Archives for Gary M. Edelson

Gary M. Edelson

Gary M. Edelson

Partner / Philadelphia

P: 215-772-7264

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 Inquirer
By 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
By 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
By 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
By 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
By 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 Journal
By 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

By 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 Exponent

The 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…