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.
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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.
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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.
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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.
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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
Recent Blog Posts
How Dealings between Related Parties Doomed a Captive Insurer
Insurance: What is it? How does it work? Assume that Acme Co[i] is paying premiums for commercial insurance[ii] coverage to…
March 16, 2021
March 16, 2021
Corporate Tax Hike on the Horizon: Using Reasonable Compensation to Withdraw Value
Corporate Rate Increase? We begin this week with the Senate having passed the President’s $1.9 trillion coronavirus relief and economic…
March 09, 2021
March 09, 2021
The Biden Presidency: How Will Cannabis Business Be Taxed?
Wither the Weed? It has been one month since Mr. Biden’s inauguration as President of the United States. Among the…
February 22, 2021
February 22, 2021
Statutory Residence for the “Former” New Yorker
“Tax the Rich” in N.Y. Over the last few months, we’ve considered on several occasions how Albany may respond to…
February 16, 2021
February 16, 2021
Budget Resolutions, Reconciliation and Tax Increases: Is it Time for the Weight-Challenged Individual to Sing?
Procedural Mumbo Jumbo? [i] Remember your civics class in elementary school? * * * . What’s that? Not really. *…
February 08, 2021
February 08, 2021
Turning a Hobby into a Business And into Tax Trouble
“Find a Hobby” Over the years, many colleagues, friends and family who have observed my work habits have suggested, with…
February 01, 2021
February 01, 2021
Taxes In New York’s FY 2022 Budget
Budget Time in New York Last week, we reviewed some of the tax measures discussed by Governor Cuomo in his…
January 25, 2021
January 25, 2021
New York: Deficits, Taxes and 2021
Only 347 Days to Go What a year it has already been, and we are just beginning the third full…
January 18, 2021
January 18, 2021
Can a Partnership’s Payment to a Partner for Services Not Be Treated as Such for Purposes of Sec. 199A?
Memory Lane You may recall how clear it became, as the bill that would become the Tax Cuts and Jobs…
January 12, 2021
January 12, 2021
The Federal Estate Tax in 2021: What Might We Expect? What Can We Do?
Happy New Year? Ask anyone outside the United States what comes to mind when they think about an American New…
January 04, 2021
January 04, 2021
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…
December 28, 2020
December 28, 2020
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,…
December 21, 2020
December 21, 2020
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…
December 14, 2020
December 14, 2020
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…
December 07, 2020
December 07, 2020
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…
November 30, 2020
November 30, 2020
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…
November 23, 2020
November 23, 2020
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…
November 16, 2020
November 16, 2020
New York Business, Nonresident Telecommuters and the Taxation of Wages Earned Remotely
Drums. Do you hear them? Along the western shore of the Hudson River.[i] It seems that the unrest which began…
October 26, 2020
October 26, 2020
The “Art” of Operating Foundations: A Public-Private Venture
In the Beginning From the dawn of recorded history, those who have the means have purchased or otherwise financed the…
October 19, 2020
October 19, 2020
Forget Congress: The IRS Needs to Reverse Course On The Deduction of Business Expenses Paid with PPP Loan Proceeds
Round Two “Painful social lockdowns in Europe and some American states helped blunt the coronavirus. Now, amid a fitful reopening,…
October 13, 2020
October 13, 2020
The Election, the Democrats’ Tax Proposals, and Year-End Tax Planning: Caught Between Scylla and Charybdis
What a Week There is no denying that last week’s political events were historic; one can only hope they were…
October 05, 2020
October 05, 2020
Intra-Family Loan: A Gift Alternative In Turbulent Times?
Woe to Us? We live in strange times. The coronavirus pandemic hit the United States hard, the scientific community fears…
September 28, 2020
September 28, 2020
Continuing Economic Distress: Withholding Taxes and the Risk of “Self-Help”
Stimulus Legislation Limbo In has been 192 days since the President declared a national emergency concerning the COVID-19 outbreak.[i] Across…
September 21, 2020
September 21, 2020
The Threat of Higher Taxes, & The Sirens’ Song of Tax-Saving Schemes
What a Mess A “perfect storm” may be defined as a critical state of affairs arising from the convergence of…
September 14, 2020
September 14, 2020
NYC Real Estate: Post-Virus Tax Planning Can Help
NYC Real Estate on the Ropes In March of this year, the Department of Homeland Security classified real estate as…
September 08, 2020
September 08, 2020
Transfer of Funds between Related Entities – Indebtedness or Something Else?
A closely held business may come to our firm for any number of reasons. The owners may be selling the…
August 31, 2020
August 31, 2020
Responding to the Democratic Party’s Tax Plans
The Convention The Democratic Party’s “virtual” convention last week seems to have gone pretty well. All the stars of the…
August 24, 2020
August 24, 2020
Biden’s Tax Proposals for Capital Gain, Like Kind Exchanges, Basis Step-Up & the Estate Tax – Tough Times Ahead?
“The board is set. The pieces are moving. We come to it at last.” With these words, Gandalf the White…
August 17, 2020
August 17, 2020
Should Business Corporations Be More Charitable?
