A family developing a family office needs to establish a governance framework apart from the operating business that grew its wealth.
A family developing a family office needs to establish a governance framework apart from the operating business that grew its wealth.
IRS proposes new regulations for mandatory e-filing of business and information returns. IRS reduces form threshold numbers.
When aligning your preferences with 1 of 3 main structural forms, a family office will position itself to succeed for many years to come.
A primer on a nonresident’s tax obligations when disposing of Taxable Canadian Property or Taxable Quebec Property.
The basis reduction following a discharge of qualified real property business indebtedness (QRBPI) may take place in the year of discharge.
Is a payment to a life science company monetizing a royalty stream a loan or sale proceeds? Is the income ordinary or capital?
Taxpayer relied on statute of limitations to defer tax on merger, then reversed course and said merger was taxable to reduce acquirer’s tax.
Ninth Circuit reverses Tax Court, based on Congress’ provision of tax benefits based on form rather than substance.
Mexico bans subcontracting arrangements. Companies need to act by Aug. 23 2021 to avoid tax, legal and judicial consequences.
Tax-deferral techniques—possibly spurred by a potential increase to capital gains rates—must be scrutinized, as evidenced by this IRS memo
Summary of the American Families Plan and the potential impact that it could have on the real estate industry.
Biden’s plan to grow the middle class, expand economic growth and leave the US more competitive, may be funded with tax changes.
IRS extended use of digital & electronic signatures for tax forms & documents & use of email for sending/receiving certain documents.
Increasing capital gains rates and low corporate tax rates create opportunity for an exclusion of gain on Qualified Small Business Stock.
RSM national enterprise leader for the family office practice at RSM US LLP, moderates a panel for the Association of Corporate Growth.
There are approximately 200 family offices established in Singapore managing $20 billion of assets, and these numbers will likely grow.
This Alert describes and explains the postponement of certain federal tax filing and payment deadlines in IRS Notice 2021-21.
In response to the pandemic, the Canadian government introduced support programs that could benefit U.S. multinationals.
From investing to accounting to compliance, digital solutions are now able to improve each of a family office’s operational components.
Managing significant tax changes will ensure individuals and businesses are positioned for success for the remainder of 2021 and beyond.
From retroactivity to loss of planning techniques, this year we face a unique set of concerns when considering gift and estate planning.
Family offices are benefitting from dashboard technology that integrates real-time data to support strategic planning and decision-making.
Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
Privately held C corporations may be able to maximize gain exclusions and unlock a lower corporate tax rate through section 1202.
The Auditing Standards Board has issued three proposed new standards for quality management at the firm and engagement levels.
While 2021 may turn into a feeding frenzy for private equity, longer-term investors can remain as selective as they’ve always been.
Biden’s campaign proposed tax increases that affect family offices, including rate hikes on corporations and wealthy individuals.
Matt Talcoff, RSM partner and national industry tax leader, and GrowthTV discuss the tax issues family offices should consider in 2021.
RSM and the Association of Corporate Growth discuss the use of technology to enable remote work during a pandemic and the risks to consider.
The IRS launched a new option to electronically submit third-party authorization forms with either handwritten or electronic signatures.
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
Managing the risk of business email compromise and other cyberattacks through proactive family office cybersecurity assessment.
In this short video, we bring you up to date on the final carried interest regulations and give guidance on actions fund managers may take.
Final carried interest regulations ease rules for capital interest allocations as well as related party transfers.
Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.
A look at the impact of Brexit on tax treaties and on the operation of tax law internationally in the new year.
The Internal Revenue Service issued proposed regulations establishing a user fee to request estate tax closing letters.
RSM’s Jason Kuruvilla provides insights on portfolio management, smart investing and what the impact of COVID-19 means for the future.
Advanced technologies boost efficiency for family offices. How will your office leverage technology for growth?
German tax may apply to payments for the licensing or sale of German registered IP, even if neither party resides in Germany.
Learn why the IRS is increasing its scrutiny on high net worth athletes and entertainers, and what can be done before an audit.
Collaborative investing: Partnering with other families, PE and independent sponsors. Watch as four family office leaders share insights.
Now that Democrats’ best-case scenario in the Senate is a 50-50 split, it is safe to expect significant challenges to tax policy changes.
Section 1202 could provide small business investors with a complete exemption of gain realized from the sale of QSB stock.
