Understand the business and tax fundamentals associated with transactional law practices, as well as their ethical implications. Some of the important issues to be addressed include:
— the scope of engagement; — factors to consider when accepting new clients or new matters; — standards of care; — what is taxable income, taxable liability, taxable gains and losses and gain and loss realization vs recognition; — non-recognition provisions (1031 like kind exchanges; 1033 involuntary conversions); — choice of entity; — when to include tax counsel when handling transactional matters; — conflicts of interest in tax planning
… and MORE!!!!
Bradley T. Borden, Esq., Brooklyn Law School; Lewis Tesser, Tesser, Ryan & Rochman, LLP