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How Tax Works
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, Suite 1415
New York, NY 10036
(212) 203-3255
info@frblaw.com
Episodes
52 episodes
QSBS Part VI: Why You Probably Shouldn’t Try to Qualify for the Exclusion Under Section 1202 of the IRC
In episode 52 of How Tax Works, Matt Foreman discusses why too many people are becoming too focused on the exclusion for QSBS, why many businesses shouldn’t bother restructuring to get QSBS, and the proper way to evaluate and balance the variou...
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Theft, Scam, and Casualty Losses
In episode 51 of How Tax Works, Matt Foreman discusses theft losses under section1 165 of the IRC, including pig butchering, rug pulls, and Ponzi schemes, discussing whether the losses are deductible and in what amounts
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Ferraris, Montana LLCs, and Use Taxes
In episode 50 of How Tax Works, Matt Foreman discusses Al Capone, bad tax advice from the internet, and a sports car, which is a mixture of that led to the arrest of a youtuber.
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Hobby Losses and How They Are Limited
In episode 49 of How Tax Works, Matt Foreman discusses hobby losses, which are a significant and often underappreciated limitation on the ability to deduct losses based on the taxpayer’s profit motive.
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Unrelated Business Taxable Income
In episode 48 of How Tax Works, Matt Foreman discusses Unrelated Business Taxable Income (UBTI), which is what can happen when nonprofit entities earn income from their operations, investments, and other sources.
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Substance Versus Form, Part II: The Step Transaction Doctrine
In episode 47 of How Tax Works, Matt Foreman continues his discussion of substance versus form issues, focusing on the Step Transaction Doctrine, discussing the three tests and how they’re used and misused.
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Substance Versus Form, Part I: The Economic Substance Doctrine
In episode 46 of How Tax Works, Matt Foreman begins his discussion of substance versus form issues, beginning with the Economic Substance Doctrine, from its beginnings in case law to its codification in I.R.C. ? 7701(o).
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Stock Sales Taxed as Asset Sales
In episode 45 of How Tax Works, Matt Foreman discusses how to have stock sales taxed as asset sales by using F Reorganizations, selling wholly-owned subsidiaries, and elections under 336(e) and 338(h)(10).
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Common Mistakes and Misconceptions Regarding Qualified Small Business Stock (QSBS) Under Section 1202
In episode 44 of How Tax Works, Matt Foreman discusses common mistakes, misconceptions, and missteps involving qualified small business stock (QSBS) under section 1202, including exclusion stacking, state issues, the use of partnerships, and ot...
Allocations Under IRC 704(c)
In episode 43 of How Tax Works, Matt Foreman discusses the three allowable methods Traditional, Traditional with Curative Allocations, and Remedial; the Ceiling Rule problem and how each method creates or mitigates the Ceiling Rule problem; and...
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Offers in Compromise (OIC)
In episode 42 of How Tax Works, Matt Foreman discusses the often misunderstood Offer in Compromise process, focusing on what types of OICs are likely to get accepted and the different reasons to request one, as well as state OIC corollaries.
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Payment Plans and Penalty Abatement
In episode 41 of How Tax Works, Matt Foreman gives an overview of what taxpayers and their advisors should do and expect when they owe money and want to pay it off over time, while trying to lower the amount due without continuing the auditor o...
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What You Should Do If Your Audit Goes Poorly and You Need to Litigate?
In episode 40 of How Tax Works, Matt Foreman continues his discussion of tax controversy, discussing appeals and litigation, focusing on timing, audit risk, and other related issues.
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What Should You Do If You Get Audited by the IRS (or State Revenue Agency)?
In episode 39 of How Tax Works, Matt Foreman discusses what you should do if you get audited, including discussing the process of an audit, how to politely push back, and why you should never, ever ignore the audit.
Updates to Qualified Small Business Stock and R&E Expensing Under OBBBA
In episode 38 of How Tax Works, Matt Foreman discusses the updates and modifications to Qualified Small Business Stock (IRC 1202) and R&E Expensing (IRC 174) Under OBBBA, plus a bonus discussion of how he thinks OBBBA should be pronounced.
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If You Win the Lottery, the First Thing You Should Do Is… Call a Tax Lawyer?
In episode 37 of How Tax Works, Matt Foreman discusses the various tax things you should consider when you win the lottery, right after you throw a party in the Whale Room of the American Museum of Natural History.
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Grouping and Separate Activities Under Section 469 of the Internal Revenue Code
In episode 36 of How Tax Works, Matt Foreman discusses grouping elections for the passive activity loss limitations, which are also generally applicable for sections 465 (at-risk limitations), 199A (qualified business income), and other parts o...
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The Installment Method Under Section 453 of Internal Revenue Code
In episode 35 of How Tax Works, Matt Foreman discusses sales where payment is over a number of years, with additional discussions of interest payments due to large notes and interaction with 1031 exchanges
Can AI Replace Tax Lawyers? (Part II)
In episode 34 of How Tax Works, Matt Foreman continues his evaluation of human and AI answers to a less straightforward tax question, seeking to (hopefully) answer the question of whether AI can replace or augment tax lawyers.
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Can AI Replace Tax Lawyers? (Part I)
In episode 33 of How Tax Works, Matt Foreman evaluates human and AI answers to a straightforward tax question, seeking to (somewhat) answer the question of whether AI can replace or augment tax lawyers.
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How I Think the ESPN and NFL Deal is Structured
In episode 32 of How Tax Works, Matt Foreman discusses the tax structure of the recently announced deal where the NFL is exchanging NFL Network and Redzone for a 10% equity stake in ESPN.
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Real Estate Investors and the Passive Activity Loss Rules under IRC 469
In Episode 31 of How Tax Works, Matt Foreman revisits the passive activity loss limitation rules that he discussed in Episode 13—but from the view of real estate investors. The episode focuses on the additional rules for rental real estate, as ...
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Famous and Important Tax Cases: Part II
In episode 30 of How Tax Works, Matt Foreman continues his discussion of important and relevant tax cases, discussing gambling losses, whether something is a gift, whether an asset is inventory or a capital asset, and closing with a discussion ...
