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Showing 8 posts from September 2014.

Planning for successful mergers and acquisitions requires expert guidance

Mergers and acquisitions can be an important part of an overall business growth strategy, and this fact is nowhere better seen than in the deals struck by major corporations. Of course, close examination of these major business deals can also reveal the fact that not all mergers and acquisitions are successful. In some cases, these deals just don’t benefit the acquiring company as expected, whether in the long-term or short-term. More >

Location, Location, Location

Posted In Uncategorized

You might think those three words - "Location, location, location!" - are uttered more by realtors than estate planning attorneys, but I beg to differ. Of course, when I repeat the phrase to clients I am not talking about the site of new home or office, but rather the location of individuals' most important planning documents. More >

Are iWills The Way of the Future?

Smartphones sure make lives a lot easier (and, arguably, busier). With a few taps of a screen, individuals can do everything from checking the weather to buying stock to engaging in FaceTime across the world. One individual in Australia recently came up with another innovative use for his smartphone. He used it to prepare his Last Will and Testament shortly before taking his own life. More >

Public invited to offer comments on exactly what constitutes closely held corporation

Readers may remember that the Supreme Court decided a case back in June that closely held corporations were exempt from providing contraceptive coverage to their employees under the Affordable Care Act. As commentators have pointed out, the decision left undecided exactly what closely held corporations are. More >

Kentucky DOR now required to release redacted letter rulings upon request

Letter rulings are written decisions issued by the Internal Revenue Service in connection with a taxpayer’s request for clarity on a particular tax issue. Because letter rulings are private, they bind only the taxpayer who makes the request. In other words, other taxpayers cannot rely on letter rulings for their own situation. The IRS is, however, able to redact the personal information from these rulings and classifying them as revenue rulings, which make the decision binding on all taxpayers and the IRS. More >

California Supreme Court and NLRB Reach Conflicting Decisions Involving Fast Food Giants

On August 28, 2014, the Supreme Court of California, in Patterson v. Domino's Pizza, LLC, held that a franchisor becomes potentially liable for the actions of a franchisee's employees only if the franchisor, "has retained or assumed a general right of control over factors such as hiring, direction, supervision, discipline, discharge, and relevant day-to-day aspects of the workplace behavior of the franchisee's employees." This is in stark contrast to the National Labor Relations Board's General Counsel decision to hold McDonald's franchisors liable for the alleged unfair labor practices of their franchisees. That action is explained in detail here. More >

Many Taxpayers Worry About the Estate Tax, But Few Plan Accordingly

Estate taxes often garner a lot of attention - particularly in an election year when the threat of raising taxes routinely becomes a political focal point. The estate tax, 40% at the federal level,[1] aptly referred to as the "death tax," does have the potential to be quite devastating. However, it is important to put the estate tax in the proper context. Instead of worrying about how much the Government will take from taxpayers' estates when they die, taxpayers should focus on what they can do now to protect their assets. More >

Burger King accused of trying to dodge taxes by moving tax base to Canada

In our last post, we spoke about Burger King’s recent decision to acquire Canadian coffee and doughnut franchise Tim Hortons. As we noted, some Canadians have expressed concern that the acquisition will mar the character of the beloved Canadian chain. Another issue that has come up in connection with the acquisition is Burger King’s decision to change its tax base from the United States to Canada. The switch should allow the burger chain to reduce its U.S. tax obligations. More >

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