News & Publications

Outpatient Hospital Status Can Cost You

In recent years, hospitals are increasingly treating patients without officially admitting them to the hospital. For Medicare recipients, being classified as "under observation" rather than "admitted" can have serious financial consequences. A patient's hospital...

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What Tax Records to Keep and for How Long

How long should you keep your tax returns?  Generally, you should keep an income tax return and supporting records (i.e., W-2 forms, 1099 forms, Schedule K-1s, closing statement for the sale of your home, charitable contribution receipts, etc.) at least until the...

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Wisconsin Adopts New Mortgage Satisfaction Law

Wisconsin has adopted new rules governing the process of paying off and satisfying mortgages. The law was born out of the frustration of borrowers, particularly homeowners trying to sell their homes, with unresponsive lenders who delay or fail to furnish payoff...

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Word of the Month: Passive Activity Loss

Today's Real Estate Word of the Month is "passive activity loss." Not all losses are deductible for income tax purposes, especially in the real estate context. It is important for individuals with real estate rental income to understand the limitations on...

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NLRB Gives Up On Posting . . . For Now

Back in early 2011, the National Labor Relations Board (NLRB) proposed a new rule that would require employers to notify employees of their right to organize under the National Labor Relations Act (NLRA). Under Section 7 of the NLRA, "[e]mployees shall have the right...

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Hey, that’s my air! Trespass by Delivery Drone

Imagine that Amazon's Jeff Bezos releases drones, a.k.a. unmanned aerial systems ("UAS"), in your neighborhood which fly over your property to deliver goods to your neighbors. Do you have the right to stop Bezos' UAS from flying over your house? Landowners may assert...

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2014 Inflation Adjustments and Other Tax Changes

The IRS has announced the annual inflation adjustments for the 2014 tax year as well as other 2014 tax changes resulting from recently passed legislation. The following table gives you a general overview of the 2014 adjustments and changes. As always, you should...

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Court Forces Bank to Complete Foreclosure

UPDATE:  The Wisconsin Supreme Court has accepted the Bank of New York v. Carson case for review during its 2014-2015 term. The Wisconsin Court of Appeals recently held that a bank can be compelled to take abandoned foreclosed property to Sheriff's Sale. On November...

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Paying for College in a Tax-Efficient Manner

Providing for the college education of your children or grandchildren may be one of your estate planning goals. There are a number of ways that you can achieve this goal in a tax-efficient manner. Unlimited Gift Tax Exemption for Tuition Paid Directly to an...

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