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Supreme Court Defers to State Law on Ownership of Tax Refund Image

Supreme Court Defers to State Law on Ownership of Tax Refund

Michael L. Cook

High Court Rejects Application of Bob Roberts Rule Federal courts should "turn to state law to resolve" a "fight over a tax refund," held a unanimous U.S. Supreme Court in Rodriquez v. FDIC (In re United W Bancorp., Inc.)

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Deciphering the Tax Status of Leased Property Image

Deciphering the Tax Status of Leased Property

Janice G. Inman

Is a property leased to a farming tenant a commercial property or an agricultural property? What about a building leased to a government entity? The distinction can make a difference in the tax laws that apply to the parcel.

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Basic Tax Issues for Social Media Influencers Image

Basic Tax Issues for Social Media Influencers

Robert M. Jason

This article provides a general introduction to social media influencers and discusses common tax issues arising on the income side of the equation. What is taxable income? What happens if the influencer's compensation is paid in equity?

Features

IRS Issues New Plan 457(f) Non-Profit Exam Guidelines Image

IRS Issues New Plan 457(f) Non-Profit Exam Guidelines

Lawrence L. Bell

Planning for executive benefits for top hat employees at non-profit organizations has undergone a frenzy of regulatory roadmap changes. Nonprofit NonQualified Benefits are largely directed and controlled by IRC §457.

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Key Tax and Financial Considerations for New Law Partners Image

Key Tax and Financial Considerations for New Law Partners

John Fitzgerald & Christopher Imperiale

Being asked to join the partnership of a firm is a measure of success as a legal professional. With that achievement comes tax and financial responsibilities that, surprisingly, few attorneys are fully prepared to deal with. These responsibilities include the unexpected individual federal and state and local tax filing and payments.

Features

Work Opportunity Tax Credit and On-Boarding Image

Work Opportunity Tax Credit and On-Boarding

Lawrence L. Bell

With the cost of doing business consistently on the rise combined with the increasing difficulty to find/retain great employees, there is no better time to pursue employment-based tax credits. There are both federal and state employment-based credits available that can help businesses offset income tax liability.

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Athletic Coaches and the Tax Act Image

Athletic Coaches and the Tax Act

Lawrence L. Bell

When the Tax Cut and Jobs Act became law in December of 2017 there was a question whether some of the highest salaried employees at non-profit organizations would be exempt from the $1M remuneration tax. In the majority of states, the highest salaried employees are athletic coaches.

Features

Valuation Implications of the Tax Cuts and Jobs Act of 2017 Image

Valuation Implications of the Tax Cuts and Jobs Act of 2017

Ronald L. Seigneur

This article focuses on the impact of tax reform on C corporations and looks at the significant and complex changes to pass through entities.

Features

Inside the New Tax Plan's Changes to Carried Interest Image

Inside the New Tax Plan's Changes to Carried Interest

Kelsi Maree Borland

Phil Jelsma, a partner and chair of the tax practice team at a San Diego-based commercial real estate law firm talks about the changes to carried interest, how this will impact commercial real estate investment and what investors should do now to comply.

Features

New Development Projects: The Reports of Demise Were Greatly Exaggerated Image

New Development Projects: The Reports of Demise Were Greatly Exaggerated

Michael R. Leighton

Numerous shopping center developers use a “layer-cake” of financing, including state and federal tax incentives to reduce the costs of debt and equity financing. The industry correctly saw that the market value of the credits would drop once the Jobs Act become effective. Such tax cut could undoubtedly impact the ability of developers to raise equity, certainly for new projects not yet placed in service.

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