Business Organization Finance & Banking Tax

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Member-Employees of Limited Liability Companies

Every now and then, the question arises: can an owner of a limited liability company (LLC) also be an employee of that company? The answer boils down to how the LLC elects to be taxed. ...more

Stuff That Won’t Help A Retirement Plan Sponsor Limit Their Liability

As eat belt in a car is useless if the driver or passenger isn’t wearing it. A smoke detector is useless if the batteries are dead. Vitamin C won’t prevent a cold and putting paper on your forehead won’t cure hiccups. For a...more

End of Year Tips for The 401(k) Plan Sponsor

With Thanksgiving done, we look to the holidays and the New Year. While many of us are busy shopping for loved ones, many businesses and individuals have their eye geared to- wards next year. As a retirement plan sponsor, you...more

Pearls of “Wisdom” for 401(k) Plan Providers

I am no genius and I’m sure all of you will agree. I have only been success- ful as an ERISA attorney because of my ambition and an uncanny ability to connect with my audience even though I’m still that shy kid from Canarsie,...more

Stuff That Prospective 401(k) Plan Providers Tell You That’s True

When 401(k) retirement plan providers are courting you, your instinct when listen- ing to the sales pitch is that the provider is telling you only what they want you to hear. However, a good chunk of the time, they aren’t...more

Judge Rules Against FTB In “Doing Business” Definition

Over a year ago, I wrote about an Iowa corporation, Swart Enterprises, Inc., which operates a 60 acre farm in Kansas. Swart has no physical presence in California. It owns no real or personal property in California. However,...more

An Employer’s “Recipe” for having a Great Retirement Plan

Every good meal needs a good recipe and every good recipe needs good ingredients. While many products out there have secret ingredients (Coca- Cola), others have secret ingredients that aren’t (that Big Mac special sauce is...more

Internal Revenue Service Releases Interim Guidance Regarding Accountable Care Organizations' Use Of Tax-Exempt Bond-Financed...

On October 24, 2014, the Internal Revenue Service (IRS) released Notice 2014-67, which provides guidance for determining whether a state or local governmental entity or an organization described by Section 501(c)(3) of the...more

Why An Employer Can And Should Set Up A Retirement Plan Committee

Being a retirement plan sponsor can be a bit overwhelming and one of the major reasons that retirement plans are mismanaged because there is a lack of management. Retirement plan committees, regardless of the size of the plan...more

Cashing Out of a Partnership – The Joy of Distributions

While partners usually groan upon receiving capital calls, they are delighted to receive distribution checks. However, provisions regarding distributions can be convoluted and require more than perfunctory consideration. Any...more

Good “Housekeeping” Tips To Minimize A Retirement Plan Sponsor’s Liability

When I was at Stony Brook, there was a Political Science course that I enjoyed called Government Regulation of Business. When it came time to exams, I realized that buying the textbook was a bad idea since the exams were just...more

Appel: Corporate Inversions Could Mean Big Tax Bills For Shareholders  [Video]

Nov. 3, 2014 -- Allen Appel, Professor at New York Law School and Director of the International Tax Program, talks with Lee Pacchia about corporate inversions....more

How A Plan Provider Can Lose Clients in 7 Easy Ways

It’s easier to spend money than to make money. It’s easier to lose a client than get hired by a new one. As a retirement plan provider, you can ill-afford to lose clients. Too many retirement plan providers don’t see how...more

Internal Revenue Service Releases Notice Liberalizing the Private Business Use

On October 24, 2014, the Internal Revenue Service (“IRS”) released Notice 2014-67 (the “Notice”), providing guidance with respect to Accountable Care Organizations and their use of tax-exempt bond financed projects. The...more

IRS Releases Favorable Private Business Use Rules for Facilities Financed With Tax-Exempt Bonds

On October 24, 2014, the IRS released Notice 2014-67, which establishes more favorable safe harbors for types of service contracts and other arrangements using property financed with tax-exempt bonds. The Notice also provides...more

Notice 2014-67 ?? Safe Harbors for ACOs and a New Management Contract Safe Harbor for Everyone

On Friday, Oct. 24, 2014, the Internal Revenue Service released interim guidance, Notice 2014-67, on whether a state or local government entity or an organization described in §501(c)(3) of the Internal Revenue Code of 1986,...more

IRS Releases Private Business Use Guidelines for ACO Participants

On Friday, October 24, 2014, the Internal Revenue Service (IRS) released Notice 2014-67, providing guidance regarding the circumstances under which participation by a hospital in an Accountable Care Organization (ACO) will...more

How to Pick Your Retirement Plan Providers

It’s easier to spend money than to make money. It’s easier to lose a client than get hired by a new one. As a retirement plan provider, you can ill-afford to lose clients. Too many retirement plan providers don’t see how...more

Retirement Plan Sponsors Should Know Their Role as Plan Fiduciaries

I love professional wrestling and I’m not afraid to admit. Yes, I know it’s not real just like I know the Ewings don’t live on Southfork Ranch. Maybe it’s in my blood since both of my grandfathers watch it, but I find the...more

Doing Business in Australia

With strong economic fundamentals, a positive outlook, proximity and strong trade links with some of the world’s most dynamic economies, Australia offers a wealth of opportunities for global investors and multinational...more

Angels in Limbo: Congress and SEC Consider Regulatory Changes with Potential for Profound Effects on Start-Up Investments

Three events occurred during 2013 that have the potential to significantly affect angel investment around the country: (1) the Securities and Exchange Commission (“SEC”) lifted the prohibition on general solicitation for...more

Issues with Hiring a Mutual Fund Company as Your 401(k) TPA

In England, British breweries own many of the top beer pubs because watering holes are an effective means of beer distribution. If a business can control the method of distribution of their own products, they can expand the...more

IRS: Investment Fund Managers are Subject to Self-Employment Tax

The Office of Chief Counsel of the Internal Revenue Service (the "IRS") recently issued internal guidance in the form of a Chief Counsel Advice (the "CCA") indicating that the IRS has taken the position that the "limited...more

Tales of a Former TPA Attorney

I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for third party administrators (TPAs) because it gave me insight and experience that I could never have gotten as an attorney...more

IRS Internal Memorandum Advises That Self-Employment Tax Applies to Profits From an Investment Manager

On September 5, 2014, the Office of Chief Counsel, Internal Revenue Service (IRS) released an internal generic legal advice memorandum advising an IRS field agent that the statutorily provided “limited partner” exception to...more

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