Andersen Global strengthens its platform in New Zealand through a Collaboration Agreement with Three Sixty Capital Partners, a strategic M&A advisory firm based in Auckland.

Andersen Global continues to build its multidisciplinary platform in South Africa through a Collaboration Agreement with Merchantec Capital, an M&A and investment banking firm based in Johannesburg.

Andersen Managing Director Eric Anderson's comments are featured in the recent Tax Notes article, Experts Urge States to Tax Tech via Statute, Not Regs. The article discusses the insights leading state tax practitioners shared about how technology is outpacing state taxation statutes at an October 28, 2024, panel discussion at the Paul J. Hartman State and Local Tax Forum in Nashville, Tennessee. Eric said the market for the virtual universe (i.e., where users can interact with other people or software) is growing rapidly, but there are no state statutes in place addressing taxation. The situation is creating a conundrum because, in the absence of relevant statutes, practitioners are applying existing laws, policies, and regulations to new internet applications, Eric said.

Global professional services firm Andersen is launching the Andersen Institute for Finance & Economics under the leadership of Fabio Natalucci to focus on key global trends affecting the world economy, financial markets, and business decisions.

Despite easing through mid-2024, the U.S. economy remained surprisingly resilient. Real gross domestic product (GDP) was up by 3% in the second quarter, while inflation trended lower. The Federal Reserve appears to have successfully navigated a soft landing for the economy through a combination of interest rate hikes and quantitative tightening. Though inflation is higher than the 2% target, the Federal Reserve recently cut rates for the first time in four years.

Maintaining wealth across multiple generations is complex. Success involves combining experience and expertise into a coordinated strategy of investment, tax, wealth transfer, and cash-flow planning. In recent years, an increasing number of family offices have been created to help ultra-high-net-worth families manage their wealth. Wealthy families can hire in-house personnel for all these areas, but as outlined below, they often find it helpful to engage third-party providers to complement their family office.

As the sunset of the Tax Cuts and Jobs Act approaches, the time for planning before gift and generation-skipping transfer tax exemptions are cut in half is now.

More and more, venture capital funds are moving their cash balances to money market funds. Holding money in these funds allows for greater flexibility in cash management, as well as providing greater yield while also reducing the risk of a potential banking crisis. However, for funds with foreign investors, U.S. money market funds can create certain tax complications for both the fund and investors that should be considered.