Brazeau, Wefel, Kryshak & Nettesheim, L.L.P.

  • Phone:715-423-1400
  • Fax:715-423-3230
  • Email Us
262 West Grand Avenue Wisconsin Rapids WI 54495 U.S.A. View Map

Taxation

Life Insurance Proceeds
If you receive the proceeds from a life insurance policy after the insured died, you do not include those amounts in gross income for the purposes of federal income taxation. The proceeds are properly excluded no matter whether they represent a return of paid premiums, the increased value of the policy due to investment, or under a death benefit feature included in the terms of the policy. It is also immaterial whether the beneficiary is a family member or another individual, or a corporation or a partnership. More...
Excessive Compensation of Officers by Tax-exempt Organizations
The Internal Revenue Service is concerned that some charities and private foundations are abusing their tax-exempt status by paying exorbitant compensation to their officers and other insiders. In an attempt to identify and combat this abuse, the IRS has established the Tax Exempt Compensation Enforcement Project, which seeks to gather information from almost 2,000 organizations about their compensation practices and procedures. The enforcement project consists of examinations as well as other contacts. More...
Partnership Audits
Even though it is the individual partners, not the partnership, that are responsible for reporting and paying taxes on any gains or losses recognized by the partnership, audit proceedings on partnership items are conducted on the partnership, not the individual, level. More...
Civil Damages for Collection Actions
What if you feel that an Internal Revenue Service employee intentionally disregarded the law in collection procedures against you? Do you have any recourse against the government? Surprisingly, depending on the facts of your case, the answer just might be yes. More...
Equipment Leases - Should They Be Depreciated or Expensed
You are leasing a large piece of equipment for use in your business. As you are preparing your income tax return, you wonder whether the total cost of the monthly lease payments can be taken as rent expense or whether you have to allocate the cost of the equipment over its estimated useful life (called depreciation). If you had purchased the equipment, you know that the Internal Revenue Code would generally require depreciation. More...

Areas of Practice

  • Banking
  • Corporation
  • Elder Law Trials in State and Federal Courts
  • Environmental
  • Estate Planning
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This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Brazeau, Wefel, Kryshak
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