With fall coming up in a couple of months, it’s time to think about “harvesting” capital gains or losses from sales of securities. In addition, unfavorable tax law changes proposed in President Biden’s American Families Plan (AFP) may create an added sense of urgency for some taxpayers. The Basics When you sell securities and other  Continue Reading »

Derek Scott Williams PLLC v. Cincinnati Ins. Co. Summary In this business interruption case resulting from mandatory shutdowns to control COVID-19, the court declined to grant a motion to dismiss the claim of the plaintiff as to coverage for loss of business income but does dismiss the claim of coverage under the civil authority provision  Continue Reading »

Special purpose acquisition companies (SPACs) provide an alternate route for start-ups to access public markets instead of initial public offerings (IPOs). Roughly 200 SPACs debuted in 2020, drumming up close to $64 billion in funds. In 2020, there was as much capital raised through SPAC offerings as in the prior 10 years. That momentum has  Continue Reading »

The key issue in the bankruptcy proceedings involving a debtor entity that owned two hotels was the value of the hotels, which would control the amount of the main creditor’s secured and unsecured claims. The valuation date was October 2020, a point when the effect of COVID-19 was keenly felt, particularly in the hospitality industry.  Continue Reading »

So-called “lean” manufacturing is easier said than done, but there are several improvements that can increase your firm’s output. Lean companies operate as efficiently as possible, using the least possible staff time, equipment, and raw materials. Here are four ideas to consider implementing this summer to help boost profits for the remainder of 2021 and  Continue Reading »

Aspro, Inc. v Commissioner The U.S. Tax Court recently agreed with the Internal Revenue Service that management fees a corporation paid to its three shareholders over a three-year period were not deductible since none of the fees were paid “purely for services” and the petitioner failed to show the fees were “ordinary, necessary, and reasonable.”  Continue Reading »

In normal market conditions, people who’ve been unemployed due to an economic slump are generally eager to take a job when the economy perks up. But times are far from normal in many places and industries. One of the most pressing concerns employers face today is labor quality and availability, according to findings from The  Continue Reading »

Precision Kidd Acquisition, LLC v. Pass This Pennsylvania appellate court decision (unpublished) includes an informative discussion of how to measure damages arising out of a merger in which the seller allegedly failed to inform the buyer during negotiations that one of its bigger customers had terminated a supply contract. The buyer (appellant) argued the proper  Continue Reading »

Preparing for a surge in demand for your business’s products and services doesn’t mean you have to go out on a financial limb.  Depending on your industry, local weather may weigh heavily into your plans, especially if the weather you’re experiencing is unreasonable. And then there’s the new universal elephant-in-the-room, COVID-19, and how it affects  Continue Reading »

Raley v. Brinkman In a Tennessee buyout dispute involving a limited liability corporation organized as an S-corporation, the parties disagreed over whether it was appropriate to tax affect in calculating the fair value of the terminated member’s interest. The trial court declined to tax effect. In contrast, after explaining the concept of fair value, the  Continue Reading »