Newsletters

08.09.24

Complying with the Corporate Transparency Act

Under the Corporate Transparency Act (CTA), as of January 2024 many corporations, limited liability companies, limited partnerships, and similar legal entities are now required to report ownership and management information to the U.S. Department of the Treasury.


12.01.23

Preparing for the Corporate Transparency Act

Beginning in January 2024, many small businesses and family investment companies will be required to report ownership and management information to the U.S. Department of the Treasury.


03.27.20

Bad Debts and Debt Cancellations

If you are currently a lender or other creditor to individuals or other organizations, and in the current environment there is a risk that your borrowers or other debtors may be unable to repay loans or other debts to you, for tax purposes the unpaid debts may be treated as business bad debt or ...


03.27.20

Qualified Improvement Property Deduction Technical Correction

The Tax Cuts and Jobs Act (TCJA) signed into law on December 22, 2017, was intended to accelerate the depreciation of “qualified improvement property” (QIP), which is generally defined as any improvement made to the interior portion of a nonresidential building any time after the ...


01.26.16

The Built-In Gains Tax

Many business owners are aware that, if a business is operated through a C corporation, the corporation pays tax on the profits and, when the profits are distributed to the shareholders in the form of dividends, the shareholders pay tax on the dividends.


05.07.14

Virtual Currency & IRS Reality

The Internal Revenue Service recently issued Notice 2014-21 to provide guidance for the tax treatment of virtual currency, such as Bitcoin.


12.04.13

1031 Exchanges: Exchanging Out of California? Do Keep In Touch

As we have noted previously, many property owners are aware that one can sell investment property and reinvest the sales proceeds in like-kind investment property without having to pay tax on the sale.


03.27.13

1031 Exchanges of Investment Property— Recent Cases

Many property owners are aware that one can sell investment property, at a profit, and reinvest the sales proceeds in replacement investment property, without having to pay tax on the sale. Such transactions are known as "tax-deferred exchanges" or "1031 exchanges" (1031 being ...


04.26.12

Family Limited Partnerships: Still a Useful Estate Planning Tool

In previous newsletters, we have discussed the benefits associated with family limited partnerships. (See Planning to Pass the Baton: Family Wealth Transfers, September 2011).


09.07.11

Planning to Pass the Baton: Family Wealth Transfers

If you have accumulated a substantial investment portfolio, or you own a successful business, there may come a time when you start planning to transfer ownership of the investments, or business, to younger generations of your family.