Personal finance perspectives

Courts examine nature of LLC, LLP interests
Two recent court cases provide noteworthy guidance on the nature of ownership interests in limited liability companies (LLCs) and limited liability partnerships (LLPs) by treating such interests as “general partner” instead of “limited partner” interests for purposes of applying the passive loss rules under section 469.

May 2009 Personal financial services tax alert
2009 is expected to be a year of significant federal, state and local tax developments. New York State recently enacted major changes for individual taxpayers, and for your information we have summarized some of the key legislation in this tax alert.