Updated IRS materials suggest a renewed and heightened focus on the reporting of virtual currency transactions by taxpayers.
With the election approaching, RSM is looking at the economic stakes and the key issues for family offices.
The IRS announced that December 31, 2020 will be the last date to submit tentative net operating loss carryback claims via fax.
A business-minded approach: Cybersecurity for family offices begins with awareness of prevalent threats and their own risk profiles.
Join this webcast to explore the impact of state tax policy on wealthy individuals, including fund executives and business owners.
RSM is pleased to offer a three-part webcast series exploring how family offices can take a holistic approach to technology ecosystems.
Insights for family offices on investment and tax strategies, risk management, and operational considerations in the face of the pandemic.
Prudent payment integrity assessments and analysis of financial processes help family offices reduce risk and streamline financial reporting
The final regulations address the treatment of administration expenses and excess deductions on termination of an estate or trust.
These FAQs help family offices take a look at document management and retention practices, policies, technology systems and procedures.
Join our professionals as they discuss November’s presidential election, tax planning opportunities and the potential changes ahead.
Former Vice President Joe Biden’s tax plan features significant changes. Rates seem likely to rise, even if President Trump wins re-election
The United States’ fiscal response to the pandemic and the upcoming federal election signal tax rate increases and a need for planning.
Taxpayers often struggle to quantify participation for the passive activity rules. A recent court decision may affect those calculations.
These Frequently Asked Questions will help you understand the stock options you have been granted and their tax consequences.
Data-driven economic insights and outlooks for a variety of family offices provided by RSM US LLP senior analysts.
Recent memo provides IRS view that certain stockless contributions create a split holding period on the stock.
Volatility and uncertainty in the markets create an unprecedented opportunity to transfer carried interests at low tax cost.
The previous June 30 deadline to carryback 2018 NOLs on Form 1139 and Form 1045 has been extended to July 15.
RSM is pleased to provide a series of webcast discussions that will drill into the operational planning perspective family offices now face.
Notice 2020-51 affords welcome additional flexibility for individuals to deal with required minimum distributions they took in 2020.
Recently issued final section 199A regulations clarify the treatment of suspended losses and provide guidance on certain RIC dividends.
The shift toward remote work is an opportunity for family offices to upgrade technological systems by adopting outsourcing and automation.
How family offices can maximize tax deductions and estate planning objectives during the economic downturn caused by the coronavirus.
The IRS announced the addition of 2019 Form 1040X to the library of electronic filings beginning this summer.
A handy, easy to follow playbook for the stay at home athlete who wants to keep their financial house in order.
As the Main Street Lending program rolls out, family offices that are eligible must consider pitfalls of borrowing one.
Proposed regulations provide guidance on treatment of administration expenses and treatment of excess deductions in the year of termination.
The IRS updated the Economic Impact Payment FAQ to include guidance for returning payments made to deceased taxpayers.
The CARES Act includes beneficial tax relief. Coupled with sophisticated planning, now is the time to revisit your individual tax strategy.
The IRS provided additional guidance regarding fax submissions of tentative carryback claims, Forms 1139 and 1045.
Congress authorizes additional $310 billion for PPP; SBA issues additional eligibility guidance for hedge funds and private equity.
The ability to revoke elections and file amended returns means partnership may have more than one option to benefit from CARES Act.
The economic impact of COVID-19 is immense. Distressed companies in need of capital may drive future M&A deals.
Procedures provide guidance for the retroactive expensing of qualified improvement property and reconsidering of elections.
Additional guidance was provided by IRS regarding fax submissions of Form 1139 and Form 1045 filings just before the April 17 start date.
After you have protected your company, people and customers, you will need to start assess where your business will be after the pandemic.
Some individuals who took RMDs this year before they were waived by the CARES Act have more than 60 days to roll the RMDs back in.
Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.
In response to the COVID-19 pandemic, the IRS is encouraging taxpayers to fax – rather than mail – Form 1139 and Form 1045 filings.
Notice 2020-23 postpones the due date for Form 5500 (Annual Return/Report for Employer Plans) filings for some plans.
The five-year carryback rule applies to insurance companies, both life and non-life, although both categories are singled out in the Act.
Notice 2020-23 provides corporate filers with guidance on extended filing and payment dates, with additional specifics and clarifications.
