Topic
Tax Implications
36 published works
From the Ground Up
COVID-19: Modifications to Loans May Have Unintended Tax Consequences
As we previously discussed, on March 22, 2020, federal banking regulators published the Interagency Guidance ("the Guidance") to encourage lenders to, among other things, enter into short-term loan modifications (if…
Wills, Trusts & Estates Prof Blog
Article on The Tax Consequences of a Haunted House
Charles Edward Andrew Lincoln IV recently published an Article entitled, The Tax Consequences of a Haunted House, Tax Law: Tax Law & Policy eJournal (2018). Provided below is an abstract…
Tax Law for the Closely Held Business
When Tax Truths Collide: “Disappearing” Basis?
By Lou Vlahos
How many times have you said to a client, “Please don’t agree to any deal terms until we’ve had a chance to discuss your goals and plans, consider your options,…
Blaneys Appeals
COURT OF APPEAL SUMMARIES (OCTOBER 31- NOVEMBER 4, 2016)
Good afternoon, Here are this week's Court of Appeal Summaries. Civil topics covered included MVA, SABs, family law, vexatious litigants, employment law, simplified procedure and another chapter in the Indian…
Virgin Islands Law Blog
C Corps and S Corps Have Different Tax Implications
Whenever a new business is founded, the entrepreneur must decide what type of company it will operate us. Two of the most common choices are C Corps and S Corps—each…
GT Israel Law Blog
Incentive Stock Options vs. Nonqualified Stock Options – A General Summary
Introduction When reviewing U.S. stock option plans for our foreign clients, we are constantly asked to explain the difference in tax consequences between incentive stock option (ISO) plans and nonqualified…
Tax Law for the Closely Held Business
As You Make Your Bed, So You Must Lie In It
By Lou Vlahos
There is nothing like an old proverb to remind you of the obvious. Unfortunately, too many taxpayers need to be reminded all too often. It’s one thing when the reminder…
Wills, Trusts & Estates Prof Blog
Florida Financial Advisor Liable For Failure To State Tax Implications
In Florida, a financial advisor, and his firm LPL Financial, have been hit with a $53,000 judgement by an arbitrator following a failure to inform the client about serious tax…
Compensation & Benefits Blog
Righting a Wrong: The “Claim of Right” Doctrine and Other Tax Considerations for the Repayment of Pension Plan Overpayments
By Justin Alex
Pension plan overpayments to participants and their beneficiaries are an all-too-common occurrence. When overpayments occur, a plan administrator’s duties are fairly clear. Typically, the plan administrator must seek repayment of…
Tax Law for the Closely Held Business
Loan? Oh That!
By Lou Vlahos
Over nearly three decades, I have reviewed the income tax returns of many closely held corporations and partnerships. Quite often, on Schedule L (the Balance Sheet), I will see…