Today’s post briefly explores whether the term “corporate charity” is an oxymoron. It also tries to provide a framework for…
August 11, 2020
August 11, 2020
Virus to Economic Shutdown to Bankruptcy? Not Necessarily, But Be Prepared
Bankruptcy Resurgent? The economic shutdown, and the ensuing recession, triggered by the COVID-19 pandemic have jeopardized the survival of many…
August 03, 2020
August 03, 2020
An S Corporation in New York City: Eschew Obfuscation – Or Not
NYC: A “Helluva” Town, for S corps[i] Of late, I’ve received a surprising number of inquiries regarding the taxation of…
July 27, 2020
July 27, 2020
The Federal Anti-Deferral Rules for Foreign Income –Just a Reminder, There’s No Easy Way Out
It’s Complicated Coming to grips with the U.S. tax treatment of the foreign-sourced income of a closely held domestic business,…
July 20, 2020
July 20, 2020
Wealth Inequality, COVID-19, Recession, The 2020 Election & The Estate Tax
Politics and Wealth Inequality As we approach the presidential convention season,[i] and the election campaign that will follow, the thoughts…
July 13, 2020
July 13, 2020
Out of New York, But Still Being Taxed By New York? Look to the Source
New York Diaspora?[i] Like most every other state in the Union, New York has experienced its share of fiscal stress…
July 06, 2020
July 06, 2020
Compensating Management with Equity In the Post-COVID World
Business is back . . . Sort of As the country begins its hoped-for recovery from the disruptive economic effects…
June 29, 2020
June 29, 2020
Liquidating Trusts, Reopening the Economy, and Creditors’ Rights
Bad Times Of course, you’ve noticed that we’re in the midst of an economic mess. The nearly complete shutdown of…
June 22, 2020
June 22, 2020
The Like-Kind Exchange of “Real Property” According to the Proposed Regulations
The Taxable Exchange As a general rule, a taxpayer’s exchange of one property for another property is treated as a…
June 15, 2020
June 15, 2020
Conformity, the Lockdown, and New York’s Audit of Like-Kind Exchanges
Conforming About sixty years ago, New York revised its personal income tax law to achieve close conformity with the Federal…
June 08, 2020
June 08, 2020
“Family Investing” As a Trade or Business? In the Time of the Lockdown? Seriously? Life Goes On
Go Figure As of last Wednesday night, the SBA’s website reported that almost 4.5 million businesses had borrowed more than…
June 01, 2020
June 01, 2020
Deductions for PPP Covered Expenses – Almost There; How Will Your Business Use the Tax Savings?
What Did You Do Last Night? “Friday night, May 15 . . . You didn’t watch the roll call vote…
May 18, 2020
May 18, 2020
Opting Out of the PPP? There Are Some Tax Benefits to Consider
So Much Promise I am not embarrassed to say that I was excited at the introduction of the bill that…
May 11, 2020
May 11, 2020
PPP Loan Forgiveness and The Denial of Deductions for Covered Expenses – What’s Wrong with the IRS’s Position?
The Program The Paycheck Protection Program[i] has been welcomed by many as the cornerstone of the CARES Act.[ii] It was…
May 04, 2020
May 04, 2020
Tax Considerations as Businesses Prepare to Emerge from the COVID-19 Shutdown
We’ve Been Better On March 1, 2020, New York had its first confirmed case of the coronavirus.[i] On March 6,…
April 28, 2020
April 28, 2020
“Give and It Shall Be Given Unto You” – ? – Charitable Giving After the CARES Act
The Code as a Tool The Internal Revenue Code is one of the tools employed by Congress to encourage certain…
April 20, 2020
April 20, 2020
Real Estate, CARES and Taxes: The Response to COVID-19
The Coronavirus Aid, Relief and Economic Security (“CARES”) Act became law[i] on March 27, 2020. Almost immediately, “small” businesses[ii] from…
April 13, 2020
April 13, 2020
Extended Filing and Payment Deadlines for Federal Transfer Taxes
The IRS has determined that any person required to pay Federal gift tax or generation-skipping transfer tax or to file…
March 31, 2020
March 31, 2020
Think Before You Gift, But Don’t Take too Long
Optimal Timing? During the last twenty years, there have been a number of times during which the owners of closely…
March 30, 2020
March 30, 2020
Coronavirus & Business Losses: Suspend or Repeal – The TCJA Loss Limitation Rules
The Lockdown We are in a Coronavirus-induced lockdown. Most places of business are either closed or are open on a…
March 23, 2020
March 23, 2020
Recapitalizing Debt To Defer Payment of the Estate Tax – Good Idea?
Estate Planning 101 A basic precept of effective estate planning is for a member of an older generation to transfer[i]…
March 16, 2020
March 16, 2020
One Corporation, One Property, Two Shareholders – Can They Be Separated? Without Tax?
A Basic Principle Do you remember the scene from “History of the World Part I” when Mel Brooks, in the…
March 09, 2020
March 09, 2020
Reliance on the Tax Adviser – There Are Limits
We’re well into the income tax return “preparation-n-filing” season. It’s the time of year during which many businesses and their…
March 02, 2020
March 02, 2020
Sometimes, You Want To Be “At Risk” – Even In Healthcare
Keeping It Real Contrary to what has long been an all-too-popular belief,[i] there is a method to the Code. That…
February 24, 2020
February 24, 2020
Where New York State and City Transfer Taxes Meet: Does A Lease Make Sense?
When It Rains Sometimes you go for weeks without having to consider a particular tax issue in any depth. Then,…
February 18, 2020
February 18, 2020
Sale of Stock + Target’s Capitalized Costs = Creation of Intangible? Nope
Sale of Stock Ask a business owner to identify the parties to an agreement for the purchase and sale of…
February 10, 2020
February 10, 2020
States’ Rights, State Taxation, And . . . New York “S” Elections?
How Did We Get Here? On September 9, 1776, Congress officially adopted “United States” of America as the name of…
February 03, 2020
February 03, 2020
C’mon New York, Give Me Some Credit
The State of NY Tax Last week, New York’s Governor Cuomo released his proposed budget for the State’s 2021 fiscal…
January 27, 2020
January 27, 2020
When Limited Liability Yields To Transferee (Personal) Liability
“Limited Liability” The experienced or well-informed investor recognizes that there is an element of risk in every business venture. They…
January 20, 2020
January 20, 2020
Taxation of a Medical Marijuana Business – How Will the Ninth Circuit Hold?
The Stage is Set On December 3, 2019, Taxpayer timely[i] filed a notice of appeal from a decision of the…
January 07, 2020
January 07, 2020
Taxpayer: “It’s Worthless” IRS: “Wrong, We See Value There” Is Value in the Eye of the Beholder?
“Ten, Nine, Eight . . .” This is the final weekend of the final month of the final year of…
December 30, 2019
December 30, 2019
Carried Interest, Qualified Small Business Stock, And Excluded Gain: So Happy Together?
Water, Water Everywhere, Nor Any Drop to Drink[i] At the beginning of every week, after posting that week’s article, I…
December 23, 2019
December 23, 2019
Sale of a Contract: Ordinary v. Capital – Round Two
A couple of years ago, this blog carried an article that briefly considered whether the gain realized by a taxpayer…
December 16, 2019
December 16, 2019
The Death of a Partner: Out With the Old Taxable Year, In With the New?
I once heard it said that death keeps no calendar.[i] That may be, but it can sure unsettle a partnership’s…
December 09, 2019
December 09, 2019
Business Donates Partnership Interest to Charity, Partnership Sells Real Property, NYC Taxes Charity on the Sale?
“Charitable Behavior” Our society is fortunate that so many business owners are charitably inclined. In many cases, their charitable activities…
November 25, 2019
November 25, 2019
When a New York Exempt Resident Trust Meets the Sale of a Business
Imagine, if you will, the owner of a closely held business. Although the business has done well, the owner believes…
November 12, 2019
November 12, 2019
I Own the Business, The Business Owns the Assets, I Own the Assets, Right?
Personal Use of Business Assets “But it’s my business. I own it.” How many times have you heard this response…
November 04, 2019
November 04, 2019
Tax-Free Spin-Off? That May Depend . . . On Post-Spin-Off Events
The Break-Up After a tense period of disagreement and stalemate, the threaten of litigation,[i] the ensuing economic and emotional stress,…
October 21, 2019
October 21, 2019
Statutory Resident? Selling Your New York Business? Welcome to Double Taxation?
General Principles Many business owners who reside in New York, and whose business is headquartered in the state, pay income…
October 15, 2019
October 15, 2019
Valuation, Hindsight, and Taxes
The Benefit of Knowing Monday morning quarterbacking – the connotations are anything but positive. Life is full of instances in…
October 07, 2019
October 07, 2019
Taxable M&A and the Unwanted Asset
Under One Roof I sometimes wonder at the number of corporations that own real property. It is often the case…
October 01, 2019
October 01, 2019
PE Fund, Foreign Investor, No Blocker, & Partnership Rollover – Hiccup?
Most transactions have their share of hiccups. Some cases are more serious than others. Generally speaking, they originate with the…
September 23, 2019
September 23, 2019
Statutory Residence in NY: The “Permanent Place of Abode” Test Is in Need of Repair
Moving To Florida? A few days ago, one of the daily tax services reported that the billionaire investor and businessman,…
September 16, 2019
September 16, 2019
Selling S Corporation Stock – Are You Sure?
Still a Valid S Corporation? Much has been written regarding the limitations of the S corporation, especially the requirement that…
September 09, 2019
September 09, 2019
Gifting Business Interests: Will the Parent’s Tax Treatment Be Visited Upon the Child?*
The Tax Gene? King of Swamp Castle: One day, lad, all this will be yours. Prince Herbert: What, the curtains?…
September 03, 2019
September 03, 2019
Valuing Closely Held Businesses: The Reality of Economic Control?
A Time for Planning? It’s late August – again. As usual, many business owners are looking forward to having all…
August 26, 2019
August 26, 2019
Employer-Related Scholarships & The Closely Held Business
Education Equals Indebtedness? We’re more than halfway through the month of August and many college students are returning to their…
August 19, 2019
August 19, 2019
Closely Held C Corporations, Constructive Dividends, and More
Choice of Entity The owners of a closely held business are generally free to select the form of business entity…
August 12, 2019
August 12, 2019
Business Succession and Trust Fund Taxes: Lessons for Owners and Their Beneficiaries?
Teach Your Children Well [I] It may be the dream of every parent who owns a closely held business that…
July 22, 2019
July 22, 2019
Escape from New York — It Will Cost You
If I Had a Dollar . . . How many times have you sat with a client who wants to…
July 16, 2019
July 16, 2019
Monetized Installment Sales: What Are They About?
Too Good . . .? What if I told you that you could sell your property today, receive cash in…
July 01, 2019
July 01, 2019
The Pervasive Related Party Rule And the Like Kind Exchange
Counting Days Do you know what June 29, 2019 is? Of course you do. It’s a Saturday. It’s also the…
June 24, 2019
June 24, 2019
S’s, ESBT’s, NRA’s – AOK?
Letters, acronyms, initialisms[i] – they seem to slip into every post these days. It has always been a goal of…
June 18, 2019
June 18, 2019
“Checking the Box” – For a Pass-through Entity In Bankruptcy?
Tax and bankruptcy: “Can two divorced men share an apartment without driving each other crazy”[i] or “Two great tastes that…
June 10, 2019
June 10, 2019
Stock Sales and Employee-Minority Shareholders: What Does It Take to Make a Deal?
If you’ve been representing closely held businesses long enough, then the “conversation transcribed” below should sound familiar to you. I…
June 03, 2019
June 03, 2019
The Section 199A Deduction & Effectively Connected “Foreign” Income
It’s Not Easy The owners of many closely held businesses recently filed federal income tax returns on which they claimed,…
May 29, 2019
May 29, 2019
Is Timing Everything? Only Time Will Tell: Small Business Stock and the Reduced Corporate Tax Rate
The Tax Law In theory, the primary purpose of the income tax, as a body of law, is to raise…
May 20, 2019
May 20, 2019
Guarantees: Tax Considerations and Surprises
Don’t Take It Lightly Regardless of who or what they are, taxpayers have to be careful of saying things like,…
May 13, 2019
May 13, 2019
Determining the Value of an S Corp
Beyond Income Tax Over the last several weeks, we have explored various aspects of the choice of entity dilemma that…
May 06, 2019
May 06, 2019
Insured to Captive: “More, Charge Me More, Charge Me More . . .” Premiums?*
It’s Not All About 2017 A casual review of the recent tax literature may leave a “lay person” with the…
April 29, 2019
April 29, 2019
Post-2017: Is It Time To Kick Your Corporation’s “S”?
