Based in Withum’s New York office, Michael Oates is the leader of the financial services tax practice.
With over 30 years of experience with alternative investment funds, investment advisors and their owners. Michael often consults on the initial organizational structures and portfolio transactions to maximize tax efficiency. He serves as a trusted operational-matter tax advisor throughout the business and economic cycles of the fund and its advisor.
Learn more about my professional experience and how I spend my time outside the firm.
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On November 28, 2023, the Tax Court ruled that the exception from self-employment tax for limited partners does not apply to limited partners who actively participate in the partnership’s business operations. The court engaged in a “functional inquiry into the roles and activities” of the limited partners. It concluded that their level of participation was…