516-227-0700

Working to ensure maximum tax advantages for business and individual clients.

Tax considerations are integral to the structure of virtually every business transaction. The Farrell Fritz team of tax attorneys helps Long Island and New York metropolitan area businesses, charities and individuals with federal, state, and local tax planning across a broad spectrum of matters.

Our tax attorneys also represent clients in all levels of tax controversy work, including IRS and New York audits, IRS Appeals and New York Conciliation Conferences, United States Tax Court, and New York State Division of Tax Appeals. We also secure rulings from the Internal Revenue Service on a variety of tax matters on behalf of clients.

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  • Business Organization and Operation

    Experienced in the various legal and tax issues inherent in how a business is organized and operates, our tax attorneys:

    • Help clients select the most beneficial legal and tax form in which to organize a new business. We are experienced in structuring and advising partnerships, limited liability companies, S corporations and C corporations to address both of these objectives.
    • Offer counsel on tax matters affecting all aspects of business operations, including capital contributions, the admission or removal of a shareholder or partner, distributions, redemptions, recapitalizations, reorganizations and other restructurings, S corporation issues, cancellation or restructuring of indebtedness, and liquidation and dissolution.
    • Advise on the structure of strategic transactions involving either tax-free or taxable sales or acquisitions of stock and assets, including mergers, reverse mergers, spin-offs, and joint ventures.
    • Assist in the preparation of shareholder and partnership/LLC agreements, the resolution of shareholder disputes, the structure of executive and deferred compensation arrangements (including phantom stock plans and stock options) and the settlement of litigated business matters.
  • Real Estate Investments

    Our tax attorneys work with real estate investors on income tax and New York transfer tax matters involving acquisitions, refinancings, leases, dispositions and like-kind exchanges of real property. We also advise owners and charities in connection with the bargain sale of real property and with the granting of conservation easements.

  • Estate and Gift Planning

    We advise individual clients in connection with planning for the disposition of their business and investment assets for estate and gift planning (and business succession) purposes, including recapitalizations, grantor trusts, GRATs, QPRTs, charitable remainder trusts, sales to intentionally defective trusts and family limited partnerships/LLCs. We also represent clients in estate and gift tax audits.

  • Employee Benefit Plans

    The firm’s tax practice encompasses all aspects of ERISA and employee benefits, including the establishment and operation of qualified plans, pensions, health and welfare benefits and related tax issues, including their continued qualification, compliance obligations, and IRS and New York State audits of such plans.

  • Not-for-Profit Creation and Operation

    Private foundations and public charities alike trust the counsel of Farrell Fritz in all stages and aspects of their operations, including the creation of their not-for-profit organizations and the filing of their exemption applications. We represent not-for-profits in corporate restructurings, mergers, joint ventures, executive compensation matters, and dissolutions. In addition, our tax attorneys counsel not-for-profits (and defend them in IRS audits) on issues related to excise taxes and the maintenance of their not-for-profit status, including private inurement, self-dealing, taxable expenditures, jeopardy investments, and excess benefit transactions.

Professionals

Joseph T. La Ferlita

Trusts & Estates

Partner
Uniondale

Louis Vlahos

Tax

Partner
Uniondale

Jordan S. Linn

Trusts & Estates

Counsel
Uniondale

Bernadette Kasnicki

Tax

Associate
Uniondale

David Neuman

Corporate

Associate
Uniondale

Recent Blog Posts

To Gift or Not to Gift? The Time May Have Arrived

The Joy – and Tax Benefits – of Gifting As we enter the “season of giving” and the end of…

December 07, 2018

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December 07, 2018

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Trusts and the Section 199A Deduction

If there was one part of the Tax Cuts and Jobs Act (“TCJA”) that estate planners were especially pleased to…

November 26, 2018

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November 26, 2018

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Plan Ahead to Avoid Tax Surprises and Temptations

“I Didn’t See That Coming” Over the years, I have seen many business owners blanche when they learn how much…

November 19, 2018

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November 19, 2018

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Articles & Advisories

THE NEW TAX LAW: What Businesses Can Expect

The question we hear most from domestic business owners about the TCJA is, “How much will IRC Section 199A 20…

May 09, 2018

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“Tax-Free” Exchanges May Not Be Free of Tax

Business owners love to hear the words “tax-free” when considering the disposition of business assets. Unfortunately, many fail to grasp…

June 07, 2017

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Elder Law/Trusts & Estates: Disposing of Real Property in a Tax-Advantaged Manner

This article is reprinted with permission by the Nassau County Bar Association. Many of our clients are heavily invested in…

March 01, 2017

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Did You Say a Taxable Partnership?

To learn about partnerships, partnership audits, the Bipartisan Budget Act of 2015 (“BBA”), the BBA’s changes, the “taxable partnership” and…

July 08, 2016

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“Partnering” With an S Corp.

Reprinted with permission from The Suffolk Lawyer, January 2016 issue. Why, Oh Why? We’ve heard it before: “Why would you…

February 03, 2016

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SCIN Alive?! A Tale of Death, Taxes, Doubt, and Redemption

Reprinted with permission by The Suffolk Lawyer, Vol. 31, No. 2, October, 2015. Davidson was dead to begin with —…

October 23, 2015

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Good Deeds and Good Business

Reprinted with permission from This is Queensborough magazine, February 2014 issue. Many successful business people are also community-minded.  They have…

February 09, 2015

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Arm’s Length Merger or Gift?

Reprinted with permission from The Suffolk Lawyer, Vol. 30, No. 4, January 2015.   Every now and then, a case…

January 15, 2015

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Transferring the Family Business – Part IV: Not Just Gifting

Reprinted with permission from The Suffolk Lawyer, November 2014 issue. Our last post covered certain gifting techniques. Today, we will…

December 12, 2014

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Transferring the Family Business – Part V: Compensation

Reprinted with permission from The Suffolk Lawyer, Vol. 30, No. 3 – December 2014     “Call it what you want, incentives…

December 01, 2014

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News

Boom time ahead for Long Island?