Recent guidance provides that certain deadlines, including the allowable time to invest in a QOF, are now extended because of COVID-19.
Investors looking to accelerate write-offs on investments should be aware of an obscure section 382 rule that could destroy the tax-shield.
The IRS issued Notice 2020-23 granting broad filing and payment relief to most taxpayers including individuals, estates and trusts.
As businesses renegotiate debts in the aftermath of COVID-19, it is critical to understand whether the debt is considered publicly traded.
Motivated by the tax relief provisions of the CARES Act, the IRS is allowing all partnerships to file 2018 and 2019 amended returns.
Employer social security payroll tax payment deferral for taxes incurred from March 27th through Dec. 31, 2020.
The new law intends to help Main Street businesses. Some family offices might be classified as a small business and eligible for loans.
The IRS recently issued 66 FAQs addressing payroll tax credits for COVID-19-related paid family and sick leave.
The Department of Labor has issued updated questions and answers regarding paid leave for employees impacted by COVID-19.
Accelerating worthless stock deductions on an insolvent subsidiary without disposing of the business to increase NOL carrybacks.
COVID-19 has caused many businesses to be concerned about short-term liquidity. New federal programs aim to help payroll, operating costs.
SBA issues interim final PPP guidance for lenders and borrowers at 6:47pm day before loan program is set to begin.
The CARES Act provides business and tax relief to portfolio companies and investors. However, affiliation rules could limit SBA loan relief.
Basic questions answered to help taxpayers interpret and claim the Employee Retention Tax Credit of the CARES Act.
Employees working remotely due to the COVID-19 pandemic may result in income tax consequences to both the employee and the employer.
Job losses and hardships have some investors tapping into employer-sponsored retirement savings. Learn what questions you may face.
State and local tax filing and penalty relief guidance in response to COVID-19 has accelerated as deadlines approach.
IRS grants limited penalty relief for failure to deposit and pay employment taxes pursuant to the Families First Act and CARES Act.
Examples of tax-free payments under section 139 that employers may provide employee affected by the COVID-19 pandemic.
Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.
Employers should review retirement plan provisions for employee assistance and cash saving opportunities in response to economic conditions.
IRS to temporarily accept scanned or digital signatures and will electronically share certain documents via Email.
State and local tax opportunities are available for restaurants for cash flow maximization and support during the pandemic.
Law firms and professional services businesses are experiencing challenges with the COVID-19 pandemic, creating state and local tax issues.
The IRS issued guidance permitting an automatic extension for gift and GST tax filings and payments until July 15th
Act contains broad relief for individuals and businesses; includes funding vehicles, recovery payments, and modifications to TCJA provisions
Today, the House of Representatives passed the CARES Act on a voice vote and the President signed the bill enacting it into law.
The LB&I Division of the IRS announced that it would suspend the enforcement of information requests sent during audits.
Join us on Friday, March 27, when RSM tax professionals examine critical tax relief issues related to the COVID-19 pandemic.
CARES Act provides general increase to the limitation amount (i.e., the maximum allowable deduction) and special rule for partnerships
Proper tax planning in a workout or restructuring is necessary to provide valuable tax attributes to the restructured business.
Mandatory paid leave for employees impacted by COVID-19 is set to start April 1, 2020, per new Department of Labor guidance.
As part of the COVID-19 effort, IRS temporarily adjusts and suspends key compliance program April 1, 2020- July 15, 2020
During a debt workout or restructuring, it is critical that businesses evaluate their restructuring options and the related tax impact.
Coronavirus Aid, Relief and Economic Security Act provides liquidity by providing five-year NOL carryback and other help for corporations.
Widespread availability of credits and economic incentives during the COVID-19 pandemic may help businesses increase cash flow.
The IRS has implemented staff reductions and closed taxpayer assistance centers, which could affect mission-critical operations.
Federal income tax filing and payment relief extension to July 15, 2020 may not apply to all state income tax filings.
The conditions that cause uncertainty today create opportunities to transfer wealth to the next generations at historically low tax cost
The IRS issued Notice 2020-18 which supersedes Notice 2020-17 and provides income tax filing and payment relief to affected taxpayers.
Questions surround new tax legislation in response to COVID-19. RSM’s Tax Policy Now examines extended deadlines, paid leave and cash flow.
On March 19, the U.S. Senate released the third round of emergency assistance resulting from the 2020 COVID-19 pandemic.
