Monthly Archives: March 2018

CA CLE: LATE DEADLINE IS JUNE 30 FOR CALIFORNIA

California attorneys in Group 2 (H-M) should have completed their CLE completed by February , 2017. However, if you comply with your CA MCLE requirement by June 30, you only have to pay a $75 late fee.[1]

Extensions of Time

If you comply with the California MCLE requirement by June 30, you do not need to request an extension of time. You will be assessed a late fee of $75.

Please remember to properly complete your California CLE requirement. You must complete the proper amount of bias (1 hour), competence issues (1 hour) and ethics hours (4 hours). Also, please make sure that you don’t exceed 12.5 credit hours of self-study credit. For more information about the California MCLE requirement please click the following link CA CLE.

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New CLE: Tax Planning Under the New Tax Law

What a year it’s been for tax and estate planning attorneys – a year of change and uncertainty. However, with the passage of the Tax Cuts and Jobs Act things have become much more clear… or have they? I know that I’ve talked to quite a few attorneys the last few months desperate for a CLE on the new tax law.

Tax Planning – The Tax Cuts and Jobs Act

Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS is working on implementing this major tax legislation that will affect both individuals and businesses.

If you’re one of those attorneys that needs help deciphering the Tax Cuts and Jobs Act, David K. Cahoone will provide his wisdom and guidance on the newly minted tax act so you help your clients chart the best path in these tumultuous times. David will mainly talk about what’s changed & what remains the same under the Tax Cuts and Jobs Act, the increasingly critical role of building flexibility into plans and continuing to help clients discover and set a course for achieving their enlightened dreams. To access the course please click here: Tax Planning: Providing Wisdom and Leadership in Tumultuous Times.

The following will also be discussed:

  • Sunset provisions
  • Transfer tax exemptions
  • Inflation adjustments
  • Trusts and Estates Tax Rates
  • Medicare surtax
  • Chained C-CPI
  • The grand illusion of exemption increase
  • Clawback
  • Marital trust planning
  • Wealth creation, preservation & distribution
  • Portability
  • QTIP-ing with portability
  • When to make a “portability only” QTIP election
  • More basis – the new holy grail of planning
  • Why flexibility in planning matters
  • Protecting inheritances
  • Life insurance
  • Planning for high net worth clients

David K. Cahoone is the Principal at the Law Firm of David K. Cahoone and is a Laureate in Wealth Strategies and Education Fellow at the Southern California Institute. David works collaboratively with other attorneys, CPAs, financial advisors, and insurance professionals to serve the specialized planning needs of individuals, families and business owners.

This CLE course is offered in the following states:

  • Alaska (AK)
  • Arizona (AZ)
  • California (CA)
  • Connecticut (CT)
  • District of Columbia (DC)
  • Illinois (IL)
  • Maryland (MD)
  • Massachusetts (MA)
  • Michigan (MI)
  • Missouri (MO)
  • New Hampshire (NH)
  • New Jersey (NJ)
  • New York (NY)
  • North Dakota (ND)
  • Pennsylvania (PA)
  • South Dakota (SD)

Attorney Credits offers CLE for attorneys in New York and around the country. For more information about CLE in New York please click the following link: NY CLE.

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The Late Georgia CLE Deadline is March 31

If you are an attorney in Georgia and you have not yet completed your 2017 Georgia CLE requirement, you are RAPIDLY running out of time! Georgia attorneys were required to complete 12 GA CLE hours by December 31 to complete the Georgia CLE requirement.

Late GA CLE Compliance

A $100 penalty fee is required if the Georgia CLE hours for the preceding year are not completed by March 31.

If you did miss the December 31 Georgia CLE deadline, you need to get your 12 hours done so you can continue to practice law in Georgia.  Failure to complete the required CLE will result in fines and suspension. For more information about Georgia CLE please click here: GA CLE.

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IL CLE: What is the New Professional Responsibility Requirement For Illinois Attorneys?

