Tax Reform: Which Changes Are Temporary vs. Permanent?

October 15, 2018 | Exemptions, IRS Regulation, Tax Planning

There are a number of important tax changes for individuals and businesses in the Tax Cuts and Jobs Act (TCJA). It can be hard to keep track of which changes are permanent and which are scheduled to expire at the end of 2025 without Congress extending them. Here is a cheat sheet of which changes  Continue Reading »

Proxy Gave ‘Fair’ Summary of Valuation Work, Chancery Says

October 10, 2018 | Court Rulings, Valuations

In re Merge Healthcare Inc., Stockholders Litig. Several decisions in the Delaware Court of Chancery have focused on the use of the business judgment rule to defeat breach of fiduciary duty claims. Under the rule, the court does not second-guess a deal where a majority of disinterested, informed shareholders approved the transaction. In the most  Continue Reading »

Employers: Consider Telemedicine and Make Sure Employees Use It

October 3, 2018 | Uncategorized

The ways medical professionals and patients interact continues to change thanks to telemedicine. Your Maine-based company may already have telemedicine available, and it’s a benefit to both you and your employees. Nearly three-quarters of employers with at least 500 workers said they make telemedicine services available, according to a survey by the Mercer consulting firm.  Continue Reading »

Tax-Exempt Organizations: IRS Provides Guidance on New UBTI Rule

September 26, 2018 | Tax Planning

More guidance has been issued by the IRS in regards to the Tax Cuts and Jobs Act (TCJA), signed into law in December 2017. This time the topic is the calculation of unrelated business taxable income (UBTI) for tax-exempt organizations and any separate trade or business they operate. This change will generally apply to tax  Continue Reading »

New Law, New Limit on Deductions for Business Interest Expense

September 24, 2018 | Tax Planning

The Tax Cuts and Jobs Act (TCJA) sets a new limit on deductions for business interest expense. This is a permanent change for tax years beginning in 2018 with no end date. Will your Maine business be affected? Here’s what you need to know. How Have the Rules Changed? Previously, some corporations were subject to  Continue Reading »

No ‘Circular Reasoning’ in Expert’s Lost Profits Calculation

September 21, 2018 | Court Rulings

Packgen v. Berry Plastics Corp. (Packgen II) In appealing a multimillion-dollar lost profits award, the defendants contended the expert failed to show causation, used an unjustifiably long loss period, and relied on scanty historical data to calculate damages. Although aware of weaknesses in the testimony, the appeals court considered the opinion admissible under Daubert as  Continue Reading »

New Jersey Ruling Cements Use of DLOM to Sanction Oppressing Shareholder

September 17, 2018 | Court Rulings

Parker v. Parker You may remember the Wisniewski v. Walsh case, in which the court used the marketability discount to punish bad behavior. A trial court decision in a forced buyout follows the same approach. The oppressor had created an “extraordinary circumstance which requires this court to apply a marketability discount” in order to achieve  Continue Reading »

When Is Service Business Income Eligible for the New QBI Deduction?

September 14, 2018 | IRS Regulation, Tax Planning

The IRS has issued much-anticipated regulations regarding the new deduction of up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction is a major piece of the Tax Cuts and Jobs Act signed into law in December 2017. The deduction will be available to eligible owners of pass-through entities for tax  Continue Reading »

Gen Z May Change How You Manage Employees

September 13, 2018 | Uncategorized

Is your company ready for Generation Z? Demographers and generation-focused marketing experts have begun talking about some of the differences they see in Gen Z, the newest group to enter the job applicant pool. There is no current consensus on the start of this generation—the dividing line between Millenials and Gen Z may be as  Continue Reading »

What’s Next for State Tax Nexus?

September 10, 2018 | Court Rulings

The recent Wayfair decision by the U.S. Supreme Court has had a major impact on states that want to collect sales and use taxes. Before this case, economic “nexus” for tax purposes was established only if the seller of goods or services exhibited a “physical presence” in the state. After Wayfair, sales and use tax  Continue Reading »