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Oct 25 16

Andrew Bernknopf to present a webinar on international tax and estate planning

Andrew BernknopfAndrew Bernknopf
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Andrew Bernknopf will be presenting a webinar on international tax and estate planning on November 2, 2016 at 1 pm Eastern/ 10 am Pacific. The presentation, sponsored by Strafford Publications, is entitled: “Estate Planning for Multinational Families: Navigating Interests in Foreign Business, Real Estate and Financial Accounts.” Please contact Andrew for further information or link to Strafford’s website here: https://www.straffordpub.com/products/estate-planning-for-multinational-families-navigating-interests-in-foreign-business-real-estate-and-financial-accounts-2016-11-02

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Sep 24 14

FIFTH CIRCUIT DELIVERS HUGE WIN TO ESTATE OF ART COLLECTOR IN VALUATION CASE

Jordan ChodorowJordan Chodorow
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Though favorable rulings in the art related estate tax arena have proved rare, the Fifth Circuit has just returned a significant verdict for the estate of an art collector, reversing a negative valuation decision by the Tax Court. In Estate of Elkins v. Comm’r., No. 13-60472 (5th Cir. Sept. 15, 2014), the court held that the appropriate fractional discount to apply to the decedent’s artworks was not the 10% divined by the Tax Court but the 44.75% determined by the estate’s appraisers. read more…

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Sep 11 14

Strafford live webinar, “Estate Planning Techniques for Multinational Families”

Andrew BernknopfAndrew Bernknopf
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I am pleased to announce that I will be speaking in an upcoming Strafford live webinar, “Estate Planning Techniques for Multinational Families” scheduled for Tuesday, October 7, 1:00pm-2:30pm EDT. Because of your affiliation with my firm, you are eligible to attend this program at half off. read more…

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May 21 14

Corrective U.S. Tax Compliance for Dual Status and Foreign Taxpayers

Andrew BernknopfAndrew Bernknopf
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Corrective U S tax compliance july 8 2014.pdf

This article provides an overview of corrective United States tax compliance measures for individuals and companies who have failed to file required U.S. tax returns or foreign bank account reports (“FBARs”) in prior years (“delinquent filers”) or whose prior filings have contained errors or omissions (“errant filers”).  Corrective compliance involves filing the late or amended return or participating in a special program for delinquent or errant filers before U.S. tax authorities become aware of the delinquency, error or omission.

The focus here is on taxpayers with dual citizenship or dual residency (“dual status” taxpayers) and non-residents of the U.S. who have U.S. filing obligations because of contacts with the U.S., such as, conduct of business in the U.S., ownership of interests in U.S. business entities, ownership of real property in the U.S., or wealth transfer planning for family in the U.S. read more…

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Mar 7 14

4 DWC Attorneys Named to Southern California Super Lawyers 2014

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DWC congratulates its 4 attorneys selected for inclusion in 2014 Southern California Super Lawyers!

Bruce Glickfeld – Tax and Business Transactions
Menasche Nass  – Tax, Business Transactions, and Estate Planning
Jonathan Reich – Litigation, Trust and Estate Administration/Litigation
Mark Share – Real Estate, Litigation

Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high-degree of peer recognition and professional achievement. Super Lawyers selects attorneys using a rigorous, multiphase rating process. Peer nominations and peer evaluations are combined with third party research. Each candidate is evaluated on 12 indicators of peer recognition and professional achievement. Selections are made on an annual, state-by-state basis.

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Mar 4 14

Obamacare tax on income of passthrough entities

Jordan ChodorowJordan Chodorow
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New Internal Revenue Code section 1411 imposes a 3.8% tax – sometimes called the “Obamacare tax” – on the “net investment income” of an individual to the extent his or her adjusted gross income exceeds $200,000 (or $250,000 for married couples filing jointly). Investment income subject to the Obamacare tax includes income derived from the conduct of a passive activity (as determined under existing section 469 rules). It does not include income from activities in which the taxpayer is considered active by virtue of his or her material participation. Key to successful tax planning in this area is the concept of grouping activities in such a way as to bolster the taxpayer’s position that he or she materially participates in the activity that produces the investment income. read more…

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Oct 24 13

United States Estate, Gift and Income Tax Planning for International Families Part I: Primer on U.S. Tax Rules

Andrew BernknopfAndrew Bernknopf
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U.S. Estate and Income Tax Planning for International Families.10-24-13

Cross-border tax issues add an extra layer of complexity to estate and wealth-transfer planning.  This article is the first in a series that addresses United States estate, gift and income tax planning for international families.
read more…

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Jun 11 13

PRE-IMMIGRATION TAX PLANNING

Andrew BernknopfAndrew Bernknopf
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PRE-IMMIGRATION TAX PLANNING CPE Presentation (Tax) to the Chinese American CPA Association of the San Gabriel Valley May 22, 2013 Presented by:
Andrew Bernknopf, Esq.
De Castro, West, Chodorow, Mendler, Glickfeld & Nass, Inc.

Pre-Immigration Tax Planning revpptx

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Nov 15 11

Increase in Amount Transferable Under Small Estate Affidavit Procedure

Jonathan ReichJonathan Reich
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Effective January 1, 2012 the amount of a decedent’s property that may be administered under Probate Code Sections 13100 and 13151 without procuring letters of administration and without a formal probate will increase from $100,000 to $150,000.

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Nov 4 11

Michael Cohen Speaks on Tax Enforcement

Michael C. CohenMichael C. Cohen
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Michael Cohen recently spoke to the Pasadena Discussion Group of the California Society of CPAs concerning “Recent Developments in Tax Enforcement.” Topics covered included the IRS’s 2011 Offshore Voluntary Disclosure Initiative, developments in the ongoing saga of whether the six-year statute of limitations applies to basis overstatements and recent cases where the IRS was unsuccessful in imposing transferee liability on a tax shelter participant.

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