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Commentary and Analysis Regarding Colorado Law

Subcategories from this category:

Ethics/Professionalism

Take the Gain, Pay the Tax and Run?

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Each Presidential candidate has put forth a proposed plan for Federal taxation of long-term capital gains which, if passed into law in 2021 or beyond, could have major impacts on your decision regarding the timing of sales or transfers of appreciated capital assets.  

1. Mr. Trump has proposed reducing the maximum long-term capital gains tax rate from the current maximum of 20% to 15%. Assuming you sell capital assets in 2020 and have a taxable gain amount greater than $250,000, you’d also owe the Net Investment Income Tax (NIIT) percentage of 3.8% on the amount over the $250,000 threshold (if married, $200,000 for singles), for a combined tax rate of 23.8% on the long term capital gain. Obviously, if Mr. Trump’s plan to reduce the maximum tax rate to 15% is adopted in 2021 by Congress, your tax bill would be favorably impacted if you wait until 2021 or later to sell the capital asset.

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Financial Danger Ahead: See Your Financial Advisor/Attorney Now

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Assuming a regime change in Washington, the Biden tax plan proposes monumental changes that will have a massive impact on how many individuals (this means you) have structured their estate plans and finances for decades. Some of the things that should be discussed NOW with your financial consultant:

 

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Real Estate Rescue – Government Help for Commercial Property


This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on a proposed Bill called the “Helping Open Properties Endeavor Act of 2020,” establishing a loan fund to avoid a wave of property foreclosures. 

HOPE Act: Early Thoughts on a Possible Rescue Plan for Real Estate

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COVID-19 and Potential Employment and Liability Issues

April 24, 2020
COVID-19 and Potential Employment and Liability Issues
By Brian L. Allard, Associate

As businesses confront challenges not seen in generations, due to the COVID-19 crisis, it is extremely easy to become complacent with basic personnel and business liability matters. Yet now more than ever, businesses must stay vigilant. As revenues drop and payrolls become more difficult to maintain, wage and hour disputes will become more and more prevalent. Even in a crisis, businesses must pay their employees. Also, in financially difficult times more scrutiny will be placed on employees’ wages and hours. More information regarding wage and hour laws in the state of Colorado can be found here.

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1031 Exchange and Opportunity Zone Investment Deadlines Extended

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April 15, 2020
1031 Exchange and Opportunity Zone Investment Deadlines Extended
by 
Cameron A. Grant

On April 9, 2020, the Internal Revenue Service issued Notice 2020-23 extending certain deadlines provided by the Internal Revenue Code for taxpayers either engaging in Section 1031 like-kind exchanges or making investments in Qualified Opportunity Zone Funds.

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COVID-19 ALERT: Beware of Scams

April 15, 2020
COVID-19 ALERT: Beware of Scams

by Jennifer M. Spitz, Shareholder

During the COVID-19 pandemic, there are many examples of altruism and community support.  Unfortunately, though, not everyone has good intentions.  Some people use this difficult time to try to defraud others.  Below are some examples to watch out for.

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PPP Loan Update:  YOU ARE APPROVED!  Now What?

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Lyons Gaddis Covid-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on the new PPP Loan Program and recommendations for managing your loan proceeds. 

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PPP Loan Update:  Borrow Now or Wait?

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Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on the new PPP Loan Program and the timing of borrowing funds. 

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CARES Act Protections for Tenants, Landlords and Borrowers

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on the CARES Act as it relates to tenants, landlords and borrowers.

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2020 Notary Public Alert: COVID-19 Emergency allows for TEMPORARY remote notarization

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on the new procedures for remote notarization in Colorado.

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COVID-19: Tenant Checklist

Tenant Checklist

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on the challenges faced by tenant business owners facing financial challenges and operational constraints in the wake of the COVID-19 outbreak.

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UPDATE: SBA Economic Injury Disaster Loans (EIDL)

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on small business owners who are dealing with closures and other challenges in response to recommended or mandated social distancing measures in the wake of the spreading coronavirus 

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FORM - Certification Letter for Workforce Travel

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert provides a sample form for use by companies designated as “Essential Businesses and Operations” under Governor Polis' Executive Order D2020-017 (as amended) exempting certain critical services from the stay-at-home Order.

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COVID-19 EMPLOYER CHECKLIST

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on specific issues for employers in response to the current crisis.