Did you know that Illinois attorneys now have ‘new’ MCLE requirements? Traditionally, Illinois attorneys needed to complete 30 total hours, including 6 hours of Professional Responsibility. However, the IL MCLE requirement was recently amended.

New Professional Responsibility CLE Requirement

All Illinois attorneys must how complete:

  • 4 hours of Legal Ethics
  • 1 hour of Diversity & Inclusion
  • 1 hour of Mental Health & Substance Abuse

All Illinois attorneys are now required to complete a minimum of 1 hour of Diversity & Inclusion and 1 hour of Mental Health and Substance Abuse – in addition to 4 hours of Legal Ethics credit.[1] The total number of MCLE credits required in each 2 year compliance period remains at 30. For more information about Illinois CLE please click here: IL MCLE.

[1] Starting with the 7/1/2017-6/30/2019 compliance group the Professional Responsibility requirement has been modified.

New CLE: Succession Planning for Business Owners

Retiring Baby Boomers will sell or bequeath $10 trillion worth of assets over the next two decades. And many of these assets are held in over 12 million privately owned businesses that will be changing hands over the next few decades.

Exit Planning for Business Owners

A recent survey by PricewaterhouseCoopers found that only about 27% of private businesses have done ANY exit planning.

Whether you and your brother are set to inherit the family jewelry business or you have business clients that are getting ready to “cash out,” this two-part presentation will teach you about key considerations in exit and personal planning for business owners. The focus of the first part of the presentation will be on income tax planning. The second part of the presentation will focus on closely held businesses, tax treatment of business entities and variables influencing transfer techniques. To access the course please click here: Exit Planning for Business Owners – Income Tax, Control and Cash Flow.

Additional topics covered:

  • The benefits of exit planning
  • Building your team
  • Transaction readiness
  • C corporation asset sale planning
  • The qualified business income deduction.
  • Intra-family succession
  • Management buy-out
  • ESOP
  • “Maturation” of the buy-sell agreement
  • The sales process
  • Mind-mapping the buy-sell
  • Family members & employees as transferees
  • Other buyers as transferees

Keith L. Troutman is a Partner in Squar Milner’s Tax Department. Michael Shafer is a Principal in Squar Milner’s Tax Department. Joshua Seigel is a senior manager in Squar Milner’s merger and acquisition tax practice. Peter Myers is Certified as a Specialist in Estate Planning, Trust and Probate Law by the State Bar of California’s Board of Legal Specialization. Sean Kenney concentrates his practice in the areas of trusts and estates, business succession and taxation.

This CLE course is offered in the following states:

  • Alaska (AK)
  • Arizona (AZ)
  • California (CA)
  • Connecticut (CT)
  • District of Columbia (DC)
  • Illinois (IL)
  • Maryland (MD)
  • Massachusetts (MA)
  • Michigan (MI)
  • Missouri (MO)
  • New Hampshire (NH)
  • New Jersey (NJ)
  • New York (NY)
  • North Dakota (ND)
  • Pennsylvania (PA)
  • South Dakota (SD)

Attorney Credits offers CLE for attorneys in Illinois and around the country. For more information about CLE in Illinois please click the following link: IL CLE.

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IN CLE: The Late Indiana CLE Deadline is April 15

Indiana attorneys are required to complete at least 36 hours of IN CLE each three-year Indiana CLE compliance period, including a minimum of 3 credit hours of legal ethics. The normal CLE deadline is December 31 if it’s your compliance year.

Indiana CLE – Two Key Points

  1. Indiana attorneys are limited to a maximum of 9 online CLE hours of the required 36 credit hours.
  2. Indiana attorneys must complete at least 6 hours of IN CLE courses EACH YEAR

If you were required to complete the 36 hours in 2017 and you have not yet completed the requirement you have until April 15 to fulfill your Indiana CLE requirement. For more information about CLE in Indiana please click here: IN CLE.

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NY CLE: New York CLE FAQ

How many NY CLE hours do I need to complete?  How many ethics hours are required?  When do I report compliance?  Do providers report my completed courses? Are there special requirements for newly admitted attorneys?