Choice of Entity Following the enactment of the Tax Cuts and Jobs Act,[i] tax advisers were inundated with inquiries from…
April 22, 2019
April 22, 2019
Current Distributions & Partial Liquidations: Corps vs. Partnerships
“You Must Choose, But Choose Wisely.”[I] The enactment of the Tax Cuts and Jobs Act,[ii] and its undeniable bias in…
April 16, 2019
April 16, 2019
Checked the Box? Feeling GILTI Now?
Once Upon A Time I recently recalled a client that was referred to us a few years back, shortly before…
April 08, 2019
April 08, 2019
Deferring Real Property Gain: Like Kind Exchange or Opportunity Fund? (Part II)
Yesterday, in Part I, we reviewed the like-kind exchange rules. https://www.taxlawforchb.com/2019/04/deferring-real-property-gain-like-kind-exchange-or-opportunity-fund-part-i/ Now we turn to the new kid on the…
April 03, 2019
April 03, 2019
Deferring Real Property Gain: Like Kind Exchange or Opportunity Fund? (Part I)
The Act Among the business transactions on which the Tax Cuts and Jobs Act[i] has had, and will continue to…
April 02, 2019
April 02, 2019
Succession Planning and Charitable Bequests: It Pays to Sweat the Details
After Me, Who Cares? In the context of a family-owned business, managerial succession and the transfer of ownership – not…
March 25, 2019
March 25, 2019
U.S. Individuals Electing to be Treated as Corporations: American Werewolves?
The Tax Cuts and Jobs Act[i] has been called a lot of things by a lot of different people.[ii] Certain…
March 19, 2019
March 19, 2019
Choice of Entity? I Choose A . . . No, I Meant B . . . Wait, Can I Try Again?
Choice of Entity The owners of a closely held business will confront many difficult decisions during the life of the…
March 11, 2019
March 11, 2019
New York City’s Unconscionable . . . Unexpected . . . Unincorporated Business Tax – A Glimpse of Things to Come?
Hell of a Town Ask most New Yorkers what New York City has in abundance and you’ll get responses that…
March 04, 2019
March 04, 2019
Timing the Sale of a Business . . .To Maximize the Sec. 199A Deduction?
Yes, it sounds odd. It is also seems to be at odds with this blog’s constant refrain of “Thou shalt…
February 25, 2019
February 25, 2019
Establishing Taxpayer Intent – Why It Matters
“You Know What I Meant” In order to determine the income tax consequences of a given transaction, a court must…
February 19, 2019
February 19, 2019
A Closely Held Qualified Opportunity Fund? It’s Possible, But It’s Not Easy
Committed to a Zone Last week’s post[i] considered how the newly-enacted qualified opportunity zone (“QOZ”) rules seek to encourage investment…
February 11, 2019
February 11, 2019
Sale of a Business and Qualified Opportunity Funds: Deferral, Exclusion, and . . . Risk?
A lot has been written about the tax benefits of investing in a Qualified Opportunity Fund. Some have suggested that…
February 05, 2019
February 05, 2019
Rental Real Estate and the Sec. 199A Deduction: Round Two
Shortly after Section 199A was added to the Code at the end of 2017, and again after the IRS proposed…
January 29, 2019
January 29, 2019
“It’s Ordinary Income – No, I Meant to Say Capital Gain”
We Want You One of the most challenging problems facing a business is how to attract, and then retain, qualified…
January 22, 2019
January 22, 2019
It’s a Business . . . No, It’s a Charity . . . Wait – It’s a Charity That Is Treated Like a Business?
The Business-Charity Connection As our readers know, this blog is dedicated to addressing the tax-related business and succession planning issues…
January 15, 2019
January 15, 2019
Unwinding an Unwanted Transaction
Rescission As kids playing ball, we learned about the “do-over” rule, pursuant to which the player in question was allowed…
January 07, 2019
January 07, 2019
All in the Family: The Closely Held Business, the Private Foundation and Indirect Self-Dealing
Home for the Holidays? Our last post considered the division of a business between family members as a means of…
January 02, 2019
January 02, 2019
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
December 07, 2018
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
November 26, 2018
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
November 19, 2018
The Nonresident Taxpayer vs New York – “Know When to Fold ‘Em”[i]
NY’s Tax Jurisdiction Last week we considered New York’s “statutory residence” rule pursuant to which an individual domiciled outside of…
November 13, 2018
November 13, 2018
Doing Business in New York? Domiciled Elsewhere? Paranoid over New York Residency Status?
Welcome (?) to NY The Tax Foundation recently issued its annual State Business Tax Climate Index. The 2019 Index compares…
November 05, 2018
November 05, 2018
Family Limited Partnerships – They’re Still Out There (?)
Dr. Wallace Wrightwood: “You’ve seen hundreds, thousands of pigeons, right?” George Henderson: “Of course.” Dr. Wallace Wrightwood: “Have you ever…
October 30, 2018
October 30, 2018
Split-Dollar Life Insurance and S Corps: Distribution or Compensation?
How Does It Work? Many employers struggle to hire and retain key employees. In addressing this challenge, employers will sometimes…
October 22, 2018
October 22, 2018
Corporate Distribution: Return of Capital or Capital Gain?
Ode to a Dividend It sounds relatively simple: A distribution of property made by a regular “C” corporation to…
October 17, 2018
October 17, 2018
Assignment of Income And Charitable Contributions of Closely Held Stock
But I Don’t Want to Pay Any Taxes! I was recently speaking to an older client who told me that…
October 08, 2018
October 08, 2018
Private Foundations and Business Ownership: A New Day?
Many not-for-profit organizations are dependent, in no small part, upon the generosity of successful businesses and their owners. The latter…
October 01, 2018
October 01, 2018
Employment Taxes: Reliance, “Disability” and Reasonable Cause
“Life” Goes On In light of all the attention given to the reams of regulations recently proposed under the Tax…
September 24, 2018
September 24, 2018
The Section 199A Deduction . . . and M&A?
