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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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New bill makes it less taxing to die in Maryland

Maryland became the latest state to reduce its tax burden on high net-worth citizens in the form of a higher exemption for its estate tax, according to Forbes. The Maryland Senate passed a measure March 20 that will gradually raise the state exemption from $1 million to the projected $5.9 million federal exemption by 2019. […]

Author: Frank L. Brunetti

April 14, 2014

Defense Against Hacking: Is A New Industry Emerging?

As the advent of the Internet of Things (IoT) continues to increase data exponentially, cyber-attacks and data breaches persist at alarming rates and effectiveness. As the advent of the Internet of Things (IoT) continues to increase data exponentially, cyber-attacks and data breaches persist at alarming rates and effectiveness. These circumstances create a need that has […]

Author: Fernando M. Pinguelo

April 14, 2014

New York doubles estate tax exemption

New York Gov. Andrew Cuomo has led a well-publicized push to simplify the Empire State’s tax code. As of the stroke of midnight on April 1, the estate tax exemption doubled to more than $2 million, according to Crain’s New York Business. As per the budget agreement reached over the weekend, the state’s tax exemption will rise […]

Author: James F. McDonough

April 11, 2014

New York

Detroit decries creditors' request to delay bankruptcy plan

Detroit is expected shortly to file an amended bankruptcy restructuring plan, which is anticipated to add details to emergency manager Kevyn Orr’s first version of the plan, according to Detroit Free Press. The amended plan will allow the city to leave bankruptcy with significantly less debt and to invest $1.5 billion over the next decade in blight […]

Author: Joel R. Glucksman

April 11, 2014

Detroit

Could Northwestern Athlete Unionization Change Agent Rules?

The NCAA has been strict on its amateurism rules since its creation However, the ruling that Northwestern athletes are employees who can unionize could change that. One fallout could mean changes to the agent rules as the NCAA may no longer be able to prevent these interactions if athletes are considered employees. The current agent rules […]

Author: Anthony R. Caruso

April 11, 2014

Customers: Improving Relationships Increases Business

Businesses know that relationships with their clients are important, but in today’s world of social media, it is imperative to be proactive in improving relationships with clients. This means including your customers in everything from strategy to community management. Making customers feel like they are part of a community, while also not feeling like just a […]

Author: Dan Brecher

April 11, 2014

Supreme Court to rule on inherited IRAs

The Supreme Court heard oral arguments in a case in which a Wisconsin woman and a bankruptcy trustee are battling over the rights to the $293,000 IRA that the woman inherited from her mother, according to The Wall Street Journal. Heidi Heffron-Clark, 35, and her husband feel that the IRA that Heffron-Clark’s mother passed down to […]

Author: Joel R. Glucksman

April 10, 2014

Legislation Introduced to Ban Online Gaming

Online gaming has had a rocky history in the U.S. Sites like Party Poker and Poker Stars rose in popularity as ESPN began broadcasting the World Series of Poker live on television. However, these sites were taken down by the Justice Department for breaking a variety of laws. Recently, both Nevada and New Jersey re-introduced […]

Author: Anthony R. Caruso

April 9, 2014

New Jersey

Should We Heed Snowden’s Warnings?

The technology industry is receiving warnings from Edward J. Snowden, the former National Security Agency contractor who leaked classified documents revealing a network of government surveillance. Snowden asserts that it is time to focus on protecting the privacy of the industry’s customers and users. Snowden, who currently faces charges in the United States of violating […]

Author: Fernando M. Pinguelo

April 9, 2014

Aragona Trust v. Commissioner: A Taxpayer Victory Against the 3.8% Surcharge

One of the hard-fought issues between taxpayers and the Internal Revenue Service (IRS) was whether a trust could qualify for the passive activities exception. Specifically, activities are grouped into one of two categories, either active or passive. The goal of §469 was to prevent losses from a passive activity from offsetting active income. If one […]

Author: James F. McDonough

April 8, 2014

Energy Future Holdings Corp. closer to bankruptcy deal

Energy Future Holdings Corp. is closing in on a deal that will allow it to speed up its planned bankruptcy restructuring, according to Bloomberg. Six years ago, the company was bought out in a historic $48 billion leveraged buyout, which left it with debt it couldn’t afford to pay. The company’s board of directors met […]

Author: Joel R. Glucksman

April 8, 2014

NJ Investors – Take Advantage of the NJ Angel Tax Credit

In an effort to stimulate investments in emerging technology businesses based in New Jersey, a tax benefit program has been established allowing credits against corporation business or gross income taxes. If you have invested in a qualifying emerging technology business in New Jersey in 2012 or after, you may have a beneficial tax credit available […]

Author: Dan Brecher

April 8, 2014

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