Diversity is the essential feature of the firm, in which people value individual and group differences, respect the perspectives of others and communicate openly. We have made considerable progress in advancing opportunities for minorities, finding ways to create career pathways for people from diverse backgrounds. By hiring people from diverse cultures and with diverse backgrounds and experiences, we gain the essential perspective necessary for achieving our business objectives around the world.
Qualified Opportunity Zones:Hot Tubs and Other Hot Topicsby Libin Zhang The Tax Cuts and Jobs Act (P.L. 115-97) created a new concept of qualified opportunity zones (QOZs), in which some investments receive tax deferral and tax exemption benefits. Although all the QOZs have now been identified, there issubstantial uncertainty about investments allowed within the zones
As a law firm whose clientele are mainly foreign business entities and high net worth individuals who are looking to invest or conduct business in the United States, we are often consulted about the tax system and one’s tax obligations in the U.S., which has a complicated tax system different from that of most of
Today the firm co-hosted the 5th Annual Chinese New Year celebration at the Tourneau Flagship store at Bryant Park. In addition to our firm, this year’s event was also co-hosted by Savio Chan, Fred Tang, Tourneau, Manhattan Magazine and Longines. The evening was kicked off by a spectacular traditional Lion Dance and concluded with a
Beginning February 15, 2016, the withholding tax rate has increased from the previous 10% to 15% of the amount realized by a foreign person that disposes of a “U.S. real property interest” of more than $300,000.00, according to the Foreign Investment in Real Property Tax Act (“FIRPTA”). Enacted in 1980, FIRPTA authorized U.S government to
On January 14, 2016, the US Department of Treasury issued a GTO (Geographic Targeting Order) targeted at high-end residential real estate market in Manhattan, New York and Miami-Dade County, Florida. The Order requires certain American title insurance companies to identify the “beneficial owners” behind companies purchasing luxury real estate properties in all-cash under certain circumstances.
The purpose of this article is to briefly educate Chinese companies with US subsidiaries, individuals interested in starting and operating a business in the United States, about the FLSA and how to maintain compliance with FLSA regulations. It is our goal to provide the best quality service for our clients and part of that involves