ARE THERE PROBLEMS WITH MINORS IN TITLE?
There are times when a minor is in title to real estate. Maybe the deed from Mom & Dad says “Susan B. Jones, a minor.” Or, when she shows up to sign papers, the real estate broker notices the nanny who brought her in. Of course, a child can inherit property. The parents never intended for the child to own it so soon, but it happens.
Most of us know there may be a problem, but what is it, exactly? Can little Suzie even be in title? Can she convey or mortgage the property? How?
Minors in title to real estate full post
(870 words, 1 image, estimated 3:29 mins reading time)
Considering or Using Bitcoins or Other Cryptocurrency? You Need to Know the Financial and Tax Implications
Sometimes what’s in a name really does matter; it creates expectations.
Consider bitcoin. You can buy things with bitcoins. You can choose to accept payments using bitcoins. As their name suggests, they’re even called coins.
But in spite of all that, the IRS doesn’t consider them coins — or any type of currency for that matter. Instead, it considers bitcoins and other cryptocurrencies to be property. Cryptocurrency substitutes for a real currency and has an equivalent value in real currency but isn’t actually currency — and therein lays the problem.
Using Bitcoins or Other Cryptocurrency full post
(1179 words, 1 image, estimated 4:43 mins reading time)