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Planning for US Retirement Assets
By: Juliya Ismailov For anyone who has substantial tax-deferred retirement assets in the US, it is important to understand that the US...
wbricker
Mar 8, 20213 min read
New York Enacts Changes to Law Governing Powers of Attorney
By: Juliya Ismailov On December 15, 2020, Governor Cuomo signed into law an amendment to the New York statute governing a Power of...
wbricker
Jan 29, 20212 min read
2nd ADDENDUM - "Proposed Coronavirus Relief: PPP Expenses; Remote Worker State Tax Issues"
By: Linda Galler, William Bricker and Maria Pigna The New York State Fiscal Year 2020-2021 Budget Bill, signed into law by Governor Cuomo...
wbricker
Jan 28, 20211 min read
Corporate Transparency Act Will Require Beneficial Ownership Disclosures by Corporations and LLCs
By: Maria Pigna, Rachel Trickett and William L. Bricker, Jr. On December 11, 2020, Congress passed a measure designed to curtail the use...
wbricker
Jan 12, 20213 min read
The New COVID-19 Relief Package
By: William Bricker, Jr., Linda Galler and Juliya Ismailov On Monday, December 21, 2020, Congress approved a $900 billion COVID-19 relief...
wbricker
Dec 23, 20202 min read
Final Regulations Issued on Like-Kind Exchanges
By: Juliya L. Ismailov At the end of 2017, the Tax Cuts and Jobs Act ("TCJA") restricted like-kind exchanges under Sec. 1031 of the Tax...
wbricker
Dec 15, 20203 min read
ADDENDUM – “Proposed Coronavirus Relief: PPP Expenses; Remote Worker State Tax Issues"
By: Rachel Trickett and Maria Pigna On Monday December 14, 2020, a group of bipartisan lawmakers introduced the Emergency Coronavirus...
wbricker
Dec 15, 20201 min read
Proposed Coronavirus Relief: PPP Expenses; Remote Worker State Tax Issues
By: Rachel Trickett and Maria Pigna While “stimulus” COVID-19 relief may be uncertain, COVID-19 tax relief nonetheless may occur. While...
wbricker
Dec 14, 20204 min read
President-Elect Biden’s Proposed Tax Plan Drives Tax Planning–Part II
By: Maria Pigna and Rachel Trickett Certain provisions of the Biden Tax Plan could impact business planning. A lack of control of the US...
wbricker
Dec 12, 20203 min read
IRS Signals Approval of SALT Cap Workaround
By: Rachel Trickett, Juliya L. Ismailov and Maria Pigna In Notice 2020-75, released on November 9, the Department of the Treasury and the...
wbricker
Nov 19, 20204 min read
New York-Based Employees Who Work Remotely Out-of-State Are Subject to New York Income Tax
By William L. Bricker, Jr., Rachel Trickett and Maria Pigna Taxpayers frequently anticipate that telecommuting from outside of New York...
wbricker
Nov 8, 20205 min read
Joe Biden’s Proposed Tax Plan Drives Tax Planning
By: William L. Bricker, Juliya L. Ismailov, Linda Galler and Rachel Trickett Partial Summary of the Biden Tax Plan [1] This note will...
wbricker
Oct 25, 20205 min read
IRS Issues Rules to Preserve Some Deductions for Trusts, Estates and Their Beneficiaries
By: Juliya L. Ismailov Clients often ask us whether their trust should be a "grantor" or "non-grantor" trust. This is an income tax...
wbricker
May 18, 20203 min read
IRS Relaxes “Substantial Presence” US Residency Test
By: Linda Galler and Juliya L. Ismailov The IRS has provided short-term relief to non-US persons who did not anticipate meeting the...
wbricker
May 17, 20203 min read
Congress Introduces Legislation to Allow the "Double-Dipping" Deduction of PPP-Paid Expenses
By: Juliya L. Ismailov In the wake of major legislation, known as the CARES Act (as discussed in this prior article), passed in late...
wbricker
May 7, 20202 min read
IRS Issues Guidance on Deductibility of Business Expenses Paid by Payroll Payment Program Loans
By: Juliya L. Ismailov While the CARES Act is clear on the income tax treatment of the forgiven portion of a Payroll Payment Program...
wbricker
May 3, 20201 min read
Federal Loans, Forgiveness and Taxes in the Time of Corona
By: William Bricker, Linda Galler and Juliya Ismailov The Paycheck Protection Program (“PPP”) is a popular feature of the CARES Act...
wbricker
Apr 28, 20203 min read
Federal Interest for Loans at Near-Zero Historic Lows
By: Linda Galler On April 18, the IRS issued Rev. Rul. 2020-11, establishing monthly applicable Federal rates (“AFRs”) for May 2020....
wbricker
Apr 23, 20202 min read
Remote Will Executions
By: Juliya Ismailov During the COVID epidemic and related emergency actions taken by state and federal governments, we have been asked if...
wbricker
Apr 18, 20201 min read
Summary of Coronavirus Legislation, The CARES Act
By: Juliya Ismailov After the Senate previously passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) on...
wbricker
Apr 7, 20205 min read
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