PASS-THROUGH TAX BREAK FOR WISCONSIN

The federal Tax Cut and Jobs Act caps an individual’s deduction for state income taxes and property taxes.  The cap is $10,000.  The change is effective for 2018.  In December, Wisconsin enacted legislation to help owners of S corporations and partnerships get around the cap.  The new law allows a pass- through entity to elect.

MY CUSTOMER FILED BANKRUPTCY! NOW WHAT?

Without any warning, you receive a notice from a bankruptcy court that a customer who owes you thousands of dollars has filed for bankruptcy. You’ve heard about companies going bankrupt, of course, but you’ve never been in the middle of one. What should you know? The notice should tell you what type of bankruptcy your.

HUGHES NAMED MANAGING SHAREHOLDER

Fox, O’Neill & Shannon, S.C. shareholder Francis J. Hughes has been named Managing Shareholder of the firm. In 2017 and 2018, Fran acted as Co-Managing Shareholder, with FOS shareholder William R. Soderstrom, who acted as Managing Shareholder from 2002 to 2017. Fran counsels large and small businesses in all aspects of their operations, including operational.

Maddente Honored by Susan G. Komen Wisconsin

  FOS associate Lauren Maddente received the Rookie of the Year award for her role as Volunteer and Entertainment Co-Chair at the Susan G. Komen Wisconsin More Than Pink Walk. The award highlights a volunteer who is in their first year in their role but comes on board with a positive attitude and is driven,.

Fraudulent Transfers – Know When to Sue

A debtor, faced with a creditor’s lawsuit or judgment, will sometimes transfer property to a spouse, affiliated business or other third-party, and then claim “poverty” to avoid paying the debt. Wisconsin’s Fraudulent Transfer Act provides remedies for such defrauded creditors. Those remedies, however, don’t last forever. Wisconsin law bars a fraudulent transfer action that is.

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