I have been sharing knowledge with tax professionals through writing papers and articles, and presenting at tax conferences for almost 40 years. On March 11, 2013, with the encouragement of others, I entered the digital publishing age, embarking on a
Larry's Tax Law
Larry's Tax Law, published by Foster Garvey PC, focuses on detailed analysis and commentary on federal tax law, with particular emphasis on Subchapter S corporations and their complex tax provisions. The blog covers legislative developments such as the One Big Beautiful Bill Act and its impact on business tax deductions, including bonus depreciation and automobile loan interest deductibility. It also provides insights into tax planning strategies, regulatory changes, and notable tax cases and rulings. The content is aimed at tax practitioners and professionals seeking to navigate nuanced tax regulations and optimize tax outcomes for clients.
Latest from Larry's Tax Law - Page 7
A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part V – Spouses Owning Shares of an S Corporation
By Larry Brant
This fifth installment of my multi-part series on Subchapter S is focused on married individuals who own shares of an S corporation. While the rules relating to shareholder eligibility seem straightforward, their application relative to spouses may create traps for…
A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part IV – Suspended Losses of an S Corporation
By Larry Brant
This fourth installment of my multi-part series on Subchapter S is focused on suspended losses of an S corporation. While the rules seem straightforward, their application can be tricky, especially given legislative changes made in recent years.
Background
In general,…
Corporate Transparency Act Mini-Update – The Obvious Exemptions May Not Be So Obvious
I am taking a short break between the third and fourth installment of my multi-part series on Subchapter S. Before I publish the fourth installment on that topic, my colleague Steven Nofziger and I want to alert our readers to…
A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part III – Code Section 1361(b)(1)(C)
By Larry Brant
This third installment of my multi-part series on Subchapter S is focused on a single Code Section, namely IRC Section 1361(b)(1)(C) and the ineligibility of nonresident aliens as shareholders of Subchapter S corporations.
Background
As we all have come to…
A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part II – Code Sections 1375 and 1362(d)(3)
By Larry Brant
This second installment of my muti-part series on Subchapter S is focused on two Code Sections, namely IRC Section 1375 and IRC Section 1362(d)(3).
Background
While most of my readers are all quite familiar with these two Code sections, there…
A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part 1 – The Built-In-Gains Tax
By Larry Brant
In October 2023, I authored a new White Paper, A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary. This year, in a multi-part article, I intend to…
The IRS’s New Voluntary Disclosure Program: Bringing Cheer to Taxpayers This Holiday Season Rather Than Placing Coal in Their Stockings
By Larry Brant
The Internal Revenue Service (“IRS”) announced in IR News Release 2023-247 (December 21, 2023) its new Voluntary Disclosure Program (“ERC VDP”) that allows employers who may have received questionable Employee Retention Credits (“ERCs”) to pay them back at a discount.…
You’re Invited – NYU 82nd Institute on Federal Taxation (New York and California)
By Larry Brant
The 82nd Institute on Federal Taxation (IFT) will be held in New York City on October 22-27, 2023, and in Berkeley, California, on November 12-17, 2023.
This year, I will be presenting my latest white paper, “A Journey Through Subchapter…
You’re Invited – 49th Annual Notre Dame Tax & Estate Planning Institute
By Larry Brant
I am pleased to announce that I will be presenting at the 49th Annual Notre Dame Tax & Estate Planning Institute in South Bend, Indiana. The Institute this year will occur on September 20-22.
I will be presenting my white…