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McBrayer Blogs

Showing 7 posts from June 2013.

Living Wills in Kentucky: The Basics (Part 2)

Last week, general information was provided regarding Kentucky's living will form. Let's take a look at some more information about the document. More >

Corporate Tax Evaders Focus of G-8 Nations

As the economy has been slow to rebound in the past few years, many have turned their attention to issues of corporate taxation. While some claim that cutting corporate taxes in the U.S. is key to sparking growth, particularly among small businesses, others have been vocal about closing tax loopholes that allow larger corporations to avoid paying their fair share. At the recent G-8 summit in Northern Ireland, leaders pledged to crack down on corporations that engage in questionable tax practices. More >

Living Wills in Kentucky: The Basics

Terri Schiavo. Everyone knows the name and most remember the sad circumstances surrounding her death. Terri's parents and her husband fought passionately over whether Terri, who suffered brain damage and was in a persistent vegetative state, should live by artificial means or die naturally. The feud played out in the national news and in court until Terri's husband won the right to have Terri's feeding tube withdrawn. Terri died thirteen days after its removal. More >

IRS Work Group to Explore Definition of Real Estate for Taxation

In light of revelations such as Apple's ability to avoid many federal corporate income taxes, the IRS and the Treasury Department may be under pressure to reconsider some tax rules in order to prevent an erosion of the corporate tax base. Recently, the IRS notified information storage company Iron Mountain that it is "tentatively adverse" to its characterization of its racking storage units as real estate. Iron Mountain is seeking to convert itself from a corporation into a Real Estate Investment Trust, or REIT, to minimize its business taxation. More >

A To-Do List for Entrepreneurs

I think it was some high school teacher of mine that used to say, "Failing to plan is planning to fail." Of course, back then, those words fell on the deaf ears of a teenager. Only now, after many years as a corporate attorney, have I found myself repeating the statement myself to clients. Starting a business is not a "fly by the seat of your pants" venture. That is, at least if the business is intended to be a successful one. There are some common steps that every entrepreneur must take to get a business up and running. While not fully inclusive, the following checklist is a good place to start. More >

Will US Corporate Taxation Drive Startups to Incorporate Abroad?

The recent revelations that corporate giants such as Apple, Microsoft and Hewlett-Packard have been successful at using certain federal tax regulations to pay extremely low corporate income taxes have brought up a number of questions about the impact of U.S. tax policy on multi-national businesses. More >

Yahoo!/Tumblr Deal and the Tax Cost of Cash Acquisition Payments

When Yahoo! recently acquired the blogging service Tumblr, the two companies structured the deal so that virtually all of the $1.1 billion price tag for Tumblr will be paid in cash. In the current economy, many companies, particularly tech companies, have a lot of cash available, making the more traditional payment in stock appear less desirable. However, tax planning during mergers or acquisitions can be invaluable because, with proper counsel, the organizations can anticipate and mitigate the tax ramifications for the companies, individuals and shareholders. More >

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