Limited sales and use tax filing and payment relief has been included in some of the state and local COVID-19 response guidance.
Congress passes the Families First Coronavirus Response Act that mandates paid leave for employees impacted by COVID-19.
As the human and economic toll of coronavirus mounts, no sector of the economy has been immune from a downturn, including family offices.
In this podcast, learn what provisions of the SECURE Act are likely to affect your financial, tax and estate plans.
Learn why exiting one’s business is not just about when you are ready. Watching market conditions often leads to an optimal divestiture.
Rev. Proc. 2020-17 grants information reporting and penalty relief to individuals with respect to applicable tax-favored foreign trusts
QOZ funds, operating businesses and private investors should understand the practical application of the final QOZ regulations.
Advisor must document amounts used to “investigate” an actual buy or sell – a study may make sense if amounts are substantial.
In early September, Mexico released a proposed tax reform package with significant changes in the country’s international tax regime.
If adopted, the accredited investor definition will be a test family office investors will need to pass before investing in private markets.
Massachusetts rejects change in domicile after Florida home purchase, driver’s license change and new voter registration.
Fund management companies face difficult challenges in determining their state income tax filing obligations and apportionment rules.
Individuals and their advisors need to be familiar with the various IRA tips and traps to avoid negative consequences.
When employing family members, it’s best to follow set hiring policies to help ensure success. Learn how to avoid generational failure.
Learn about the tax opportunities and challenges facing private equity and hedge fund owners which should be revisited in 2020.
It should be easy to know where you live, but for state personal income tax purposes, the question becomes “where are you domiciled?”
RSM's virtual summit on transformative tax issues facing the middle market is available as an on-demand webcast.
The Act’s significant implications for individuals’ retirement and estate planning suggests that they consult with their advisors…now
New tax laws and industry trends create planning opportunities for fund owners and management firms in the year ahead.
Some hedge fund managers are making the move to restructure their wealth as a family office; however, there are key areas to consider.
With the NCAA opening the door to name, image and likeness compensation, there are several key considerations for schools and athletes.
IRS confirms that gifts between 2018 and 2025 will be covered by the exemption then in place and not in the year of death.
Join RSM to learn about regulatory changes on the horizon that could impact insurance company risk analysis and investment decisions.
The IRS released Revenue Procedure 2019-44 listing the inflation adjustments for individual, trust and estates.
The IRS issues proposed regulations to update the life expectancy tables to reflect current, longer life expectancy rates.
The IRS publishes applicable annual limitations and maximums for retirement plans, resulting in small increases for 2020.
All companies seeking QI, WP, or WT status for 2019 must apply by Nov. 15, 2019 to have an agreement in effect.
The IRS has published a long-awaited practice unit as guidance for examinations of electronic books and records under section 1441.
From taxation complexity to understanding cyberthreats, what are today’s top five concerns for family offices?
The amount of wealth managed by family offices continues to grow as more families sell out their founding businesses.
The second round of Qualified Opportunity Zone regulations may spur taxpayer confidence and financial implications will drive investment.
In PLR 201930011, the Service rules that it is OK to “go your own way” without tax penalty in a textbook split-up.
Exploring ways to incorporate qualified opportunity fund investments into your overall estate and gift tax plan.
The IRS has begun sending over 10,000 letters to certain taxpayers advising them to report virtual currency transactions.
Get key tips for bringing the next generation into the family business. These lessons learned can help propel the enterprise.
High court allows Minnesota Supreme Court decision finding so-called “grantor-domicile” rule unconstitutional to stand.
Highly-anticipated trust taxation case considers whether a state can tax a trust based on the residency of a beneficiary.
Rules clarify how S corporation income allocated to an ESBT will be taxed when a trust beneficiary is a nonresident alien.
Specially designated districts designed to fuel economic growth where development has been stagnant offer investors tax-saving options.
Favorable estate planning rules in place to 2026 would be less so in 2021 under some Democrats’ proposals. Time to consider the what ifs?
Alleviate the stress of your business sale or transition by addressing 10 key missteps many business owners make.
Justices express concern over North Carolina’s tax on the undistributed trust income earned for the benefit of a resident.
The new Qualified Opportunity Zone regulations answer many questions that favor taxpayers, though some questions remain.
The IRS released Rev. Rul. 2019-11 regarding the tax treatment of state and local tax refunds.
