Library

Real Estate Advisor, February 2010

Marks Paneth & Shron has published the latest issue of Real Estate Advisor. Click below for the February issue.

Anti-Money Laundering Measures and Tax Fraud Enquiries, David Gannaway, 2010-01-26

It is often the case that cases of money laundering and tax fraud seem to rise during a downturn. This economic downturn is no exception, and has led to a surge in white collar crime. However, pinning the rise to a single factor is difficult to justify, and unlikely to be correct – ultimately, there are myriad drivers.

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Revenue Recovery: Lease Audits Can Reveal Hidden Income Potential, Susan H. Nadler, 2010-01-20

With the commercial real estate industry still in an economic tailspin, now is the time for property owners to look at their existing portfolios and monetize any untapped opportunities.

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Nonprofit Agendas, January 2010

Marks Paneth & Shron has published the latest issue of Nonprofit Agendas. Click below for the January issue.

Real Estate Advisor, December 2009

Marks Paneth & Shron has published the latest issue of Real Estate Advisor. Click below for the December issue.

Nonprofit Alert: New Update from Office of the Medicaid Inspector General (OMIG) Tightens Compliance Requirements for All Organizations Reliant on Medicaid Reimbursements, Michael L. McNee, Eric A. Marks, 2009-11-23

As of October 1, 2009, The Office of the Medicaid Inspector General (OMIG) now requires all organizations that rely on Medicaid reimbursements to ensure that all persons, providers and affiliates providing care, services or supplies under Medicaid be in good standing and eligible to receive payment.

Wealth management for high net worth individuals, Daniel Kesner, 2009-11-16

As the financial crisis took hold, high net worth individuals (HNWIs) watched their wealth decline and quickly lost faith in their wealth managers. Many withdrew assets or left their wealth management firms altogether. But as the economy improves, wealth management firms are seeking ways to alter their business models and provide a better service to their increasingly risk-averse clients, who are demanding more transparency on how their fortunes are managed.

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2009-2010 Tax Planning Guide

Marks Paneth & Shron has published the 2009-2010 Tax Planning Guide, which provides information on a variety of topics including estate planning and gift tax, retirement planning, dealing with capital losses, alternative minimum tax, education tax credits and 2009 corporate and individual tax rates. Click below for the publication.

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Nonprofit Agendas, November 2009

Marks Paneth & Shron has published the latest issue of Nonprofit Agendas. Click below for the November issue.

Fresh-Start Reporting: An Additional Challenge for Bankruptcy Counsel, John M. Bonora, 2009-11-01

Emergence from bankruptcy presents a series of challenges for debtor companies, their creditors and counsel for all interested parties. One of the most significant challenges is financial reporting.

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Real Estate Advisor, November 2009

Marks Paneth & Shron has published the latest issue of Real Estate Advisor. Click below for the November issue.

Nonprofit Agendas, September 2009

Marks Paneth & Shron has published the latest issue of Nonprofit Agendas. Click below for the September issue.

Tax Litigation Risk Increases for High Net Worth Individuals, David Gannaway, 2009-09-10

Federal tax authorities are on the hunt. Their sights are trained in particular in three categories of tax payers: sole proprietors, officers of closely-held businesses and high net worth individuals.

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IRS Targets Offshore Bank Accounts: Taxpayers Need Professional Guidance on Quick, Complete Disclosure, David Gannaway, 2009-09-03

To many, tax management is imperative. But one approach – offshore banking – has recently caught the attention of policymakers. The misuse of offshore bank accounts now, more than ever, has the potential to land tens of thousands of Americans in some very hot water.

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Fresh-Start Reporting: An Opportunity for Debtor Companies Emerging from Bankruptcy Strategist, John M. Bonora, 2009-08-10

Business bankruptcies are surging. That fact is unsurprising given that we are in the midst of the worst economic crisis since the Great Depression, but the numbers are still startling.

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Real Estate Advisor, August 2009

Marks Paneth & Shron has published the latest issue of Real Estate Advisor. Click below for the August issue.

