discharging debts in bankruptcy. The case of Ullrich v. Est. of Anderson, 740 S.W.2d 481 (Tex. App.‒Houston [1st…Continue…Continue readingProbate Claim vs. Probate Administration Expense The post Probate Claim vs. Probate Administration Expense appeared first on Kreig Mitchell LLC – Texas Attorneys.…
Tax cases are interesting in that they apply a fairly well-developed set of rules to varying fact patterns. These varying fact patterns can result in surprising, and often unintended, consequences. The more complex the tax law in question, the more likely it is that the outcome will be something other than what Congress may have…Continue…Continue readingRental Tax Losses for Those With Irregular Hours The post Rental Tax Losses for Those With Irregular Hours appeared first on Kreig Mitchell LLC – Texas Attorneys.…
As long as the government tries to collect taxes, there will be taxpayers who try to find ways to not pay the taxes. These tax payment avoidance options often involve co-ownership of property or, in many cases, trusts. The recent United States v. Simones, No. 1:20-cv-00795-PJK-SCY (D.N.M. 2021) case shows how the IRS is able…Continue…Continue readingIRS Lien on Trust Assets The post IRS Lien on Trust Assets appeared first on Kreig Mitchell LLC – Texas Attorneys.…
The Tax Cuts & Jobs Act of 2017 changed the choice of entity decision quite a bit. It affords corporate taxpayers the benefit of the lower flat 21 percent tax rate. It provides non-corporate businesses a 20% qualified business income deduction. There were other changes too. This is in addition to the existing tax rules…Continue…Continue readingQualifying for Section 1244 Stock Losses The post Qualifying for Section 1244 Stock Losses appeared first on Kreig Mitchell LLC – Texas Attorneys.…
Spurs fans have a rare chance to own a Tony Parker collectible curated by his No. 1 fan: his mom. Vogt Auction, a San Antonio-based company, is helping basketball mom Pamela Firestone downsize before she moves back to Paris. The estate sale is taking place on site, at her North Central home, on Friday, August…Continue…Continue readingMom of Spurs Legend Tony Parker Hosting an Estate Sale The post Mom of Spurs Legend Tony Parker Hosting an Estate Sale appeared first on Kreig Mitchell LLC – Texas Attorneys.…
The FDA announced on Monday the full approval of the Pfizer vaccine for those 16 and older. That means the vaccine has now undergone extensive review over a substantial period of time —more than six months —to ensure long-term safety, said Dr. Prathit Kulkarni, with infectious diseases at Baylor College of Medicine. A fully approved…Continue…Continue readingWhat Does the FDA’s Full Approval of the Pfizer Vaccine Mean? The post What Does the FDA’s Full Approval of the Pfizer Vaccine Mean? appeared first on Kreig Mitchell LLC – Texas Attorneys.…
United States citizens pay tax on their worldwide income. This general rule can result in double taxation–with the United States imposing tax on the same income that was already taxed by a foreign government. The United States has tax treaties with many countries that help avoid this type of double taxation. The United States also…Continue…Continue readingDefense Contractor Able to Exclude Foreign Income The post Defense Contractor Able to Exclude Foreign Income appeared first on Kreig Mitchell LLC – Texas Attorneys.…
The IRS was recently given a significant increase in its budget. Its request for more money was premised on the need to hire more IRS revenue agents to audit more non-compliant tax returns. While the IRS has in fact reduced its headcount significantly, it has also benefitted from recent tax law changes. Some of these…Continue…Continue readingTax Deductions Associated With “Other Income” The post Tax Deductions Associated With “Other Income” appeared first on Kreig Mitchell LLC – Texas Attorneys.…
More than 10,000 Texans are hospitalized for COVID-19, according to data released by the Texas Department of State Health Services Tuesday afternoon. According to Tuesday’s report, 10,041 people were hospitalized with COVID-19 across the state of Texas on Monday, the highest rate since Feb. 4, as the delta variant continues to dominate new COVID-19 infections.…Continue…Continue readingOnly 27 ICU Beds Left in Houston’s Trauma Service Area The post Only 27 ICU Beds Left in Houston’s Trauma Service Area appeared first on Kreig Mitchell LLC – Texas Attorneys.…
A GoFundMe was created for the young 25-year-old San Antonio woman killed in a fiery wrong-way crash with a suspected drunken driver early Saturday. The crash occurred around 2:45 a.m. in the southbound lanes of Interstate 35 at Walzem Road when a wrong-way driver in a Ford 350 hit a Nissan Rogue, the San Antonio…Continue…Continue readingSan Antonio Nurse Killed in Crash with Wrong-Way Driver The post San Antonio Nurse Killed in Crash with Wrong-Way Driver appeared first on Kreig Mitchell LLC – Texas Attorneys.…