January

A special purpose acquisition company (SPAC) is a company that has no commercial operations and is formed strictly to raise capital through an IPO to acquire or merge with an existing, privately owned operating company for a specific purpose or in a specific industry. SPACs have very specific rules regarding how they can raise the money and when they must deploy the money.

On Thursday, December 29, 2022, President Biden signed into law H.R. 2617, the “Consolidated Appropriations Act of 2023” (“CAA”) making consolidated appropriations for the fiscal year ending September 30, 2023, providing emergency assistance for Ukraine, and enacting other legislative changes. Read on for more.

A grantor retained annuity trust (GRAT) is an estate planning technique permitted under IRS regulations. This technique allows you, the grantor, to make a gift to a trust over which you may serve as the trustee and receive an annuity payment from the trust for a specified period. Any appreciation on the trust property at the end of the trust term passes to your heirs, estate and gift tax free. Read on for more.