Revenue Maximization Checklist, Susan H. Nadler, 2009-07-23

The Real Estate Group at Marks Paneth & Shron LLP (MP&S) has developed a Revenue Maximization Checklist to help property owners ask the right questions and gain maximum benefit from existing lease provisions. A well designed audit of procedures surrounding property accounting such as billing, collections, lease abstracts and lease audits conducted by accountants deeply versed in commercial real estate can turn up unanticipated revenue opportunities and help ensure that property portfolios are yielding maximum returns.

Nonprofit Agendas, July 2009

Marks Paneth & Shron has published the latest issue of Nonprofit Agendas. Click below for the July issue.

Location: A Taxing Choice For New Businesses, Solomon Packer, 2009-06-25

Given the raft of issues involved in launching a new business in the U.S., it should come as no surprise that the question of where the new legal entity should be formed is often given short shrift, when it is considered at all.

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Nonprofit Alert: United States Investors in Offshore Hedge Funds Should Consider Filing the Report of Foreign Bank and Financial Accounts (FBAR), Robert Lyons, 2009-06-23

TD F 90-22.1 is required to be filed for all accounts where a U.S. person or entity has a financial interest or signature authority in foreign financial accounts if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year. These relationships are reported on the calendar year by filing Form TD F 90-22.1 with the Department of the Treasury on or before June 30, of the succeeding year.

On June 12, three IRS personnel participated in a teleconference with a law firm that was designed to address open questions regarding the TDF 90-22.1 filing for calendar year 2008 that must be filed by June 30. It was their position (not official IRS position at this point) that an offshore hedge fund is a “foreign financial account” for this purposes and that, therefore, every U.S. investor in an offshore hedge fund should file a TDF 90-22.1 Form, whether or not the fund has any offshore bank or securities accounts. While the IRS’s position on hedge funds is not official, it does carry substantial weight and should be considered.

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Nonprofit Agendas, June 2009

Marks Paneth & Shron has published the latest issue of Nonprofit Agendas. Click below for the June issue.

Controlling Real-World Risks of Mark-to-Market Valuation, Steven L. Henning, 2009-06-01

In an article recently published in Accounting Today, Steve Henning, the partner-in-charge of the Marks Paneth & Shron Litigation and Corporate financial Advisory Services Group urges companies and financial executives to take a hard, skeptical look at their balance sheets for assets that may be portraying false, overly optimistic valuations

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Real Estate Advisor, June 2009

Marks Paneth & Shron has published the latest issue of Real Estate Advisor. Click below for the June issue.

Effects of New York's 2009-2010 State Budget, Steven Eliach, 2009-05-28

On April 7, 2009, New York Governor David Paterson signed into law New York State’s Fiscal 2009-10 Budget. The enacted budget agreement closes a two-year $17.7 billion 2009-10 budget gap and reduces the State’s multi-year deficit by an estimated 80 percent from approximately $60 billion to approximately $11 billion.

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Navigating the Recession, Michael Bekas, Steven Eliach, Steven J. Ciavarella, 2009-05-18

The current economic downdraft is a first in many respects. Just a glance at headlines from the fourth quarter of last year reveals a perfect storm of economic trauma whose magnitude is like nothing in recent memory.

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American Recovery and Reinvestment Act of 2009, Steven Eliach, 2009-04-09

The American Recovery and Reinvestment Act of 2009 totals $787 billion. Nearly $300 billion of the bill includes tax relief for individuals and businesses which is outlined in the MP&S alert.

Real Estate Advisor, March 2009

Some topics discussed in this issue include how use of leverage can help increase cash flow, magnify the effects of property appreciation and enhance the tax advantages of owning real estate; strategies to consider when selling investment property to offspring and the tax effect of leases with options to buy.

Nonprofit Agendas, March 2009

Marks Paneth & Shron has published the latest issue of Nonprofit Agendas. Click below for the March issue.

Nonprofit Agendas, February 2009

In this issue, some topics discussed include the fundamental differences between fiscal agents and fiscal sponsors and the pros and cons of working with both; understanding how new accounting standards will affect your nonprofit organization and your role in preparing the New Form 990.

The Future of Accounting Principles, Steven L. Henning, 2009-02-10

The events of the last few months have shed light on accounting principles and the role they might have played in prolonging the current market turmoil. Fair value accounting, in particular, has been accused, by some professionals and officials, of being at least partly responsible for the current financial troubles.

