Dynasty Trusts: The Power of Compounding and Avoiding Estate Tax
Tax and Wealth Planning Associate, Geoffrey A. Weg, recently authored an insightful article on Dynasty Trusts and their potential for restricted tax exemption. The article begins as follows: “Clients who engage in estate planning are generally thinking long-term, and want to provide financial benefits for future generations. The dynasty trust is a uniquely powerful estate planning tool to achieve these goals.” Click the link below for the complete article. Dynasty Trust...
Read MoreProposed Guidance Under Code Section 108(c)(3)
For the 21st year in a row, the Taxation Sections of the Los Angeles County Bar Association (“LACBA”) and the State Bar of California (“SBC”) are sending a delegation to Washington, D.C. to meet with officials in the Treasury Department and the Internal Revenue Service, staff of the House Ways & Means Committee, the Joint Committee on Taxation and the Senate Finance Committee and judges with the U.S. Tax Court. The Delegation serves a variety of functions, the most important is to make a substantive contribution to our nation’s tax law, while familiarizing...
Read MoreThe Real Deal: How do you fit into the Real Estate Investment deal?
Valensi Rose Managing Partner, Arlen R. Gunner, was a Special Guest Speaker at the Los Angeles County Bar Association’s Young Tax Lawyers Group Event on August 11, 2009 entitled “The “Real” Deal: How do you fit into the Real Estate Investment deal?” The event, coordinated by the Young Tax Lawyers Group Chair and fellow Valensi Rose attorney, Thomas M. Giordano-Lascari, covered the ins and outs of real estate investing from the experts in the field. This “Real Estate 101” course was aimed at helping young professionals learn real estate investing by delving into...
Read MoreSongwriters and Music Publishers Continue to Score Tax Breaks
Valensi Rose, PLC Partner, Michael R. Morris, was recently published in the Journal of Multi State Taxation and Incentives. His article, “Songwriters and Music Publishers Continue to Score Tax Breaks,” discusses the long-term capital gain tax rates available to songwriters who sell their catalogs as well as how music publishers can recover purchase prices over a five-year amortization period. Click the link below to read the full...
Read MoreTo Arbitrate or Not to Arbitrate Legal Fees? That is the Question.
Laurie Murphy’s article entitled “To Arbitrate or Not to Arbitrate Legal Fees? That is the Question” was recently published in the Century City Lawyer, a publication of the Century City Bar Association. Click the link below to read a full copy of the article. Congrats Laurie! http://centurycitybar.com/newslettertemplate/April09/article3.htm
Read MoreDon’t File That Return Yet! IRS Issues Taxpayer Guidance For Madoff Investment Losses
By Geoffrey A. Weg and Thomas M. Giordano-Lascari As a result of the Bernie Madoff “Ponzi” scandal, IRS has issued guidance regarding the tax treatment of losses suffered by taxpayers that invested with Madoff and other fraudulent investment funds. Revenue Procedure 2009-20 offers taxpayers a “safe harbor” to compute and report these losses, allowing qualifying investors to deduct the vast majority of their losses in 2008. Revenue Ruling 2009-9 provides general guidance to taxpayers regarding the tax treatment of losses suffered by investors in such fraudulent arrangements. Revenue...
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