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Foster Garvey PC

One Big Beautiful Bill Act, H.R. 1 – 119th Congress (2025-2026): Part V – Qualified Small Business Stock Exclusion / Code Section...

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In this fifth installment of my multi-part series on the One Big Beautiful Bill Act, Steve Nofziger and I discuss a provision of the Act that impacts certain business owners who are contemplating a sale of their shares, Code...more

Husch Blackwell LLP

Missouri Eliminates Tax on Capital Gains

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On July 10, 2025, Missouri Governor Mike Kehoe signed House Bill 594 into law, amending RSMo. § 143.121 to exempt capital gains from its existing state income tax. For tax years beginning on or after January 1, 2025, income...more

Paul Hastings LLP

Qualified Small Business Stock Tax Benefits Expanded for Early-Stage Companies and Investors

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The recently signed One Big Beautiful Bill Act (OBBBA) implements significant changes under Section 1202 of the Internal Revenue Code of 1986 (Code), applicable to qualified small business stock (QSBS) issued on or after July...more

Bodman

One Big Beautiful Bill Act Reinforces and Enhances Qualified Small Business Stock Tax Savings – A Benefit for Prospective Startup...

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The One Big Beautiful Bill Act (H.R. 1, 119th Cong § 70431 (2025)) (“Act”) was signed into law by President Trump on July 4, 2025, after narrowly passing the House on July 3, 2025....more

Ruder Ware

One Big Beautiful Bill Act: Stay Tuned for Our Client Alert Series

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As you may be aware, on July 4, 2025, a landmark piece of tax legislation – commonly referred to as “One Big Beautiful Bill Act” – was signed into law, ushering in some of the most significant changes to the tax code in...more

International Lawyers Network

Establishing a Business Entity in Mexico (Updated)

I. General Overview - As of April 2024, Mexico has a population of approximately 132.3 according million people to the Mexican National Population Counsil (Consejo Nacional de Población). Covers a land area of 1,964,375...more

Offit Kurman

Equal Shares, Unequal Outcomes: Estate Planning Strategies for Parents and their Qualified Retirement Accounts

Offit Kurman on

Typically, a parent wishes to treat their children equally in their estate plan and presumes they will achieve this goal by dividing all their assets into equal shares upon their death. Accordingly, they will designate their...more

Bowditch & Dewey

2024 Year-End Charitable Giving and IRA Qualified Charitable Distributions

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As the 2024 tax year comes to a close, owners of individual retirement accounts (IRAs) might consider combining the tax benefits of charitable giving with a qualified charitable distribution (QCD) from their IRA....more

Cadwalader, Wickersham & Taft LLP

IRS Aims to End Abusive Basis-Shifting Transactions

The IRS has issued new guidance to prevent related parties from using partnerships to achieve tax benefits through basis-shifting among assets. The IRS recently released a guidance package aimed at preventing...more

International Lawyers Network

Establishing a Business Entity in Mexico (Updated)

I. General Overview - As of 2020, Mexico has a population of 126,014,024 according to the Mexican National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía). Covers a land area of...more

Bowditch & Dewey

Year-End Charitable Giving and IRA Qualified Charitable Distributions

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As the 2023 tax year winds down, owners of individual retirement accounts (IRAs) might consider combining the 2023 tax benefits of charitable giving with a qualified charitable distribution (QCD) from their IRA....more

Rivkin Radler LLP

Activities Contrary to Public Policy – Revoking the Tax Exempt Status of Universities

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It appears that many of the country’s colleges and universities believe they have not already contributed enough to the decline of American education and to the erosion of our society, generally. These institutions of...more

Gray Reed

The IRS is Attacking Abusive Trust Arrangements

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Recent Government actions suggest that third-party promoters and potentially hundreds of taxpayers may be entering into abusive trust arrangements aimed at unlawfully eliminating or deferring federal income taxes....more

Gray Reed

IRS Takes Warning Shot at Section 643(b) Trust Arrangements

Gray Reed on

For some time, promoters have shopped around an arrangement known as a “section 643(b) trust,” known alternatively as a “non-grantor, irrevocable, complex, discretionary, spendthrift trust.”  On August 9, 2023, IRS Chief...more

International Lawyers Network

Establishing A Business Entity In Mexico (Updated)

I. General Overview - As of 2020, Mexico has a population of 126,014,024 according to the Mexican National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía). Covers a land area of...more

McDermott Will & Schulte

IRS to Update Schedule UTP to Require Additional Transparency

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On October 11, 2022, the Internal Revenue Service (IRS) announced draft changes to Schedule UTP, Uncertain Tax Position Return Statement, and Form 1120, Instructions for Schedule UTP, for the 2022 tax year (processing year...more

Rivkin Radler LLP

The Transaction That Failed – Tax Treatment of Termination Fees

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Deal Costs, Generally- Every purchase and sale of a business, whether from the perspective of the seller or the buyer, is about economics, and few items will impact the economics of the transaction more certainly or...more

International Lawyers Network

Establishing A Business Entity In Mexico (Updated)

I. General Overview - As of 2020, Mexico has a population of 126,014,024 according to the Mexican National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía). Covers a land area of...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Make Your Year-End Charitable Gifts to Take Advantage of Expanded Tax Benefits

Because of the hardships from the COVID-19 pandemic and several weather related events, the demand on charitable organizations has increased significantly this year, increasing the need for charitable giving. Tax benefits to...more

Bowditch & Dewey

Massachusetts Legislature Passes Legislation Enacting Work Around to Federal $10,000 SALT Deduction Limitation, but Governor Baker...

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On July 16, 2021, Governor Baker approved a $47.6 billion fiscal 2022 budget, but sent back a provision the Massachusetts Legislature passed creating a workaround for the federal cap on the state and local tax deduction. ...more

Freeman Law

[Webinar] Legal and Tax Update - July 28th, 2:00 pm CT

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Join us as we discuss important developments and bring you up to speed on current initiatives. Many businesses are still facing unprecedented challenges, and we are here to provide insights. During this information-filled...more

Gould + Ratner LLP

Pending Changes to Illinois Tax Laws Include SALT Workaround

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Illinois lawmakers have approved legislation that is both good news and bad news for Illinois taxpayers. The good news is that, if approved by Gov. Pritzker, Illinois taxpayers will be able to take advantage of a workaround...more

McDermott Will & Schulte

Weekly IRS Roundup May 17 – May 21, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 17, 2021 – May 21, 2021... May 17, 2021: The IRS issued Revenue Ruling 2021-9, providing...more

Buckingham, Doolittle & Burroughs, LLC

SALT Cap Workaround – Ohio provides PTE investors who elect workaround with income tax benefit.

Individuals are limited to deducting $10,000 ($5,000 for married filing separate) of state and local taxes (SALT) on their Federal income tax. Generally, income earned by pass-through entities (PTE) is taxed at the investor...more

International Lawyers Network

Establishing A Business Entity In Mexico

I. General Overview - As of 2015, Mexico has a population of 119,938,473 according to the Mexican National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía). Covers a land area of...more

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