I have had a very busy fall. I settled a major tax case in late September and several new commercial litigation matters have come into my office. Existing clients seem to be busier than several months ago and I hope we are seeing the beginning of an upturn in the economy.
Year-End Tax Planning
This is the time of year when you should start doing year-end tax planning, if you haven't already started. This is a difficult year to plan because the federal tax situation is so muddled. Here are a few thoughts for 2010 and beyond:
(1) Capital gains tax rates will almost certainly be raised at some point in the near future. If you have substantial assets that you are considering selling that that are capital assets, you should consider selling in 2010 in order to minimize the tax;
(2) Marginal tax rates are also likely to be increased in 2011 or 2012. This may argue for accelerating some income into 2010, instead of the usual technique of deferring income into the next tax year;
(3) Some new tax breaks are available for small business from the tax bill passed recently (see my September 2010 Newsletter). Make sure that you take advantage of all of these in 2010 and plan to take maximum advantage of them in 2011.
If I can assist you with any tax planning issues, please let me know.
Protecting your Intellectual Property
I represent a lot of new companies and one of the questions I often get is how they can maximize the value of their "brand". I always recommend that a new company move immediately to apply for a federal trademark for their name and their logo. Even if you think your company is not the next "Google" or "Ebay", your company will spend a lot of money advertising and promoting its products or services, and it is important to ensure that your name cannot be used by a company in the same industry or a related industry.
Filing a trademark application for either your name or your logo is relatively simple and inexpensive. My colleagues and I can develop a plan for you to receive this protection, which will ensure that you maximize the value of your company in the future.
If you are considering a federal trademark registration, please contact me to assist you with this.
I have appreciated your kind comments about my Newsletter in these past few months. Please let me know about other topics that you would like me to cover. Also, please feel free to forward this Newsletter to your colleagues or friends. Thanks.
