Holiday Greetings from Larry’s Tax Law

2024 is almost at an end.  For me, this year went by at lightning speed.   

2024 was a wonderful year, full of change and opportunities.  I continue to be extremely grateful for the unwavering support of my family, friends, clients and law colleagues! 

Mark Twain is accredited with saying:

“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails.  Explore, Dream, Discover.”

During 2024, I followed Mark Twain’s mantra – I threw off the bowlines and sailed my ship away from the safety of the harbor, catching the trade winds! 

I was privileged to speak at several tax conferences, including:

• The 83rd New York University Institute on Federal Taxation (New York City);
• The 83rd New York University Institute on Federal Taxation (San Diego, California); and
• The 68th Annual Meeting of the Hawaii Association of Public Accountants (Las Vegas, Nevada).

Also, I published a new 200-page white paper, A Magical Mystery Tour Through Subchapter S – With A Stop At Many Of The Obscure Destinations Along The Way.  This paper was written to provide tax practitioners with a thorough overview of the current state of Subchapter S and the traps that still linger within this tax regime for unwary taxpayers and their advisers.

Additionally, I was pleased to be able to give back to the tax profession by authoring more than 20 substantive tax law blog posts, including 13 articles in my multi-part series dealing with the obvious and obscure aspects of Subchapter S and the following:

• The Corporate Transparency Act Hits a Roadblock
• What Is Likely the Last Chapter in the Wild Journey of the Washington State Capital Gains Tax Occurred on November 5, 2024, With Voters Getting the Final Say
• A Birthday Greeting to the Tax Reform Act of 1986
• You’re Invited – NYU 83rd Institute on Federal Taxation (New York and San Diego)
• The U.S. Supreme Court Overrules the Landmark Decision in Chevron – Loper Bright Enterprises v. Raimondo
• The Newest Chapter in the Tumultuous Journey of the Washington State Capital Gains Tax – Judge Allyson Zipp Rules From the Bench
• The Tumultuous Journey of the Washington State Capital Gains Tax Continues
• The Corporate Transparency Act Is Under Attack – The Battle Continues to Rage
• Larry’s Tax Law Has Surpassed the One-Decade Milestone
• Corporate Transparency Act Mini-Update – The Obvious Exemptions May Not Be So Obvious

Lastly, I feel fortunate to have been asked to contribute to various legal, tax and business periodicals, including:

• Law360 with comments about the 2022 Oregon Tax Court ruling in Santa Fe Natural Tobacco Co. v. Department of Revenue and its pending review in the Oregon Supreme Court.
• Tax Notes with comments about the 2022 Oregon Tax Court ruling in Santa Fe Natural Tobacco Co. v. Department of Revenue and its pending review in the Oregon Supreme Court.
• Fortune Magazine with comments about the exodus of the ultra-wealthy from higher-tax states to lower-tax states.

I would like to thank our readers for their support, guidance, encouragement and words of gratitude for the content and insights I have provided.  I have received several notes from readers, thanking me for our commentary, offering ideas for future blog posts and providing tremendous feedback. 

I look forward to continuing the tax blog next year and to keep providing guidance to the tax community.  I intend to continue my multi-part series on Subchapter S. 

Wishing everyone a wonderful and safe holiday season, as well as a terrific 2025! 

Larry