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News
In Brief
May 2019 • Vol 6 Issue 4
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Partners Kenneth N. Rashbaum and Steven Ebert will be leading an interactive panel discussion on cybersecurity risks in the real estate industry on Wednesday, June 19th. Sponsored by EisnerAmper, the event is titled “Can Your Real Estate Business Handle a Cyber Attack?” and will center on the real estate industry’s current challenges with electronic data theft. Ken and Steven are slated to speak regarding the prevalence of cyber attacks targeting real estate businesses and what kind of precautionary measures companies can take to ensure the safety of their clients’ private data (while simultaneously gaining a business advantage.) To learn more about this topic, see Ken and Steven’s article featured in this month’s newsletter.
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Jim Guadiana will speak on a panel discussion entitled, “GILTI, FDII and BEPS: Practical Guide for Companies in 2019.” This live webcast, hosted by The Knowledge Group, is scheduled for Tuesday, May 21st, 2019, from 12:00 PM to 1:30 PM ET. Topics covered will include the recent enactment on the Tax Cuts and Jobs Act, new GILTI and FDII provisions, BEPS updates, potential implications of tax reform on U.S. companies, and planning strategies for tax minimalization. Learn more and register here.
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Managing partner Roger E. Barton was recently quoted in the American Bar Association’s newest publication entitled Strategic Networking for Introverts, Extroverts, and Everyone In Between. Penned by author Carol Schiro Greenwald, this book is “the ultimate guidebook for forging new business relationships by enhancing your natural networking tendencies.” Roger is quoted several times throughout the book, giving thoughtful insights on the nature of successful networking. He says that networking is all about “making relationships, leveraging relationships, learning from others through relationships, and always thinking about interconnections—how to put A and B together for their mutual benefit.” Learn more about this publication and how to purchase a copy of it here.
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LEGAL NEWS: TRENDING TOPICS YOU SHOULD KNOW ABOUT
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On Tuesday, April 9th, 2019, the New York City Council passed a bill that, if signed by Mayor Bill de Blasio, would be the first of its kind in the country in banning employers from drug screening job applicants for marijuana. The bill, which was passed 40-to-4 by the city council, would make it a discriminatory practice for companies to require prospective employees to be pre-tested for the chemical compound THC, the active component in marijuana.
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Property managers, real estate brokers, and developers are facing a new and growing threat to their businesses: loss of valuable electronic information provided by tenants, prospective purchasers, and even their own employees. The pace of regulatory and enforcement paradigms is changing rapidly; in April 2019, the New York State Department of Financial Services (“DFS”) announced that its new Consumer Protection and Financial Enforcement division will combine with its Financial Frauds and Consumer Protection division. Amongst other matters, the new division will have a “…particular focus on the review and response to cybersecurity events…” according to the acting DFS Superintendent.
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On April 17, 2019, the Internal Revenue Service issued the second round of proposed regulations relating to investments in qualified opportunity zones. We previously issued an alert entitled “Qualified Opportunity Zones – New Opportunities in Real Estate” last November. This report clarifies certain matters covered in the earlier proposed regulations.
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