Tax Strategies for Seniors
With a median age of 44.6 years, Maine is the oldest state in the country. Our population of people age 65 or older has also grown by over 55,000 in the past seven years. If you’re part of Maine’s large senior population, you should be aware of some age-based tax...
In Misappropriation Case, Expert’s ‘Head Start’ Damages Calculation Survives Appeal
Sabre GLBL, Inc. v. Shan This damages case, which centered on an employee’s breach of fiduciary duties and other misconduct toward her former employer, and which went to arbitration, includes an informative discussion of the difference between head start damages and...
ESOP Court Denies Discovery of DOL Expert’s Prior Work for Government
Acosta v. Wilmington Trust In an ongoing ESOP litigation, the defendant trustee’s effort to obtain information on the DOL expert’s prior valuation work for the government was thwarted. In denying the trustee’s motion to compel, the court found the information was...
Year-End Strategies to Reduce AGI
Like every summer in Maine, it went by much too fast. But now that fall is here and the end of the year is in sight, it’s a great time to think about crossing off a few of your financial to-do’s. One important project you can tackle is reducing your current-year...
Connecticut Court’s Impermissible Double Dipping Triggers Remand
Oudheusden v. Oudheusden In a noteworthy decision, a Connecticut appellate court recently found the trial court double dipped when it divided the marital assets and calculated spousal support. Although attorneys from both sides had alerted the trial court to the risk...
Tax Implications of Refinancing Your Home
With the recent reduction in interest rates — and reports that further cuts could be on the horizon — you may be considering refinancing your home. If you are, there are some tax implications involved that you should know about. Here’s a quick overview. Deductions for...
4th Circuit Upholds Brundle ESOP Valuation and Damages Findings
Brundle v. Wilmington Trust N.A. The 4th Circuit Court of Appeals just affirmed the district court’s ruling against the trustee in the intensely contested Brundle v. Wilmington Trust ESOP case, including the district court’s valuation and damages findings. The...
The Clock May Be Ticking on Corporate Stock Redemptions
Though the individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) aren’t scheduled to expire until the end of 2025, some analysts think they could be repealed sooner. Next year’s presidential election and concerns over an increasing...
Indiana Court Upholds Child Support Calculation Involving Pass-Through Entities
Zausch v. Schnakenburg In a divorce case, the Indiana Court of Appeals reviewed a trial court’s post-judgment decision to modify the husband’s child support obligation upwards. The crux of the case was how to calculate the father’s income where he held minority...
Unequivocal ‘No’ to Unaffected Market Price—Delaware Supreme Court Strikes Down Aruba Networks
Verition Partners Master Fund Ltd. v. Aruba Networks, Inc. In a sharp rebuke, the Delaware Supreme Court overturned the Court of Chancery’s controversial decision in the Aruba Networks statutory appraisal case to use the unaffected market price as the sole indicator...