Practice Area: Tax Law

Update on Structured Attorney Fees

By

I recently wrote about structured legal fees for lawyers (see “Contingent Fee Tax Planning, Anyone?” NYSBA Journal, vol. 94, no. 5, Sept./Oct. 2022, p. 37). For nearly 30 years, plaintiff lawyers have been structuring contingent legal fees based on the seminal tax cases of Childs v. Commissioner.[1] Payments over time can flatten the peaks and … Continued

How a Housing Project, a Pancake House and Car Dealership Impacted Tax Certiorari Practice in the State of New York

By

In DCH Auto v. Town of Mamaroneck, the New York State Court of Appeals unanimously reversed the Appellate Division, Second Department, and held that a “net lessee contractually obligated to pay the real estate taxes of the subject property is included within the meaning of ‘the person whose property is assessed’ under [Real Property Tax … Continued

Contingent-Fee Tax Planning, Anyone?

By

If you’re careful, structured legal fees can allow tax-free compounding, defer taxes and help build a solid financial plan. There are estate planning advantages, too.

COVID-19 Is Causing Headaches Over Taxes

By

COVID-19 shut down offices and sent employees home to work  — often out of state — leaving a big question about state income taxes: Should they be paid where the employees are actually working, or where the employer is located? Alysse B. McLoughlin, a partner at McDermott Will & Emery in New York, led a … Continued

It’s Complicated: What Lawyers Need to Know About Taxes While Working Remotely

By

The shift towards remote work for millions of U.S. employees can have significant tax implications for businesses. There is potential long-term impact as employers rethink the need for expensive spaces and shift to partial or fully-remote workforces. Potential tax implications include payroll tax, corporate income and franchise tax, as well as taxes imposed based on … Continued