I realize that the last post began with “This is the fourth and final in a series of posts reviewing…
September 17, 2018
September 17, 2018
The Proposed Sec. 199A Regs Are Still Here! Part Four
This is the fourth[i] and final in a series of posts reviewing the recently proposed regulations (“PR”) under Sec. 199A…
September 11, 2018
September 11, 2018
The Proposed Sec. 199A Regs Are Here! Part Three
This is the third in a series of posts reviewing the recently proposed regulations (“PR”) under Sec. 199A of the…
September 06, 2018
September 06, 2018
The Proposed Sec. 199A Regs Are Here! Part Two
This is the second in a series of posts reviewing the recently proposed regulations (“PR”) under Sec. 199A of the…
September 05, 2018
September 05, 2018
“The Proposed Sec. 199A Regs are Here!”[*] Part One
What follows is the first in a series of posts that will review the long-awaited proposed regulations under Sec. 199A…
September 04, 2018
September 04, 2018
Bonus Depreciation: Proposed Regulations and M&A
Earlier this month, the IRS proposed regulations regarding the additional first-year depreciation deduction that was added to the Code by…
August 27, 2018
August 27, 2018
Tax Treatment of Success-Based Fees in M&A
Transaction Costs It is a basic principle of M&A taxation that the more a seller pays in taxes on the…
August 20, 2018
August 20, 2018
More Related Party Transfers
Last week, we considered the proper tax treatment for a transfer of funds from a parent corporation to its…
August 13, 2018
August 13, 2018
Related Company Transfers: Debt or Equity? Capitalized or Expensed?
It is often difficult to determine the proper tax treatment for the transfer of funds among related companies, especially when…
August 06, 2018
August 06, 2018
Shareholders, Transferee Liability, And Corporate Income Tax
The Corporate “Shield” Ask any shareholder of a closely held corporation whether they may be held liable for the tax…
July 30, 2018
July 30, 2018
It’s Not an LLC, It’s Not an LP, But Is it a Partnership?
One of the thorniest tasks to confront a tax adviser may be having to determine whether the business or investment…
July 23, 2018
July 23, 2018
Shareholder Oppression, S Corps, & A Second Class of Stock?
Woe to the Oppressed Shareholder As I write this post on Bastille Day, I am reminded how an oppressed people,…
July 16, 2018
July 16, 2018
Obtaining Tax Return Information: Taxpayer’s Standing, and Timely Requests
Tax Returns Are Like Paintings [I] A not insignificant portion of our tax practice involves disputes among the shareholders and partners…
July 09, 2018
July 09, 2018
Choice of Entity, Shareholder Disputes, and the Discovery of Tax Returns
Decisions, Decisions The reduction in the Federal income tax rate for C corporations, from a maximum of 35-percent to a…
July 02, 2018
July 02, 2018
Cannabis, Business Expenses, and the Code
Last week’s post may have left some readers feeling lightheaded or anxious. [1] It is highly unlikely that this week’s post…
June 25, 2018
June 25, 2018
S Corps, CFCs & The Tax Cuts & Jobs Act
Pro “C” Corporation Bias? Although closely-held businesses have generally welcomed the TCJA’s[i] amendments to the Code relating to the taxation…
June 18, 2018
June 18, 2018
Learning from the Mistakes of Other Taxpayers
“You Mess with the Bull . . .” An often-explored theme of this blog is the frequency with which similarly…
June 04, 2018
June 04, 2018
Debt . . . Worthless Debt . . . No Debt at All?
It is said that repetition is the mother of all learning. It is also said that insanity is repeating the…
May 29, 2018
May 29, 2018
Shifting Business Activities Between Related Entities?
Metamorphosis [i] By now, most readers have heard about the benefits and pitfalls of “checking the box” or of failing…
May 21, 2018
May 21, 2018
The New York Business And Changing Domicile – “Let it Go, Let it Go”
“Leaving” the Business There is a common theme that runs through the history of most closely held businesses. It begins…
May 14, 2018
May 14, 2018
Personal Liability for Sales Tax In N.Y. LLCs
“Personal liability?!” the client screams. “For sales tax? How is that possible?” The look on their face is at…
May 07, 2018
May 07, 2018
You Can Lead Clients to Water, But You Can’t Make Them Drink
Will They Ever Learn? The following probably sounds familiar. You’re meeting with a new client who is being audited by…
April 30, 2018
April 30, 2018
Basis Consistency – Between Corporations and Shareholders?
Estates and Beneficiaries I recently encountered a situation in which the so-called “basis consistency” rule was implicated. This rule requires…
April 23, 2018
April 23, 2018
New York Reminds Us: “Sale of Intangible Property May be Taxable as Sale of Real Property”
New York’s legislature has been in the news lately after having “rotated an avian creature through more than 90 degrees”[1]…
April 16, 2018
April 16, 2018
Is it Debt or Equity? Is it a Dividend or Compensation? It Must be a Closely Held Business
I had a call a couple of weeks ago from the owner of a business. His brother, who owned half…
April 09, 2018
April 09, 2018
When Tax Truths Collide: “Disappearing” Basis?
How many times have you said to a client, “Please don’t agree to any deal terms until we’ve had a…
April 03, 2018
April 03, 2018
Have Your Business Do Onto You As You Would Have Your Business Do Onto Others (*)
Relationships are Hard The well-being of a closely held business is based, in no small part, upon a number of…
March 26, 2018
March 26, 2018
The Closely Held Business & the Minority Owner: Accessing Information from the Entity’s Tax Return?
