With the presidential election race heading down the final stretch, the candidates are explaining how their tax policies will spur economic growth and reshape America.

Business owners are frequently approached with unsolicited offers to buy all or part of their companies. In other instances, business owners may be proactively seeking a sale. Regardless of the situation, for owners who are interested in selling, whether in the near term or years down the road, early preparation and a thoughtful approach to financial and tax matters are essential to maximizing the value of the business and ensuring a smooth transaction process.

Income tax treaties can allow tax benefits not otherwise afforded under the domestic law of treaty partners, and are thus an integral consideration for individuals with cross-border investments, business, presence, and activities.

In any transaction that could result in a loss or deduction, the related-party rules under Sec. 267 must be considered.

In April 2024, the OECD released the Consolidated Commentary to the Pillar Two Global Anti-Base Erosion (GloBE) Model Rules.

With the presidential election season in full swing, tax policy is a critical point of differentiation in the 2024 presidential race.

Treasury and IRS released final regulations (TD 10001) implementing changes to the required minimum distribution (RMD) rules for individual retirement account (IRA) owners, retirement plan participants, and their beneficiaries made by the SECURE Act and the SECURE 2.0 Act. These final regulations generally retain the rules as proposed and are applicable for determining RMDs for calendar years beginning on or after January 1, 2025.

With the presidential election season in full swing, tax policy will be a critical point of differentiation in the 2024 presidential race between the Democratic and Republican party candidates – President Joseph Biden and former President Donald Trump. Below is an analysis of the candidates' key tax policy positions. Andersen will update this analysis throughout the election.

Often overlooked in philanthropic planning, the bargain sale can serve as a valuable tool for both taxpayers and charities alike.