Final Hybrid Plan Regulations - Practical Considerations for Law Firm Sponsors of Market-Rate Cash Balance Plans
Original webcast: October 2, 2014
Proposed hybrid plan regulations issued in October 2010 guided many law firms in the design, implementation, and ongoing administration of market rate cash balance plans. These plans quickly became the standard qualified plan approach in the industry for partner tax deferrals, yet questions remained. The IRS has recently issued final regulations that address some of the open issues from the proposed regulations. These issues may create additional challenges/ opportunities for existing plan sponsors, and may clear up uncertainty for other firms who have been considering these plans.
Listen to the playback of this webcast to hear insight provided by Phil Deitch, PwC Partner, and Ephraim Sudwerts, PwC Director, you need to reflect in the operation of your current plan. If you are considering a new plan, this will guide your design and implementation process.
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Use comp code: PwC102
Cash to Accrual Tax Legislation - Get ready!
Original webcast: March 13, 2014
House Ways and Means Chairman Dave Camp has released his proposal for tax reform. Included in the proposal is the requirement that professional service organizations change from the cash basis to the accrual basis for reporting taxable income. If passed, this change will go into effect on January 1, 2015.
Listen to the playback of this webcast to hear a discussion of the proposed legislation impacting your firm's method of tax accounting, the elimination of the guarantee payment provisions and other issues related to the proposal that may impact law firms. Panelists included: Stanley Kolodziejczak (co-leader of PwC's Law Firm Services practice), David Gaulin (co-leader of PwC's Law Firm Services practice) and Brian Meighan (tax partner in PwC's Washington National Tax Services).
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