Phil Gross specializes in taxation (federal, state, local and international), hedge funds and private equity funds, including domestic funds, offshore funds, and funds-of-funds. Phil counsels clients on structuring (and restructuring) funds, structuring investment managers and general partners, compensating managers, investing in funds and seeding managers, and on the taxation of financial instruments. He also advises clients on how to avoid being subject to ERISA and what to do if they are, how to plan and structure securities transactions (including PIPEs and cross-border investments), nonqualified deferred compensation, and numerous other tax issues.
BAR ADMISSION:
1988, New Jersey
1990, New York
1992, U.S. Tax Court
EDUCATION:
New York University School of Law (LL.M. in Taxation, 1989)
Certified Public Accountant, New York 1989
Vanderbilt University School of Law (J.D., 1986)
College of William & Mary (B.B.A., 1983)
HONORS AND AWARDS:
Beta Gamma Sigma
MEMBER:
New York State Bar Association (Tax Section, Committee on Taxation of Financial Instruments)
New York City Bar Association (Committee on Taxation of Business Entities)
Managed Funds Association (Tax Section)
New York State Society of CPAs (Taxation of Financial Products Committee)
Texas Hedge Fund Association
LECTURER:
"Current Trends in Structuring Funds for Optimum Efficiency," Effective Hedge Fund Tax Practices, Financial Research Associates, December 2010
"Simplifying the Taxation of Passive Foreign Investment Companies," Financial Research Associates Webinar, July 2010
"Unrelated Business Taxable Income -- What Every Fund Should Know," Hedge Fund Tax 101 Seminar, Financial Research Associates, June 2010
"Taxation of Hedge Funds: Onshore and Offshore Concerns," ACI's 6th National Advanced Forum on Regulation and Enforcement of Hedge Funds & Investment Advisers, American Conference Institute, June 2010
"Current Hedge Fund Tax Issues," Viteos Fund Services Annual Hedge Fund Forum, May 2010.
"Controlled Foreign Corporations; Impact on Hedge Funds and Private Equity Funds," Effective Hedge Fund Tax Practices, Financial Research Associates, May 2010.
"Structuring and Restructuring Funds and Managers in Light of Recent Tax Changes and Proposed Changes," NYSSCPA Taxation of Financial Products Seminar, co-speaker, January 2010.
"Current Developments in Taxation Including TALF Issues," NYSSCPA Investment Company Conference, co-speaker, November 2009.
"Avoiding Tax Traps for Investments in Controlled Foreign Corporations and Passive Foreign Investment Companies," Effective Hedge Fund Tax Practices, Financial Research Associates, co-speaker, November 2009
“Tax Consequences of Hedge Fund Structures,” Financial Research Associates Webinar, co-speaker, October 2009
"U.S. Distressed Debt Investing, Structuring Funds to Minimize Doing Business Risks," 2009 Taxation of Financial Instruments and Transactions Conference, Foundation for Accounting Education, Debt Modification Panel, January 2009
"Realizing Your Maximum Potential through Offshore Funds," Institute for International Research’s Hedge Fund & Compliance Forum, June 2008
“Key Tax Issues Affecting Hedge Funds,” Hedge Fund Tax Accounting, and Administration Master Class, FRA, May 2008
“Establishing Investment Management Operations in London — U.S. Income Tax Planning,” FRA Webinar Series, January 2008
“Structuring Offshore Funds for Tax Efficiency and Compliance — Avoiding Costly and Complicated Mistakes When Starting an Offshore Fund,” FRA Webinar Series, December 2007
“Accounting For Uncertainty in Income Taxes — FIN 48,” Effective Hedge Fund Tax Practices, FRA, November 2007
“The Impact of the American Jobs Creation Act of 2004,” Institute for International Research Conference on Tax and Reporting Practices for Hedge Funds, October 2004
PUBLICATIONS:
“Some Innovative Hedge Fund Tax Ideas,” 22 Journal of Taxation and Regulation of Financial Institutions 12, March/April 2009
"Current Hedge Fund Tax Issues," Bank of America Hedge Fund Conference, 2006
"ERISA Fund Structuring," Deloitte Conference 2005
ARTICLES AND LINKS:
