ROBERT S. BARNETT, JD, MASTERS (TAXATION), CPA CAPELL BARNETT MATALON & SCHOENFELD LLP 487 JERICHO TURNPIKE PH: (516) 931-8100 SYOSSET, NEW YORK 11791 FAX: (646) 394-9669 Robert S. Barnett, JD, Masters (Taxation), CPA, is a founding partner of Capell Barnett Matalon & Schoenfeld LLP, Attorneys at Law. His practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning. His experience includes Surrogate's Court practice, tax dispute resolution, Tax Court representation, and structuring financial transactions and charitable gifts. Mr. Barnett applies creative and practical solutions to estate and business planning. He has served on many committees, is a frequent lecturer, and has published articles on numerous aspects of tax and business law. He is an active participant and serves on many professional and charitable boards. Mr. Barnett received his juris doctor in 1986 from Fordham University, where he graduated cum laude and was a member of the Fordham Law Review. He graduated magna cum laude from Hofstra University, where he received his Bachelor's degree in accounting and is presently an adjunct professor in their graduate tax program. Mr. Barnett holds a Master's degree in taxation as the recipient of the highest dean's award. Mr. Barnett is admitted to practice law in New York, Virginia and Washington, D.C. Member: * Adjunct Professor at Hofstra University * Co-Chair of Federal Tax Committee - NYSSCPA * Board of Directors of Nassau Academy of Law * Professional Advisors Committee of the Long Island Community Foundation * Professional Advisors Committee of the American Heart Association * NYSSCPA Journal Editorial Review Board, 2017-2022 * Past Chair of Estate Planning Committee - NYSSCPA * Past Education Committee Chairman NCCPAP * Past President of the NCCPAP Educational Foundation * Past President of Nassau Chapter NYSSCPA * Past Co-Chair of Nassau County Bar Association Tax Committee Awards: * 2013 Max Block Distinguished Article Award for Technical Analysis * November 2016 - Samuel A. Dyckman, Excellence in Education Award * November 2016 - Leadership in Law Award - Long Island Business News * May 2017 - Distinguished Service Award - NYSSCPA - Nassau Chapter * Dean's Award in Taxation - Long Island University CW Post * Fordham Law Review * Fordham University American Jurisprudence Award - Trusts and Estates Professional Associations: * Real Property and Probate Section - ABA * American Institute of Certified Public Accountants * New York State Society of Certified Public Accountants * Nassau County Bar Association * Washington D.C. Bar * Virginia Bar Association Lectures: * American Association for Retired Persons * Fairfield County Medical Association * Hadassah - Planning with Charitable Trusts * Financial Planners Association * Queens County Women's Bar Association * Panelist at St. John's University Seminar regarding Limited Liability Companies * Panelist at St. John's University Seminar regarding Advanced Estate Planning * St. John's University School of Education-Tax Institute * National Business Institute - Seminar regarding Limited Liability Companies * New York State Society of Independent Accountants - Lecture Regarding Tax Legislation and Estate Planning * Foundation for Accounting Education of the AICPA Annual Tax Symposiums * National Association of Independent CPA Practitioners - Succession Business Planning - October, 2004 * New York State Society of CPA's Estate Planning Committee - Annual Tax Plenary Conference - Practical Estate Planning Techniques * Long Island University School of Professional Accounting * Past Adjunct Professor Graduate School of Tax Program * Long Island University School of Professional Accounting * The Tax Institute - Estate Planning for the Elderly Client * American Cancer Society - Charitable Planned Giving * Nassau County Bar Association - Lecture regarding use