Happy New Year?
Ask anyone outside the United States what comes to mind when they think about an American New Year’s celebration, and the odds are pretty good they will mention the ball drop in New York City’s Times Square.
Latest from Tax Law for the Closely Held Business - Page 2
State Taxation of Telecommuting Employees And Their Nonresident Employers
Mending Walls
“Good fences make good neighbors,” or so Robert Frost’s neighbor from “beyond the hill” says to him when “on a day” they “meet to walk the line and set the wall between” them “once again.” The neighbor repeats
The Year-End: A Time for Ignoring the Holidays And Disclaiming Gifts (for Tax Purposes)
Happy Holidays? Bah Humbug!
The “holiday season” is once again upon us. A time to spend with family and friends, a time for gift-giving (and re-gifting), for songs and for story-telling, and a time for remembering those who cannot be
New York’s Proposed “Billionaires’ Tax” – Bad Idea
Will They Leave?
Over the years, the Democrats in Albany have regularly made noise about increasing the rates at which New York State taxes the income of its wealthier residents.
With the election of Governor Cuomo in 2010, and with
Year-End Gifting of Equity in a Business — With an Outstanding PPP Loan?
“Annus Horribilis”
Just over three weeks to go, then 2020 will be behind you. But don’t drop your guard just yet. Three weeks is a long time – plenty of time, in fact, for one more punch to the gut,
The IRS, Forgiven PPP Loans, and Business Deductions: Once Was a Mistake, Twice Is an Inexcusable Decision
It has been more than eight months since the enactment of the CARES Act,[i] yet here we are, with the end of 2020 in sight, and we are still debating whether taxpayers should be allowed to claim a deduction
Taxing Cannabis During the Pandemic
How Are You Doing?
How are you coping with social distancing? Are you working remotely? If so, has it been as “seamless” as you would have others believe? Have you snuck out to visit family or close friends, or have
New York’s Post-Election Tax Environment for Business Owners
Something Is Rotten
There’s a gray pall hanging over New York that has clouded the judgement of many politicians, and has left many of its residents feeling anxious and off-balance. No, it’s not the smoke from all the newly lit
The 2020 Elections Are Almost Over – What Now?
Wither The Senate?
I was reviewing a reorganization plan Saturday morning – coffee and chocolate chip cookies within easy reach[i] – when an email crossed my screen with the subject line that each of NBC, CNN, ABC and the
The Loss of the Favorable Capital Gain Rate, The Exclusion of Gain under Section 1202, and The Incorporation of the Partnership
If the Democrats Win
Science has not established – at least to my knowledge – any correlation between the pre-election year-end activities of individual business owners, on the one hand, and election outcomes, on the other.[i]
If the behavior