The Internal Revenue Service (“IRS”) recently announced its awareness of virtual currency (such as bitcoin) and wanted taxpayers to know the tax consequences of using virtual currency. As the IRS [...]
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Generally, IRAs are protected from claims of the contributor’s creditors under federal bankruptcy law, (with the exception of divorce). However, a recent ruling by the Supreme Court peels back [...]
This is the first in a series on post-mortem planning techniques to manage taxes and optimize estate planning following death. It’s difficult, to say the least, to alter your estate plan after [...]
Term Sheets or Letters of Intent (LOIs) are commonly used in the buying or selling of businesses or other key contractual relationships. The purpose of LOIs are to clearly state the principal [...]
Confidentiality agreements are among the most common types of commercial contracts. Businesses use confidentiality agreements to protect their valuable, non-public business information in [...]
A considerable problem for real estate lenders existed when a potential borrower approached a lender for a construction loan after construction commenced. The prior version of the Pennsylvania [...]
The like-kind exchange rules permit deferral of the obligation to pay federal income tax when an asset, which has been held for productive use in a taxpayer’s trade or business or for investment, [...]
Recent news has been littered with examples of companies that have had their data systems breached or hacked, resulting in the release of confidential information to the public. In simple terms, [...]
Some studies have found that a company’s average cost of a data breach can exceed $5,000,000. This cost does not factor in the additional damage that a company’s reputation will suffer, along [...]
In the recent case of Bross Trucking, Inc., the Tax Court provided further guidance to taxpayers about a technique we have long known to be beneficial to shareholders of C corporations. When a C [...]
