Earnouts are a form of contingent consideration that the buyer of a business pays to the seller in the period following the acquisition, based on the business achieving various financial metrics related to its performance...more
7/30/2025
/ Acquisitions ,
Business Valuations ,
Buyers ,
Buying a Business ,
Closely Held Businesses ,
Deferred Compensation ,
Earn-Outs ,
Internal Revenue Code (IRC) ,
IRS ,
Mergers ,
Purchase Price ,
Sellers ,
Selling a Business ,
Taxation ,
Third Party Funding
Divorce is a complex and emotionally charged process that also brings substantial financial considerations, with three of the most significant financial aspects of a divorce being alimony (spousal support), child support, and...more
12/19/2024
/ Alimony ,
Child Support ,
Divorce ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Property Division ,
Settlement ,
Settlement Negotiations ,
Spousal Support ,
Spouses ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Preparers ,
Tax-Free Transfers
When a business is sold, the most important overall aspect of negotiations between a cautious buyer and determined seller may be due to the agreed-upon purchase price for the business. However, when the buyer is purchasing...more
8/21/2024
/ Acquisitions ,
Asset Class ,
Business Assets ,
Buyers ,
Cost Allocation ,
Fair Market Value ,
Internal Revenue Code (IRC) ,
IRS ,
Negotiations ,
Purchase Agreement ,
Purchase Price ,
Real Estate Investments ,
Sellers ,
Selling a Business ,
Tax Planning
The Internal Revenue Service (“IRS,” or the “Service”) issued guidance on June 17, proposing new regulations and releasing a revenue ruling to challenge the use of basis-shifting transactions by complex partnerships. In...more
7/9/2024
/ Asset Management ,
Corporate Taxes ,
IRS ,
New Guidance ,
New Regulations ,
Notice of Proposed Rulemaking (NOPR) ,
NPRM ,
Partnerships ,
Pass-Through Entities ,
Popular ,
Proposed Regulation ,
Revenue Rulings ,
Tax Basis ,
Tax Reform ,
U.S. Treasury
In Soroban Capital Partners, LP v. Commissioner, the U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended (the “Code”) ...more
2/14/2024
/ Appeals ,
Business Entities ,
Commercial Litigation ,
Exclusions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
Partnerships ,
Self-Employment Tax ,
Tax Court ,
Tax Exemptions ,
Tax Planning
The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more
11/7/2023
/ Business Taxes ,
Eligibility ,
Employee Retention ,
Employer Liability Issues ,
Enforcement ,
Fraud ,
Income Taxes ,
IRS ,
Tax Audits ,
Tax Credits ,
Tax Preparers ,
Tax Reform ,
Tax Relief ,
Tax Returns
In IRS Notice 2023-71 (the “Notice”), the Internal Revenue Service (“IRS”) granted a postponement until October 7, 2024 for various time-sensitive filing and payment deadlines for taxpayers affected by the terrorist attacks...more
10/19/2023
/ Employment Tax ,
Estate Tax ,
Excise Tax ,
Filing Deadlines ,
Filing Requirements ,
Generation-Skipping Transfer ,
Gift Tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Israel ,
Relief Measures ,
Statute of Limitations ,
Tax Extensions ,
Tax Returns ,
Terrorist Acts ,
Time Extensions
Real estate developers have long had ample reasons to take on projects involving historic buildings, courtesy of Section 47 of the Internal Revenue Code of 1986. As amended, Section 47 (the “Code”) provides for a...more
9/5/2023
/ Eligibility ,
Historic Preservation ,
Historical Landmarks ,
Historical Rehabilitation ,
HTC ,
Internal Revenue Code (IRC) ,
Investment ,
Investors ,
IRS ,
Land Developers ,
Private Equity ,
Real Estate Development ,
Real Estate Market ,
State and Local Government ,
State Taxes ,
Tax Credits
The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more
8/8/2023
/ Business Tax Credits ,
Business Taxes ,
CARES Act ,
Coronavirus/COVID-19 ,
Criminal Investigations ,
Employee Retention ,
Employer Liability Issues ,
Enforcement Actions ,
Fraud and Abuse ,
Internal Revenue Code (IRC) ,
Investigations ,
IRS ,
Payroll Taxes ,
Popular ,
Relief Measures ,
Tax Credits ,
Tax Fraud ,
Tax Relief ,
Tax Returns ,
Tax Scams ,
Wages
Over the past three seasons, fans of the hit HBO series Succession have had an entrée into the fabulous lifestyles enjoyed by members of the Roy family and a front-row seat from which to observe the myriad succession...more
4/24/2023
/ Business Ownership ,
Business Plans ,
Business Strategies ,
Business Succession ,
Business Transfer Agreements ,
Business Valuations ,
Closely Held Businesses ,
Document Review ,
Estate Planning ,
Selling a Business ,
Succession Planning
So, you finally sat down to start your estate plan but have heard so many conflicting points about wills and trusts that you don’t know where to start. If you are choosing between a trust and a will, you’re not alone. One of...more
On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA” or the “Act”) into law. The IRA, which contains several energy-related tax credits and extends and modifies some existing credits in the...more
10/5/2022
/ Apprenticeships ,
Biden Administration ,
Energy Tax Incentives ,
Exceptions ,
Inflation Reduction Act (IRA) ,
Investment ,
Investment Tax Credits ,
Investors ,
Prevailing Wages ,
Renewable Energy ,
Renewable Energy Incentives ,
Solar Energy ,
Tax Credits