Share Intent vs. interpretation. Concept vs. reality. Clauses vs. practices. The push-pull issues private equity firms encounter as they lay out the financial and tax structure for portfolio company acquisitions can dramatically affect risk and return as well as operational compliance post-close. While well-intentioned legal structuring may mitigate certain risks, their practical, day-to-day application can…
Share The SBA issued new forms and guidance in response to the enactment of the Consolidated Appropriations Act, 2021. We have discussed the guidance released around the program in detail here Further, the SBA announced it would be opening its application portal for a limited subset of borrowers during the week of January 11, 2021….
Share Download a PDF of this case study Learn how a social services nonprofit can better fulfill its mission by achieving seamless collaboration and document management with Microsoft Teams and Power Automate. Executive Summary A nonprofit organization based in Philadelphia was looking for a modern solution for project collaboration and communication. Replacing outdated file shares…
Share You rode the wallstreetbets wave and won. Well done! You are now the proud owner of a capital gain, that’s taxed at a favorable 15%, right? In many cases, yes; however, if you failed to hold Gamestop stock for more than 12 months (prior to selling), you don’t have a long-term capital gain; you…
With the recent events of the last week’s activity in the stock market, attention has grown around trading (buying and/or selling) certain stocks. Robinhood has been a popular platform used to execute these trades, though it began halting trades on January 28th. Other popular brokerage and investment platforms followed suite by halting trading of select…
Share According to data released by the Small Business Administration, the Am Law 200 Firms receiving PPP loans during 2020 aggregated $370 million, with the median loan being $8.2 million. While the average of the amount of law Firms taking PPP money came to about 4.8% of the average firm annual revenue, some of the…
A university has historically taken on the responsibility of educating, training, and housing its athletes. However, as rules change that will likely allow athletes to be compensated, the university is taking on the responsibility of guiding them on financial decisions that will impact them for the rest of their lives. In late 2019, the Fair…
Share On January 5, 2021 the Treasury Department released Final Regulations (TD 9943) (the “2021 Final Regulations”) with additional guidance on the business interest expense limitation under IRC 163(j) as it specifically relates to partnerships engaged in trade or business activity (trading partnerships). For background, in December of 2017, Section 163(j) was modified as part…
Share On November 19, 2020, the Treasury Department and the Internal Revenue Service submitted to the Office of the Federal Register a draft version of final regulations (TD 9933). The regulations provide guidance on identifying when exempt organizations have more than one unrelated trade or business and how to compute unrelated business taxable income (UBTI)…
Share 2020 was a year that brought a great many changes to how companies operate day-to-day. In addition, countless organizations found themselves applying for and receiving funding from new sources. This could result in an unexpected outcomein2021: new audit requirements. Assistance programs offering relief from the COVID-19 pandemicthrough the Coronavirus Aid, Relief and Economic Security…