Michael Best & Friedrich: Michael Best partner Timothy G. Schally authors significant book on income taxation of mergers & acquisitions

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MILWAUKEE (SEPTEMBER 8, 2014) – Michael Best & Friedrich LLP partner Timothy G. Schally recently authored a Tax Management Portfolio book titled, Tax Consequences of Contingent Payment Transactions. The book focuses on the transfer of a business for consideration dependent on its future performance, while also addressing important tax subjects in mergers and acquisitions. The book is part of the U.S. Income Tax Series published by Bloomberg BNA, a leading source of legal, regulatory, and business information for professionals. Bloomberg BNA’s award-winning Tax Management Portfolios are the trusted source for thorough, topic-driven, in-depth analysis of tax topics and issues.

Schally’s co-author, Jeffrey L. Kwall, Esq., is a Tax Law Professor at Loyola University Chicago School of Law. Professor Kwall has published tax articles in many law and tax journals, and is the author of a leading law school casebook on the income taxation of business entities.

“It was a privilege to work with Professor Kwall on this book and an honor to have contributed to this prominent series with Bloomberg BNA,” Schally said.

Schally serves as Chair of Michael Best’s Taxation Group and has extensive experience advising clients with respect to the federal and state tax consequences of mergers, acquisitions and joint ventures, including taxable and tax-free reorganizations, restructurings, recapitalizations and spin-offs of both private and public companies. He also is a widely published author on tax subjects, and speaks frequently on tax subjects to legal and accounting groups in Wisconsin and across the United States.

Schally received his Juris Doctor, with honors, from the University of Wisconsin Law School and his Bachelor’s degree, with honors, from Marquette University.

For more information on Schally’s book, please visit http://www.bna.com or call 1(800) 372-1033.

About Michael Best & Friedrich LLP

Over the past 166 years, Michael Best has earned its reputation as a leading law firm, providing a full range of legal services to clients on a local, regional, national and global basis. The firm has more than 220 attorneys in Milwaukee, Madison, Waukesha and Manitowoc, Wisconsin; Chicago, Illinois; Salt Lake City, Utah; and Washington D.C. Michael Best’s main areas of practice include: corporate, intellectual property, labor and employment, land and resources (environmental and real estate), litigation, tax and wealth planning.