Partnerships

News & Analysis as of

GAO Issues Preliminary Report on Challenges in Auditing Large Partnerships

The Government Accountability Office (“GAO”) recently issued a preliminary report on the challenges in auditing large partnership returns, a copy of which is available here. The GAO issued an interim report earlier this year...more

Protecting Trade Secrets During Business Collaboration [Video]

Businesses are increasingly working together to develop new products and services. With that collaboration is the risk that precious trade secrets will be lost. Attorney Christopher Larus sits down with Seth Northrop to...more

Joint Venture Critical Issues: Formation, Governance, Competition And Exits

The joint venture is a vehicle for the development of a business opportunity by two or more entities acting together, and will exist if the parties have: (1) a community of interest in the venture, (2) an agreement to share...more

Critical Issues in Hospital and Health System M&A

In This Issue: - Executive Summary - Preparing a Hospital or Health System for Sale or Partnership Transactions - Developing a Hospital Transaction Strategy and Process - The Role of the Nonprofit Hospital...more

The Human Factor: Joint Venture Partner Compliance (Part III of III)

It is time for another in my series of profound grasps of the obvious – compliance comes down to people. A company violates its code or the law because of human actions or inaction....more

Guide to Doing Business in Australia: An Introduction to Australia

AN INTRODUCTION TO AUSTRALIA - Australia is a federation comprised of six states and two territories. The federal government, based in the capital city of Canberra, is known as the Commonwealth of Australia. Australia...more

Advisors Advantage - September 2014

Starsky had Hutch, Cagney had Lacey, Fred had Ginger, Bogie had Bacall, Bonnie had Clyde, Bert had Ernie, Baskin had Robbins, and Sheriff Bart had the Waco Kid. Whether it's law enforcement, entertainment, or any type of...more

Summary of IC-DISC Tax Benefits

Interest-Charge Domestic International Sales Corporations (“IC-DISCs”) offer significant potential tax benefits for U.S. companies that export U.S. manufactured products or certain engineering or architectural services with...more

How Big Is My Partnership Agreement?

When parties intend to become partners, they typically enter into a written agreement with the terms of their arrangement; “handshake” deals are few and far between. This is certainly advisable, as people forget facts,...more

Beware of Promises

In the early stages of a new venture, things move quickly. An entrepreneur will talk with many different potential team members, some of whom aren’t a good fit, some of whom become co-founders and valued long-term partners,...more

Week in Review

Businesses that support the sharing economy continue to grow, as evidenced by this week's news headlines. Airbnb announced it is partnering with Concur, a commonly used expense account management software. This partnership,...more

Are You My Partner? Considerations for Structuring Business Transactions

When entering into a business arrangement where revenues are shared between two or more persons, it is necessary to consider whether those parties have become partners either for state law or tax purposes. No express intent...more

In Business & Corporate Law Avoiding a Messy Business Divorce is Important! #BusinessAttorney

When people come together to begin a business, they may not think the time will come when they will not get along. But if, after many years, you and your business partner no longer see eye-to-eye when it comes to how to...more

Amendments to Offshore Fund Rules to Reflect Finance Act 2014 AIFM Partnership Tax Changes

Regulations amending the Offshore Funds Regulations 2009 (the 2009 Regulations) to reflect the Finance Act 2014 changes to the taxation of alternative investment fund managers operating as partnerships (AIFM firms) were made...more

Orrick's Financial Industry Week in Review

Amendments to Offshore Fund Rules to Reflect Finance Act 2014 AIFM Partnership Tax Changes - Regulations amending the Offshore Funds Regulations 2009 (the 2009 Regulations) to reflect the Finance Act 2014 changes to...more

Doing Business in Canada: Employment Law

EMPLOYMENT LAW - THE EMPLOYMENT RELATIONSHIP - There are many different types of relationships which businesses can have with the people and corporations who perform services for the business, including but not...more

Homebuilder Series Webinar: Joint Ventures Solutions, Steve Lear [Video]

This is the second in a series of in-depth webinar discussions that cover a range of legal and business issues affecting the homebuilder industry. Homebuilders frequently use joint ventures as a means to finance...more

For Love or Charity – A Charitable Bailout Using Charitable Remainder Trusts for the Sale of a C Corporation

I have personally observed in my professional travels that many taxpayers are reluctant charitable donors. However, we you remind a business owner that they only have three choices when it comes to taxes (1) Pay yourself;...more

Cross-Border Interest Expense Apportionment Regulations Finalized

The IRS issued cross-border interest apportionment final regulations. These adopt the approach from the 2012 temporary regulations, requiring a 10% corporate partner to apportion its interest expense by reference to the...more

But What About The Company?

For many married couples in California and other community property states, a closely-held business is the most valuable community asset. And whether or not they’re in a community property state, both spouses may be active...more

Final Noncompensatory Partnership Options Regulations Could Affect the Tax Treatment of Penny Warrants and Other Arrangements

Investments in partnerships (and other pass-through entities such as limited liability companies treated as a partnership) often involve the acquisition of warrants, options or other rights to acquire securities. This is...more

Supreme Court Provides Standard for Evidentiary Hearing in IRS Summons Enforcement Proceeding

On June 19, 2014, the Supreme Court unanimously ruled that taxpayers have a right to an evidentiary hearing in an IRS summons enforcement action when the taxpayer “offers some credible evidence supporting his charge” of...more

Affirmative Use of U.S. Partnerships in Inbound Tax Planning

A “U.S. shareholder” of a controlled foreign corporation (CFC) is required to include in its gross income its pro rata share of a CFC’s “subpart F” income, regardless of whether such income is distributed. In general, a CFC...more

High Court Opens Door To IRS Personnel Examination

The U.S. Supreme Court issued a unanimous opinion Thursday in United States v. Clarke (No. 13-301) addressing the standard that must be satisfied before a taxpayer can question Internal Revenue Service personnel about its...more

The Importance of Planning Joint Venture Exit Strategies

With the Miami real estate market making a resurgence, there is a new rush for companies to come together in a joint venture to acquire real estate and develop projects. With the excitement of a new deal, the joint venture...more

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