Insights on Private Companies

The IRS and Treasury Department issued proposed regulations that explain how investors can take advantage of the statute’s unique opportunity for deferral and exclusion of capital gains taxes by investing in designated distressed communities or QOZs.

Schiff represented veteran wealth adviser Gary Hirschberg, who spent the last 12 years at Goldman Sachs advising multi-generational families on taxation issues and philanthropy, in the launch of a new independent wealth management firm called Aaron Wealth Advisors.

The Tax Cuts and Jobs Act (the “Act”) will dramatically change the tax treatment of income from many partnerships, limited liability companies, and S corporations.