Tax considerations and planning tips for taxpayers undergoing a stock or asset sale with payments contingent on both earn-out and employment
Tax highlights for life sciences companies as you prepare for year-end filing and a look ahead to prepare for 2019.
High court to decide whether in-state beneficiary of nonresident trust is sufficient for the Due Process Clause.
The IRS has expanded its voluntary IP PIN program to taxpayers residing in seven additional states.
Master service and related agreements raise ownership questions as well as question as to qualification under secs. 199A and 1202.
The filing instructions released earlier this month for Forms 706 and 709 indicated a change in the mailing address.
What is the secret to a successful business succession and transition for owners? It starts with a sound plan.
Knowing that there will be no loss of the benefit of using the higher exemption before 2026, we consider some ways and means of using it.
The Token Taxonomy Act would exempt many virtual currency exchanges from taxation and would require virtual currency reporting.
Proposed regulations confirm that tax-free gifts made between 2018-2025 will not end up being taxable after 2025.
Proposed rules address many open issues and would prescribe complex calculations for taxpayers deducting business interest expense.
In a speech to the AICPA, the new IRS Commissioner Charles Rettig warns of increased crypto currency tax enforcement.
Private client services year-end webcast; a review of tax legislative changes, and what to consider by year-end.
The Tax Section of the State Bar of Texas addresses fiduciary income tax concerns in a comment letter on the proposed 199A regulations.
This article addresses the intersection of the U.S. tax code as applied to houses, boats, and now fractional boat memberships.
Court treats extension of contracts as an exchange of each contract and a constructive sale of underlying stock, large liability results.
Tax Court finds that PFIC gains are not included in current-year gross income and losses from PFIC shares do not offset gains.
Learn the key ownership and business readiness steps taken to successfully transition this family business from generation to generation.
Proposed regulations curtail state laws that circumvent the SALT deduction cap by crediting charitable contributions against state taxes.
Good news and bad news…ESBTs qualify for the section 199A deduction but anti-abuse provisions would curtail use of multiple trusts.
This article explores the parties involved and decision-making processes that occur when an ESOP owns a portion, or all, of a corporation.
Estate planning strategies to help minimize future estate, gift and generation-skipping taxes for estates in excess of the exemption.
Business owners need to consider the impact tax reform has on the benefits of retirement plan contributions.
IRS warns taxpayers that federal law controls the characterization of payments made in exchange for state and local tax deductions.
A practical look at how individuals can understand the impact of TCJA on their planning and what steps they might consider in response.
Notice requires calculation of recognized built-in gain or loss without regard to section 168(k) for ownership changes after May 8.
IRS Field Attorney Advice denies domestic parent’s deductions for amortization of brand intangibles purchased from a foreign subsidiary.
The 60 percent of adjusted gross income limit for charitable gifts of cash may not be available to donors who diversify their major giving.
An analysis of moving from pass-through to C corporation must consider the implications of conversion on the owner’s estate planning.
Two months after TCJA became law, we can now calibrate the outer limits of 2018 wealth transfers with precision, not approximation.
Lender Management, LLC versus Commissioner court case coupled with the 2017 Tax Act have family offices revisiting how they are structured.
The IRS will not process 2017 individual tax returns without health insurance information as ACA penalties still apply for 2017.
New provisions enacted through tax reform become effective for tax years 2018 through 2025; lower total indebtedness cap to $750,000.
An uptick in key interest rates suggests that now is the time to take advantage of the planning opportunities created by the new tax law.
Learn how the recent tax reform affects executives, founders and general partners of alternative investment fund structures.
The tax savings opportunities permitted to operators of privately owned and operated aircraft has been significantly reduced.
The Tax Cuts and Jobs Act has far-reaching implications for individuals’ income, estate and financial planning.
As the tax reform provisions roll out, deal teams have additional tax attribute facets to consider when acquiring or exiting an investment.
Learn how a comprehensive business plan helps company leaders define long-term objectives and the steps to take to achieve them.
Potential donors are constantly inundated with requests for support from nonprofit organizations. How does your organization standout?
Tax reform has been signed into law. Read RSM’s summary of the major business, international and individual tax provisions.
Listen and learn from this recorded webcast which explored the tax consequences of general partner restructurings.
Successful succession planning requires discipline. RSM business succession professionals share tips building a team and transition tips.
