Posted in: Tax – Federal, State and Local

Paycheck Protection Program: IRS Confirms Expenses Are Not Deductible

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November 19, 2020 Our firm continues to stay on top of the Paycheck Protection Program (PPP) and its impact on our business clients, and individual owners of flow-through entities. With some very timely guidance, the U.S. Treasury Department…

Status Update: Ohio’s Proposed Tax Amnesty Program Offers Settlement Opportunities for Individuals and Businesses with Tax Liabilities

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November 2, 2020 In a previous client alert here, released on June 12, 2020, Vince Nardone and Mike Sorice discussed a proposed tax amnesty plan passed by the Ohio House of Representatives set to begin on January 1, 2021. Although the program…
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Ohio’s Proposed Tax Amnesty Program Offers Settlement Opportunities for Individuals and Businesses with Tax Liabilities

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  June 12, 2020 The Ohio House of Representatives has unanimously approved a new tax amnesty proposal (HB 609), would raise revenues for the state and provide relief for taxpayers while Ohio’s economy recovers from the COVID-19…
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Congress Delivers a Gift for Charitable Business Owners

Walter | Haverfield’s Alexis Kim explained the Bipartisan Budget Act of 2018 in the Cleveland Metropolitan Bar Journal. The act provides an exception to the excess business holding rules for certain philanthropic businesses.
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TCJA May Spur Liquidations Of Family Limited Partnerships

  Walter | Haverfield partner Gary Zwick was quoted extensively in an article in Tax Notes, which is a premier national publication in tax law. Gary discussed the benefits of family limited partnerships and the tax ramifications…
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Ohio's Tax Amnesty Program Kicks Off January 1

Individuals and businesses have until February 15 to pay unreported or underreported tax liabilities and avoid penalties, reduce interest costs Individuals and businesses that owe unreported or underreported tax liabilities as of May 1, 2017,…
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Federal Tax Updates

On October 29, 2017, Gary A. Zwick will be speaking on the topic, "Federal Tax Updates," at the West Virginia Tax Institute, in Charleston, West Virginia.
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Business Law: Start to Finish

On September 15, 2017, Gary A. Zwick will address the topic, "Handling Common Business Tax Issues," at the NBI Seminar ("Business Law: Start to Finish"), in Akron, Ohio.
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Contributions to quasi-governmental public-private partnerships

In the August 2017 issue of The Tax Adviser, Alexis J. Kim authored an article titled, "Contributions to quasi-governmental public-private partnerships." Through this article, donors may gain a better understanding of how a Sec. 115(1) organization…
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Private Letter Rulings Help Six Ohio Land Banks Aggressively Pursue More Land Donations

In an article published in the July/August 2017 issue of Ohio Township News and titled, "Private Letter Rulings Help Six Ohio Land Banks Aggressively Pursue More Land Donations," Alexis J. Kim explained Walter | Haverfield's role in securing…
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With a decree from the IRS and ample funding, Summit County Land Bank is gearing up for a busy year

In an article written by reporter Dan Shingler and published in both Crain's Cleveland Business and Crain's Akron Business, Alexis J. Kim discussed a letter issued recently by the IRS, which essentially guarantees a tax deduction for donors…
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Renting out your home during the 2016 Republican National Convention: windfall or tax liability?

In a Crain's "Legal Guest Blog," published on June 16, 2015 and titled, "Renting out your home during the 2016 Republican National Convention: windfall or tax liability?," Alexis J. Kim advised homeowners to be aware of the tax consequences…
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Tax Considerations When Investing in a Joint Venture

Clients frequently seek legal advice when they are considering the start-up of a new venture or investing in an existing business. Challenging aspects of these deals include the tax issues that arise by virtue of different investors contributing…
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Gary A. Zwick Awarded One of Three Kenneth Black, Jr. Journal Author Awards

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An article co-authored byandnbsp;Gary A. Zwickandnbsp;and published in theandnbsp;Journal of Financial Service Professionalsandnbsp;was recently awarded one of three Kenneth Black, Jr. Journal Author Awards for best article of the year. This…
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IRS Issues Anticipated Safe Harbor Guidance on Historic Tax Credit-Related Transactions

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Byandnbsp;Gary A. Zwickandnbsp;and Lacie L. O'Daire.On December 30, 2013, the Internal Revenue Service issued its long-anticipated "Safe Harbor" guidance for transactions in which federal Historic Tax Credits are employed to raise capital for…
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Drafting Formulas Based on EBIDTA

"Drafting Formulas Based on EBIDTA," The Practical Tax Lawyer
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Intra-Family Loans

"Intra-Family Loans," Probate Law Journal of Ohio
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Now is the Time to Plan for Changes in the Health Law

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Byandnbsp;David E. Schweighoefer andandnbsp;Lacie L. O'Daire The laws requiring changes to health care and benefits provided by employers are either already in force or will be in force in the next year or two. The impact upon you and your business…
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Why Tax Minimization is Overrated in Estate Planning

"Why Tax Minimization is Overrated in Estate Planning," Journal of Financial Service Professionals, co-authored with James John Jurinski, JD, CPA
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Judicious Use of Your Estate and Gift Tax Exemption Requires Action Soon

The year 2012 presents U.S. taxpayers with a gift planning dilemma. As the law stands today, and at least until December 31, 2012, every person may transfer up to $5,120,000 ("Estate Tax Exemption") of assets to any one or more persons (excluding…
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Executive Editor, 15th ED. Tools and Techniques of Estate Planning

Executive Editor, 15th ED.andnbsp; Tools and Techniques of Estate Planning, published by National Underwriter Company
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"Trustee Compensation: Proceed with Caution"

In the August 2010 issue ofandnbsp;The Tax Adviser,andnbsp;John E. Schillerandnbsp;discussed the potentially sensitive issue of trustee compensation in his article, "Trustee Compensation: Proceed with Caution."
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Property Received in Exchange for Services

"Property Received in Exchange for Services," Lexis Nexis On-Line Tax Encyclopedia
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Transferring Interests in the Closely Held Family Business

"Transferring Interests in the Closely Held Family Business," Legal Treatise, published by ALI/ABA; 316 pages, co-authored with James J. Jurinski
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Tax and Financial Planning for the Closely Held Family Business

"Tax and Financial Planning for the Closely Held Family Business," Legal Treatise, published by ALI/ABA; 586 pages, co-authored with James J. Jurinski
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Golden Opportunities in Retirement Funds

"Golden Opportunities in Retirement Funds," The Ohio Lawyer, co-authored with Armond and Amy Budish
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Contributor to the book, Golden Opportunities

Contributor to the book, Golden Opportunities, by Amy and Armond Budish