Business Taxation

Six years ago, Rollo Inc., gained a nonqualified stock option to Mrs. Jacques to buy 5,000 shares of Rollo stock per $15 per share for six years. At the date of grant, Rollo stock was selling on the AMEX for $14.75 per share. This year, Mr. Jacques exercised the option when the price was $45.10 per share. 1. How much compensation income did Mrs. Jacques recognize in the year the option was granted? 2. How much compensation income did Mrs. Jacques recognize in the year she exercised the option? 3. Did Rollo have any tax consequences from the option in the year of grant or in the year of exercise?

Taxation

Why would we need limitations on tax benefits of controlled groups?

Tax Provisions

If there is a tax provision pending before Congress that will negatively effect a transaction of a client, what would you advise your client to do?

Tax Law

How do court decisions lead to changes in tax law?

Tax Planning

What role does tax planning have in a major transaction like a merger?