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Real Estate Advisor, February 2009

In this issue, some topics discussed include the advantages of infrastructure investments, the functional and financial benefits of “green” roofs and how real estate professionals can leverage social networking media to help grow business.

Charitable Remainder Unitrusts White Paper, Michael Bekas, 2009-01-01

Michael Bekas, partner in the Tax Group, has authored a white paper entitled "Charitable Remainder Unitrusts: A Must-Consider Wealth Maximization Vehicle for Owners of Hard Assets." In light of a favorable estate planning environment due to current low rates and values, the paper explores how when structured properly, Charitable Remainder Unitrusts (CRUTs) can create wealth optimization for clients, their heirs and charities.

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Real Estate Advisor, December 2008

In this issue, some topics discussed include calculating property tax assessments, new incentives aimed at commercial building owners for installing solar power sources and when to apply the rules of reverse exchange in swapping one real estate investment for another.

Nonprofit Agendas, December 2008

In this issue, some topics discussed include when it is and is not appropriate to accept gift donations, understanding the tax consequences of alternative investments and the importance of directors and officers (D&O) liability insurance.

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2008-2009 Tax Planning Guide

In these challenging times, it has never been more important to work with knowledgeable, experienced advisors who truly understand the tax laws and regulations and who can offer planning strategies customized to meet your specific needs.

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Real Estate Advisor, September/October 2008

In this issue, some topics discussed include tax strategies to implement now for 2009, what lenders are looking for in land investments, how building information modeling (BIM) can benefit building owners and how investing in real estate owned properties (REO) can pay off.

MP&S Outlines Departure Tax in Recent Article, Solomon Packer, 2008-09-04

Solomon Packer, senior MP&S international tax consultant, publishes Corporate Business Taxation Monthly article on the recently enacted U.S. departure tax, which taxes built-in gains in excess of $600,000 from assets owned by “covered” expatriating U.S. citizens and long-term residents who relinquish their green cards.

Marks Paneth & Shron Nonprofit Group Authors Alert on Campaign Intervention, Michael L. McNee, Robert Lyons, 2008-09-01

During election years, the Internal Revenue Service takes a keen interest in whether charitable (501(c)(3)) organizations are intervening in political activities. This is particularly relevant in Presidential campaign years. One common characteristic to most charitable organizations is a passion about their respective causes.

Nonprofit Agendas, September 2008

In this issue, some topics discussed include how federal and state bodies shape nonprofit policies, upcoming compliance dates for 403(b) retirement plans, limits placed on lobbying activities according to the IRS, and recent IRS changes to the application process for exempt status.

Marks Paneth & Shron Nonprofit Group Authors Alert on Alternative Investment, Michael L. McNee, Robert Lyons, 2008-08-01

The most recent MP&S Nonprofit and Government Group Alert discusses the tax implications that apply to common alternative investments made by exempt organizations, as well as the reporting requirements and questions organizations should consider before making investment decisions.

Real Estate Advisor, July/August 2008

In this issue, some topics discussed include how the residential remodeling guidelines released by the American Society of Interior Designers Foundation and the U.S. Green Building Council will benefit remodelers and the real estate segments that continue to show promise in the current economic climate.

Property and Casualty Insurance Solutions for Entity Owners, June 2008

An increasing number of Americans are transferring personal ownership of residential property to trusts, limited liability corporations (LLC), limited liability partnerships (LLP), and other entities designed to protect assets or take advantage of favorable tax treatment.

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Marks Paneth & Shron LLP Nonprofit Alert, June 2008, Michael L. McNee, Robert Lyons, 2008-06-01

On May 5, 2004 IRS issued Letter Ruling 200435020 in response to a charitable organization’s treatment of certain real estate transactions, credit cards, meals, gasoline, miscellaneous charges and cell phones.

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Real Estate Advisor, May/June 2008

In this issue, some topics discussed include how to increase likelihood of securing a loan, trends in time-share ownership within the resort industry, how the Economic Stimulus Act of 2008 benefits investors and developers, and ways to achieve personal and business financial success by shifting income and deductions.