Top NY CLE Questions

  • As an “experienced” New York attorney, what is my CLE requirement?
    • Experienced New York attorneys must complete a total of 24 NY CLE hours every two years. You must complete at least 4 hours of Ethics and Professionalism each two-year compliance period.
  • When must I complete my NY CLE requirement and report my NY CLE compliance?
    • Your NY CLE compliance deadline is your birthday. You have 30 days after your birthday to report your NY CLE compliance.
  • How do I report my New York CLE compliance?
    • The CLE Board will mail you an attorney registration form to report compliance. You must file your attorney registration form and indicate that you have completed your CLE requirement within 30 days after your birthday on alternate years.

If you’re like many New York attorneys – even experienced attorneys – you have questions about your NY CLE compliance. That’s why we created our New York CLE FAQ… so we can help you easily find the information that you need about your NY CLE compliance! For more information about your NY CLE compliance please click here: NY CLE FAQ.

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OK CLE: Oklahoma Late CLE Deadline is March 15

Oklahoma attorneys must complete a minimum of 12 Oklahoma CLE credit hours each year in order to complete the OK CLE requirement. As part of the 12 hour annual OK CLE requirement, at least 1 hour must be approved for legal ethics credit.

Oklahoma CLE Compliance & Reporting

  • Compliance Deadline: December 31
  • Reporting Deadline: February 15
  • Late Deadline: March 15

All Oklahoma CLE courses should have been completed by December 31. If you did not yet complete the 12 required OK CLE hours you must complete the requirement by March 15. For more information about Oklahoma CLE please click here OK CLE.

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New CLE on Copyright, Fair Use & Permission to Use

Copyright protection has become incredibly important for content producers. In our new Digital Age, copyright protected content can be copied, pasted and distributed around the globe in seconds. However, there are many common myths associated with copyright protection, fair use and permission to use copyrighted works.

Copyright Protection & Myths

Are you guilty of telling one of your clients to put their work in a sealed envelope and mail it to themselves??

In this CLE course, Rex Brabson provides an entertaining discussion about key issues in copyright law and the common misconceptions about fair use and permission to use copyrighted works. Rex will mainly cover: the elements to establish a valid copyright, common issues faced by authors & businesses, common myths associated with fair use and permission to use copyrighted works. To access the course please click here: Copyright, Fair Use, and Permissions for Authors.

Evan will also address:

  • The five copyright rights
  • How rights are acquired
  • Original works of authorship
  • Fixed in a tangible medium
  • The value of registration
  • Copyright compared to trademark law
  • Works made for hire, what is not protected
  • The four fair use factors
  • Content that requires permission to use
  • Protection for databases
  • The abstraction-filtration comparison test

Rexford Brabson is of counsel at Branfman Law Group. Rex mainly handles state and federal trademark applications and Responses to Office Actions, in addition to preparing and filing copyright applications. A graduate of the University of San Diego School of Law, Rex was admitted to the State Bar of California in 2014.

This CLE course is offered in the following states:

  • Alaska (AK)
  • Arizona (AZ)
  • California (CA)
  • Connecticut (CT)
  • District of Columbia (DC)
  • Illinois (IL)
  • Maryland (MD)
  • Massachusetts (MA)
  • Michigan (MI)
  • Missouri (MO)
  • New Hampshire (NH)
  • New Jersey (NJ)
  • New York (NY)
  • North Dakota (ND)
  • Pennsylvania (PA)
  • South Dakota (SD)

Attorney Credits offers CLE for attorneys in New York and around the country. For more information about CLE in New York please click the following link: NY CLE.

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Attorney Credits New Webinar Series on YouTube

Have you checked out the Attorney Credits YouTube channel yet???  We recently started a new monthly webinar series that can help you with the business side of running a law firm.  Once we record the webinar we then make it available on our YouTube channel.

We thought this could be a helpful FREE resource for you!  We also thought that you could benefit from some non-CLE content that State Bars will not let us accredit. Topics range from S.E.O to building and managing your online reputation.

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