Firm News

Business Tax Planning and Transactions

Important Update on Corporate Transparency Act Reporting Requirements

New Corporate Transparency Act

There is a significant regulatory development that may impact your business operations—the Corporate Transparency Act (“CTA”). Enacted as part of the National Defense Authorization Act for Fiscal Year 2021, the CTA introduces new reporting requirements for beneficial ownership information (“BOI”), aimed at enhancing corporate transparency and preventing financial crimes. Overview of the Corporate Transparency Act The CTA mandates that certain entities disclose BOI to the Financial Crimes Enforcement Network (“FinCEN”). […]

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KJMLAW Partners’ Client Warp2Biz Sells to Gigstreem

Warp2Biz logo

KJMLAW Partners, Attorney Michael O’Connor assisted our client Warp2Biz, a Southern California-based internet service provider, in its sale to Gigstreem, a leading provider of high quality residential and commercial broadband networks nationwide. David Hellmold, CEO of Warp2Biz, who will be joining the Gigstreem executive team and leading its commercial sales efforts said, “Joining forces with Gigstreem provides us with the opportunity to deliver even greater value to our customers and […]

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Kevin J. Moore Attends NYU’S 78th Institute on Federal Taxation

San Francisco Bay bridge night view

Last week Kevin J. Moore attended the NYU 78th Institute on Federal Taxation in San Francisco. This conference covered the most advanced tax issues, offering participants a clear understanding of the key issues affecting their clients or business and presenting planning ideas that can immediately be used in practice. The Institute also provided the perfect setting to meet practitioners from all around the country. The range of attendees included: attorneys, […]

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KJM Quoted in Msn.com Article on Steps to Reduce Your Tax Bill

Tax planning attorney working at the office

Kevin J. Moore was recently quoted in MSN.com article “10 steps you can take right now to reduce your tax bill”. One of the ways you may reduce your tax liability is through tax-loss harvesting. Tax-loss harvesting is the selling of assets, such as stocks at a loss, in order to offset gains realized on other assets or stocks. In the article, Mr. Moore explains the importance of tax-loss harvesting […]

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How To Reduce Capital Gains Taxes

IRS Building

The recent passage of the Tax Cuts and Jobs Act (TCJA) increased interest in C Corporations. The Act permanently reduced the federal income tax rate on C Corporations from 35% to 21%. The widespread media coverage has led company founders, shareholders, and investors to ask whether they would benefit from being a C Corporation. There is another less publicized provision of the IRS Code that may also benefit shareholders of […]

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International Tax Planning Helps Foreign Nationals Buy Peace of Mind

International flags

In 2012, foreign nationals conducted about 17 percent of real estate transactions in California. They may have engaged the professional assistance of real estate agents and brokers to streamline the purchase process but without thoughtful attention to legal details around international tax planning strategies, they may be putting their U.S. assets at risk of significant gift and estate tax consequences – often to the tune of 40% of the property […]

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Corporations 101: Double Taxation, Write-Offs, and Fringe Benefits

My corporations 101 series, which began with a look at roles, responsibilities and structure, continues. Let’s talk today about C corporations and money matters. When you create a C corporation, you’re establishing an entity that is legally independent of its shareholders and managers. The IRS views this entity as a “legal person” that can do business and make contracts. Most big brand companies are C corporations, and for good reasons: They […]

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Equity, Debt and a Process Called ROBS: Funding a New Business

Let’s say you’ve had an idea for a new venture. Maybe you want to open a cafe specializing in Viennese pastries. Or you’d like to start a writing school offering classes for IT consultants, attorneys and other professionals. Or you want to be a one-man company that plans trips for wealthy clients and travels the world with them. Depending on the business sector and other factors, your funding needs can […]

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Corporations 101: Roles, Responsibilities, Structure

How are corporations structured? What must you do to fund them and take money out? How do you set them up? What are best business practices? I’ve talked in previous blog posts about specific aspects of closely held businesses, such as shareholder disputes and the rights of minority shareholders. Today, I want to get back to basics with a series that I’m calling Corporations 101. Let’s start with the first question above: […]

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