For years, businesses and tax advisors have searched for a clear answer to a deceptively simple question: When is a limited partner truly a “limited partner” for self-employment tax purposes? Earlier this year, the Fifth Circuit appeared to provide that answer, tying the analysis largely to a partner’s legal status and liability protection. Many taxpayers…
Going public is more than a capital-raising event. It represents a significant transformation in how a company manages financial reporting, internal controls, governance, and investor communications. For technology companies, the process can feel daunting. Companies must prepare for Sarbanes-Oxley (“SOX”) compliance, Public Company Accounting Oversight Board (“PCAOB”) audits, S-1 registration statement preparation, guardrails around the…
Pat Walsh Pat was recognized for his relentless dedication to elevating Withum’s position as a top 20 advisory, accounting and tax firm. This recognition reflects Pat’s leadership and the Firm’s consistent year-over-year growth and strategic expansions into new markets under his guidance. His commitment and contributions to the profession have earned him numerous accolades, including…
For high-growth companies, especially in technology, headcounts can climb faster than almost any number on the balance sheet. A team of 40 can become 90 in a single funding cycle, and a strong recruiting quarter adds dozens of new employees to your benefit within weeks of their start date. That momentum is a sign of…
Prediction-market event contracts raise unresolved federal income tax questions because they combine features of wagers and financial instruments. A typical contract may allow a participant to buy a “yes” or “no” position on whether a specified event will occur—such as the outcome of a sports contest, election, weather event or other real-world contingency. Economically, these…
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