Tax

The Infrastructure Investment and Jobs Act, signed by the President on Nov. 15, 2021, presents a number of issues for advisers, planners and taxpayers to consider.

The Biden Administration and the Democratic controlled Congress is rolling out a robust spending plan that will provide benefits and burdens for the defense and government contract community. This article provides a road map that will assist in providing permissibly selective benefits for the qualifying government contractors and employees.

The Commonwealth Court of Pennsylvania recently analyzed whether the City of Philadelphia's selective reassessment in tax year 2018 of only commercial properties at current market value violated the Uniformity Clause and the Assessment Law's requirement that the City assess all properties annually at actual market value.

As the healthcare industry is emerging from the pandemic they are looking for ways to reward, retain and recruit a very important segment of its people — Registered Nurses. Employers are looking for ways to provide benefits in an economically efficient fashion that does not create an immediate and punitive tax on the participant.

Part One of a Two-Part Article While providing a current benefit for employees, an employer sponsored death benefit is an asset that may create needless taxation if not properly handled. Taking prudent steps will avoid the problems of loss of control and flexibility while minimizing income, estate, transfer and capital income taxes.

The significance of the U.S. Tax Court decision for celebrities and their estates is clear: Prior to now, as Tax Court Judge Mark V. Holmes noted: "We haven't had a case directly addressing the taxability of the image and likeness."

NJ Senate Bill 3246 established the "business alternative income tax" (BAIT), an elective business tax regime for pass-through entities. Law firms are left wondering if electing to pay the BAIT is the right choice. This article summarizes how the NJ BAIT works, as well as its pros and cons.

Part Two In a Series In this part of the series on "zoning" bonuses in the city of Philadelphia, we explore Floor Area Bonuses provided under the Mixed Incoming Housing, Green Building, and Underground Accessory Parking & Loading Bonuses.