Every nonprofit organization that qualifies for a tax exemption under Internal Revenue Code Section 501(c)(4) is a private foundation, unless it falls into an excluded category. According to I.R.C. Section 509(a), the following organizations are considered "public...
Creative Solutions. Dedication. Guidance.
Month: May 2016
Remember Our Fallen Soldiers this Memorial Day
We hope you'll take time on this holiday weekend to remember and honor the brave soldiers who've died in service to this great nation. Remember, freedom is not free.Happy Memorial Day from our families to yours!
How Do I Serve a “Dissolved” Corporation?
From time to time, civil litigation requires that a litigant sue a dissolved corporation. At common law, a corporation ceased to exist and could not sue or be sued once it had dissolved, but the California legislature abandoned these common law rules in 1929. See...
What is an “s-corporation”? How do I make an “s-election”?
Many small businesses regularly use the term "S-Corporation", but we've found that only a handful of people actually understand what this means. In general, when a corporation is formed, it will be treated as a "C-Corporation," which means that the entity will be...
Multiple People File Claims to Prince’s Estate
In the past week, several stories regarding claims to Prince's estate have been reported that have sparked the interest of estate planning professionals across the United States.First, an inmate in Colorado has come forward claiming to be the biological son and legal...
Proper Estate Planning Includes Funding Your Revocable Trust
Funding your revocable trust is vital to proper estate planning. Failure to do so may result in a rocky road in the years to come. For example, in one recent appellate case, Carne v. Worthington, the court considered whether the trustor had transferred real property...
Restriction of Political Campaign Intervention by Section 501(c)(3)
Tax-exempt nonprofit corporations in this controversial election cycle need to be mindful of the restrictions related to political activity. A reminder to 501(c)(3) tax-exempt organizations regarding specifically the absolute prohibition against support or...
3 Steps to Successfully Start and Operate a Nonprofit
Forming a Nonprofit Organization: Before an entity may quality for tax-exempt status with the IRS, it must be created as a corporation, a trust, or an unincorporated association (note: partnerships generally do not qualify). In California, the nonprofit formation...
“Glamour, Glitz, Hats & Heels” Returns May 20
In just ten (10) days, "Glitz, Glamour, Hats & Heels, an afternoon tea and social" returns to the City of Carlsbad. On Friday, May 20th at the Sheraton Carlsbad Resort & Spa, The Loftin Firm, P.C., the Carlsbad Chamber of Commerce, and Savvy Women Wealth...
Carson Mobilehome Rent Control Case: A Loss for the City
A federal jury found that the City of Carson, through its Mobilehome Park Rent Control Ordinance, violated the Park Owner's (Jim Goldstein) Fifth Amendment rights by denying a fair return on his property, Colony Cove Mobilehome Park. According to the Los Angeles...