Why a Minority Owner? I have often asked the question, “Why would someone willingly become a minority owner in a…
March 19, 2018
March 19, 2018
The Active Business Owner And Passive Real Property
Why Real Property? It is not unusual for the owners of a closely held business to also own a number…
March 12, 2018
March 12, 2018
Trusts and the Corporate Lawyer
Corporate attorneys usually think of trusts as estate planning tools: they are the vehicles through which the owner of a…
March 05, 2018
March 05, 2018
Capital Gain or Ordinary Income? Establishing Intent
Last week’s post considered the risk assumed by a taxpayer that ignores the plain meaning of a Code provision (the…
February 26, 2018
February 26, 2018
“Interpreting” the Code’s Plain Text
What Does It Mean? The Tax Cuts and Jobs Act[1] has now been in effect for fifty days. During this…
February 20, 2018
February 20, 2018
When is a Shareholder’s “Loan” to An S corporation Really a Loan?
Passing Through Losses There is a problem that will sometimes plague the shareholders of an S corp that is going…
February 12, 2018
February 12, 2018
Permanent Place of Abode, Proximity to One’s Business, and N.Y. Residence
“Life” Goes On Over the last month or so, most of the nation’s tax practitioners have been devoting an extraordinary…
February 05, 2018
February 05, 2018
U.S. Taxation of Foreign Income After Tax Reform
We’ve all heard about the profits that publicly-held U.S. corporations have generated overseas, and how those profits have, until now,…
January 30, 2018
January 30, 2018
Will Tax “Reform” Affect Domestic M&A?
Perhaps the single most important day in the life of any closely held business is the day on which it…
January 22, 2018
January 22, 2018
The Real Property Business and the Tax Cuts & Jobs Act
Introduction The Tax Cuts and Jobs Act of 2017[1] went into effect only two weeks ago. Many of its provisions…
January 16, 2018
January 16, 2018
The Federal Estate Tax Lives On, But “Where, O death, is your sting?” (*)
When the Tax Cuts and Jobs Act[1] was introduced on November 2, 2017, perhaps the single most important issue on…
January 10, 2018
January 10, 2018
Some of the TC & JA’s Corporate Tax Changes
Our last three posts focused on those provisions of the Tax Cuts and Jobs Act[1] that apply specifically to pass-through…
January 09, 2018
January 09, 2018
The 2017 Tax Act: Other “Pass-Through” Tax Provisions – Part II
Yesterday’s post examined various changes to the taxation of S corporations, partnerships, and their owners. Today, we will focus on…
January 04, 2018
January 04, 2018
The 2017 Tax Act: Other “Pass-Through” Tax Provisions – Part I
Our last post reviewed the “20% deduction” that may now be available to the owners of certain pass-through entities based…
January 03, 2018
January 03, 2018
The New Deduction for “Qualified Business Income”: Tax Simplification Gone Awry?*
In the weeks preceding the introduction of the bill that was just enacted as the Tax Cuts and Jobs Act…
December 27, 2017
December 27, 2017
Revoking S Corp. Status: A Fraudulent Conveyance?
Worlds Collide? I like to tell my partners that there are Codes (upper case “C”), and there are codes (lower…
December 18, 2017
December 18, 2017
Trust Fund Tax: Responsible = Liable (?)
Some shareholders are content with being wholly passive investors in a corporation. Others desire some degree of participation in the…
December 11, 2017
December 11, 2017
Information Reporting for the Foreign-Owned Not-So-Disregarded Disregarded Entity
Ah, December As we near the end of the taxable year ending December 31, 2017, the thoughts of most people…
December 04, 2017
December 04, 2017
Minority Owner Or No Owner at All?
Old Dog, New Tricks? It’s a concern for every new investor in a closely held business: will the founding owners…
November 27, 2017
November 27, 2017
S Corp. Shareholder to Tax Court: “Here’s Why I Deserve These Loss Deductions”
A post earlier this year considered the basis-limitation that restricts the ability of S corporation shareholders to deduct their pro…
November 20, 2017
November 20, 2017
LLC-to-Partnership Conversion: There’s More to it Than Meets the Eye
Some Days Are Stones[1] It’s not always easy to find a topic about which to write a weekly blog post.…
November 13, 2017
November 13, 2017
Rental Income or Self-Employment Income?
Skirting Employment Tax? The Code imposes the self-employment tax on the net earnings from self-employment derived by an individual during…
November 06, 2017
November 06, 2017
The New Partnership Audit & Collection Regime: Its Time Has Come
Beginning 2018, the IRS is authorized to collect from a partnership any tax deficiencies arising out of the partnership’s operations…
October 30, 2017
October 30, 2017
Determining the Appropriate Fee For Services Rendered to a Related Company
This week, we return to two recurring themes of this blog: (I) related party transactions – specifically, transactions between a…
October 23, 2017
October 23, 2017
Checking the Box, Partnership Allocations, and Foreign Law
Many of our clients, most of which are closely-held U.S. businesses, are looking to expand their operations overseas. Some are…
October 16, 2017
October 16, 2017
“Constructive Gifts” & The Partnership Allocation Rules
Relief? Not So Fast You may recall that the President directed the Treasury Department to identify “significant tax regulations” issued…
October 09, 2017
October 09, 2017
Thou Shalt Not Hold Real Property In a Corporation
“When will they ever learn?” No, I am not channeling Seeger. I am referring to those individuals[i] who continue to…
October 02, 2017
October 02, 2017
Debt vs. Equity: Form & Substance Matter
Some lessons need to be repeated until learned. It’s a basic rule of life. Don’t tug on Superman’s cape; don’t…
September 25, 2017
September 25, 2017
Liquidating a Partnership Interest? Beware the Effects of Partnership Indebtedness
Setting the Stage Over the last couple of months, I’ve encountered several situations involving the liquidation of a partner’s interest…
September 18, 2017
September 18, 2017
Withdrawing Your Business from New York? Did You Pay the Exit Tax?
Departing Individuals Many of you may know that an individual who changes his status from New York (“NY”) resident to…
September 11, 2017
September 11, 2017
Relief for Late Partnership Filings
Oops? Are you a member of a partnership or of a limited liability company that is treated as a partnership…
September 05, 2017
September 05, 2017
“S” Corporation Status, For an LLC?
