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With coming New Year's resolutions, it is a good time for clients to consider self-reflection and near term goals. Legacy writing helps clients think about their values and responsibilities, and legacy-writing becomes a metaphor for self reflection.

In August 2018, the Treasury released proposed IRC Sec. 199A regulations to provide some needed clarity as to the application to certain taxpayers and underlying mechanics on the 20% pass-through deduction under the Internal Revenue Code.

Get the latest thoughts, concerns and predictions from a veritable who’s who of New Jersey business leaders at EisnerAmper’s highly influential annual NJ Business Summit. Topics include succession planning, valuations and the tight labor market.

IRS guidance on how qualified retirement plans must treat same-sex marriage and FAQs that address items such as beneficiary designations in profit-sharing plans. Qualified retirement plans are required to operate in compliance with Windsor.

Investments in foreign mutual funds are PFIC investments. U.S. taxpayers entering  IRS voluntary disclosure with respect to previously undisclosed or incorrectly disclosed foreign income or assets may be able to discharge potential back taxes, interest and penalties at a somewhat reduced rate. U.S. tax liabilities in connection with an investment in a PFIC.

Trust and estate planning opportunities. The 2012 Tax Act enacts the first permanent provisions in the estate tax law in 12 years. Estate and gift tax planners see tax law changes every year. Income tax planning plays a greater part of trust planning.

The 46th Annual Heckerling Institute on Estate Planning was held January 2012. The Heckerling Institute is one of the largest annual estate and trust planning conferences. Portability exists for gift tax as well as estate tax purposes, which means that DSUEA can be used for lifetime gifts. A QPRT is a trust to which one transfers a residence and retains the right to live there for a term of years. A surviving spouse who rolls over the IRA, takes a distribution from the IRA at age 49 he or she would pay a penalty.  

The 46th Annual Heckerling Institute on Estate Planning was held January 2012. The Institute is one of the largest annual estate and trust planning conferences. Under The 2010 Tax Act the estate tax exemption of $5 million and the estate tax top rate of 35 percent applied on an elective basis. The 2010 Tax Act amended IRC Sec. 2010(c) to permit a surviving spouse to use the unified credit amount of a predeceased spouse that the spouse did not use.

A Q&A with Beth Mueller, Co-Founder & COO, Socium Fund Services on her outlook for closed-end funds, fund administration consolidation, and inspirational women mentors in her life.

As the negative economic impacts of COVID-19 continue, perhaps surprisingly, venture capital activity—including mega deals and fundraising—remains robust.

This articles discusses asking lenders for a waiver to cure the violation(s), the review of the waiver, and classification of long-term debt when a company is in violation of its bank covenants at the balance sheet date and has received a waiver from its lender.

A review of the Financial Accounting Standards Board (“FASB”) staff Q&A that addresses the accounting for rent concessions related to the effects of the COVID-19 pandemic under ASC 842 and 840.

A conversation with Amir Shaked of Shaked Capital Advisors on the impact of COVID-19 on alternative investments and his belief in liquid long/short strategies that can pivot with the virus-related data and fundamentals.

A study by EisnerAmper’s Compensation Resources on the impact of COVID-19 relative to compensation levels and college graduate hiring.

This article features a discussion of some of the likely areas of IRS focus as it resumes normal enforcement procedures after July 15, 2020.

Distressed real estate debt may present investors with opportunities to buy loans at discounted prices, however, consultation with a professional is recommended due to the tax implications and other unintended consequences.

On June 9, 2020, the Commercial Observer hosted a virtual roundtable with Silverstein Properties—a privately owned, family-held, real estate development firm based in New York City—for an exclusive interview regarding the steps being taken to reopen their buildings, including the World Trade Center.

The CARES Act provides opportunities for taxpayers to claim refunds and more quickly address liquidity concerns – there are three critical deadlines approaching for filing claims.

Some estimates put potentially fictitious PPP loans at approximately $81.4 billion. This widespread fraud could have caused truly needy business when the PPP program ran out of funds in May 2021.

Phantom income syndrome is the concept that a person or business experiences cash income, net of expenses or taxes, and is not a reliable source of operating income.