Firm Insights

Introducing the Cadillac tax On July 31, the IRS and the Treasury issued Notice 2015-52 that explained all the potential issues and approaches of the proposed Cadillac tax regulations, according to the National Law Review. The Cadillac tax requires compliance from employers and thus, Notice 2015-52 calls for business owners to begin planning for the […]

What is the role of an artist manager? Two recent lawsuits highlighted dramatic portrayals of managers who may be described as somewhat imposing, which raises the question: What is the role of an artist manager in the music industry? According to the biopics “Straight Outta Compton” and “CrazySexyCool: The TLC Story,” at least, an artist […]

If you have spent any time near a television this fall, you could not have missed an advertisement for FanDuel or DraftKings. These fantasy sports conglomerates have spent an estimated $100 million in advertising this season. Their most obvious appeal to fans is the lucrative cash prizes that they offer. In fact, FanDuel’s prize payouts […]

City Sports files Chapter 11 On Oct. 5, City Sports, a Boston-based athletic gear retailer, announced that it had filed for Chapter 11 bankruptcy protection. According to the Wall Street Journal, City Sports plans to liquidate eight of its 26 remaining store locations. City Sports falls into debt The 32-year old company has recently fallen […]

The largest threat to the overwhelming majority of cybersecurity methods is the quantum computer. Mostly theoretical, with a few incomplete working models, the quantum computer is the next leap in computer technology. Although an aeon in technology, a fully operational model will be available within the decade. Its arrival will be the moment that all […]

The NFL player & a non-football injury One thing a football player must do to ensure the paychecks keep coming is to stay healthy off the field. A non-football injury could substantially impact salary. Sometimes people get hurt, but when football players get injured off the field, the consequences can be more than just inconvenience […]

Choppy waters for Star Group Communications Star Group Communications, the largest female-owned marketing agency in the U.S., announced recently that its creditors are seeking to force the company into Chapter 7 bankruptcy protection. According to the Philadelphia Business Journal, the New Jersey-based company had closed down after 30 years of operation. Star Group’s creditors pushed […]

The IRS’ Audit Technique Guide The Internal Revenue Service prepares Audit Technique Guide (ATG) to address over 50 industries or topics for their examiners. The Non-Qualified Deferred Compensation Audit Technique Guide was designed to address common issues relevant to non-qualified plans. The ATG divides such plans into four groups: Salary Reduction Arrangements, Bonus Deferral Arrangements, Top-Hat […]

A recent bill proposed by New Jersey Sen. Joseph Pennacchio, R-Morris, would provide a 1 percent tax credit for high net worth individuals earning over $500,000 annually. The goal of the bill is to stimulate the state’s economy and attract small businesses and multinational corporations and prevent state-to-state migration of the top earners in New Jersey. […]

Remixing music, at best, is a grey area. So how can musicians make sure they’re not breaking the law with their remix of another artist’s song? DJs and other artists often remix preexisting music, taking advantage of the popularity and structure of previously recorded songs to create something new, though typically derivative. Taking someone else’s […]

The EPA Clean Power Plan New Jersey recently joined 23 other states in challenging the Environmental Protection Agency’s (EPA) Clean Power Plan, also known as the 111(d) Rule. The suit maintains that the EPA’s plan to reduce greenhouse gases unlawfully exceeds its authority. What’s the EPA’s plan? As previously detailed on this blog, the EPA […]

On Oct. 2, Miller Energy Resources Inc., one of the major oil and gas producers in the U.S., announced that it filed for Chapter 11 bankruptcy protection. According to the Wall Street Journal, Miller Energy plans to hand over control of operations to Apollo Investment Corp. and Highbridge Capital Management LLC. Miller Energy falls victim […]