Senate Republicans propose to liberalize their pass-through tax proposal, helping middle-income professionals and service businesses.
Given the complexities of selling a business, the situations under which it doesn’t make sense to work with an investment banker are few.
Mezzanine recapitalization may provide a capital raising option for middle market businesses, but there are key conditions to consider.
Review legislative changes and other tax concerns that affect 2017 tax compliance and how to plan for 2018. Download our guide.
Treasury says that it will withdraw the proposed 2704 regulations in their entirety, clearly noting their fatal lack of clarity.
Learn how assessing your business’ structure, planning and communication channels can realign you for a more strategic and strong future.
Repealing the estate tax but keeping the gift tax will complicate wealth transfer planning. But there are ways to avoid big mistakes.
An incomplete Form 8283 combined with a gross valuation misstatement resulted in a denied charitable deduction and assessment of penalties.
Learn how to view the value of your business through the eyes of a buyer and what you can do today to plan for a successful transaction.
Rev. Proc. 2017-34 makes it easier (and cheaper) to obtain an extension to elect portability of decedent spouse’s unused exclusion.
Our presenter shares how to optimally work with your advisors on some of the more unfamiliar pitfalls and risk areas in estate planning.
RSM’s Guide to Bond Premium and Market Discount addresses key rules impacting bond holders’ U.S. federal income tax position.
Understand how RSM’s FAO team delivers customized, scalable finance and accounting solutions to increase efficiency and financial insights.
Individuals who would like to explore how to cover the cost of long-term care can set the agenda for a productive discussion with an agent.
Taxpayer recognized no gain when its obligation to deliver shares was delayed; application of decision to other contracts may be limited.
Requesting relief through a late election will ensure an individual's generation-skipping transfer (GST) exemption is allocated correctly.
Key exception enables executors and families to transact with private foundations without triggering penalties.
When entering the U.S. tax system through investment or relocation, a nonresident faces unique tax reporting and filing obligations.
This webcast examined risk management strategies designed to help preserve your wealth for future generations.
This slight reprieve in the upward trend of rates keeps the window open for wealth transfer on a gift tax-efficient basis.
The Sixth Circuit disagreed with the IRS using substance over form to recharacterize DISC dividends as excess Roth IRA contributions.
With the estate tax part of a larger picture in flux, those who part with their capital today may experience not-so-sweet sorrow tomorrow.
Family offices can streamline operations to gain efficiency across many strategic areas, including tax planning, accounting and bill pay.
Planning for and managing through a business succession means thoughtfully and objectively answering three important questions. Learn more.
Repeal of the estate tax would have immediate impact on the fundamental components of a business owner’s succession plan.
When it comes to estate planning, GPs would be wise to consider gifting the ownership of carried interest, and getting it properly valued.
RSM leveraged several services to provide hedge fund employees with a solution for individual financial, accounting and family office needs.
IRS clarifies definition of spouse, husband and wife, and marriage for federal income, gift, estate and employment tax purposes.
Get a quick summary of our recent webcast exploring three options a business owner can consider when selling their business.
The IRS ruled that disproportionate distributions resulting from incorrect ownership information did not terminate subchapter S status.
Important disclosure rules of which a tax-exempt organization’s management and board of directors need to be aware.
A review is provided of the regulations and best practices for foreign operations of U.S.-based public charities.
Recently proposed regulations have renewed discussions regarding the IRS position that a partner in a partnership cannot also be an employee of ...
For estate tax purposes, individuals often establish living or ‘grantor’ trusts to hold their assets. Although the assets are held in trust, the ...
Pension max is often offered to individuals as a way for couples to more affordably manage life insurance expense. But as with many financial ...
Tax planning opportunities are available when gifting artwork; however, for donors who don’t do their homework, surprising results can occur.
Understand the U.S. income, gift and estate tax exposures of immigrating to the United States
The estate, gift and income tax consequences of a marriage dissoultuion.
Partnerships that treat partners as W-2 employees may need to reassess their tax positions, including their employee benefit plans.
Family offices are at an acute risk for data breaches; learn more about the potential dangers and how to protect your environment.
The U.S. Tax Court has restated the ground rules for what is required to use a family limited partnership to transfer wealth from an estate. The ...
Family offices can strengthen backup processes and increase efficiency and scalability by implementing finance and accounting outsourcing.
