http://www.maximumassetprotection.com/blog.aspx The weekly asset protection blog keeping you up to date on what's going on in the world of asset protection law and techniques. blog@maximumassetprotection.com (Jacob Stein, Esq.) Copyright (c)2009 Klueger & Stein, LLP - All Rights Reserved en-us http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2516 On May 29 the Governor of Nevada approved Nevada Senate Bill 350 which creates a new type of limited liability companies and limited partnerships. For simplicity, we will focus on the LLCs only. blog@maximumassetprotection.com (Jacob Stein, Esq.) Fri, 05 Jun 2009 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2516 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2515 Every day more and more Swiss banks say "no" to US business. This year alone 7 Swiss banks that we regularly did business with told us that they will be kicking out all US clients and not accepting any new business. blog@maximumassetprotection.com (Jacob Stein, Esq.) Wed, 06 May 2009 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2515 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2514 Several years ago the Justice Department subpoenaed names of Americans who had Visa and MasterCard accounts with offshore banks. The IRS then offered these taxpayers a choice, come forward voluntarily and we will waive criminal prosecution and some monetary penalties, or wait until we get to you and then take the risk of criminal penalties. blog@maximumassetprotection.com (Jacob Stein, Esq.) Tue, 31 Mar 2009 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2514 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2513 Last week I travelled to Zurich to meet with several Swiss private banks. We do a lot of business with Swiss banks, and the past few months have brought about many changes. blog@maximumassetprotection.com (Jacob Stein, Esq.) Sat, 21 Mar 2009 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2513 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2512 Is it ever too late to protect assets? The answer is of course! How about when a lien is placed by a creditor on the debtor’s assets. blog@maximumassetprotection.com (Jacob Stein, Esq.) Wed, 04 Feb 2009 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2512 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2511 It is bad enough that most of the people who invested with Madoff will lose a significant amount of their wealth. It is also possible, in fact, likely, that many of the investors who received distributions from Madoff or pulled their money out in time may have to return the money. blog@maximumassetprotection.com (Jacob Stein, Esq.) Fri, 19 Dec 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2511 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2510 There is a lot of excitement in Washington coming on the heels of the election. Change is in the air, and with this change comes the promise of higher income taxes. blog@maximumassetprotection.com (Jacob Stein, Esq.) Wed, 19 Nov 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2510 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2509 The economic woes that have already impacted so many businesses are a boon for those of us who practice in the area of asset protection. About one year ago the flood gates opened and mortgage bankers, mortgage brokers and real estate developers poured in. blog@maximumassetprotection.com (Jacob Stein, Esq.) Wed, 01 Oct 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2509 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2508 The UBS scandal may have had a more profound impact on asset protection planning than previously suspected. blog@maximumassetprotection.com (Jacob Stein, Esq.) Mon, 18 Aug 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2508 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2507 It always surprises Americans that the U.S. banks that they have all heard about so much are not necessarily the largest banks in the world. blog@maximumassetprotection.com (Jacob Stein, Esq.) Mon, 11 Aug 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2507 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2506 Following the indictment of several UBS AG (Switzerland) employees, the Justice Department requested permission from federal court to have the Internal Revenue Service issue John Doe summons to UBS AG (the Swiss parent of UBS). The John Doe summons will instruct the Swiss bank to provide to the IRS information on all U.S. taxpayer who may have bank accounts with the bank in Switzerland. blog@maximumassetprotection.com (Jacob Stein, Esq.) Tue, 08 Jul 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2506 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2505 A recent Wall Street Journal has an article entitled Property Investors Fear Gains-Tax Rise, Shift 1031 Strategy. blog@maximumassetprotection.com (Jacob Stein, Esq.) Sat, 31 May 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2505 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2504 The State of New York has passed a new law scheduled to go into effect June 1, 2008, requiring internet retailers to collect sales taxes. The new law is expected to generate an additional $78 million of revenue per year for the state. Several other states, including California, are considering similar laws. blog@maximumassetprotection.com (Jacob Stein, Esq.) Sun, 18 May 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2504 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2503 The big tax news this month was the Justice Department’s loss in the Wesley Snipes case. Snipes has been cleared of federal tax-fraud and conspiracy charges, but was convicted on three misdemeanor counts of failing to file a tax return. He now faces up-to three years in a prison for the misdemeanor convictions. blog@maximumassetprotection.com (Jacob Stein, Esq.) Wed, 07 May 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2503 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2502 In response to Sen. McCain’s proposed tax plan an article in today’s Washington Post (McCain’s Plan for Working Class Offers Plenty for Corporate World) blasted the tax plan as pandering to corporations and businesses. The cry was picked up by several other publications as well. What is the proposed plan and does it amount to pandering? blog@maximumassetprotection.com (Jacob Stein, Esq.) Thu, 17 Apr 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2502 http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2501 Following the credit crunch of August 2007, the real estate market has experienced a significant decline. Many of our clients are heavily invested in real estate or are involved in various development projects. For them, the reality of the declining market means a lot more than an interesting headline. It means that their entire estate may be facing a risk of loss. Here is a real life example. blog@maximumassetprotection.com (Jacob Stein, Esq.) Thu, 20 Mar 2008 00:00:00 GMT http://www.maximumassetprotection.com/blogdetail.aspx?BlogID=2501