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February 22, 2024 Davis Law Group

People often equate federal tax-exemption with 501(c)(3) organizations. 501(c)(3) organizations are just one of many types of organizations that are eligible for tax-exemption. There are 29 tax-exempt groups mentioned in § 501(c) of

February 15, 2024 Davis Law Group

Difference Between Wills and Trusts A will is a document that provides instructions for how to distribute a person’s assets after death. A will only becomes effective upon the testator’s death, so the

February 8, 2024 Davis Law Group

Before deciding to modify a trust, it is important to consider the tax implications of such action. Modifying a trust could adversely affect income, gift, estate, and/or generation-skipping transfer taxes. Trusts generally are

February 2, 2024 Davis Law Group

Historically, Virginia has limited the availability of divorce, requiring that the spouse seeking divorce present evidence showing that the other spouse had caused the marriage to deteriorate. If the court was not convinced

January 25, 2024 Davis Law Group

An Employer Identification Number (EIN) is a type of Tax Identification Number (TIN). There are many kinds of TINs, including Social Security Numbers (SSNs). An EIN is like a SSN but is used

January 16, 2024 Davis Law Group

Contracts are the foundation of modern business relationships. Contract law as we know it today originated in English common law, but contracts have been around since ancient times. Many of the earliest examples

January 12, 2024 Davis Law Group

Business owners must constantly weigh risks versus rewards when evaluating growth strategies. One such example is investing in the ownership of commercial property, which involves more responsibilities and expenses than leasing a space.

December 29, 2023 Davis Law Group

Groups exempt from federal income taxation under § 501(a) must file Form 990 to report on their finances, activities, and governance. The IRS uses Form 990 to gauge whether tax-exempt organizations are adequately

December 14, 2023 Davis Law Group

Setting up a nonprofit on your own can be confusing. People generally use the word “nonprofit” to refer to groups that are exempt from federal income tax under Internal Revenue Code Section 501(c)(3).

December 7, 2023 Davis Law Group

While many employers discourage employees from discussing wage and compensation with each other, it's important for you to know that all employees have the right to discuss their wages under both federal and