Forchelli Deegan Terrana LLP actively recruits qualified candidates with diverse backgrounds and perspectives to foster an inclusive workplace to best serve our clients. Through the firm’s Diversity Fellowship Program, we are thrilled to welcome Josephine R. Pinnock & Camila Morcos this summer! Josephine R. Pinnock is a student at the Maurice A. Deane School of Law at Hofstra University and earned her B.A. from Princeton…
Since 2021, Maltese personal pension plans have been on the IRS radar as a “Dirty Dozen” transaction. The Dirty Dozen are the “worst of the worst tax scams.” Yesterday, the IRS significantly stepped-up enforcement against individuals with private Malta pension plans. In the transaction, a U.S. person creates a personal pension in Malta and contributes appreciated assets to the plan. Ultimately, the plan liquidates the…
Forchelli Deegan Terrana LLP is pleased to announce that Partner and Co-Chair of the firm’s Tax, Trusts & Estates practice group, Stephanie M. Alberts, was elected to the Nassau County Bar Association’s Board of Directors. An installation will be held at 6:00 p.m. tonight at Domus in Mineola, NY. The primary role of the Board of Directors is to set policy for the NCBA, oversee…
What is a topic/issue in your area of practice that you would like people/businesses to currently be aware of? “Post-pandemic, I have seen large retailers including Lord & Taylor, Sears and Bed Bath & Beyond leaving malls and shopping centers opening opportunities for other uses,” she said. “One of the biggest development trends in the land use sector is the conversion of retail to medical…
Commercial property owners often need to invest in building improvements to attract and maintain tenants. This cost is exacerbated by the inevitable increase in taxes due to physical change. Fortunately, the State of New York offers a significant business investment exemption for owners who construct or improve their buildings for the purpose of commercial or industrial activity. Section 485-b of the New York State Real…
During the course of real estate development and construction operations, one issue that may arise during contract negotiation (and potential subsequent litigation) is whether or not the parties intend(ed) to confer beneficiary status to a non-signatory third-party. This concept of whether said third-party is in fact granted “Intended Third Party Beneficiary” status may dictate whether or not the third-party has the right to enforce the…
Gianni V. Sbarro Associate Forchelli Deegan Terrana LLP Number of years at firm: 1 One thing on my bucket list: Fly a plane. What recent project, transaction or accomplishment are you most proud of? Assisted a large academic medical center in obtaining approvals from the town of North Hempstead Board of Zoning and Appeals in connection with their proposed plan to convert an existing commercial…
UNIONDALE, NY, APRIL 25, 2023 – Consistent with Forchelli Deegan Terrana LLP’s (“FDT”) strategic growth initiatives, the firm is pleased to announce that Anthony C. Varbero, Esq., and David C. Casagrande, Esq., have joined FDT as partners in our newly-formed Securities Litigation & Regulation practice group. Messrs. Varbero and Casagrande co-chair this group. Prior to joining FDT, Messrs. Varbero and Casagrande were affiliated with…
Of all types of property, the values of office buildings may be the most adversely affected by the pandemic. Accordingly, owners of office buildings should carefully monitor their real estate tax assessments to make sure the valuations reflect the new post-COVID economic reality. There are four main factors in the valuation of office buildings for real estate tax purposes: income vacancy and collection loss expenses…
The Corporate and Mergers & Acquisitions and Veterinary practice groups at Forchelli Deegan Terrana LLP would like to share this short overview regarding “rollover equity,” including when such equity is offered, what it is, and why it should be considered in connection with the sale of a business. Often times, when a business is purchased, not all of the consideration is…