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Showing 54 posts in Corporate and Business Tax.

The Fiduciary Rule is Here: Lenders, Get Ready!

Posted In Corporate and Business Tax, ERISA

Lenders, it’s time to embrace a new definition of “fiduciary.” In 2016, the U.S. Department of Labor (“DOL”) released the final Fiduciary Rule to expand the definition of “fiduciary” for purposes of the Employee Retirement Income Security Act (“ERISA”) and the Internal Revenue Code. The rule was delayed by the Trump administration, and following review of nearly 200,000 comments, the DOL designated June 9, 2017, as the official start date of the new rule for the financial services industry. Lenders everywhere must be ready to comply. More >

Small Business Law Every Business Owner Needs to Know

Posted In Corporate and Business Tax, Employment Law

Small businesses have a tremendous impact on the U.S. economy, providing 55% of all jobs and 54% of all U.S. sales, according to the Small Business Administration. With such an impact, it’s easy to think that these businesses are subject to less regulation and legal hurdles. Instead, the reality is that small businesses are subject to the same complex tangle of regulation that other businesses face for the most part, but they are often less-equipped to negotiate it. With that in mind, here are four types of laws that small business owners must consider during operation of their businesses. More >

Nothing is uncertain like death taxes

Posted In Corporate and Business Tax

There's a saying about death and taxes, the certainty thereof, which has been oft repeated to the point of weariness. While it is true that the imposition of taxes is a certainty, the shape and form of such taxes, especially in an estate planning context, is anything but. Just when one believes the ground to be firm in any particular tax context, the sands begin shifting. The federal estate tax has been just such an example the past several years, and estate plans should account for future uncertainty. More >

Tax evasion vs. tax planning/avoidance: knowing the difference is important

Posted In Corporate and Business Tax

Last time, we began speaking about recent recommendations made by an international organization regarding tax avoidance which will reportedly make it harder for businesses to take advantage of tax law. As we noted, the recommendations raise the important question of the distinction between tax avoidance and tax planning. More >

International organization addresses issue of tax avoidance

Posted In Corporate and Business Tax

At the beginning of the week, the Organization for Economic Cooperation and Development—an international organization founded to advise industrial nations on economic policy—proposed a plan to address what has become an important international issue: tax avoidance. The OECD, in response to a request to look at the tax rules international companies use to navigate tax planning, came up with recommendations which are supposed to address concerns about tax avoidance.  More >

Work with experienced attorney to navigate tax issues with stock sales

Posted In Corporate and Business Tax

In our last post, we began speaking about the recent Tesla Motors stock sale announcement. As we noted, the company is hoping that the move will help expand its business presence, a task that has been somewhat challenging. More >

Managing tax liabilities: work an experienced legal counsel

Posted In Corporate and Business Tax

For businesses, managing tax liabilities is an important ongoing task and businesses often go to great lengths to situate themselves so as to minimize their tax obligations. One of the challenges in tax planning, though, is that it isn’t always clear when a company may be doing the correct thing from a legal standpoint, or exactly what options a business has with respect to managing tax liabilities. Tax law, as is well known, is not always clear cut. More >

Congratulations on the Birth of Your New Tax Exemption! (Tax Breaks for New Parents)

Posted In Corporate and Business Tax

Planning for a new baby is a constant stream of decisions and questions concerning diapers, cribs, colors, daycare and more, all in the service of preparing your life for a new bundle of joy. What new parents forget in the hustle and bustle of bringing a new life into the world is that the state and federal revenue services both have a little joy of their own to add to the equation in the form of tax breaks. More >

Changes Ahead for Kentucky's Nonprofits and Other Business Entities

Posted In Corporate and Business Tax

Gov. Beshear signed House Bill 440 into law on April 1st, with the provisions of the new law becoming effective on June 24th. This new law adopts provisions modeled on the Revised Uniform Unincorporated Nonprofit Associations Act and makes several changes to Kentucky's business entities laws, particularly in the area of nonprofit companies. Overall, the law should strengthen opportunities for non-profits association and businesses to operate in the Commonwealth, and this post will briefly discuss some of the highlights. More >

Midyear Tax Planning

Posted In Corporate and Business Tax

As we approach the middle of the year, this is the perfect time to consider tax planning for your business and whether you need to make any changes to your current tax strategies. More >

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