Practical perspectives for contemporary legal challenges.
On the ballot in Arizona this November is Proposition 208 (the “Proposition”). Proponents assert it will benefit students in public schools. Critics warn it sends most of the increased income tax revenue it generates into the school bureaucracy, not to teachers, as it implies, and will dissuade some businesses and taxpayers from moving to or …
Continue reading “Arizona PROP 208 – Big Tax Increase Possible in Arizona”
Earlier this month, the U.S. Supreme Court denied a request to review the First Circuit Court of Appeals decision in the Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund case, thereby confirming the Appeals Court’s decision that the two separate Sun Capital private equity funds were not under common control with …
Continue reading “PE Funds Are Not Part of Controlled Group; What About Your Company?”
Your divorce has just been finalized. Now what? Depending on the assets divided, there may be a number of steps that you have to take to implement the terms of your divorce. While your attorney likely provided some guidance upon completion of the divorce, here are 12 steps to consider. Automobile and Homeowner Insurance Automobile …
Continue reading “A 12 Step Checklist of Post-Divorce Considerations”
One traditional estate planning technique that has become increasingly popular in recent months is the Grantor Retained Annuity Trust (GRAT). Simply stated, a GRAT is an irrevocable trust where the grantor contributes property to the GRAT and retains the right to receive a percentage of the assets back over a designated period of years; any …
Under the Paycheck Protection Program (“PPP”) established by the CARES Act, a borrower is eligible for forgiveness of all or a portion of the principal amount of a loan made in accordance with the PPP if certain conditions are satisfied (“qualifying forgiveness”). While the Internal Revenue Code generally requires a borrower to include the amount …
Continue reading “IRS Announces No Information Returns to be Filed for PPP Loan Forgiveness”