Firm News | November 1, 2021
This annual client alert briefly highlights certain tax issues and planning that hedge fund managers and high-net-worth individuals should consider (or reconsider) before the end of 2021. Although year-end tax planning is always important, the potential increase in tax rates in 2022 and other potential tax changes make it even more important this year-end. The…
Client Alerts | December 7, 2021 | High Net Worth Individual Planning | Hedge Funds | Private Equity Funds
As discussed in our October 26, 2021 client alert, the ICE Benchmark Administration will cease to publish the USD LIBOR benchmarks on June 30, 2023,1 and the Alternative Reference Rates Committee (the “ARRC”) announced its recommendation that the forward-looking Secured Overnight Financing Rate (“SOFR”) term rates published by the CME Group should be utilized as…
December 6, 2021 | Securities and Corporate Finance | Special Situations and Credit | Derivatives
Premier boutique law firm Kleinberg Kaplan has been recognized in U.S. News & World Report’s 2022 edition of “Best Law Firms” for providing outstanding legal counsel in three practice areas: Trusts & Estates, Commercial Litigation, and Tax. Kleinberg Kaplan was named a Tier 1 law firm for Trusts & Estates at both the National and…
Firm News | November 4, 2021 | Estate Planning and Administration | Commercial and Corporate Litigation | High Net Worth Individual Planning | Tax Controversy
Kleinberg Kaplan announced its plans to return to the office, starting January 3, 2022. As part of the firm’s new hybrid work policy, all employees will be expected in-office three days a week from January to May and September to December, and two days a week in June. For July and August, the firm will…
Firm News | November 4, 2021
Boutique law firm Kleinberg Kaplan, described as “Wall Street’s best-kept secret,” is celebrating its 50th anniversary as a leading legal adviser to investment funds and entrepreneurs, including many pioneers in the funds industry. Founded by Fred Kleinberg, Myron Kaplan and Norris Wolff in November 1971, with Jim Cohen joining a few months later, Kleinberg Kaplan…
Firm News | November 1, 2021
As discussed in our January 29, 2021 client alert, the ICE Benchmark Administration will cease to publish the most widely used tenors of the USD LIBOR benchmarks on June 30, 2023.1 Additionally, financial institutions have been advised not to utilize the most widely used tenors of the USD LIBOR benchmarks for any financial products that…
Client Alerts | October 26, 2021 | Securities and Corporate Finance | Special Situations and Credit | Derivatives
Kleinberg Kaplan recently sent a Trusts & Estates Client Alert discussing potential changes to the tax law that were proposed by the House Ways and Means Committee (click here for the Client Alert). A recent report issued by the House Budget Committee regarding the proposals has important implications concerning the proposed provisions related to grantor…
Client Alerts | October 6, 2021 | Estate Planning and Administration | High Net Worth Individual Planning
The House Ways and Means Committee recently released a draft of the tax portion of the proposed reconciliation bill. Some of the proposals affecting individual taxpayers, estates and trusts are described below. Termination of Temporary Increase in Gift and Estate Tax Exclusion Amount The gift and estate tax exclusion amount is presently $11.7 million (indexed…
Client Alerts | September 28, 2021 | Estate Planning and Administration | High Net Worth Individual Planning
Kleinberg Kaplan Creditors’ Rights and Bankruptcy Litigation partner Matthew J. Gold has been representing the State of Washington, the State of Oregon and the District of Columbia in their highly publicized legal battle against Purdue Pharma, maker of OxyContin, a painkiller that allegedly contributed to the national opioid crisis. Matt’s argument during the bankruptcy trial…
Firm News | September 7, 2021 | Creditors’ Rights and Bankruptcy Litigation
Tax Planning for Fund Managers and Other High-Net-Worth Individuals Earlier this year, New York State enacted a new elective pass-through entity tax (the “PTET”). The PTET generally allows individuals who are members of pass-through entities to effectively receive a federal deduction for New York State income taxes that they would otherwise not be able to deduct. On…
Client Alerts | September 1, 2021 | Hedge Funds | Private Equity Funds
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