The DLF Blog

In January 2021, very soon after President Joe Biden was inaugurated, the Department of Labor (DOL) withdrew a clarification to the employee vs. independent contractor distinction which was developed during the Trump administration. This proposed clarification was supposed to formally take effect on March 8, 2021. However, after being temporarily paused back in January, the DOL recently announced in May that the proposal has been permanently canceled.

As we’ve been discussing on previous blog posts, IRC Section 1031 is among the most significant tax benefits for Arkansas taxpayers. Section 1031 allows Arkansas owners of investment or business real estate to defer capital gain taxes when they reinvest in like-kind real estate. The rules of Section 1031 are complex.

A divorce can be an extremely difficult thing to experience. An acrimonious divorce can be both physically and mentally exhausting. Things can get even more challenging when a child is involved. Parents who are preparing to undergo a divorce in Arkansas tend to have many questions on their mind.

Alimony – also referred to as “spousal support” or “maintenance” – is among the most controversial topics in family law throughout the country. Here in the State of Arkansas, judges can award several different types of alimony, and they can also modify alimony arrangements if certain changes occur.

The legal process of divorce can be among the most emotionally draining and difficult things a person can undergo. Most people struggle to cope with the financial and emotional stress customary to the normal divorce process. Given the heavy demands of the divorce process, many people are turning to an alternative method of dissolving a marriage: mediation.

In law and finance, professional certifications and acronyms are plentiful! Whether you’re running a business or your household finances require more than a simple state and federal tax return, you need a team of professionals to protect your assets and help you meet your growth goals. But do you need a tax attorney and a CPA? What’s the difference between these two professions and how do they help you manage your finances?

The terms “corporate” and “business” seem to go hand in hand, but there’s a difference between corporate law and business law. These practice areas require specialty lawyers and specific experience. How do you know whether to hire a corporate lawyer or a business lawyer?

Attorneys often practice in more than one area of the law. When it comes to planning for your end of life needs, you’ll likely hear about two areas of the law that are closely related – probate and estate law. While these practices are closely related, there are important differences between probate lawyers and estate lawyers that you need to consider.

The coronavirus pandemic has left millions of Americans struggling financially. Layoffs, reductions, furloughs, etc. mean people aren’t able to make payments on their homes, cars, utilities, and other necessities. In some cases, bankruptcy is inevitable – and often it is a better choice than paying for your bills with your retirement funds. Every case is unique, but in many cases, you can keep your retirement when you file for bankruptcy.

For most small businesses, LLCs are best because you have more tax options and less formal requirements.