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ALERT: COVID-19 and Contract Issues

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on clients dealing with contract rights and obligations in the wake of the spreading coronavirus. Parties to a contract should confer with counsel regarding the particulars of your contract and your specific situation.

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ALERT: Governor Polis Signs Executive Order Regarding Paid Sick Leave

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Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on Colorado Governor Jared Polis’ recent Executive Order regarding paid sick leave.

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ALERT: Small Business Funding and Colorado Disaster Loans

Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses on small business owners who are dealing with closures and other challenges in response to recommended or mandated social distancing measures in the wake of the spreading coronavirus 

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ALERT: Congress Enacts Families First Coronavirus Response Act

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Lyons Gaddis COVID-19 Alert

This Alert is one in a collection of articles created by Lyons Gaddis in our effort to get important information to our clients regarding the effect of the novel coronavirus (COVID-19) outbreak in the United States.  This Alert focuses the newly adopted Families First Coronavirus Response Act and its effect on student loans and a recently announced interest waivers.

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Corporation vs. LLC: Which Form of Entity Makes Sense for Your Business?

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One of the most critical decisions for business owners is how to organize or incorporate their business. It’s a decision that should be made after detailed conversations with a CPA and a lawyer. Two of the most common and most useful business entity forms are the corporation and the limited liability company. Depending on how business owners foresee the future of the business and its particular needs, either can be a fine choice. Corporations and associations are guided by the Colorado Revised Statutes Title 7.

Limited Liability Companies (LLCs). The limited liability company (“LLC”) is the most popular form of entity for small business owners for two main reasons. First, the legal requirements of running an LLC are much more flexible, while laws governing corporations are extensive and require a number of formalities to be observed. Some of these formalities include required annual meetings, required assigned officer positions that must be filled by individuals (e.g. President or Secretary), and required disclosures to be made on shares or shareholders. The laws governing LLCs give much more leeway to a business owner to run the business as the business owner sees fit. Second, LLCs are often attractive to small business owners because they are pass-through entities for tax purposes, meaning that the LLC itself does not pay any tax whatsoever. Instead, the profits and losses of the company are passed through to the members. As a result, most small businesses without numerous individual owners prefer the LLC form. To apply for a LLC in Colorado, use the Colorado Secretary of State website to apply. Name requirements have been set by the Colorado Revised Statutes.

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Creating a Condo Association in a Commercial Setting

Condos

If you own a commercial building and are looking to get the most value out of your investment, one option to consider is creating a commercial condominium association.  This article will explore some of the benefits of commercial condos, and provide a brief overview of the process to create a condo association.  A condominium is a form of ownership of real property within a common interest community where portions of the real estate are designated for separate ownership, and the remainder is designated for common ownership. Colorado permits this form of ownership pursuant to the Colorado Common Interest Ownership Act, C.R.S. § 38-33.3-101 et seq. (“CCIOA”). According to CCIOA, no zoning ordinance, or other real estate use law or regulation may impose any requirement upon a condominium which it would not impose upon a physically identical development under a different form of ownership.  In other words, merely converting the ownership of the real estate to a condominium should not require additional governmental approvals or intervention.

In a commercial context, such as an office or industrial building, this form of ownership can create flexibility and value for an owner by creating individual saleable assets (units). Creating condos allows a building owner to avoid having to sell the property as a whole, and/or avoid going through a costly and time-consuming subdivision process to subdivide the land.  Additionally, the owner (called the “declarant”) has complete control over the condo process and result; including the control to define the specific offices, buildings, floors, and common areas, and control to determine the terms of the association and the management. Once the project is finalized, the declarant even has the control and flexibility to sell off some of the units, and retain ownership of others. Condos also offer an attractive form of ownership for potential buyers. Each unit owner becomes an owner in the association, allowing for the right to vote on important management issues, and the sharing of common expenses – typically determined by the square footage of a unit in relation to the building as a whole.  Potential buyers may appreciate that the common elements, such as structural building components, landscaping, and parking areas are all maintained by the association.  Business owners may also recognize that when they purchase a condo they are building equity in their business, rather than throwing money away for rent.

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Serving The Entire State Of Colorado
Map and Directions


Longmont Office

515 Kimbark Street, Second Floor
Longmont, CO 80501
Phone: 303-776-9900 
Maps & Directions

Louisville Office

950 Spruce Street, Unit 1B
Louisville, CO 80027
Phone: 720-726-3670 
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Satellite Office

748 Whalers Way, Suite # 240A
Fort Collins, CO 80525
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