Table of Contents

In these difficult economic times, every family owned and closely held business should address the issue of ownership succession. Businesses with a credible succession plans are more attractive to buyers because it does not appear that the owner is required to sell, and lenders view the business as more stable. In developing a succession plan, it should be designed to strengthen both the business and the family. It should help prepare the future management, insure that the future leaders of the business have an incentive to remain with the business, and transition the business to the next generation enabling the business to continue to thrive.

MAKING AN OLD LAW DO NEW TRICKS

The American Jobs Creation Act of 2004 (the "Act") was signed into law in October 2004 for the purpose of creating and maintaining jobs in the U.S. While this Act has been around for over five (5) years, many are not aware of the benefits available under the Act. In these difficult times, Section 199 of this Act provides, for "qualified production activities", a tax deduction of 9% which can result in significant savings to the taxpayer. These deductions are available to a wide range of industries. This article describes how Section 199 applies to activities in the software industry and in real estate and construction industry.

LEVIN GINSBURG AT SUNDANCE

In January 2010, Hal "Corky" Kessler, the chair of Levin Ginsburg's entertainment law committee, organized and participated in a panel at the Sundance Film Festival in Park City, Utah. Sundance is one of the premier film festivals in the U.S. during which 200 films are showcased to the more than 50,000 participants. Levin Ginsburg was a sponsor and participant in the event. Corky, whose clients include independent film makers, chaired a panel attended primarily by independent filmmakers at the Festival. The panel spoke particularly to issues of concern to these filmmakers and was comprised of a major funding source for independent films, an accountant to the film industry, business plan preparer for independent films, a producer/line producer, a distributor and Corky, an attorney for independent films. The panel was well received and has been asked to participate in a two day seminar in New York City in April 16-17, 2010 where they are expecting another 200 independent filmmakers to participate. That seminar is part of the kickoff leading up to the Tribecca Film Festival. The panel anticipates participating in other similar events in 2010.

CONGRATULATIONS JOSEPH GINSBURG

Congratulations to Joseph Ginsburg for being named a 2009 "Super Lawyer" by FindLaw which is part of the Thomson Reuters Legal division. This honor is only bestowed on a small percentage of attorneys. Joe received this honor based upon his professional accomplishments and also by receiving the highest levels of recognition from his peers.