Corporate Taxation

  • Interest Rates and Planning: What You Need to Know

    By:
    Blanche Lark Christerson, JD, LLM (taxation)
    |
    Oct 1, 2020

    Interest rates are at historic lows. This is good news for certain planning techniques and bad news for others.   

    Specifically, low interest rates work extremely well if an estate “freeze” technique involves an annuity or a loan and work poorly if a freeze technique involves income and reversionary interests. In other words, low interest rates make this a good time for grantor retained annuity trusts (GRATs), sales to “defective” grantor trusts (Sales) and charitable lead annuity trusts (CLATs), but a bad time for qualified personal residence trusts (QPRTs) and charitable remainder annuity trusts (CRATs).
  • Tax Exemption: What Nonprofit Executives, Board Members, and Auditors Need to Know (Part 2 of 2)

    By:
    Allen L. Fetterman, CPA, MBA
    |
    May 1, 2020
    Published in the April issue of TaxStringer, part 1 of this series provided a beginning overview of the basics of tax exemption. This article will continue that discussion, focusing especially on tax exemption with respect to jeopardizing tax-exempt status, lobbying, the Form 990 series, and state laws.
  • Tax Exemption: What Nonprofit Executives, Board Members, and Auditors Need to Know (Part 1 of 2)

    By:
    Allen L. Fetterman, CPA, MBA
    |
    Apr 1, 2020

    Many nonprofit executives, board members, and their auditors are familiar with Form 990—some auditors might even prepare it. Yet many of these professionals don’t know enough about what needs to be done to obtain and maintain tax-exempt status, and they’re not aware of actions that could jeopardize that status. For that reason, this discussion provides a beginning overview of the basics of tax exemption—and will be continued in an upcoming article in next month’s TaxStringer.

  • The Wayfair Decision and its Effect on Income Tax Nexus

    By:
    Brian Gordon, CPA
    |
    Jan 1, 2019
    Nexus is a connection to a state or taxing jurisdiction that is sufficient for a business to be subject to their tax laws. The U.S. Constitution does not define nexus, but gives guidance under two separate clauses. The Due Process clause states that more than a minimal connection is required. 
  • Practical Sales Tax Considerations for Vendors in the Wake of Wayfair (Part I)

    By:
    Mark S. Klein and Joseph N. Endres, JD
    |
    Jan 1, 2019
    By now we’re sure you have all heard about the U.S. Supreme Court case South Dakota v. Wayfair, Inc. This case reversed over 50 years of precedent and completely changed the way states can administer their sales tax laws with respect to out-of-state vendors. 
  • Opportunities and Pitfalls of Advanced Life Insurance Planning Techniques

    By:
    Matthew E. Rappaport, Esq., LLM and Edward W. Gordon
    |
    Dec 1, 2018

    Life insurance seems simple on the surface, but is probably the most complicated financial product available on the retail market. Since licensing standards are not rigorous and do not require prior education or apprenticeship, and since training typically covers only the introductory topics necessary to make a sale, most life insurance professionals do not know the intricate details of how life insurance products work.

  • New U.S. Tax Law and the IRC Section 962 Election

    By:
    Charles Ladas, CPA
    |
    Sep 1, 2018
    With the ratification of the Tax Cuts and Jobs Act (TCJA), many U.S. taxpayers are reconsidering their business structures. The reason for this is that the tax provisions of the TCJA contain greater benefits for domestic corporations than other business entities and individuals. 
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