The critically acclaimed movie, "The Wolf of Wall Street," directed by Martin scorsese and released in 2013, recounted the story of a former stockbroker convicted of fraud crimes related to stock market manipulation as part of a penny stock scam. Leonardo DiCaprio...
PLDO Law Blog
Pannone Lopes Devereaux OGara LLC
What Rhode Island’s New Social Media Law Means to Your Business
Social media's surge in popularity has caused a sea change in how people act and behave, as well as the image they portray, whether intentionally or not. It didn't take long for employers to recognize social media as a useful tool to learn more about potential new...
When It Comes to Your Cell Phone, What Does Your Right to Privacy Include?
If you are one of the more than 90% of American adults who own a cell phone, consider for a moment what your device contains. Millions of lines of text? Hundreds of personal photographs? Your internet search history? Confidential or proprietary documents attached to...
Is A Not For Profit Organization Permitted To Engage In Lobbying Activities?
Lobbying provides an avenue through which charities can create change in communities and be a voice for the marginalized or disenfranchised in society. However, organizations exempt from taxation under the Internal Revenue Code ("IRC") Section 501(c)(3) are expressly...
SO, YOU WANT TO WRESTLE AN ALLIGATOR?
Before base jumping into the miasma of risk, the first thing you should do is make sure your estate plan, in its current iteration, meets your needs and has adapted to any challenging or changing family situation. A well-rounded estate plan is literally more of a life...
HOW LIFE INSURANCE PROCEEDS COULD AFFECT A COMPANY’S VALUATION FOR ESTATE TAX PURPOSES
A recent case brought to light the impact that a stock-purchase agreement and life insurance proceeds may – or may not - have on the valuation of a closely held company for estate tax purposes. In this case that caused a split between the 8th and 11th Circuits, the...
HASTE MAKES WASTE . . . CASH THE CHECK.
One never knows what corner the grim reaper lies behind. A final illness can often accelerate quickly and deprive a donor of adequate time to complete gifts for tax purposes that he intended to make. In a recent federal court case, the Third Circuit Court of Appeals...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
