It seems like New Year’s Day 2025 was just a few weeks ago. As I watch 2025 quickly come to an end, it is clear that time passed this year at lightning speed.
2025 was, in many respects, a terrific year, complete with new opportunities and many challenging tax projects. I continue to be extremely grateful for the unwavering support of family, friends, clients and law colleagues!
During 2025, I was able to greatly expand my white paper, A Continuing Magical Mystery Tour Through Subchapter S – With a Stop at Many of the Obscure Destinations Along the Way. It is now more than 220 single-spaced pages. I recently presented it at New York University’s 84th Institute on Federal Taxation in both New York City and San Francisco. This paper provides tax practitioners with a thorough overview of the current state of Subchapter S and the traps that still linger within this tax regime for unwary taxpayers and their advisers.