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  • Tax planning – Dig deep to determine the TCJA’s total impact

    Winter 2018
    Newsletter: Construction Industry Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: The passage of a new tax law in December was intriguing, if not downright exciting, news for most construction company owners. Now that the dust has settled, this article takes a look at some highlights, including reduced tax rates and boosted depreciation deductions. A sidebar points out that some valuable tax breaks, however, have been eliminated or limited.

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  • Updated COSO framework – Will your company’s internal controls make the grade?

    Year End 2013
    Newsletter: Public Company Insights

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: Earlier this year, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) updated its Internal Control — Integrated Framework. The framework is particularly relevant for public companies required by the Sarbanes-Oxley Act to file annual reports on the design and operating effectiveness of their internal controls. This article discusses the five interrelated components of the COSO framework and the enhancements that bring the framework into line with changes that have occurred over the past 20 years. A sidebar lists the 17 principles of effective internal control defined in the updated framework.

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  • Buying or selling a subsidiary? Watch out for the Unified Loss Rule

    June / July 2012
    Newsletter: Public Company Insights

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: Corporate groups that file consolidated tax returns are subject to a complex set of regulations — perhaps none more intricate than the Unified Loss Rule (ULR). The ULR is triggered when a member of a consolidated group sells or otherwise transfers a subsidiary’s stock at a loss. Failing to take the ULR into account when negotiating the sale or acquisition of a subsidiary can lead to unpleasant tax surprises for buyers and sellers alike. This article explains the three-tier approach the URL uses to prevent recognition of noneconomic or duplicate losses, while a sidebar offers an example of how duplicate losses arise.

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  • Any given Sunday – Fourth Circuit makes the call on fair use

    February / March 2011
    Newsletter: Ideas on Intellectual Property Law

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: When an artist’s drawing was “mistakenly” used in the production of a professional football team’s logo during the team’s first seasons, the Fourth Circuit affirmed a jury’s verdict that the artist’s copyright had been infringed. The artist subsequently sought an injunction prohibiting all current uses of the logo and requiring destruction of all items with it, including several highlight films. The defendants claimed fair use. This article discusses the four factors that may be used to determine whether a particular use is fair. Although the court decided in favor of the plaintiff, a sidebar discusses how it ruled differently regarding use of the logo in the team’s headquarters. Bouchat v. Baltimore Ravens Limited Partnership, No. 08-2381, Sept. 2, 2010 (4th Cir.)

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  • Clues abound – The tax return as an investigative tool

    March / April 2010
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: Tax returns can be a highly effective investigative tool in fraud and divorce cases, shareholder litigation, and other situations in which a defendant may have hidden assets. In fact, virtually every page of a tax return can provide clues to hidden assets. Income from wages, taxable refunds of state or local taxes, and retirement plan distributions are just a few of the items on a 1040 that a valuator will review. A sidebar to this article shows how to determine if a tax return is legitimate.

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  • Say what? Subcontractor’s lawsuit turns on verbal change orders

    January / February 2009
    Newsletter: Construction Law Briefing

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: Verbal change orders are commonplace on many construction projects and courts will enforce them — even in the face of a “written changes only” clause in the contract. But when one party tries to abuse the law’s tolerance for verbal approval of changes, a court may strictly enforce the “written changes only” provision. Such was the circumstance in a recent Michigan case.

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  • Private foundations – Retain control over your donated funds — for a price

    May / June 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 919

    Abstract: It used to be that the cost of setting up and operating a private foundation was justified only if you planned to contribute several million dollars. But that cost has dropped dramatically over the years, so this strategy may be worth a look for donors making initial contributions as low as $250,000. Of course, whether a private foundation is right for you depends on your circumstances. This article explores reasons to set up a private foundation and potential pitfalls.

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