The Journal of Taxation of Investments has published its Spring 2008 issue (Vol. 25, No. 3), with these articles:

• Gerald Nowotny, Captive Insurance Companies Provide Tax and Economic Advantages for Hedge Funds, 25 J. Tax’n Inv. 3 (2008):

This article will outline how a captive insurance company created by the hedge funds can serve as a highly effective risk management tool while achieving tax benefits for the hedge fund and its principals from both an income and estate tax planning perspective. The use of captive insurers has not been widely exploited by the hedge fund industry at this point in time for no apparent reason other than lack of familiarity. This article will provide examples of how a captive insurer can be used by hedge funds.

• Dan Kravitz, Cash Balance Plans Become the New 401(k) for Law Firms, 25 J. Tax’n Inv. 19 (2008):

With an increasing number of attorneys bumping up against their maximum contributions for 401(k) and profit sharing plans, more law firms are turning to cash balance plans to help shareholders/partners increase their pre-tax contributions.

• Janie Casello Bouges, When Mutual Funds Fail to Make Foreign Tax Elections: What Does the Investor Lose?, 25 J. Tax’n Inv. 33 (2008):

U.S. taxing authorities have mechanisms in place to help fund-holders avoid double taxation when they invest in mutual funds with portfolios that include foreign investments. One such mechanism is the Section 853 election. This paper illustrates the significant costs to investors, from both an after-tax return and cash flow perspective, when mutual fund managers fail to take full advantage of the always tax-advantageous 853 election. Further, in an attempt to apprise investors of the effect of taxes on returns, the SEC requires that after-tax returns be reported in prospectuses. This paper demonstrates that the standardized formula demanded by the SEC to report those after-tax returns always understates the actual after-tax returns, particularly for funds that provide the larger part of their returns through cash dividends.

• Bradley T. Borden, Safe Harbors and Careful Planning Make Deferred Exchanges a Valuable Tool, 25 J. Tax’n Inv. 43 (2008)
• Joan Teresa Kay, 5% of Medicaid Providers Are a Measurable Part of Tax Gap, Particularly as to Payroll Taxes, 25 J. Tax’n Inv. 77 (2008)
• Market Notes, Federal Incentives Generally Encourage Later Retirement, 25 J. Tax’n Inv. 87 (2008)