Choice of Entity One of the first decisions – and certainly among the most important – that the owner of…
August 28, 2017
August 28, 2017
Taxpayers Bear the Tax Consequences of Business Decisions
Form v. Substance It is a basic precept of the tax law that the substance of a transaction, rather than…
August 21, 2017
August 21, 2017
When a Partner May Not Be Acting As a Partner
It is not uncommon for a partner to engage in a business transaction with a partnership of which he is…
August 14, 2017
August 14, 2017
Controlled Foreign Corporation: Neither a Lender, Guarantor, nor Pledgor Be?
Last week, we considered the U.S. taxation of a closely held foreign corporation that owned a minority interest in a…
August 07, 2017
August 07, 2017
Foreigner’s Sale of Partnership Interest: Not Taxable
Coming to America Whether they are acquiring an interest in U.S. real property or in a U.S. operating company, foreigners…
July 31, 2017
July 31, 2017
Reorganization of Insolvent Corporations: Has A New Day Dawned? Nope
Withdrawal of Proposed Regulations Earlier this year, the President directed the Secretary of the Treasury to review all “significant tax…
July 24, 2017
July 24, 2017
Employee Loan or Compensation?
A Borrower and a Lender Be Everyone recognizes the importance of debt financing to a business. The business needs liquidity…
July 17, 2017
July 17, 2017
Sale of A Contract: Capital Gain or Ordinary Income?
Maximize Capital Gain In the sale of a business, it is the goal of every business owner and his tax…
July 10, 2017
July 10, 2017
“Abandonment of a Partnership Interest,” or “When a Taxpayer Rejects Its Tax Return Position”
“Disposing” of a Partnership Interest If the amount realized by a taxpayer upon the sale of a partnership interest to…
July 05, 2017
July 05, 2017
Deducting Payments Between Related Parties
Potential for Abuse Many years ago, Congress decided that taxpayers who were “related” to one another should be required to…
June 26, 2017
June 26, 2017
Unreasonable Compensation & The Family Business
“Add-Backs” In the course of valuing a target business, a potential buyer will want to develop an accurate picture of…
June 19, 2017
June 19, 2017
Self-Employment Tax, LLCs, & The “Limited Partner” Exclusion
Introduction In general, self-employed individuals are subject to employment taxes on their net earnings. The wages paid to individuals who…
June 12, 2017
June 12, 2017
Contributing Encumbered Assets: Partnership Disguised Sale Rules
Many of our posts this year have considered some of the unique issues that are presented by a partner’s contribution…
June 05, 2017
June 05, 2017
Restricted Stock & Employee-Shareholders
Close Corporations and Compensatory Grants of Equity It should come as no surprise to readers of this blog that I…
May 30, 2017
May 30, 2017
Guidance for North-South Spinoffs
The IRS continues to issue guidance in the much debated area of corporate spinoffs. A recently published ruling examined the…
May 22, 2017
May 22, 2017
Why Care About Business Valuation? Part II
Missed Part I? Check it out here! “Related Party” Transactions Transfer Pricing Valuations figure prominently in determining the proper tax…
May 16, 2017
May 16, 2017
Why Care About Business Valuation? Part I
One word: “taxes.” There are so many transactions in which the tax consequences visited upon a closely-held business and its…
May 15, 2017
May 15, 2017
Paying The Estate Tax
An Unreasonable Burden? One of the reasons often given in support of the elimination of the estate tax is the…
May 08, 2017
May 08, 2017
S-Corps, Basis & Loss Limitations
In General It is a basic principle of federal tax law that a taxpayer cannot, for purposes of determining the…
May 01, 2017
May 01, 2017
Beyond Purchase Price: The Tax Treatment of M&A Deal Costs
Recovering Transaction Costs It is a basic tax principle that the more a seller pays in taxes on the sale…
April 24, 2017
April 24, 2017
Foreign Investment in U.S. Real Property: Gift And Estate Tax Considerations
Last week, we reviewed the various U.S. federal income tax consequences that may be visited upon a foreign person who…
April 17, 2017
April 17, 2017
Tax Considerations For The Closely-Held Foreign Investor In U.S. Real Property – Part II
Catching up? Start with Part I here. Sale of USRP – FIRPTA Aside from planning for the taxation of U.S.-sourced…
April 11, 2017
April 11, 2017
Tax Considerations For The Closely-Held Foreign Investor In U.S. Real Property – Part I
Over the last few years, we have received an ever-increasing number of inquiries from “foreigners” who are interested in acquiring…
April 10, 2017
April 10, 2017
Private Foundations: A Primer for the Business Owner
The Charitably-Inclined Business Many successful business owners attribute some part of their financial success to their community. The term “community”…
April 03, 2017
April 03, 2017
An Overview Of The NYC Business Tax Environment
NYC Never Sleeps – But It Does Tax “If I can make it there, I’ll make it anywhere.” So begins…
March 27, 2017
March 27, 2017
A Buyer’s Guide to Acquiring Target’s Assets With A Stepped-Up Basis
Oops The last few posts have focused upon the “tax-free” contribution of property to a partnership. Today, we’re “doing a…
March 20, 2017
March 20, 2017
Effecting Exchanges of Property Through a Partnership
A Continuing Investment In the last two posts, we saw how a Taxpayer who transfers Property A to a partnership…
March 13, 2017
March 13, 2017
Protecting Tax Deferral for A Contribution to A Partnership
Contributing Property to A Partnership When a taxpayer (“Taxpayer”) sells a property (“Property”) with a fair market value (“FMV”) in excess of Taxpayer’s…
March 06, 2017
March 06, 2017
When A “Tax Free” Exchange May Not Be Free of Tax
“Tax free” – two words that often bring great delight when they are spoken by a tax adviser to the…
February 27, 2017
February 27, 2017
N.Y.’s 2018 Budget Proposal: Tax Proposals To Watch
Last month, Governor Cuomo presented his budget proposal for NY State’s 2017- 2018 fiscal year. Included in the proposal were…
February 21, 2017
February 21, 2017
Reporting A Closely Held U.S. Corporation’s Overseas Activities
Looking Overseas We have heard a lot about large, publicly-traded U.S. corporations that have parked trillions of dollars overseas to avoid…
February 13, 2017
February 13, 2017
Shareholder Liability For Corporate Income Tax?
