Does the Pied-a-Terre Tax Apply to Real Property Owned by a Statutory Resident of NYC?
August 25, 2026 | Louis Vlahos | Uncategorized
Best of Times You landed a hard-to-come-by position at a prestigious Manhattan-based company. The hours spent at the office, including most weekends and many holidays, were outrageous by any reasonable person’s measure. Your combined federal, New York State and City income tax burden[i] was hefty, and the cost of living…
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Identifying “Limited Partners” for the Exclusion from Self-Employment Tax – The Fifth Circuit Changes its Mind…Sort of
August 20, 2026 | Louis Vlahos | Uncategorized
An About-Face? Earlier this year, the federal Court of Appeals for the Fifth Circuit[i] ruled that the U.S. Tax Court had misinterpreted the Code’s self-employment tax rules as they apply to individuals who hold limited partnership interests in a state law limited partnership, notwithstanding that such individuals also render services…
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When a Non-Shareholder Contributes Capital to a Corporation
August 03, 2026 | Louis Vlahos | Income Tax
Basic Principles What does the term “gross income” mean to you? For most folks, it refers to the amount of money that is paid to someone in exchange for their services or property, or for the use of their property. The Code describes the gross income of a taxpayer more expansively…
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Standing at 21
July 29, 2026 | Louis Vlahos | Uncategorized
I’m delighted to share that FeedSpot has ranked TaxSlaw 21 in its list of the 100 Best Tax Blogs to Follow in 2026. This blog is a labor of love, and it feels good to know that my weekly efforts have gained some recognition. Sending a special thank you to my…
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Congress’s Continuing Quest to Restrict Executive Compensation at Charitable Organizations, With a Twist
July 21, 2026 | Louis Vlahos | Federal | Tax Exempt Organizations
The Latest The IRS recently announced its intention to propose regulations relating to the 21 percent tax[i] imposed with respect to any “excess” executive compensation paid by certain tax-exempt organizations, including public charities and private foundations (i.e., charitable organizations),[ii] to their covered employees.[iii] This news followed by almost a year…
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Applying New York’s Convenience Rule to a Former Resident, Truly Remote Non-Resident Employee
July 08, 2026 | Louis Vlahos | Business | Income Tax | New York State
Can It Get Worse? I’m certain that most of us were disappointed with the Appellate Department’s decision last week in Prof. Zelensky’s continuing dispute with New York over its application of the notorious “convenience of the employer” test;[i] disappointed, but not entirely surprised.[ii] One can still hope that the Courts…
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With Tax Increases Lurking Just Over the Horizon, and With Large Dispositions of Wealth Underway, Now’s the Time to Identify and Correct Earlier Missteps
June 30, 2026 | Louis Vlahos | Business | Estate | Federal
Here It Comes According to many, the long-awaited intergenerational transfer of assets from the Baby Boomer generation, and from what remains of the Silent Generation, to younger members of their families[i] – estimated by some to exceed $100 trillion in total, worldwide, over the next two decades – is well…
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When is a Remote Employee Not Remote Enough to Escape New York Tax?
June 24, 2026 | Louis Vlahos | New York State | State Tax Issues
A client tells you that many, if not most, of their employees work remotely. How would you interpret that statement? It’s a matter of context, right? In most cases it suggests that the employer-client has some sort of hybrid arrangement with their employees that requires them to be present at…
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If I Own the Corp, and the Corp Owns the Assets of the Business, Aren’t  Those Assets Mine?
June 18, 2026 | Louis Vlahos | Business
Personal Use “But it’s mine!” That’s not some toddler speaking. You’ve just advised an entrepreneurial client for the “Nth” time that they should not treat the corporation[i] they control, and out of which they operate their business, as their personal bank account. Such behavior may jeopardize the limited liability protection that…
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“For Want of a Nail” – A Poor Reason to Lose a Charitable Contribution Deduction
June 11, 2026 | Louis Vlahos | Federal | Income Tax
Encourage But Verify “It is more blessed to give than to receive.”[i] Undoubtedly, you’re familiar with the foregoing proverb that seeks to encourage “charitable behavior” among the members of society, and to dissuade them from pursuing only their innately selfish proclivities.[ii] The Code recognizes the conflict that an individual taxpayer…
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