Insights

As the corporate world is evolving and becoming more accepting of working remotely, every company is facing an increased threat of cybercrimes. The average cost of a data breach continues to rise and was more than $8 million last year. Many of our clients ask us what they can practically do to help protect their organizations. 

Last year, the Affordable Care Act was challenged by certain states in the U.S. Supreme Court.

Sponsoring a real estate fund can be highly rewarding, both financially and personally, but it can also be a costly and complex undertaking. As you start planning, keep in mind these steps that managers should follow to successfully launch a real estate fund.

The real estate industry is reeling in the face of new legislation, extended eviction moratoriums, environmental regulation and higher taxes. Now, trade organization and industry leaders vow to fight back.Most recently, industry executives are warning that the Biden administration’s plans to hike the tax on long term capital gains above $1 million from 20% to the top bracket would result in a top bracket rate of 43.4%. In late May, the administration also revealed that the capital gains tax hike would be retroactively applied to assets sold after April 2021. 

As real estate funds continue to succeed and become more prevalent in the alternative investment industry, and with more institutional investors increasing allocations to real estate, an increasing number of aspiring portfolio managers are joining the race to launch their own real estate funds. For many successful real estate investors and syndicators with several single-asset deals under their belt, starting a real estate fund is the logical next step.

On January 7, 2021, New Jersey passed the Economic Recovery Act of 2020 (the “Act”), which contains a comprehensive recovery package addressing the ongoing economic impact of the COVID-19 pandemic. Specifically, the Act includes over 15 different economic development programs incentivizing job creation, capital investment and community revitalization. Recently, the New Jersey Economic Development Authority (“NJEDA”) approved details regarding the Act’s new Emerge Program (the “Program”), a jobs-based tax credit program for businesses that invest private capital in the state and target priority industries. These tax credits are available for up to seven years.

Many service organizations receive requests from their clients for a System and Organization Controls (SOC) report. However, it is often difficult to comply with SOC guidelines or determine if you are ready for a SOC audit.

Successfully transitioning a closely held construction business to the next generation while providing an exit strategy to the current owners is one of the most important and challenging tasks faced by ownership. 

It’s difficult to find an aspect of life that remains unaffected by technology. While many people may associate art collections with paintings and sculptures, art is a space where technology continues to make its mark. This article, the first in a series, will discuss some of those impacts, specifically regarding blockchain technology as a possible solution for the problems of provenance and forgery.

While we have all been focusing on the various pandemic-related relief programs for businesses and individuals, it is now time to prepare for possible changes to the tax code. Planning and preparation for these changes is challenging due to the uncertainty around which provisions will change, but the more knowledgeable you are about the possibilities, the more you can do to plan. The Biden tax proposals may impact individuals, families, and businesses. Read this brief overview of some of the more important proposals, which are focused on high-income taxpayers.