January, 2015

Annual and Membership Meetings May Be Adjourned to Obtain Additional Votes

January 27th, 2015

Posted in Condominium & Homeowner Association Law

An all too common scenario for condominium and homeowner associations (HOA’s) in Florida is the lack of participation at an annual meeting, where the election of directors is typically required to occur along with any special membership vote or a special membership meeting called to vote on a matter requiring membership approval.  While the quorum requirements to hold such a meeting are generally found in the association’s governing documents, by law the quorum can be no higher than thirty percent (30%) of the entire membership.
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Mortgage Forgiveness Debt Relief Act Extended to Cover Any Mortgage Debt Cancelled Through Year-End 2014

January 22nd, 2015

Posted in Asset Protection,Estate & Personal Planning,IRS & Tax Information,Real Estate Law

In a previous blog (click here), we posted about the Mortgage Forgiveness Debt Relief Act (“MFDRA”) and how it had yet to be extended by Congress to cover mortgage debts forgiven in 2014.  MFDRA prevents homeowners who went through a short sale, foreclosure sale, a principal reduction, or some other type of waiver of a deficiency regarding their primary residence from being taxed on the amount of mortgage debt cancelled or forgiven.
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Tax Break Approved for Breastfeeding Mothers

January 19th, 2015

Posted in General Practice,IRS & Tax Information

The Internal Revenue Service has made a change to a policy that was rejected in 2010.  Based on the proven health benefits of breastfeeding for women and their children, the IRS will now allow mothers to count the costs of breast pumps and other supplies as a medical deduction on their taxes.  Breastfeeding women can spend as much as $1,000 each year on nursing supplies, thanks to the efforts of the American Academy of Pediatrics and other breastfeeding advocates that fought in recent years to advance this proposal.
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