Welcome to Straight Talk. We at Legacy Legal and Family Legacy Trainings appreciate your enjoyment of our weekly insights on the relationship between estate planning, tax law, financial matters and human dynamics.
Last week we provided our readers with a special edition on the new tax law. This edition we thought we would continue the discussion of changes in the New Year relating to taxes and beyond. We hope you enjoy this edition. P.S. In no way are the titles meant to offend anyone or anything. I am sure some people somewhere had a true interest in seeing these laws passed.
THE GOOD
1. You know the disclaimer at the bottom of every email that you get that says that nothing contained in this email can be considered as tax advice or anything like it? Did anybody care? Even in emails having nothing to do with tax advice we saw the disclaimers. Well the IRS finally did something good and eliminated a whole bunch of rules for tax advisors so we can stop using this ridiculous statement.
2. D is for dental assistants. AB 667 authorizes dental assistants to apply fluoride to the teeth of school kids, under the “general direction” of a dentist.
3. R is for raffles. SB 200 allows raffles for charities and other nonprofits to be advertised – but not conducted – via the Internet.
4. U is for unclaimed property. AB 1291 strengthens the current unclaimed property law by increasing requirements for banks and other institutions to inform customers about dormant accounts and other assets.
5. Effective August 6, 2009, this new law provides that a Good Samaritan who renders medical or non-medical care at the scene of an emergency would not be liable for any civil damages.
IT’S NOW A LAW
1. M is for Milk. SB 572 designates May 22 as Harvey Milk Day, and requires schools to observe the birth date of the assassinated gay rights leader as a “day of special significance.”
2. O is for oil spills. AB 305 imposes jail time for those convicted of knowingly failing to report oil spills, or lying about them.
THE DOWNRIGHT STUPID
1. K is for Kingsburg. SB 532 cedes state control of part of State Route 201 to the Fresno County town of Kingsburg, in part so town officials don’t need state permission to close the route for the annual Swedish Festival. O.K. I am sure this is important to Fresno but do we have to have a law for every little thing? Can’t they just say go ahead and do what you need to do?
2. B is for bicycles. SB 527 allows the operation of bikes without seats on state roads, as long as the bike was built that way on purpose.
3. C is for cows. SB 135 makes it a misdemeanor to chop off a cow’s tail, except for when it’s medically necessary.
4. V is for video. AB 62 allows people to drive vehicles with video screens operating in the front seat, as long as the driver can’t see them.
Planning, Planning and Planning is how our company is uniquely positioned to guide you and help you relax through these turbulent times. We offer a team of very experienced professionals to put you at ease and give you peace of mind that your plans will work.
Thank you for being a part of our Straight Talk community. We educate, transform and inspire business owners and families in changing the way they think and talk about wealth in money, values, beliefs and traditions. Unite, align and nurture so you can preserve and protect wealth and leave each generation achieving collaboration year round. Legacy. What is your Legacy?
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