LAS VEGAS – Golden Entertainment, Inc. (NASDAQ:GDEN) (“Golden” or the “Company”) announced that it has sold its subordinated promissory note from the Jamul Indian Village (the “Note”), to San Diego Gaming Ventures, LLC, a subsidiary of Penn National Gaming, Inc. (the “Buyer”), for $24.0 million in cash. Under the terms of the January 2015 merger agreement between Lakes … [Read more...]
Year-End Tax Pointers From a Pro
LAS VEGAS - Relatively new changes in tax law that went into effect in 2013 will again cause many taxpayers to lose certain itemized deductions. But some simple steps can help Nevadans ensure they get the best possible deductions. For example, people who itemize on their form 1040 will lose itemized deductions for medical expenses if those expenses do not exceed 10 percent … [Read more...]
Welcome to Nevada: Tax Changes Looming
Nevada is well known as a corporate tax haven. Many large companies are incorporated in Nevada, particularly those whose headquarters are located in California, Arizona or Utah. There are several reasons for this. One is that Nevada law provides strong protections against holding corporation’s owners responsible for the actions of a corporation. Another reason has to do with … [Read more...]
Jeffrey F. Barr, Esq.: Ashcraft & Barr | LLP
Partner Las Vegas http://ashcraftbarr.com/ If you could be remembered for one thing, what would it be? I would like to be remembered as a gregarious and caring husband, father and lawyer who served his family, friends and community with enthusiasm and joy. What business advice would you give someone just starting in your industry? Be humble. Be inquisitive. Jump in … [Read more...]
Delayed Debt Restructuring Exerts Downward Pressure on Nevada Commercial Real Estate: Tenant-in-Common Properties Generate Drag
Despite slightly improving economic conditions, Nevada’s commercial real estate market continues to face downward pressure as a result of poorly underwritten and grossly overleveraged legacy deals from 2005 to 2007, which are now coming to maturity. This same scenario is playing out in virtually every region across the country. According to data service provider Trepp LLC, U.S. … [Read more...]
Do you have foreign asset disclosure requirements?
Before quickly answering no, consider the following requirements and penalties. The dollar penalties for not reporting are very significant and can go as far as being criminal. The following items are not meant to be all inclusive. The first item is the Form TD F 90-22.1 “Report of Foreign Bank and Financial Accounts”. This form is used to report a financial interest in … [Read more...]
