How Tax Works

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 boss asks them i...

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 wondered “can I dedu...

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 I deduct this?” How...

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 California, which li...

In this episode of How Tax Works, host Matt Foreman discusses Sales and Use Taxes.  Matt will define sales taxes and use taxes; describe the common and disparate features between states; what to do if you need to collect; and how to determine if what you sell is subject to sales tax.  This episode is for business owners, attorneys, accountants, and their advisors, as well as Wayfair, Overstock, an...

Welcome to the first episode of How Tax Works. Host Matt Foreman discusses what is likely the most important decision that a business owner can make: Entity Selection.  Matt will discuss many of the tax and non-tax factors, ways to weight those factors, and the tax effects of each type of entity.  This episode is for business owners, attorneys, accountants, and their advisors, as well as anyone wh...