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ARTICLES

Qualified Small Business Stock: A Rare Planning Opportunity

Sanaz "Sunny" Jahangard and David Keligian (March 2024)

Internal Revenue Code Section 1202, which allows exclusions of certain gains on dispositions of qualifying stock, can offer huge tax benefits. Exclusions of gain can amount to hundreds of millions of dollars, and the exclusion can be “multiplied” by the creation of trusts and other entities that hold qualifying stock. This article provides an explanation of the rules for qualification, and then discusses how to maximize the tax benefits.

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This article is featured in the March 2024 issue of OC Lawyer.

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1031 Delayed Exchanges: Avoiding Common Traps 

David Keligian and Steven Hilton (November 2023)

Code Section 1031 exchanges of real estate are relatively common, and in most cases there is very clear guidance about how they should be structured. There are also several knowledgeable advisors in the area, including companies which specialize in providing “accommodator” services for 1031 exchanges. Nonetheless, there are a number of common situations that, if not handled properly, can inadvertently trigger gain. This article reviews some of such common traps and how to avoid them.

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This article is featured in the November 2023 issue of OC Lawyer.

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Exiting California: Avoiding Common Misconceptions

David Keligian (February 2023)

Given the high stakes in claiming an individual or business is no longer subject to California tax, a review of the basic rules governing California taxation will help your clients avoid some common mistakes in planning a California exit. Unfortunately, there are some misconceptions about avoiding California taxation and how to properly do so. 

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This article is featured in the February 2023 issue of OC Lawyer.

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Taxation of Damages: A Primer for Litigators

David Keligian (November 2022)

This article provides guidance on how settlements can be structured for the best tax result. With some attention to tax rules early enough in the process, litigators can help their clients achieve much better after-tax results. 

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This article is featured in the November 2022 issue of OC Lawyer.

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MGB Lifecycle

The Lifecycle of the Entrepreneurial Business: Wonder...Blunder...Thunder...Plunder

Matt Brown (February 10, 2022)

There are four stages of entrepreneurial business growth: wonder, blunder, thunder, and plunder. Each stage has its own opportunities and challenges. And each stage brings with it the need for one or more attorneys as a member of the entrepreneur’s advisory team.

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Modification of California Unemployment Insurance Code Section 1755(a) to Provide a Minimum Holding Period for Surrender of Property Subject to Levy from Financial Institutions 

Alexander Schindler, Co-Author (March 2021)

This proposal addresses the EDD bank levy statute codified in CUIC § 1755. The code section at issue imposes an undue financial hardship and administrative costs on taxpayers and the EDD. This proposal will recommend solutions and amendments to the statute that would allow taxpayers to avoid financial hardship and will allow the EDD to avoid administrative costs.

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This article is being republished with the permission of the California Tax Lawyer.

Distributions from a Donor Advised Fund to a Private Foundation

Casey Hale (February 16, 2021)

There is a widely held but misguided belief that the law prohibits a donor advised fund (“DAF”) from making a distribution to a private foundation. While the Pension Protection Act of 2006 imposed a myriad of restrictions on DAFs, it did not completely proscribe distributions from a DAF to a private foundation so long as the DAF sponsoring organization undertakes certain expenditure responsibility measures. Moreover, a DAF may make distributions to a private foundation even when a donor or donor advisor to the DAF is also a disqualified person with regard to the recipient private foundation.

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Succeeding in Succession: Grooming a Successor

Derek Early (April 22, 2020) 

Identifying potential successors to take over a business is often a

monumental task. But the succession planning process should not end

once potential successors have been identified. Developing potential

successors so that they are capable of taking over once the owner is gone is a crucial next step.

Click here to download PDF Article

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