Limited Liability In general, the creditors of a corporation cannot recover the corporation’s debts from its shareholders—the shareholders enjoy the…
February 06, 2017
February 06, 2017
Rolling Over Target Equity Into A PE Fund: Part II
Roll-Over: Tax Issue Picking up on yesterday’s discussion, how can a PEF reconcile its preference to acquire a depreciable or…
January 31, 2017
January 31, 2017
Rolling Over Target Equity Into A PE Fund: Part I
For many business owners, the final step of a successful career may be the sale of their business. At that…
January 30, 2017
January 30, 2017
Loans Between Related Entities
What Was Intended? Over the last thirty years, I have reviewed the income tax returns of many closely held corporations…
January 16, 2017
January 16, 2017
When Investing In A Partnership May Be A Tax Problem
Double Taxation A business entity that is treated as a “flow-through” for income tax purposes enjoys the benefit of a…
January 09, 2017
January 09, 2017
Articles & Advisories
PPP Loan Portal Reopened for First- and Second- Draw Loan Applications
Today the U.S. Department of the Treasury and the U.S. Small Business Association (“SBA”) have fully reopened the Paycheck Protection…
January 19, 2021
Delayed But Not Forgiven: Examining Deferred 2020 Payroll Taxes in M&A Transactions
Due diligence is an essential activity for both buyer and seller success in an M&A transaction. The process allows parties…
November 09, 2020
Tax Considerations for LLC Operating Agreements
The operating agreement is the governing document with respect to the management and conduct of a limited liability company (an…
July 30, 2020
The PPP Loan: “Absolution” May Be Yours, But There is a Price
Surprise What were you doing on the afternoon of Friday, May 22, 2020? “Preparing” for the extended Memorial Day weekend,…
May 26, 2020
IRS Guidance Says No Deduction Is Allowed for Business Expenses Paid with Forgiven PPP Loans
Please see below for a memo prepared by the Congressional Research Service regarding the deductibility of ordinary business expenses paid using…
May 15, 2020
Update on Paycheck Protection Program Interim Rule
The CARES Act temporarily adds a new program, titled the “Paycheck Protection Program,” to the SBA’s 7(a) Loan Program. The…
May 14, 2020
New Employee Retention Credit Helps Employers Keep Employees on Payroll
The IRS released criteria for claiming the employee retention credit put forth in a fact sheet (see below). The credit…
May 08, 2020
Senate Bill Would Make Expenses Paid With PPP Loans Deductible
On May 6, 2020, a bipartisan group of senators introduced a measure – S.3612 – to clarify that the SBA’s…
May 07, 2020
CARES Act & the “Retail Glitch”
The IRS on Friday released Rev. Proc. 2020-25 to provide guidance for taxpayers who may benefit from the recent correction…
April 20, 2020
Temporary procedures to fax certain Forms 1139 and 1045 due to COVID-19
Fax Form 1139 and Form 1045 to Claim Quick Refunds of the Credit for Prior Year Minimum Tax Liability of…
April 20, 2020
News
Colleen Spain Recognized as a Contributing Editor in the American Bar Association’s 2023 Military Tax Guide
Farrell Fritz, P.C. Attorney Colleen Spain has been recognized for volunteering her time to contribute to the New York section…
March 22, 2023
Robert Creighton Featured in “What We’ll See in ’23”
Robert C. Creighton, Managing Partner of Farrell Fritz, shared his insights in a recent Long Island Business News feature, “What…
January 10, 2023
How Clients Can Take Advantage of The IRS Tax Appeals Process
Michelle E. Espey was quoted in a recent Financial Advisor Magazine article on the IRS tax appeals process. “One of…
October 25, 2022
Surviving Spouses Pose Tricky Relationships For Advisors
The death of a spouse can lead to complex circumstances for advisors if a wealthy survivor never had much to…
August 16, 2021
Who’s Who in Women in Professional Services – Michelle Espey
Michelle E. Espey is a partner in the tax group at Farrell Fritz, P.C. in Uniondale. Espey counsels clients on…
September 02, 2020
Press Releases
Michelle E. Espey Has Been Elected as a New York Bar Foundation Fellow
Farrell Fritz is pleased to announce that Michelle E. Espey has been named a Fellow of The New York Bar…
January 04, 2022
Queens Botanical Garden’s Board of Trustees Welcomes Four New Members
Queens Botanical Garden’s Board of Trustees welcomed four new members to its team who will apply their expertise, leadership, and…
February 22, 2021
Farrell Fritz Promotes Two Attorneys in Its Uniondale Office
Farrell Fritz is pleased to announce the promotions of Bernadette T. Kasnicki and Irene A. Zoupaniotis to counsel effective January…
January 04, 2021
30 Farrell Fritz Attorneys Recognized as 2020 Leading Lawyers in Their Respective Areas of Practice
Farrell Fritz has a combined total of 30 attorneys selected to the 2020 New York Metro Super Lawyers and New…
November 04, 2020
18 Farrell Fritz Attorneys Recognized as 2021 Leading Lawyers by Best Lawyers
Farrell Fritz congratulates twelve attorneys on being selected by their peers for inclusion in The Best Lawyers in America© 2021.…
August 20, 2020
Michelle E. Espey Joins Farrell Fritz’s Tax Department as Partner
Farrell Fritz is pleased to welcome Michelle E. Espey to its Uniondale office as a tax partner. Michelle counsels clients…
December 05, 2019
29 Farrell Fritz Attorneys Recognized as 2019 Leading Lawyers in Their Respective Areas of Practice
Farrell Fritz has a combined total of 29 attorneys selected to the 2019 New York Metro Super Lawyers and New…
September 17, 2019
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
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
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
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
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
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
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
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
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
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
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
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
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