This article writer’s assertion in the article title is a bit extreme. Endeavor has amassed a wealth of “best in class” brands and has talented management at every level. Although cash flow has been negative over the past several years, Endeavor uses its financial acumen and deal making skills to fund these shortfalls. There is Read more about In the News: Forbes[…]
Harvey Bezozi is a tax guru specializing in complicated tax cases for famous people including music, film, and television celebrities, athletes, news anchors, prolific authors, top surgeons, hedge fund managers, politicians, judges, silicon valley billionaires, ultra-wealthy families, huge taxable estates, inventors, real estate investors, attorneys, industrialists, green energy innovators, and others. He is interviewed here Read more about Podcast: Enterprise Podcast Network[…]
In a recent, highly publicized case, the IRS rejected a tax settlement proposal known as an Offer in Compromise (OIC) from actor Wesley Snipes. Snipes sought to pay less than 5% of his massive tax debt of around $25 million. The IRS agents handling the case (called Revenue Officers, or “ROs”) flatly denied the proposal, Read more about Reasonable Collection Potential and the IRS Offer in Compromise[…]
I cannot get comfortable with the significant limitations created by the new tax law on the State and Local Tax Deduction (SALT). It effectively rubs salt into the wound, causing pain to those in high income states, where mostly all of my celebrity music clients live (California and New York). My experience has also shown Read more about In the News: AccountingToday[…]
While many families enjoy owning vacation homes and using these properties for getaways and gatherings, a vacation home is a unique type of asset that requires careful planning regarding its ownership structure. The type of ownership format chosen will affect a wide range of legal, financial, and procedural factors including asset and creditor protection, property Read more about The Vacation Home LLC and Why It Is Used[…]
People are waiting longer this year to file their taxes for a variety of reasons. The overly complex tax law changes have caused many tax professionals to take a second and third look at things before pressing the e-file button. Also, regular W-2 employees are finding smaller refunds due to Form W-4 calculation errors. And, Read more about In the News: NBC News[…]
Wealthy families use a variety of trusts for asset ownership, asset protection, and tax planning purposes. The Disney/Fox deal is an intricate corporate asset acquisition and merger. Harvey is a mergers & acquisitions and trust expert, and was asked by a prominent Bloomberg reporter to quote on this topic. The Murdoch’s look very happy In Read more about In the News: Bloomberg[…]
It’s the oldest and simplest formula for accumulating wealth: Live the “buy low, sell high” dream by acquiring, holding, and then selling property at a tidy profit. Unfortunately, resulting capital gains taxes could amount to persistent leaks from an investor’s wealth-building pool. Every sale of investment or business property can create tax liability, reducing the Read more about The IRS Code Section 1031 Like-Kind Exchange: A Tax Planning Technique Used By Savvy Real Estate Owners[…]
The extreme limitations that the new tax law has imposed on deducting state and local taxes (state withholding taxes from wages; real estate taxes on homes) is probably the most upsetting of its provisions. High tax states with high income and county taxes like New York, New Jersey, Connecticut, California, DC, Maryland, and Illinois are Read more about In the News: WDEF News 12 Now[…]