Articles published by Jacob Stein.
California Business Law Practitioner Volume 30 / Number 2 - Spring 2015
Part I of this article addressed inbound taxation, including income taxation , FIRPTA, estate and gift taxation and various ownership structures for foreign investors. This part II addresses outbound taxation (including taxation of controlled foreign corporations, foreign trusts, and passive foreign investment companies; the foreign tax credit; and IC-DISCs) and expatriation.
California Business Law Practitioner Volume 30 / Number 1 - Winter 2015
Our journey begins with a misnomer, "International taxation." The body of law addressed in this article has nothing to do with international taxation. There will be no discussion of the French VAT, the Italian IRPEF, or the Swedish PAYE. What is commonly referred to "international taxation" deals entirely with U.S. taxation - more accurately, U.S. taxation of cross-border transactions.
Bulletin for International Taxation, February 2015
Inward US investment is typically motivated by the benefits of fiscal transparency, a well-developed political and legal system, economic stability, and the absence of currency controls, as well as the need for privacy, asset protection and minimal worldwide taxation.
Journal of International Taxation
Foreign Investors, almost uniformly dislike paying U.S. taxes and filing U.S. tax returns. In many countries, for cultural, political, or personal safety reasons, privacy is paramount. Disclosure of one's financial affairs to any government is viewed as risky and something to avoid. Taxation of income earned in the U.S. may be unavoidable, and many foreign investors recognize that. With proper planning, it is possible that the U.S. -sourced income, while taxed by the U.S. at the corporate level, will not be taxed to the foreign investor personally. It is also possible that the foreign investor will avoid U.S. tax return filing obligations.
California CPA Magazine, September 2013
While a non-resident alien (NRA) desiring to invest in US. real estate property typically has many goals, such as liability protection and privacy,the main concern is to minimize worldwide income and estate tax liability.
EB5 Investors Magazine, October 2013
A foreigner desiring to invest in a U.S. business or joint venture has many goals, including privacy, liability protection and the need to minimize world-wide income and estate tax liability. EB-5 investors are also concerned with the tax planning that needs to take place before the investor is granted permanent residence status in the United States.
Business Entities, March/April 2013
International political uncertainty has continued to lead foreign investors to the U.S. The U.S. is politically and economically more stable, legally and fiscally transparent, and it imposes no currency controls. Various entity choices exist for investors.
LA Lawyer, January 2013
THE RECENT CONFLUENCE of falling U.S. real estate prices and a weaker dollar, together with the flight of capital from Russia and China, has produced a significant demand for real estate in California, Florida, and Manhattan among foreign investors. This demand is fueled by the global perception that the United States is politically and economically stable (or at least more stable than the alternatives), has a transparent legal system that makes it easy for foreigners to invest in real estate and imposes no currency controls, making it easy to divest.
Estate Planning, December 2012
Despite what its name implies, an irrevocable trust may be subject to change or termination through the implementation of various strategies.
Daily Journal, December 2010
The Emotional Consequences of Asset Protection
This year has been an emotional rollercoaster for our clients. As asset protection attorneys, we represent a great many people facing financial adversity. Our clients often come to us in a very depressed and disturbed state of mind. It is hard not to get emotionally involved in their problems…
RobbReport.com, September 2010
RobbReport.com speaks with asset protection specialist Jacob Stein, Esq. of Klueger & Stein, LLP in Los Angeles about the importance of protecting valuable assets, such as your private residence, rental real estate, investments and retirement plans.
Los Angeles Daily Journal, September 2010
Asset protection has significantly gained in prominence over the past few years. The declining fortunes of real estate developers and investors facing personal guarantee calls, coupled with business owners teetering on the verge of bankruptcy, resulted in a boom for this industry.
Estate Planning, August 2010
Last-minute asset protection planning can frequently run afoul of the fraudulent transfer laws. This article will help advisors determine when a transfer may be “fraudulent” and what would be the likely consequences of such a transfer to the client and to the attorney.
Business Entities, May/June 2008
California’s Treatment of A Foreign Jurisdiction’s Series LLCs.
California Tax Lawyer, Summer 2008
The question of California registration comes up often when foreign limited liability companies are used as holding companies for California legal entities, or own passive assets in California like bank accounts and non-income producing real estate.
Real Estate Investor, October 2007
Most plaintiffs and creditors simply give up the chase when confronted with an asset protection structure.
Real Estate Southern California, September 2007
Developers and investors will always be targets of lawsuits. The only way to change that is by removing a plaintiff’s financial motivation.
OrthodontlcProductsOnline.com, April/May 2007
Although orthodontists represent only 7% of all dentists in the United States, they face a disproportionately large number of malpractice lawsuits. This is true for anyone in the medical field who performs a large number of procedures.
Plastic Surgery Products Magazine, February 2007
This article provides a comprehensive overview of asset protection for doctors. It focuses on the most practical asset protection strategies and examines the most commonly used structures. For each asset type, different alternatives are discussed and compared.
California Trusts and Estates Quarterly, Winter 2007
In this well-received article, Jacob Stein examines the crucial role that trusts play in asset protection and advises on how trusts should be drafted to maximize their asset protection effectiveness. The article also includes a thorough examination of foreign trusts and recent cases in that arena.
RIA, Business Entities Magazine, September/October 2006
One of the most comprehensive articles ever written on charging orders. The article examines charging order history, variances in state laws, uniform laws and various concerns.
Los Angeles Lawyer, June 2006
In this exhaustive article, Jacob Stein examines such issues as LLC charging orders, series LLCs, foreign LLC structures, drafting issues and tax planning concerns. This article is an exhaustive reference on many LLC issues.
California CPA, August 2005
From the time limited liability companies came into prominence, practitioners have been working to maximize their asset protection, business flexibility and tax advantages, among other benefits.
Orange County Lawyer, August 2003
Jack was fast approaching his “golden” years, and following the advice of his attorney/CPA/financial planner was looking to diversify his only asset, a 30,000 square-foot shopping center. Having made his living off real estate, Jack was not interested in pork belly futures, blue-chip stocks or aircraft leases; hewas looking to diversify into real estate.