June 5, 2018

Tax Reform and Family Office Restructurings

Client Alert
John Bunge | Aaron Bradley Flinn | Jon P. Gaston | G. Michael Yopp

Does your family office qualify as a trade or business? This is an important question and a difficult question, as recent federal tax reform may have unexpectedly increased tax liability for families, and the Internal Revenue Code does not provide a clear definition of these terms.

However, Waller's team of experts reports that a recent decision by the U.S. Tax Court may provide some guidance and serve as a precedent for family offices seeking to maintain the deductibility of legitimate business expenses. Ultimately, restructuring may be the solution.

Go here to read the full report from Waller.

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