Archives for Gary M. Edelson
Montgomery McCracken Advises ClimeCo in Growth Equity Financing
February 16, 2021
Montgomery McCracken is pleased to announce its successful representation of ClimeCo, LLC, an advisor, transaction facilitator, and trader of environmental…
Big Fox shareholder urges Rupert Murdoch to overlook his self interest and consider Comcast cash deal
May 25, 2018
The Philadelphia InquirerBy Bob Fernandez
Warning of conflicts of interest within the Murdoch family, a U.K. hedge fund with $5.3 billion in 21st Century Fox…
CRE Questions Unanswered In Treasury Guidance On New Business Interest Deduction Limit
April 11, 2018
GlobeSt.comBy Erika Morphy
The notice does provide some helpful guidance to C Corporations but there are still unanswered questions about commercial real estate…
Why The Tax Law Might Turn Your Lenders Into Investors
January 29, 2018
GlobeSt.comBy Erika Morphy
WASHINGTON, DC–One provision of the Tax Cut and Jobs Act, namely section 163(j), has implications that could turn lenders into…
A C Corp. Or A Pass-Through Entity?
January 23, 2018
GlobeSt.comBy Erika Morphy
WASHINGTON, DC–The Tax Cut and Jobs Act is the biggest change to the US tax code in 30 years. There…
The Many Unknowns In The Tax Bill’s CRE Provisions
January 2, 2018
GlobeSt.comBy Erika Morphy
The Tax Cut and Jobs Act is the biggest change to the US tax code in 30 years. Little wonder,…
Do it now! Tax reform actions that may be taken before Dec. 31
December 18, 2017
Philadelphia Business JournalBy Gary M. Edelson
It’s the holiday season and everyone has plenty of items on their “to do” list. The proposed tax reforms have created…
Montgomery McCracken Assists Client in FBAR Voluntary Disclosure Filing
February 9, 2016
Gary M. Edelson, chair of Montgomery McCracken’s Tax Practice, recently represented a client in the guidance of the IRS’s FBAR…
Tax returns need full disclosure on health coverage
February 1, 2015
NewsdayBy Sheryl Nance-Nash
Accountants are happy, but you may have a look of dread on your face. Tax season is here, and for…
FATCA and Voluntary Disclosure: What You Need to Know
April 15, 2014
Is there an IRS Voluntary Disclosure in you or your family member’s future? The Internal Revenue Service (IRS) may not…
What You Need to Know About Israeli Accounts and the IRS
April 9, 2014
The Jewish ExponentThe Internal Revenue Service has turned its attention to U.S. citizens living in and outside of the United States, with…
Montgomery McCracken Represents Comar, Inc. in Recapitalization with Graham Partners
October 29, 2013
Montgomery McCracken advised Comar, Inc. and its shareholders regarding a recapitalization transaction with private equity firm Graham Partners. The team,…
Increased Estate And Gift Tax Exemption Made Permanent By The American Taxpayer Relief Act
January 17, 2013
On January 2, 2013, President Obama signed the American Taxpayer Relief Act. The income tax provisions of the law have…
New Rules Provide Flexibility in Treatment of Replacement Costs for Building Components
December 18, 2012
Generally, taxpayers are permitted to deduct currently (or “expense”) the cost of repairs to property, but must capitalize the costs…
Time is Dwindling To Take Advantage of $5,120,000 Federal Estate and Gift Tax Exemption
October 1, 2012
Unless Congress and the President act before January 1, 2013 (or retroactively thereafter), as of January 1, 2013 the federal…
What Makes Up the Fiscal Cliff?
September 12, 2012
Much is in the news recently about the Fiscal Cliff. Commentators say the US economy will dive unless Congress reverses…
New Tax on Investment Income Scheduled for 2013
June 27, 2012
In 2010, Congress enacted a new tax on investment income of individuals, estates and trusts that applies beginning in 2013. …
Tax Court Denies Deductions for Contributions of Conservation Easements
May 4, 2012
In several recent cases the United States Tax Court has denied or reduced charitable contribution deductions for contributions of conservation…
IRS Provides Program for Voluntary Reclassification of Independent Contractors as Employees
November 9, 2011
The IRS and employers have dramatically different interests in the classification of workers. From the perspective of potential liability for…
IRS Provides Guidance on Economic Substance Doctrine
August 24, 2011
Penalties apply to transactions without economic substance. In July, the IRS gave direction to its examiners on when they can…
Expanded Form 1099 Reporting Repealed
May 10, 2011
Expanded Form 1099 Reporting Repealed. On April 14, 2011, the President signed into law a repeal of the expanded Form…
Individuals Must Report Foreign Financial Assets
December 23, 2010
Individuals Must Report Foreign Financial Assets Beginning in 2011, any individual who holds an interest in “specified foreign financial assets”…
Client Alert from Tax Practice
October 4, 2010
Codification of Economic Substance Doctrine Brings Increased Penalties for Aggressive Tax Transactions The 20% accuracy related penalty now applies to…
Tax Updates on Health Reform and Foreign Financial Interests
July 29, 2010
High Income Taxpayers Shoulder Burden of Health Reform Beginning in 2013 To pay for the new health reform…