The Hood Law Group

01/10/2023

https://hoodlawgroupkc.com/the-importance-of-password-management-in-estate-planning/

If something were to happen to you, do your loved ones have the tools to manage your digital affairs?

When we talk about helping an elderly parent manage their affairs during their golden years, or wrapping them up after they pass, we often talk about certain practical considerations that fall outside of the strict legalities of wills, trusts, and powers of attorney. Clients are often advised to giv...

12/28/2022

https://finance.yahoo.com/news/irs-ditches-new-tax-requirement-for-now-that-would-have-caused-lots-of-confusion-160527501.html

Some welcome news for taxpayers and tax professionals alike to welcome in the new year! In a last minute move, the IRS has postponed the rollout of lower $600 threshold for Forms 1099-K, amidst widespread confusion over who would receive such forms and how to properly account for non-taxable items such as bill-splitting and gifts.

The IRS is delaying the new $600 reporting threshold for 1099-K tax forms.

10/21/2022

We are just a week or two away from completing our remodeling efforts here at 4233 Roanoke Road. We will likely have five extra offices for professionals to lease, with opportunities for attorney referrals and networking. In addition, the office suite in our building formerly occupied by the late Brandon Burkhart and his law firm will be available the 1st of November. This office suite comes furnished with desks and a beautiful conference room. It is 3,200 square feet of space and is reasonably priced. Please message or call us if interested – 816.561.5000.

04/06/2022

It is that time of the year when people determine whether they will receive a tax refund or owe a tax liability, and Taxpayers should be aware that the IRS is likely to step up their audit game this year due to the pandemic-inspired federal grant, loan, and tax-credit programs.

02/04/2022

https://hoodlawgroupkc.com/tax-filing-season-is-here-and-there-is-plenty-of-frustration-to-go-around-what-do-taxpayers-need-to-know/

The first step for every taxpayer is to gather all relevant tax documents. Second, take a mental inventory of your life in 2021. Did you have any major changes that would potentially impact your taxes, such as a divorce, a sale of your primary residence, start a new business, changes in your depende...

09/16/2021

In order to pay for the $3.5 Trillion infrastructure bill progressive Democrats hope to pass, the House Ways and Means Committee has proposed a number of changes to income taxes, retirement savings, and estate planning. Read here to see how you might be affected.

In order to pay for the $3.5 Trillion infrastructure bill progressive Democrats hope to pass, the House Ways and Means Committee has proposed a number of changes to income taxes, retirement savings, and estate planning. Read here to see how you might be affected.

08/04/2021

Does your college-bound child have a Medical Durable Power of Attorney executed? When your teenage child goes off to college, they’re taking a major step towards personal and financial independence. Nevertheless, most parents of college graduates can attest that their children didn’t learn “how to adult” overnight. While your child may still look to you for help in managing their affairs, however, the law nevertheless treats them as a fully independent adult in most matters, entitled to full privacy rights. As such, a parent whose child suffers a medical emergency may find themselves unable to get information about their child’s condition or make decisions on their behalf if they are incapacitated.

Parents and their college-bound children may therefore be well served by some advanced planning, particularly executing documents such as medical or financial powers of attorney, HIPAA waivers, and FERPA waivers. In the interest of giving a little piece of mind during the next big step in your child’s life, we at the Hood Law Group are happy to offer a substantial discount for executing these documents on behalf of your college-bound student.

05/01/2021

If there is one thing that you need to remember at this point in your life, it is to always stand up for what is right. Do not be afraid to fight for your rights, especially when you are fully aware when another person or entity has caused you harm. Remember that the law exists to protect wronged individuals. Talk to a lawyer to know your options.

04/24/2021

As a managing member of The Hood Law Group, Matt Hood is the go-to general counsel for small to mid-size business owners in a variety of areas.

What particularly sets Matt apart is his extensive background in the corporate arena, as he’s previously worked with sales, marketing, IT, legal, finance, and accounting departments.

Having managed products that crossed all lines of business, he has a good working knowledge of how all departments interact to be successful and can readily apply this knowledge in his legal practice.

04/24/2021

President Joe Biden called his nearly $2 trillion COVID relief plan an urgent priority as the Senate was aiming for a vote on the sweeping measure as soon as this evening or Saturday morning — but was slowed down by a disagreement over unemployment.

“Today’s jobs report shows that the American Rescue Plan is urgently needed,” Biden told reporters as he received a briefing on the economy from Treasury Secretary Janet Yellen at the White House.

President Joe Biden on Friday called his nearly $2 trillion COVID relief plan an urgent priority as the Senate was aiming for a vote on the sweeping measure...

04/24/2021

The probate process may be confusing and tedious, but the law is very exact. There are three instances where you may need the assistance of a lawyer regarding a probate process, such as:

A close relative passes away, and it is necessary to probate the deceased person’s will.
A close relative dies without a will, and it is essential to open up a probate estate and pay the debts and pass any titles and remaining assets to the heirs.
There could be another beneficiary, such as a charity or other non-family member mentioned in the will, and you are facing a dispute over the distribution of assets.

If you are looking for an attorney to steer you through the probate process, do not hesitate to send us a message today.