Family controlled businesses-- organization, financing, taxation, operations, acquisitions, divestitures, succession and estate planning. Employee benefits, including executive compensation planning and all types of tax-advantaged compensation and fringe benefit plans, including pension, profit sharing, 401(k), 403(b), ESOP, cross-tested, new comparability, Keogh, SEP-IRA and IRA plans, cafeteria plans, Rabbi Trusts, Secular Trusts, Qualified and Non-Qualified Stock Option Plans, Qualified and Non-Qualified Annuity Plans, Qualified and Exempt 457 Plans, Internal Revenue Service and Department of Labor Audits, Appeals to the U.S. Tax Court, for Pennsylvania Board of Finance and Revenue, Commonwealth and Supreme Courts, Philadelphia Tax Review Board.
Gerry represents a diverse group of family controlled businesses, which present a gamut of legal and tax issues. Gerry advises such businesses on issues from the proper choice of entity, the advantage of different capitalization structures, relations among owners, financing asset and real estate acquisitions, mergers, divestitures, and passing the business to the next generation.
Gerry also concentrates his practice in employee and shareholder compensation and benefit planning. He has significant experience in developing tax advantaged programs and strategies to compensate owner-employees, executives and rank and file employees. This includes the special needs of tax-exempt, governmental and charitable employers. Gerry interacts on a regular basis with the employee plans/exempt organization branch of the Internal Revenue Service and the Employee Benefits Security Administration of the U.S. Department of Labor.
As a result of his involvement in compensation and benefit planning, Gerry is often called upon to assist closely held family businesses in planning for the transfer of ownership and control of the business from one generation to the next. This often involves working with the Estate Planning department of the Firm to coordinate the business succession with the overall Estate Plans of various family members. Gerry also works with Financial Planners to implement and fund various aspects of succession plans. This often involves coordination with other members of the Corporate Department in structuring appropriate buy/sell or shareholder agreements. Gerry regularly assists with the benefit issues encountered in M A transactions.