For nearly four decades, Jerald David August has advised corporate and individual clients on successful tax strategies and how to structure optimal tax outcomes, both domestically and internationally.
His experience comes from guiding clients facing tax challenges associated with new, changing, or troubled business arrangements, and he has especially focused on the complex tax issues that accompany corporations partnerships, pass-thru entities, and foreign business investments. He has substantial experience in mergers and acquisitions of both private and public companies.
Mr. August’s tax experience covers:
- Tax-free formation of a business entity, as well as on partnership issues, such as the issuance of equities and the purchase, sale or exchange of ownership interests.
- Acquisitions and dispositions of business interests, including mergers and acquisitions, cross-border transactions
- Tax controversy and litigation before the IRS or Department of Justice
- Debt restructurings of leveraged real estate and troubled business enterprises.
- Bankruptcy tax issues involving corporations and partnerships.
- Structuring deferred compensation arrangements for U.S. and foreign service providers and recipients, including hedge fund managers or managers of private equity funds.
- Structuring real estate and business joint ventures both domestic and foreign.
- Analyzing contingent tax liability reserves under ASC 740-10.
- Foreign tax implications of the new Tax Cuts and Jobs Act on U.S. corporations and unincorporated business entities.
- Deductibility of compensatory-related payments including the potential application of parachute payments and excise tax provisions attendant to a change of control event.
- Tax consequences of expatriation for both U.S. citizens and long-term U.S. residents.
- Estate planning for high net worth residents as well as non-residents, including assessment of the potential U.S. transfer and/or foreign gift, estate, or inheritance tax impact in transferring wealth from one generation to the next.
In international tax matters, Mr. August has advised business organizations and owners on planning and structuring foreign business or investment activities, as well as advising non-U.S. persons and individuals on the tax consequences of making investments in the U.S.
In addition, Mr. August has substantial experience in representing clients facing tax controversies before the Internal Revenue Service and other tax authorities, including trials before the United States Tax Court, the Court of Federal Claims, federal district courts, and the Eleventh Circuit Court of Appeals on a variety of tax matters. He also has been frequently involved in pre-indictment criminal tax investigations arising out of an audit or referral to the Criminal Investigation Division of the IRS.
He often serves as a special tax counsel for corporations and individuals, seamlessly integrating with clients’ other business and tax advisors in addressing matters that of concern to the IRS.
Prior to joining Kostelanetz & Fink, Mr. August spent 10 years as partner and co-chair of the Taxation and Wealth Planning Department of Fox Rothschild LLP, a 22-office, full service law firm. He also was the Chair of the Tax Opinions Committee.
Prior to joining Fox Rothschild LLP, Mr. August was the majority shareholder in the tax law firm of August, Kulunas, Dawson & Siegel, P.A., in West Palm Beach, Florida, which he started in 1988 after serving as Co-Chair of the Tax Department of the Miami-based firm of Steel Hector & Davis.
Mr. August is admitted to practice before the United States Supreme Court and has represented the Tax Section of the Florida Bar in writing and filing an amicus curiae brief with the Supreme Court in a landmark tax case, Commissioner v. Estate of Hubert, 520 U. S. 93 (1997).
Mr. August is a member of the New York, Florida and Pennsylvania Bar Associations. He is also a member of the American College of Tax Counsel, the American College of Trust and Estate Counsel, the American Tax Policy Institute, the American Law Institute and had long served as the Editor-in-Chief of Business Entities, a bi-monthly tax publication which was published by Thomson Reuters and is carried on Westlaw and its successor is the journal of Corporate Taxation. He is a contributor on partnership taxation to Tax Notes, the weekly Tax Analysts publication.
Mr. August is a frequent speaker and author on federal tax matters on topics ranging from international joint ventures and mergers and acquisitions to foreign tax credits, the use of defective entities in tax planning, and partnership formations, among others.
His academic and speaking credits include:
- American Law Institute, and Sustaining Life Member. He has participated in various Restatements of the Law related to federal business taxation and trusts and estates.
- New York University Institute on Federal Taxation.
- Chair of the Closely-Held Business Program for the Annual NYU Institute on Federal Taxation for over a dozen years.
- Program Chair of the NYU Annual Federal Taxation Institute on two occasions.
- Program Chair for the past 10 years of the New York University Institute on Federal Wealth Taxation.
- Chair of the First and Second Annual Wallace-Lyon National Graduate Tax Law Workshops of the NYU School of Law Master's in Taxation Program.
- Lectures at the American Bar Association, American Law Institute, the University of Miami's Phillip E. Heckerling Institute on Estate Planning, the Southern California Tax Institute.
- Visiting professor on corporate income taxation at the Graduate Tax Program of the University of Florida School of Law.
- Guest lecturer at the University of Pennsylvania Law School and the University of Pittsburgh School of Law.
Mr. August received a B.S. and B.A. degree from the Wharton School of the University of Pennsylvania (1974). He earned his Juris Doctorate from the University of Pittsburgh School of Law (1977) and was awarded an LL.M. in Taxation from the New York University School of Law (1980).
He is AV+ rated by Martindale-Hubbell and a "band one" designee in taxation by Chambers. He is also listed as prominent in his field by Best Lawyers and Super Lawyers.