How Tax Works

Nov 12 2024 12 ep. 25 mins 4
How Tax Works Podcast artwork

Join host Matthew Foreman, Co-Chair of Falcon Rappaport & Berkman’s Taxation' Practice Group, on "How Tax Works," a podcast attempting to unravel the complexities of the tax law, caselaw, and guidance. In each episode, Matt simplifies this intricate labyrinth of tax law, breaking down complex concepts into easily digestible explanations. From understanding how tax considerations impact decision-making processes to dissecting the structural nuances of businesses, Matt sheds light on the oft-misunderstood world of taxation.

Through real-life examples, and practical advice, "How Tax Works" seeks to equip listeners with the knowledge they need to navigate the intricacies of taxation confidently. Whether you're an accountant, lawyer, business owner, or simply someone who wants to understand how tax shapes business and financial decisions, How Tax Works is your go-to resource for demystifying the complex that is taxation in America.

This podcast may be considered attorney advertising. This podcast is not presented for purposes of legal advice or for providing a legal opinion. Before any of the presenting attorneys can provide legal advice to any person or entity, and before an attorney-client relationship is formed, that attorney must have a signed fee agreement with a client setting forth the firm’s scope of representation and the fees that will be charged.

This Podcast is Hosted by:
Falcon Rappaport & Berkman LLP
1185 Avenue of the Americas, Third Floor
New York, NY 10036
(212) 203-3255
[email protected]

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Self-employment Tax on Partners, Net Investment Income Tax, and Soroban Capital Partners LP v. Comm’r (Part II)

Nov 12 2024 26 mins  
In this episode of How Tax Works, host Matt Foreman continues his discussion of self-employment taxes, the ongoing tax saga of a hedge fund’s partners trying to convince the IRS that they are “limited partners, as such”, and the somewhat-related Net Investment Income Tax. This episode is for anyone who is starting, operating, structuring, or wondering about how income tax str

Self-employment Tax on Partners, Net Investment Income Tax, and Soroban Capital Partners LP v. Comm’r (Part I)

Oct 28 2024 29 mins  
In this episode of How Tax Works, host Matt Foreman discusses self-employment taxes, the ongoing tax saga of a hedge fund’s partners trying to convince the IRS that they are “limited partners, as such”, and the somewhat-related Net Investment Income Tax. This episode is for anyone who is starting, operating, structuring, or wondering about how income tax structuring interplay

Tax Consequences of Forming, Selling, and Dissolving Partnerships and Disregarded Entities (Rev. Ruls. 99-5 and 99-6)

Oct 15 2024 22 mins  
In this episode of How Tax Works, host Matt Foreman discusses the tax consequences of going from a disregarded entity to a partnership (Rev. Rul. 99-5) and from a partnership to a disregarded entity (Rev. Rul. 99-6). From explaining when there is taxable income (and how to structure to avoid it), as well as capital accounts, inside basis, and outside basis, this episode is for anyo

Various State and Local Income Tax Issues

Sep 30 2024 25 mins  
In this episode of How Tax Works, host Matt Foreman discusses a variety of state and local income tax issues that commonly come up during sales/purchases, raising capital, and the general operation of a business that crosses state lines, such as sourcing, PTETs, and the quirks of local income taxes.Please also see Matt Foreman’s upcoming webinars! Links are below:Positives and Ne

Convertible Debt and SAFEs

Sep 16 2024 23 mins  
In this episode of How Tax Works, host Matt Foreman discusses the tax consequences of Convertible Debt and Simple Agreements for Future Equity (SAFE). From explaining what it means to use Convertible Debt and SAFEs, to the tax consequences of each, this episode is for anyone who is investing in a business in anything that is not strictly equity or debt.Please also see Matt Foreman'

Profits Interests, Promotes, and How to Structure Equity-based Compensation

Sep 03 2024 20 mins  
In a quasi-continuation of episode 6 of How Tax Works, host Matt Foreman discusses the most misunderstood and misapplied form of equity grants: Profits Interests. This episode is for anyone who wants to better understand promotes and springing interests, as well as anyone who wants to grant or receive equity in a way that does not require the immediate payment of taxes. How Tax Wor

Equity-based Compensation and 83(b) Elections

Aug 19 2024 24 mins  
In this episode of How Tax Works, host Matt Foreman discusses the tax consequences of equity compensation, including stock options (ISOs and NSOs), Stock Appreciation Rights and Phantom Stock, Restricted Stock Units, and Restricted Stock Awards, as well as when (and how!) you can and cannot make 83(b) elections. This episode is for anyone who wants to know what happens when their b

Ordinary & Necessary Business Expenses: Examples and What Not to Do

Aug 05 2024 22 mins  
In a continuation of episode 4, in this episode of How Tax Works, host Matt Foreman gives examples of what you can deduct as a business expense, including home office deduction, family trips to the Pumpkin Patch, hiring your children, and the so-called Augusta Rule. This episode is for business owners, attorneys, accountants, and their advisors, as well as anyone who has ever wonde

Ordinary & Necessary Business Expenses: IRC 162 and 212

Jul 22 2024 31 mins  
In this episode of How Tax Works, host Matt Foreman discusses what you can deduct as business expenses, giving an overview of the law, regulations, and case law, as well as practical commentary based on his experience. This episode is for business owners, attorneys, accountants, and their advisors, as well as anyone who has ever wondered either “can I deduct this?” or “should

Residency

Jul 08 2024 26 mins  
In this episode of How Tax Works, host Matt Foreman discusses state residency rules to determine where an individual is a resident for income tax purposes. Focusing on New York’s rules, Matt will discuss rules for residency, domicile, and how to change both. This episode is for business owners, attorneys, accountants, and their advisors, as well as the Franchise Tax Board of Cali