What is a Fiduciary?

A person who is responsible for the administration of property owned by others. Corporate management is a FIDUCIARY with respect to corporate ASSETS which are beneficially owned by the stockholders and CREDITORS. Similarly, a TRUSTEE is the fiduciary of a TRUST and partners owe fiduciary responsibility to each other and to their creditors.

Hobby Versus Business

Nine factors are looked at in distinguishing between a hobby and a business activity. They are: 1. How you execute the activity 2. Your level of expertise 3. How much time and effort you put into the activity 4. The amount of occasional profits, if any 5. Whether or not you think the assets used…

Tackle Kids Cancer

On June 2, 2016 RotenbergMeril came together as a team to Tackle Kids Cancer at the Meadowlands Racetrack in East Rutherford NJ.  We were one of about 30 teams who raised in the neighborhood of $15,000.00. As you can see by the photos a great time was had by all while contributing to a worthy cause.…

Federal Student Tax Scam

The IRS has issued a warning to taxpayers about bogus phone calls from people impersonating agency employees who demand payment for a non-existent tax that is referred to as the “Federal Student Tax.” (IR 2016-81) While the filing deadline has passed, scammers continue to use varied strategies to trick people, IRS said, adding that, in this…