Blogs / Events / Articles / News

Obermayer's Markey and George Earn Philadelphia Business Journal's Best of the Bar Awards

Pauline Markey and Edmond M. George, both of whom are Partners at Obermayer Rebmann Maxwell & Hippel LLP, were chosen as two of Philadelphia Business Journal’s 2018 Best of the Bar award winners. The awards were designed to honor the top lawyers within the Philadelphia region in business litigation, employment litigation, intellectual prope...

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Obermayer to Host Tax Cuts Workshop

Forensic accountant Donna Pironti, CPA, MSA, CFF and Steve Rossman, CPA, MST – both from Drucker & Scaccetti – will be presenting “Understanding the Tax Cuts and Jobs Acts of 2017: A Family Law Perspective.” This presentation will discuss the changes to Individual Income taxation brackets, standard deductions, dependency exemptions, chi...

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New Tax Act Bars Deductions for Settlements Related to Certain Sexual Harassment Claims

The recently enacted Tax Cuts and Jobs Act (the Act) has been touted as the largest tax reform since 1986. Among its many provisions, the Act adds a new section to the Internal Revenue Code (Section 162(q)) targeting confidentiality agreements in sexual harassment cases. The new section is in response to a realization, in the wake of the #MeToo m...

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Medical Marijuana Dispensaries: Maintaining Business Records for Federal Income Tax Purposes, Not as Hard as it Sounds

Generally, medical marijuana dispensaries are not allowed to deduct expenses for federal income tax purposes because buying and selling marijuana, even for medical reasons, is considered “trafficking in illegal drugs.”  Such dispensaries, however, are allowed to offset income by cost of goods sold (“COGS”) if they maintain sufficient...

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Business Highlights of the 2017 Tax Cuts and Jobs Act

  BUSINESS HIGHLIGHTS OF THE 2017 TAX CUTS AND JOBS ACT The highly anticipated Tax Cuts and Jobs Act is expected to be signed into law in early 2018.  This Act when signed will be the largest tax reform since 1986 and as a result, can affect many aspects of your business.  Here are some of the most prominent business and real p...

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Early New Year’s Resolution: Update Partnership and LLC Agreements to Comply with New IRS Audit Rules

In 2015, Congress repealed the complex and heavily criticized Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) partnership-level audit rules which apply to partnerships and most LLCs.  The new audit rules, which Congress adopted in place of the TEFRA rules, go into effect in less than a month (on 1/1/2018).  This change in audit...

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Pauline W. Markey Joins Obermayer as a new Tax Partner

Obermayer Rebmann Maxwell & Hippel LLP has added Pauline W. Markey Esq. as a Partner in the Business & Finance Department’s Tax Group. Markey practices in the firm’s Philadelphia office. Markey focuses her practice on US federal income tax – including pass-through entities, tax exempt organizations, and tax controversy. She also prov...

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State Tax Incentives for New Jersey Businesses and Developers: New Jersey State Legislature Passes Economic Opportunity Act of 2013

After several months of revisions and debate, the New Jersey Economic Opportunity Act of 2013 (the “Act”) has been passed by both houses of the New Jersey state legislature and was signed by Governor Chris Christie on September 18, 2013.  Under the auspices of the New Jersey Economic Development Authority (the “EDA”), t...

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Philadelphia Tax Assessment Appeal Alert

A recent change by the Pennsylvania State Tax Equalization Board (STEB) in the City of Philadelphia’s Common Level Ratio (CLR) makes necessary a review of a property owner’s real estate tax assessment in order to determine the necessity for filing an appeal of that assessment to the Philadelphia Board of Revision of Taxes (BRT) before t...

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IRS Issues Directive on Disclosure of Foreign Income



 

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