Transitioning Ownership The decisions made regarding ownership of the family office or closely held business may not necessarily be the same decisions that are required for leadership and management. It’s critical to understand and acknowledge the different elements that proper succession planning entails. The family wealth enterprise has three interconnected circles of participation—the family members, Read More…
The Qualified Opportunity Zone (QOZ) program was enacted as part of the 2017 federal Tax Cuts and Jobs Act (TCJA) and is designed to direct long-term capital investments into eligible property located in a Qualified Opportunity Zone. There are 8,762 designated QOZ’s located throughout the United States, of which 8,532 are in low-income community tracts Read More…
If you’re a sole proprietor, you have probably wondered at some point whether you’d be better off if you incorporated your business. Here are some facts for you to consider. The single biggest benefit of incorporating a business is limiting an owner’s liability. In theory, a stockholder in a corporation risks only his or her Read More…
Summary On Friday, December 22, President Trump signed sweeping tax reform (the “Act”) into law. The Act provides the most comprehensive update to the tax code since 1986 and includes a number of provisions of particular interest to partnerships and their partners. This alert addresses the Section 199A deduction for qualified business income of pass-through Read More…
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