When Is a Home Not a Home? (Matter of John Gaied) One of the most contested and closely followed cases by taxpayers and practitioners in the New York State (the “State”) residency arena was overturned. This case has taken a number of twists and turns as it wound its way through the New York State…
C vs LLC – A Non-Technical Analysis Colonel Sandurz – “Once we kidnap the princess, we can force her father, King Roland, to give us the combination to the air shield, thereby destroying Planet Druidia and saving Planet Spaceballs.” Dark Helmut (to the camera) – “Everybody got that?” One of the first questions I ask…
The Intersection of Asset Management and Captive Insurance The asset management industry and captive insurance would facially seem worlds apart. However, there is a potentially powerful intersection. At the management company level of most hedge funds, private equity funds and even mutual funds, you will often find a limited partnership that collects fee income on…
Canada and U.S. Sign IGA to Implement FATCA Kathy Sikora Tax Accountant WithumSmith+Brown Princeton, NJ The long-awaited agreement between Canada and the U.S. was made official on February 5, 2014. The signed intergovernmental agreement (IGA) will implement the Foreign Account Tax Compliance Act (FATCA). Canada has signed the IGA under the Model 1…
New York Nonprofit Revitalization Act On December 18, 2013 New York Governor, Andrew M. Cuomo, signed into law the, “Non-Profit Revitalization Act of 2013” (“Act”). The Act, which becomes effective on July 1, 2014, was released with the intent to enact changes to the State of New York nonprofit laws enhancing governance and reducing the…
Canada and U.S. Sign IGA to Implement FATCA The long-awaited agreement between Canada and the U.S. was made official on February 5, 2014. The signed intergovernmental agreement (IGA) will implement the Foreign Account Tax Compliance Act (FATCA). Canada has signed the IGA under the Model 1 approach, which requires foreign financial institutions (FFI’s) to report…
Equity Pointers for Employees of StartUps “Movin’ on up, To the east side. We finally got a piece of the pie.” The Jefferson’s Theme Song I just spent another week having another dozen discussions with entrepreneurs regarding equity splits. It is probably because I am a little slow to pick up but I realized that…
The Retail Version of Venture Capital The typical venture capital fund invests in small companies, with little or no profits, with a vision of selling the company for large multiples once it becomes profitable and/or its business scales up to size. As with all private funds, the venture cap fund is limited to raising money…
IRS Issues Procedures For Reinstatement of Tax-Exempt Status The Internal Revenue Service (“IRS”), with the issuance of Revenue Procedure 2014-11, provides procedures for organizations to follow to reinstate tax-exempt status that was automatically revoked as a result of the Pension Protection Act of 2006. This Revenue procedure modifies and supersedes earlier guidance outlined in IRS…
Holidays Around the World in February Check out the below table to learn what holidays people are celebrating around the world in February! Previous Post Next Post