www.beankinney.com Subscribe
View Our LinkedIn Profile

About

Our business blog focuses on issues affecting Virginia, D.C. and Maryland business owners as well as those in other jurisdictions throughout the country. We provide timely insight and commentary on federal and state rules and how they affect you. If you are interested in having us cover a specific topic, please let us know.

Topics

Archives

Select Month:

Contributors

This is the next post in a series of articles diving into the new “Opportunity Fund” program. In previous posts, we described the general framework for the new Opportunity Fund program, the tax benefits to taxpayers who invest in Opportunity Funds, and how the funds work. Now, we will answer some of the more common questions we have been receiving regarding the program.

Q: How does an Opportunity Fund become eligible to be an Opportunity Fund?

A: It is pretty simple. There are two general requirements.  First, an Opportunity Fund must be organized for the purpose of investing in Qualified Opportunity Zone Property.

This is the third post in a series of articles diving into the new “Opportunity Fund” program. In our first post, we described the general framework for the new Opportunity Fund program which you can find here. In the second post, we discussed the tax benefits to taxpayers who invest in Opportunity Funds. Now, let’s look at the funds themselves.

What are Qualified Opportunity Funds?

Qualified Opportunity Funds are investment conduits that deploy equity capital to specific types of property which are located in Qualified Opportunity Zones. Sounds simple enough! Let’s unpack this and keep track of the definitions.

This is the second post in a series of articles wherein we will dive into the new “Opportunity Fund” program. In our first post, we described the general framework for the new Opportunity Fund program which you can find here

There are three tax benefits that investors in an Opportunity Fund can take advantage of, (i) deferral of gain from the sale of property, (ii) partial forgiveness of this gain, and most importantly, (iii) tax-free appreciation in the investment in an Opportunity Fund.

Gain Deferral

The first thing a taxpayer must do to take advantage of the first tax benefit is to invest the gain from the sale of property into an Opportunity Fund within 180 days of the sale.

This is the first feature in a series of articles wherein we will dive into the new “Opportunity Fund” program.

The recently passed Tax Cuts and Jobs Act (TCJA) is most widely known for changing corporate tax rates, limiting the mortgage interest and state deduction for individuals, and for providing the qualified business income pass-through deduction. However, the TCJA also created a significant new economic development program, “Qualified Opportunity Zones,” that encourages private investment in businesses, projects and commercial property located in zones in every state and in each U.S. territory. 

As internet speech grows, so do internet defamation cases. It is easier today to ruin names, brands, and reputations with online negative statements. Yet it is also easier today to raise issues and advocate change before a widespread audience connected by the internet. 

These 10 questions should help an online company spot or a blogger avoid online defamation.

1. Is the statement defamatory in character?

A defamatory statement (written, oral, or visual) hurts another’s reputation. Accusations that another committed a crime or engaged in immoral or unprofessional conduct are per se defamatory, which can lead to automatic damages. An embarrassing or annoying statement is not defamatory.

Earlier this month, California’s highest court ruled that Yelp did not have to remove defamatory posts despite having been ordered to do so.  In the plurality opinion, the California Supreme Court held in Hassell v. Bird that Section 230 of the Communications Decency Act of 1996 (“CDA”) immunized Yelp from the “take-down” order.1

The Hassell case started with lawyer Dawn Hassell suing ex-client Ava Bird for defamation. Bird--using a pseudonym, but otherwise giving away her identity--had posted negative comments about Hassell’s legal service on Yelp. Bird did not defend against the suit and Hassell obtained a default judgment. That judgment included language requiring Yelp, who was not named as a party in the suit, to remove the negative posts. At the trial and intermediate-appellate courts, Yelp unsuccessfully sought to set aside the take-down order on the grounds that Yelp was denied due process and immunity protections under Section 230 of the CDA. For Yelp, third time was the charm: on appeal to the highest court in California, and re-asserting the same arguments as those raised in the lower courts, Yelp succeeded in setting aside the take-down order.

Freedom of speech has long applied beyond the spoken and written word. The Supreme Court has held that it applies to conduct, such as burning a flag, and it is currently considering whether it applies to the baking of wedding cakes in Masterpiece Cakeshop v. Colorado Civil Rights Commission.

But what about internet search engine results or other automated online “speech”? What about speech created by Artificial Intelligence?

January 2, 2018
Facebook LinkedIn Twitter Email Print
Topics Taxes

Congress has passed tax reform and President Trump has signed the bill into law. Consequently, the tax code will be dramatically changed for many. Although there are many uncertainties in how the implementing regulations and rules will look, many businesses and certain industries will significantly benefit. There will be ample tax planning opportunities, and we have provided the major highlights to get you started. 

Specifically, we have organized the highlights into four groups. The first is for real estate businesses and is applicable to businesses generally. This section talks about the 20% deduction for pass-through businesses like partnership and S-corporations. The second group is geared toward all employers and contains a significant tax credit for paying employees on FMLA. The third group provides the relevant provisions applicable to tax-exempt organizations such as an excise tax to the entity on excessive compensation. Lastly, there is something for everyone as we pulled out highlights pertaining to almost all of us individually.

December 21, 2017
Facebook LinkedIn Twitter Email Print

The Digital Millennium Copyright Act (“DMCA”) provides safe harbors from copyright infringement liability for certain kinds of online service providers — for example, websites that allow users to post or store material on their systems. If a provider is in compliance with the statute, it will be shielded from liability for infringing materials posted by third parties on their site.

In order to qualify for safe harbor protections, providers must designate an agent to receive “take down” notifications of claimed copyright infringement. These websites also must post take down information on their websites (usually, in their Terms of Use) to take advantage of the safe harbors.

LLCs and Subchapter S Corporations share a number of characteristics. Chief among them is that each provides participants – shareholders in a corporation, members in an LLC – with insulation from personal liability while avoiding the “double taxation” associated with C-Corporation status.  Double taxation means that a C-Corporation pays taxes on profits and its shareholders pay taxes on distributions. However, Sub-S Corporations do not pay taxes at the corporate level.