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A Note from the Issue Editor: Kristen E. Simmons, Esq.

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It’s tax time! April brings federal income tax liabilities for us all. While you are focusing on making the April 15th deadline, why not also review some important topics in Tax Law? This issue will help you do just that. In the first feature, Jeremy Cooper outlines different tax implications and elections for Limited Liability Companies. This article is a must read for attorneys that are forming limited liability companies under Nevada’s favorable Limited Liability Company Act. The second feature highlights methods for shifting income tax liability by using trusts. Typically thought of as estate planning tools, trusts are now being used more and more to shift lifetime tax liabilities, such as income tax. The third feature, by Dan McGuire, explains Treasury Inflation-Protected Securities and the tax consequences and considerations related thereto. Be sure to read this article closely, as it can count for CLE credit if you successfully complete the quiz that follows. Next, in our fourth feature, read up on the 12 biggest tax mistakes made by business owners. This article, by Brent Jourdan, can help not only your business clients, but also your law practice. Another feature, by Jason Walker and Jeffrey Burr, provides highlights of changes to estate and gift tax laws that should be considered by any attorney that prepares estate planning documents. Our final feature by Jon Eric Garde outlines specific considerations related to AB74. This bill, which became effective March 1, 2014, outlines rules related to Document Preparation Services here in Nevada. Although not tax-law specific, this article is a helpful resource to understand the new rules as they relate to the unauthorized practice of law by non-attorneys.
KRISTEN E. SIMMONS is a member of the law offices of Oshins & Associates, LLC in Las Vegas, Nevada. She practices in the areas of estate, business and asset protection planning. She can be contacted at
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April 2014 Nevada Lawyer 5

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