By David Thaw, Gumbiner Savett

New legislation providing tax incentives for small businesses signed into law by President Obama includes a number of significant tax provisions for businesses to aid in the U.S economy’s recovery. The Small Business Jobs Act of 2010 allows businesses to immediately write off much of the cost of capital investments, instead of having to depreciate them over a period of time.

By David Thaw, Gumbiner Savett Inc.:

There are a number of options when it comes to dealing with non-performing assets, and much of it depends on the status of the property. The loan may be heading for default or the owner may have already completed a workout with the lender. No matter what the action, it is prudent to consider the tax consequences to ensure that your choice provides the best outcome in the long run.

By Richard Parent and David Thaw, Gumbiner & Savett Inc.:

On June 24, 2010, the Senate failed to pass the House-approved American Jobs and Closing Tax Loopholes Act (H.R. 4213), which was the legislation that, in part, proposed to change the way carried interest is taxed. Whether some version of the carried interest legislation will be voted on in the Senate this year is uncertain.