Succession planning is a critical aspect of managing small, closely held businesses, as the unexpected departure of a key leader can significantly disrupt operations and challenge the business's legal...
Entering into a letter of intent for an office lease agreement? Consult our playbook for valuable key provisions, alternative language provisions, and guidance for both landlords and tenants. Download...
In the complex world of M&A transactions, transition services agreements (TSAs) serve as critical bridges between deal closing and operational independence thus creating stability during organizational...
This practice note covers key legal and regulatory issues to evaluate, questions to ask, and documents to review in medical device or diagnostic technology deals, including M&A, investments, financings...
As the population ages and more taxpayers live on fixed incomes, both federal and state governments face challenges in determining the appropriate level of taxation for retirees. For federal income tax purposes, retirement income is generally fully includable in a taxpayer's income, except for the portion representing a return of basis (after-tax contributions and Roth contributions/earnings). Social Security benefits are taxable under federal law to a certain extent for most. However, many states modify the taxability of retirement benefits. States and localities frequently enact property tax relief measures too. These may include exemptions, credits, and abatements for senior taxpayers. See this state law survey for more information.
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