The destruction caused by Hurricanes Harvey, Irma, and Maria and the wildfires in California have led to an outpouring of charitable gifts and donations. For businesses whose employees were affected by disasters, there is a way to provide relief through an employer-sponsored public charity or private foundation. Employer-sponsored organizations com...
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Beginning in 2018, the rules for auditing partnership income tax returns will change dramatically. The most significant change is that tax deficiencies determined in a partnership audit may be collected from the partnership itself, unless the partnership elects to “push out” the deficiency to its partners. Partnerships and multiple-memb...
The right of publicity allows an individual to control the commercial use of his or her name, image, and other aspects of his or her identity. While this issue has never received much attention in the estate and gift tax world, it recently became notable because of Michael Jackson and the tax case concerning his estate. The concept of putting prote...
The IRS announced increases to the annual gift tax exclusion, and the U.S. estate tax, gift tax, and generation-skipping transfer tax exemptions for 2018. The increases provide high net worth families favorable opportunities for tax-efficient transfers of wealth to their children and other descendants. In addition, the annual gifting can be a simpl...
Mentorships are valuable relationships at any age or walk of life. As you begin your career, you may wonder what mentorships are, how they work and where you should look to find a mentor. Mentorships shouldn’t be shrouded in mystery, but there isn’t one accepted guidebook for them either. There are, however, several keys to remember to ...
As a special type of equity-based compensation used by limited liability companies profits interests can bring a range of benefits to shareholders. Profits interests can help attract, retain, and reward key employees, and offer an opportunity to share in future earnings, increases in equity value, or proceeds from a sale of the company. When used s...
Due diligence often focuses heavily on financial and operational issues. Often the new or combined organization’s cybersecurity does not receive the attention it deserves. As a result it places the company at risk from a cyber incident, which can detrimentally impact the organization’s reputation and financial security. The risk is high...
Portfolio companies of private equity and venture capital funds often provide equity-based compensation to employees. Certain forms of equity compensation, such as stock options, profits interests, or appreciation rights, are directly tied to changes in equity value. When it comes to valuation of equity compensation in privately-owned companies, th...
U.S. House and Senate Republicans have reached a deal on tax reform plans, paving the way for passage of tax reform by Christmas. The tax reform plan is certain to make profound changes to the tax code that will affect all U.S. taxpayers. This article describes some of the key provisions of the House and Senate bills that are likely to be included ...
The Tax Cuts and Jobs Act (“TCJA”) is currently proceeding through Congress. The House and Senate recently passed different versions of the legislation, and a conference committee has been working to reconcile them. While additional steps must be completed after a final bill emerges from the conference committee there is a strong likeli...
Financial planning is essential to helping secure the future of you and your loved ones, yet it is easy to delay tackling it. Creating a customized financial plan helps define your individual investment goals, identify potential obstacles and allows you to adjust strategies as circumstances change. This article addresses the commonly asked question...
Most people prefer to age in place. If you have a beautiful and gracious home that you love, why leave it? Yet common features in many homes—steeps stairs, “classic” plumbing fixtures, even hardwood floors—can actually make life less comfortable, or sometimes even dangerous, as you get older. Fortunately, there are many...
The Tax Cuts and Jobs Act is the largest tax overhaul since the Tax Reform Act of 1986, and there are numerous and significant changes. The changes generally go into effect for tax years beginning after December 31, 2017, and most changes affecting individuals sunset on December 31, 2025. Lawmakers have promised to extend the provisions before the ...
For a majority of impact investors, impact investing means seeking a general or specific environmental, social, or governance outcome, in addition to a financial return, from their investments. Through a collection of articles on impact investing—including how The Russell Family Foundation has charted a course to impact investing—famili...
Although the recent high-profile cases of sexual misconduct make for sensational news stories, how this issue directly affects employers often gets lost in the media chatter. Under current law, employers can be held vicariously liable (i.e. legally responsible) for the harassment of their employees by a supervisor, co-worker or even a vendor or cli...