Congressional Dysfunction and Its Impact on Taxpayers
Congressional dysfunction is not limited to financial oversight, immigration, energy policy, or health care. It is also abundant in tax policy. Taxpayers are currently facing major challenges in tax planning and so far there is little evidence that Congress will timely resolve them. Read full article here.
Charitable Donations for Haiti Relief Deductible for 2009
Congress has enacted a law that permits taxpayers to deduct contributions to qualified charitable organizations providing earthquake relief in Haiti on either their 2009 return instead of their 2010 return if certain conditions are met. Read Full Article Here
NOL Carrybacks
CONGRESS ENACTS EXPANDED NOL CARRYBACKS
The Worker, Homeownership, and Business Assistance Act of 2009 (“Worker Act”) allows taxpayers to elect to carry back net operating losses (NOLs) incurred in tax years ending after December 31, 2007 and beginning before January 1, 2010 (or, for calendar year taxpayers, 2008 or 2009) for either 3, 4 or 5 years. For other years, NOLs can generally be carried back only 2 years. Marilyn discusses the requirements that must be met to qualify for the expanded carryback. Read Full Article Here
American Recovery and Reinvestment Act of 2009
THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009
Summary of Selected Tax Provisions
by Marilyn Barrett and David Graff
The recent Stimulus Bill provided for a number of tax breaks for US taxpayers, including tax incentives for business, renewable energy incentives, and indiv idual taxpayer relief. Marilyn summarizes those provisions here.
I provide legal counsel and negotiation expertise to clients engaged in a variety of corporate and business transactions. I assist clients form new business entities (including thorough analysis of the legal form of entity most appropriate for the clients’ needs), negotiate and prepare shareholder and buy-sell agreements between the owners, employment agreements, partnership agreements, LLC operating agreements, equity incentive plans (e.g., stock option plans), deferred compensation plans, financing transactions, merger and other corporate reorganization agreements, equity and asset acquisitions, and agreements for the sale or other disposition of all or part of the client’s equity interest in their company. My background in both corporate and tax law gives me a unique ability to advise clients on business transactions from a broad perspective from the very beginning of the transaction.
TAX CONTROVERSY
I also represent clients in adminstrative proceedings before the IRS, California SBE, FTB and EDD, and City of Los Angeles in tax disputes; prepare and filE ruling requests to the IRS, SBE and FTB, and assist nonprofit entities obtain tax-exempt status.
OUTSIDE GENERAL COUNSEL
I also act as general outside counsel for several mid-market companies and helps them navigate through all of their legal problems, assisting them when the legal issue is within my expertise and helping them select qualified counsel when it is not.
Suite 417
Los Angeles, CA 90064
310-441-2500 T
310-740-0662 C
