New York’s Updated Nonresident Audit Guidelines Lowers the Threshold to Be Considered a New York Statutory Resident for Tax Purposes
In the two years since the outset of the COVID-19 pandemic, there has been a mass exodus of New Yorkers leaving the Empire State for warmer, more tax-friendly states such as Florida and Texas.[1] In fact, New York ranked third among states in which people moved from in 2021.[2] More than 33,500 New Yorkers moved to […]
Cooper Levenson Business & Tax Law Group Counsel Linode through Acquisition by Akamai Technologies
Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announced it has completed its acquisition of Linode. On February 15, Akamai announced an agreement for Akamai to acquire Linode in exchange for approximately $900 million. Cooper Levenson, P.A. represented Linode with a corporate and tax team led by firm President Robert E. Salad and […]
Is Florida now a Community Property State?
On June 29, 2021, Governor Ron DeSantis signed into law Senate Bill 1070, known as the Florida Uniform Directed Trust Act (the “Act”), which expands Florida’s directed trust laws. A directed trust is a trust that appoints a third-party (often called a trust director or trust protector) to provide direction to a trustee regarding trust […]
The Crypto Estate
According to Google Trends, the amount of people searching “cryptocurrency” or “crypto” reached an all-time high this year. However, many people do not understand the intricacies or implications of cryptocurrency. Using and investing in cryptocurrency creates considerable estate planning and tax implications. Cryptocurrency is a form of digital currency that is used to purchase goods […]
Conservatorship, Guardianship, and Britney Spears
Recent news has brought the concept of conservatorship and guardianship to the forefront. Britney Spears’ California conservatorship case involving her father’s control of her financial affairs generated public outcry. Similarly, in Florida, the tragic Surfside condominium collapse created concern for families attempting to manage the affairs of their missing loved ones. States have different procedures […]
Alternate Names for Business Entities
March 29, 2021Michael Salad, Esq. | Craig Panholzer, Esq. We frequently receive inquiries from small-business owners about conducting business under a name other than its legal name. A business entity may conduct business in New Jersey under an alternate name (commonly referred to as a “fictitious name”) if statutory guidelines are met. An alternate name […]
Changing Residency from New Jersey to Florida
Now more than ever, people are contemplating changing their state residency. We are frequently approached by clients seeking to relocate to Florida for financial reasons but they do not always understand the financial benefits or the process of establishing Florida residency. To help you decide whether a permanent move from New Jersey to Florida is […]
Part Two: The Mechanics of an ABLE Account
After part one of our article regarding ABLE accounts, we received several inquiries about how funds in ABLE accounts may be invested, how ABLE accounts differ from a 529 college savings plan, what constitutes permissible uses of ABLE account funds and what happens to account funds after the participant passes away. “ABLE” is an acronym […]
Establishing an ABLE Account in Florida
The Achieving a Better Life Experience Act (the “ABLE Act”) provides families with a valuable savings mechanism that has been underutilized since its enactment into federal law on December 19, 2014. The ABLE Act assists individuals and families in establishing tax-free savings accounts to maintain health, independence and quality of life for individuals with disabilities. […]
Future Planning – An Overview of Special Needs Estate Planning
September 25, 2020 Presented by Cooper Levenson and Opportunity Village – Join Cooper Levenson attorneys Michael Salad and Kimberly Maxson-Rushton as they provide an “Overview of Special Needs Estate Planning” for Opportunity Village