Louis Vlahos, partner, who leads the Farrell Fritz tax practice group is quoted in this article. Tax reform, Wayfair case and…

August 01, 2018

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To C or Not to C?

Louis Vlahos, partner at Farrell Fritz is mentioned in this article. C-Corp offers tax treasures and traps as new code…

July 09, 2018

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Who’s Minding the 401(k)? Tibble v. Edison Points to Employer’s Duty

Below is a link to an article from the January 8th Workforce.com covering the educational seminar Farrell Fritz hosted with…

February 02, 2016

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Estate Planning Client Strategies

Louis Vlahos has recently been published in the book, Inside the Minds: Estate Planning Client Strategies. The book provides insider…

September 18, 2014

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Press Releases

30 Farrell Fritz Attorneys Recognized as 2018 Leading Lawyers in Their Respective Areas of Practice

Farrell Fritz had a combined total of 30 attorneys selected to the 2018 New York Metro Super Lawyers and New…

September 13, 2018

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Farrell Fritz Welcomes David J. Neuman as a Corporate Associate

David J. Neuman, a Woodmere, NY resident, is a corporate associate concentrating in tax law. He is resident in Farrell…

May 02, 2018

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31 Farrell Fritz Attorneys Recognized as 2017 Leading Lawyers in their Respective Areas of Practice

Farrell Fritz had a combined total of 31 attorneys selected to the 2017 New York Metro Super Lawyers and New…

September 20, 2017

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30 Farrell Fritz Attorneys Recognized as 2016 Leading Lawyers in their Respective Areas of Practice

Farrell Fritz had a combined total of 30 attorneys selected to the 2016 New York Metro Super Lawyers and New…

September 21, 2016

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Farrell Fritz Welcomes Jason Tomitz, Tax Associate, to its Uniondale Office

Farrell Fritz is pleased to welcome Jason Tomitz to its Uniondale office as a tax associate. Prior to joining Farrell…

June 09, 2016

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30 Farrell Fritz Attorneys Recognized as 2015 Leading Lawyers in their Respective Areas of Practice

Farrell Fritz had a combined total of 30 attorneys selected to the 2015 New York Super Lawyers and New York…

September 16, 2015

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Katherine A. Heptig of Farrell Fritz Named Chair of a Nassau County Bar Association Committee

Farrell Fritz is pleased to announce that Katherine (Kate) A. Heptig has recently been named Chair of the Nassau County…

June 18, 2015

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Farrell Fritz Promotes Patricia Marcin to Partner and Three Associates to Counsel

Farrell Fritz is pleased to announce the promotions of Patricia C. Marcin to partner and John C. Armentano, Katherine A.…

January 07, 2015

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30 Farrell Fritz Attorneys Recognized as 2014 Leading Lawyers in their Respective Areas of Practice

Farrell Fritz had a combined total of 30 attorneys named to the 2014 New York Super Lawyers and New York…

September 23, 2014

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Farrell Fritz Partner Louis Vlahos Recognized at SmartCEO 2014 CPA & ESQ Awards Program

Farrell Fritz is pleased to announce that partner Louis Vlahos was an Attorney of the Year finalist at Citibank’s SmartCEO…

June 30, 2014

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Pro Bono

Helping Queens Reach its Full Potential

The Flushing Willets Point Corona Development Corporation is an organization comprised of private and public sector stakeholders that seeks to…

August 10, 2011

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Long Island Arts Alliance

Thanks to Long Island’s diverse and impressive cultural institutions, residents don’t have to go far to see a Rodin or…

January 01, 2010

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Nassau County Museum of Art

Farrell Fritz has been in the legal picture for Long Island’s leading art museum for years. Louis Vlahos, who heads…

January 01, 2010

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Long Island Alzheimer’s Foundation

LIAF began in 1988 in typical grass-roots fashion. Five women, each of whom had a parent or grandparent with Alzheimer’s…

January 01, 2010

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Queens Theater in the Park

Queens Theatre in the Park, located in Flushing Meadows Corona Park, is one of the borough’s premier venues for theater,…

January 01, 2010

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A Helping Hand for a Very Special School

Robert Creighton and Lisa Vaccaro helped make a difference for a nonprofit, private Long Island school that was founded to…

January 01, 2010

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A Gift from Alexa

One of the first projects initiated by our firm’s pro bono committee involved reaching out to a new group that…

January 01, 2010

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The Donna Dennis Foundation

Over the years, Farrell Fritz has reached out through its pro bono program to numerous Long Islanders, most of whom…

January 01, 2010

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The Patriot Group

Emergency responders earned a place at the center of the national consciousness after their heroic efforts on 9/11/01. One responder…

January 01, 2010

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East River Development Alliance

“Think Local” is a guiding principle of the East River Development Alliance, an organization founded in 2003 specifically to assist…

January 01, 2010

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On Demand Webcasts

Maximizing Proceeds in Private Company Exists: ESOPs and Other Alternatives

Farrell Fritz partner Louis Vlahos will be a panelist. He will join David Johanson, Partner, Hawkins Parnell Thackston & Young…

December 13, 2018

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Tax Considerations in M&A for Buyers and Sellers

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Family Business Exit Planning: Key Pitfalls and How to Avoid Them

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Liquidity Options for a Closely-Held Company

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The New Section 199A Qualified Business Deduction: Opportunities and Stumbling Blocks for Your Business

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Estate Planning for Business Owners and High Net Worth Families Under the New Tax Law

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Ownership Transfers of Closely Held Businesses

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