By: Jessica L. Kerner IN 2007, A HOTEL ROOM SHORTAGE IN SAN FRANCISCO prompted two roommates to create a website to rent out air mattresses in their apartment. Less than eight years later, the company they founded, Airbnb, has been valued at more than $25 billion...
STUDY ON INJECTION WELL INDUCED EARTHQUAKES THE U.S. GEOLOGICAL SURVEY (USGS) RECENTLY released its short-term forecast for seismic activity. For the first time, it includes a discussion of “Induced Earthquakes.” The study, which comes after a significant...
By: Scott L. Semer , Torys LLP. FOR OVER 30 YEARS, NON-U.S. INDIVIDUALS AND ENTITIES who invest in U.S. real estate have been subject to tax both on operating income and gains realized upon exiting the investment. There have been limited exceptions, primarily...
Includes Analysis by: Carolynn Kranz , Kranz & Associates PLLC Mark Muntean , Charles Swenson and Iris Kitamura , Kranz & Associates PLLC This article discusses the impact of the U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair...
By: Jerred Blanchard Baker & McKenzie LLP Background On December 20, 2017, for the first time in 30 years, Congress passed major tax legislation in the form of the Tax Cuts and Jobs Act of 2017, Pub. Law No. 115-97 (Act), signed into law by President Donald...
By: Neil Aragones , Sean Craig , and Patricia Tyler , Lexis Practice Advisor Tax Team This article discusses action taken by Congress and the IRS to provide coronavirus tax relief, including H.R. 6201 and high deductible health plan guidance. Also included is...
By Cameron Kinvig | LexisNexis Practical Guidance The global demand for renewable energy is expected to continue booming for the next two decades. The U.S. Energy Information Administration projects a nearly 50% increase in world energy usage by 2050, led by...
By: The Practical Guidance Tax Team This article discusses the Consolidated Appropriations Act (the Act), passed by the House and Senate on December 21, 2020, and signed by President Trump on December 27, 2020. The Act pairs a roughly $900 billion novel coronavirus...
Over the last year, law firms of all sizes, from the largest in the world to small and midsize firms, have pursued funding from multiple rounds of the Payment Protection Program (PPP) . For some, the PPP loans they received were insurance for rough patches that...
Filing tax returns can already be burdensome, and for divorcing couples, recent significant changes to federal tax laws are likely to further complicate matters. The Tax Cuts and Jobs Act reverses the law created nearly 80 years ago that aimed to ease the post...
This post was originally published in June 2020 and updated in April 2023. It’s no secret that tax law is constantly in flux. And every election cycle brings potential changes to federal, state, and local tax codes. To further complicate things, external...
In an effort to keep pace with an increasingly digitized world, many law firms are beginning to accept cryptocurrencies such as Bitcoin as payment from clients. Gaining an understanding of how cryptocurrency works can be daunting. But for lawyers, it may be worth...
Business owners, including attorneys, know how important the federal tax deduction for “ordinary and necessary” business expenses is to their profitability and survival. The less money a business pays in taxes, the more profits it has with which to...
Only about 8 percent of Americans invest in cryptocurrencies . But you wouldn’t know that based on the amount of media coverage that is devoted to cryptocurrency—and the cadre of media outlets that focus on it exclusively. Perhaps sensing that all...
Plaintiffs whose personal injury suits involve a major accident often expect a tax-free settlement. Settlements can be complex in any case, but the new Trump tax law further complicates the subject as it alters who, how and what is taxed in personal injury cases...