Blog » August Tax Law, P.C.

YA Global Investments, LP v. Commissioner: Offshore Foreign Lender to U.S. Based Borrowers and Portfolio Companies Engaged in U.S. Trade or Business

December 27th, 2023

This article, which will be expanded in the next issue of Corporate Taxation, discusses a recent Tax Court decision that raises the question whether hedge funds and private equity firms segregating large capital investments by non-U.S. persons, foreign countries, and exempt organizations, for investment in the U.S. in foreign feeder groups, are imputed the status of being engaged in one or more U.S. trades or businesses through the activities of their agents. In YA Global Investments, LP, 161 TC… Read More

Why Novak Djokovic and Other Top Tennis Stars Call Monaco Home.

September 1st, 2023

Jerald David August was highlighted in the Forbes article, “Why Novak Djokovic and Other Top Tennis Stars Choose Monaco as Their Home.” Read the article. Read More

Court Rulings Slam Door On Int'l Travel For US Tax Debtors

February 3rd, 2023

Tax attorney Jerald David August is quoted in a Law360 Tax Authority article discussing recent court rulings that restrict international travel for U.S. taxpayers with tax debts. Read the article. Read More

Business Separation Under 199A Remains a Mystery

May 8th, 2019

The IRS recently issued final regulations for Section 199A, which allows a 20 percent deduction from a taxpayer’s ordinary income from certain qualified trades or businesses. There is not currently a clear test to determine whether businesses are separate for purposes of the deductions. Jerry addressed a variety of key issues relating to the 199A deduction in an ALI-CLE National webinar and Tax Notes reported on the webinar in a recent article. Read the full article here and please contact Jer… Read More

Jerry August quoted in New York Times: Tax Breaks for Private Plane Ownership

April 6th, 2019

Dream of Owning a Plane? This Tax Break Can Help. Growing up in central Connecticut in the 1980s, Joshua Siegel loved everything about flying. He couldn’t afford flying lessons, let alone his own plane, but he kept dreaming. By his 20s, he had achieved some financial success and was able to take advantage of a new tax deduction meant to spur private plane sales in the aftermath of the Sept. 11 terrorist attacks. Using the tax break, he deducted the entire cost of a new Cessna more quickly than… Read More

Supreme Court asked to overturn Quill's physical presence standard with South Dakota's economic nexus tests for imposing sales tax on out-of-state state retailers

April 18th, 2018

State of South Dakota v. Wayfair, Inc. et al In what portends to be the next landmark Supreme Court decision on a state’s constitutional power to impose state sales tax on interstate commerce the Court recently heard oral arguments in South Dakota v. Wayfair, Inc., et al, cert granted, 138 S.Ct. 735 (1/12/2018). The issue before the Court is whether South Dakota sales tax scheme can satisfy the requirement under the Commerce Clause by imposing sales and use tax collection on a remote seller wi… Read More

The Tax Cuts and Jobs Act of 2017 introduces major reforms to the international taxation of U.S. corporations

February 27th, 2018

Reprinted From The Winter 2018 Issue Of ALI-CLE’s The Practical Tax LawyerWinter 2018 Edition On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (“TCJA”) of 2017, P.L. 115-97, which introduced a set of tax cuts and other reforms that will affect substantially all U.S. taxpayers, both corporate and individual. The key feature of the new legislation was the reduction by 40 percent of the maximum federal corporate income tax rate from 35 percent to 21 percent,… Read More

The Tax Cuts Tax Cuts And Jobs Act Of 2017 Introduces Major Reforms To The International Taxation Of U.S. Corporations

February 1st, 2018

ALI-CLE The Practical Tax Lawyer, Winter 2018 Edition Read More

Jerald David August quoted in "New Corporate Tax Rate has Hidden Catches", the trusted professional

January 31st, 2018

The new tax law enacted in December swapped out a graduated corporate tax rate topping out at 35 percent with a flat 21 percent rate across the board. While this provision, combined with the elimination of the corporate alternative minimum tax (AMT), might seem to have simplified matters considerably, attorney Jerald David August, a tax partner at Kostelanetz & Fink, LLP, who spoke at the Foundation for Accounting Education’s conference “Impact of the New Tax Law: a Sid Kess Work… Read More

International tax changes under TCJA

January 18th, 2018

ALI-CLE Course Materials, January 18, 2018. VCZG0118 ALI-CLE 57…JOBS ACT OF 2017 IMPAC INTERNATIONAL TAX CHANGES UNDER TCJA Jerald David August Kostelanetz & Fink, LLP New York, New York Copyright (c) 2018 The American Law Institute (c) 2018 Jerald David August. All rights reserved. VCZG0118 ALI-CLE 57 2018 WL 551477… Read More