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This installment discusses how to use benefit laws that have been on the books for over 30 years to fund not only death benefits but also alternatives to deferred compensation for business and estate planning purposes for pass-through entities.
Part I of this article (in last month’s issue) identified the proposed changes in partnership tax law as proposed by the Biden Administration and implemented by a Democratic Congress. The proposed changes are intended to simplify the tax law and permit the IRS to be able to audit and collect taxes in a more effective and efficient fashion. We showed how using benefit laws that have been on the books for over 30 years we can provide a seamless platform for owners of pass thru entities to reduce income estate and transfer taxes. This installment discusses how to use this platform to fund not only for death benefits but also for alternatives to deferred compensation for business and estate planning purposes for pass-through entities.
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Know When to Hold ’Em And Know When to Fold ’Em: 4 Questions to Ask When Thinking of Merging
By J. Mark Santiago
Deciding to merge is a process that is best undertaken when a firm has as much information as possible about what their objectives and desired outcome is. Developing that information is best achieved by answering four questions.
New Approaches to Outsourced Labor
By Ben Schmidt
Employees are the lifeblood of an organization. Companies, including law firms, are rightfully attempting to navigate what the past two years have meant to the labor force and make sense of the changes to the landscape so that they can successfully manage their businesses. Included in this mix are outsourcing service providers.
The Biden Administration’s 2023 Budget: Déjà Vu All Over Again
By Lawrence L. Bell
The Treasury’s Greenbook commenting and explaining budget recommendations for FY 2023 raises warnings of tax increases. But what are the odds Congress passes anything before the midterm elections this November? This article presents a summary of the proposed tax increases and the likelihood of these provisions being enacted into law.
Law Firms Reviewing Contracts to Battle Inflation
By Phillip Bantz and Trudy Knuckles
As inflation worsens, legal chiefs and their in-house teams are stepping up and finding ways to help their companies tamp down a vast array of price hike fires. And a significant part of that work is reviewing contracts with service providers, clients and other business partners.
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