Latest Articles

  • A Forensic Guide to Finding Cryptocurrency in Divorce Litigation

    By:
    Mark DiMichael, CPA, CFF, ABV, CFE and Katerina Gaebel, CPA
    |
    Sep 1, 2018
    In recent years, awareness and use of Bitcoin and cryptocurrency has risen dramatically. Cryptocurrency transactions are fast, global, decentralized, secure, and irreversible. Although cryptocurrency and blockchain technology have the ability to revolutionize commerce, cryptocurrency’s anonymous nature has made it a haven for illicit activity.  This is because while cryptocurrency transactions are all publicly viewable on a “blockchain,” the individual participants of each transaction cannot be easily determined. 
  • Dear Mom and Dad: Would You Mind if I Gifted You My Low-Cost Basis Assets?

    By:
    Anthony J. Enea, Esq.
    |
    Sep 1, 2018
    When one thinks of a gift of significant assets, it is most often one from a parent or grandparent to their children or grandchildren. This is often done to allow the older generation to reduce the size of their estate for federal or New York tax purposes or for elder law and asset protection planning purposes. 
  • When Opportunity Knocks to Defer Tax on Gains: “Qualified Opportunity Funds"

    By:
    Kevin Matz, Esq., CPA, LLM (taxation)
    |
    Aug 1, 2018
    The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision that is intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.
  • A Tale of Three Freezes

    By:
    N. Todd Angkatavanich, JD, LLM (taxation) and Jonathan A. Mayer, CPA
    |
    Aug 1, 2018
    As a general proposition, all estate freeze transactions share some common characteristics. These transactions generally involve a senior generation family member (sometimes referred to as "Senior Family Member") making some form of a transfer of an asset and receiving back some form of cash-flow interest (e.g., a promissory note, a fixed annuity interest, or a preferred payment). 
  • U.S. Taxation of U.S. LLCs: Concerns About ‘Hybrid’ Tax Planning

    By:
    Michael Galligan
    |
    Aug 1, 2018
    An important concern in dealing with the tax treatment of U.S. LLCs in non-U.S. tax jurisdictions is the extent to which their treatment as “hybrid entities” will cause them to run afoul of a growing campaign against tax planning seeking to take advantage of the inconsistent treatment by different countries and jurisdictions of major types of income and tax offsets. 
  • Does Cybersecurity Apply to Me?

    By:
    Steven S. Rubin, JD
    |
    Aug 1, 2018

    Have you heard of cybersecurity? In this digital age, a malicious actor does not need to walk through your doors to steal from you. They can simply click a button. These malicious actors are educated, intelligent, and motivated. While companies strive to establish the impossible perfect defense, a hacker needs to get into their systems only once.

  • Post-TCJA Considerations for Exempt Organizations

    By:
    Catherine Petercsak, CPA, and Kerri N. Bogda, CPA
    |
    Jul 1, 2018

    On Dec. 22, 2017, President Donald Trump signed the Tax Cut and Jobs Act (the Act) into law. The Act is the most comprehensive change to the U.S. tax code since 1986. In some way, the new rules affect almost every individual, business, and tax-exempt entity. Most of the provisions of the Act are effective for tax years beginning after Dec. 31, 2017.

  • Accountants and Divorce Attorneys: A Marriage Made in Congress

    By:
    Joseph A. DeMarco, JD
    |
    Jul 1, 2018
    As divorce attorneys seek to navigate the impact of the Tax Cuts and Jobs Act (“TCJA”) on divorce cases, one thing appears clear: Effective advocacy for matrimonial clients will require greater reliance on accounting professionals. 
  • U.S. Taxation of U.S. LLCs: Major Considerations in the International Context

    By:
    Michael W. Galligan
    |
    Jul 1, 2018
    Many countries make a strict distinction between corporations and partnerships for tax purposes and do not have a “check-the-box” election or, if they do, it does not necessarily follow the U.S. scheme. 
  • Both Sides Now: The Increasing Importance of Focusing on Both Sides of Competence for Families and Family Owned Enterprises

    By:
    Patricia Annino, Esq., JD, LLM (taxation)
    |
    Jul 1, 2018

    We are in a global societal phase change and are living in a non-linear world. All of us know someone who is one year old, and most of us know individuals who are older than 100. Many generations now coexist—entwining families emotionally, intellectually, physically, and financially in unprecedented ways. Accountants have never been in the position of planning for and impacting so many generations at once.

Tax Quote
 

“The problem is not that the people are taxed too little. The problem is that government spends too much.” 

– Ronald Reagan

*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

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