Americans believe corporations and the top one percent pay disproportionately low taxes. Learn the truth about who pays what.
Understand the risks associated with valuing carried interest transfers and interest income valuation for transferring carried interests.
RSM succession and estate planning strategies manage a family’s complex estate plan, helping to reach their short and long-term financial goals.
Taxpayers cannot avoid the Roth IRA contribution limitations by transferring amounts to a business owned by the Roth IRA.
Two tax court cases remind individuals to be careful in the management of their self-directed individual retirement accounts (IRAs).
The RSM Middle Market Leadership Council survey highlights succession planning’s vital role for middle market businesses.
In a recent case out of Washington state, the IRS challenged the nontax purpose for the creation of a family limited liability company (LLC) and ...
Mark Zuckerberg, the 31-year-old co-founder of Facebook and billionaire, and his spouse, Priscilla Chan, pledged recently to donate 99 percent of ...
PATH Act increases the allowable deduction for captive insurance companies but adds restrictions on ownership.
Proposed regulations set forth the taxation of recipients of gifts and bequests made from expatriates who terminated U.S. citizenship or residency.
The IRS has been defending its interpretation of section 67(e) for decades. Fiduciaries and tax preparers must now implement the 2014 final ...
Family attribution rules can cause complete corporate redemptions to be characterized as dividend distributions rather than exchanges.
Appeals decision provides opportunity to apply valuation discounts to artwork and collectibles, with an important caveat–plan carefully!
Strategies to consider to meet your personal objectives without succumbing to frequently overlooked planning traps.
Trust advisors and beneficiaries are embracing state decanting statutes as a way to repair and improve old trusts.
Taxpayers who intend for their children and grandchildren to benefit from their IRAs should consider setting up a trust to hold their retirement ...
An Illinois appellate court rules resident trust classification of decanted Illinois trust violates the due process clause of the U.S. Constitution.
Whether you e-file your tax return or have your accountant file it, rejection code 902 could indicate potential identity theft.
Limitations on Using the Tax Research Credit.
As collegiate athletics evolves, RSM is helping colleges and universities be proactive in reducing risk and enhancing compliance processes.
When selling your company, your employees may be the ideal buyer. Learn how ESOPs work within the frame of business succession strategies.
ESOPs are a unique tool that can be valuable to selling shareholders, corporations and employees in a corporate succession plan.
A governance strategy allows for formalized decision-making in the family office. Learn why governance is essential.
Find out how to unlock your data to maximize the value of your tax compliance function, plus hear answers to frequently asked questions.
Equity compensation plans may alleviate concerns that closely held business owners have during transition planning.
With proper foresight, closely held business owners can use multiple tools to address various goals when exiting from the business.
Business owners who work for the company may facilitate an ownership transition by separating service payments from company value.
The ownership structure and tax treatment of partnerships call for unique compensatory devices when designing a succession plan.
Contact an RSM family office professional to learn more about asset or risk management, financial planning, tax, accounting and more.
RSM’s Family Office Services team is here to advise, serve and complement your company. Learn more about how we can help.
Learn what family offices should weigh when it comes to restructuring. Tax and sustainability considerations are key.
Learn about the importance of family office governance and why it’s key for today’s complex, multi-faceted family office structure.
RSM professionals share how tax reform affects family offices. Key concerns: succession planning, entity choices and state and local tax.
Watch this brief video to understand the important questions to weigh as well as key tax considerations when creating your family office.
Save time with automated processes and superior multi-entity management and deliver clear guidance with customized reports and insights
Center for Business advisors follow a disciplined process to help ensure business transition decisions are guided by facts and objectivity.
Less commonly considered succession planning tools can tackle the challenge of a limited market of buyers for a closely held business.
Gain control of your business succession planning. Establish initial goals, focus on core actions, plan today to minimize conflict tomorrow.
Owner readiness is crucial to successful business succession, but many struggle with this first step. Read more on succession planning goals.
Business succession planning requires introspection and practical action. What should you consider when planning to sell your business?
Business succession financial planning requires introspection. You must quantify core capital needs and define estate and charitable goals.
Leading family through a successful family business transition is often emotional. Consider these issues in your succession planning.
With the Tax Cuts and Jobs Act signed into law in December, learn what key provisions may impact your tax situation.
Businesses feeling the economic distress of COVID-19 should consider how to maximize cash flow and stay current with state tax