New Jersey and Denmark Meet Perth I shared a flat with a secondee from Denmark (Vy). Our stay in Perth has allowed us to explore some of the many sites of Perth. Here are a few we enjoyed: King’s Park – one of the nicest/cleanest parks we have seen. Stop here for a beautiful view…
A Big Capital Gain That Can Go Untaxed By: Eliot Goldberg, CPA, Principal – WithumSmith+Brown, PC Congress passed the 2015 PATH Act on December 18, 2015 in which it made certain tax provisions permanent. Generally, those provisions had repeatedly been extended for one or two years, frequently on a retroactive basis. One such provision made…
“Founders and venture capital investors may qualify to exclude 100% of the gain from the sale of the stock in their startup company” The recently enacted 2015 PATH Act included a number of tax provisions beneficial to startup companies. Among the new legislation is a permanent extension to exclude 100% of gains from the sale…
EB-5 Program – “Immigrant Investor” Program What is the EB-5 Program? EB-5 is a program enacted in 1990 that gives foreign investors the opportunity to qualify for a Green Card with a $500,000 investment in a “Regional Center” Project. Immigrant investors who acquire a Green Card would then be granted US residency. A “Regional Center”…
Non-Voting Shares – An Elegant Solution Clark Griswold, Sr.: “It’s a beaut, Clark; it’s a beaut” – dialogue from Christmas Vacation I am often confronted with a somewhat difficult ownership issue that can usually be addressed by what is a relatively straightforward solution; namely the proper use of non-voting shares in a succession plan. I…
U.S. Announces Third Set of Measures Geared at Expanding Cuba Commerce During June of 2015, David Springsteen, Partner and Practice Leader of Withum’s National Tax Services Group, Kimberlee Phelan, Partner and Practice Leader of Withum’s International Services Group and myself, Richard Ingunza, an accountant in Withum’s National and International Tax Services Group in New York,…
Share Over the last few years, several states have enacted laws which allow captives to be domiciled in their state. New Jersey is one of the many states that has recently implemented a department that allows captives to be formed and governed in the state. Captive governance is new in the U.S., as Captive laws…
Are You Solving a Real Problem? “I gotta’ fever and the only prescription is more cowbell” – “The Bruce Dickinson” – from the SNL skit with Christopher Walken Many of the startups I meet have gotten the message that in order to have a sustainable business model, one has to solve a problem. That solution…
The following Q&A will prove helpful in better understanding significant aspects of blackout periods for defined contribution retirement plans. For a more in-depth understanding of the DOL’s final rule issued in 2003, related to blackout periods, plan sponsors and interested parties should consult with qualified ERISA legal counsel. Question Response 1. What is a blackout…