Even though property acquired during marriage is presumed to be community property, for property tax change in ownership purposes the Los Angeles County Property Tax Assessor’s Office believes otherwise. Fortunately, the...more
In CCA 201517006 (dated 10/9/14 and released 4/24/15), the general partner of a publicly traded partnership (PTP) had, in addition to its capital interest, a profits interest in the PTP called “incentive distribution rights”...more
The Supreme Court has agreed to review the Sixth Circuit Court of Appeals decision in United States v. Quality Stores which held that severance payments to involuntarily terminated employees were supplemental unemployment...more
More details of the American Taxpayer Relief Act of 2012, which President Obama signed into law yesterday, January 2, 2013, will be release shortly. But in the meantime, we know from the text of the legislation (HR 8) that...more
Did you sell your business in 2012 and defer any of the purchase price? This could be the case if you financed part of the purchase price (i.e., you took back the buyer’s note), or there was an earnout whereby you receive...more