of Limited Liability Companies * Foundation for Accounting Education of the AICPA Charitable Planning Seminar * National Conference of CPA Practitioners - LLC - S Corps and Pass-Through Entities - January, 2000 * AICPA Estate Planning Committee - Estate Planning Techniques Utilizing Life Insurance - May, 2000 * AICPA Foundation for Accounting Education - Estate Planning Conference Planning * with Compensatory Stock Options - July 11, 2000 * New York State Society of CPA's Annual Tax Seminar - Like Kind Exchange - December, 2000 * Federal Taxation Committee - Planning with Stock Options - January, 2001 * National Business Institute - Choice of Business Entity - December, 2001 * Estate Planning Conference, Foundation for Accounting Education- * Executive Benefit Planning - July, 2002 * Panelist - Choice of Business Entity - November, 2002 * Estate Planning Update - December, 2002 * Hofstra University - Charitable Remainder Trust - September, 2003 * Institute of Long Island University Business Succession Planning - August, 2004 * National Business Institute - Advanced Limited Liability Company Issues - November, 2004 * Nassau Academy of Law, Charitable Remainder Trusts - January 18, 2005 * National Business Institute - Choice of Business Entity - February 9, 2005 * Nassau Academy of Law - Charitable Giving Vehicles - March, 2005 * FAE Annual Financial Planning Conference, Businesses Succession Planning - June, 2005 * FAE Annual Estate Planning Conference, New Regulations for Capital Gains and Fiduciary Power to Adjust - July, 2005 * NBI Seminar - Business buy/sell agreements - November, 2005 * NYSSCPA at Hofstra University - Marital Tax Planning - November, 2005 * NYSSCPA - Annual Tax Update - December, 2005 * NCCPAP Partnership and S Corporation Update - January, 2006 * NYSSCPA Annual Estate Planning Conference - May, 2006 * Nassau Academy of Law - Life Cycle of a Professional Practice - October, 2006 * NYSSCPA - Tax Plenary - Partnership Service Interests- November, 2006 * NYSSCPA - All Day Tax Conference - Choice of Entity Update - December, 2006 * NYSSCPA - Advanced Estate Planning - January, 2007 * National Business Institute - Limited Liability Companies and Exempt Organizations -January, 2007 * National Business Institute - Exempt Organizations - January, 2007 * NYSSCPA - Prudent Investor - May, 2007 * National Business Institute - Limited Liability Companies - May, 2007 * NYSSCPA - Estate Planning Essentials - May, 2007 * NYSSCPA - at Queens College - Entity Consideration - PTN Retirement - June, 2007 * FAE - Albany - Advanced Estate Planning - June, 2007 * FAE - Nassau - Advanced Estate Planning - July, 2007 * FAE - New York City - Advanced Estate Planning - August, 2007 * FAE - Buffalo - Advanced Estate Planning - August, 2007 * NCCPAP - Partnership Update - September, 2007 * National Business Institute - Sale of Business - September, 2007 * NYSSCPA - Prudent Investor - November, 2007 * NCCPAP - Partner Retirement - November, 2007 * NYSSCPA - S Corporation Update - December, 2007 * Nassau Bar - Trusts -January, 2008 * National Business Institute - LLC Advanced - February, 2008 * Nassau Bar - Liens - April, 2008 * NCCPAP - Liens - May, 2008 * FAE - Planning with Family Limited Partnerships and Limited Liability Companies - May, 2008 * Taxation of Mergers and Acquisitions - May, 2008 * FAE - CPA's Guide to Estate, Business, and Financial Planning - August, 2008 * FAE - Advanced Estate Planning - August, 2008 * NCBA - S & C Corporation Update - September, 2008 * Tax & Accounting Institute - CW Post - Liens and Levies - September, 2008 * NCCPAP Annual Tax Symposium - Corporation Update and IRS Liens and Levies - November, 2008 * Nassau Bar - Estate Planning in Uncertain Times - November, 2008 * NYSSCPA - Frequent lectures on Advanced Estate Planning January, 2008 - December, 2008 * Nassau Academy of Law - The "Madoff Effect" on Charitable Boards - How to Avoid Liability - July, 2009 * NCCPAP - Tax Checklist for a Failing Business - Death of a Business - November, 2009 * NYSSCPA Nassau County Chapter - Annual Tax Symposium - S Corporation Update - December, 2009 * Long Island Tax Symposium - Corporation and Partnership Update - 2010 * FAE - Estate Planning Conference - S Corporation Built-In Gains - October, 2011 * Long Island Tax Symposium - Corporation and Partnership Update and Passive Activity Losses - 2011 * FAE - Partnership Taxation Conference - Section 704(b) Capital Accounts - December, 2011 * NYSSCPA - Annual Tax Conference - Passive Activities and Real Estate - December, 2011 * FAE - Professional Issues Conference - December, 2011 * NCCPAP- Trust and Estate Decanting - December, 2011 * NYSSCPA- Estate Planning Conference NYC- Built-In-Gains—December, 2011 * NYSSCPA - All Day Estate and Personal Financial Planning Conference - January, 2012 * NCBA- Estate Planning for Same-Sex Couples- June, 2012 * NCBA- Estate Planning for the Terminally Ill- June, 2012 * NCBA- Life Insurance Considerations and Estate Tax Update - October, 2012 * FAE Estate Planning Conference- Estate Planning-Income Tax Issues - October, 2012 * FAE Annual Personal Financial Planning Conference - Buy Sell Agreements - November, 2012 * Long Island Tax Symposium — Income Taxes of Trusts and Estates; Passive Activities; S and C Corporate Tax Update - 2012 * NYSSCPA - Annual Tax Conference, Casualty Losses—December, 2012 * NYSSCPA - Nassau/Suffolk All-Day Estate Tax Update - Protecting Your Estate Plan - January, 2013 * The Estate Planning Council of Nassau County - Contingent Estate Liabilities and Section 2053 - January, 2013 * Aspiriant - Panel Discussion on Tax Legislation - February, 2013 * Strafford - Webinar - Passive Activity Losses - February, 2013 * Strafford - Webinar - Cancellation of Debt and Pass - thru Entities - March, 2013 * Strafford - Webinar - Basis Adjustments for Partnerships and LLCs - June, 2013 * Strafford - Webinar - Trust Structuring After the American Taxpayer Relief Act - September, 2013 * 44th Annual Sidney Kess UJA Estate, Tax and Financial Planning Conference- Tax Planning for Trusts - October, 2013 * Zicklin Tax Series at Baruch College - Income Tax Considerations for Trusts & Estates - October, 2013 * JNF/Alliance Bernstein Event: Tax Savings - Taking Advantage of Opportunities and Avoiding the Traps - November, 2013 * Strafford- Webinar: Form 8582: Passive Activity Reporting and Impact of New 3.8% Medicare Tax- November, 2013 * AICPA 2013 Boston - Sophisticated Tax Planning for Your Wealthy Clients: How to Minimize the New Income Taxes for Estates & Trusts - November, 2013 * 2013 NCCPAP Long Island Tax Symposium- Debt Cancellation- How to Analyze Form 1099C; S & C Corporation Update, Passive Activities - Real Estate Professionals, Foreign Bank Accounts and Income Reporting - November, 2013 * 61st Annual Nassau Chapter All-Day Taxation Conference - Investment in Partnerships; Buying & Selling of Partnership Interests - December, 2013 * Nassau Chapter All-Day Estate and Personal Financial Planning Conference - Form 1041 - Income Taxes after ATRA - January, 2014 * Suffolk County Bar Association - Estate Planning after ATRA - March, 2014 * NCCPAP - 2014 Tax Season Roundtable, The New 3.8% Tax on Investment Income - March, 2014 * NYSSCPA - Nassau Chapter Practice Continuity Committee - The Art of the Deal including Key Legal Considerations - April, 2014 * NYSSCPA - Estate Planning Conference - May, 2014 * NCCPAP - Foreign Bank Account Reporting - June, 2014 * NAL - Estate Planning Update - July, 2014 * CPE Link - Passive Activity Loss and Real Estate Professionals * 45th Annual Sidney Kess New York Estate, Tax, and Financial Planning Conference - September, 2014 * NYSSCPA - Longevity Annuities September, 2014 * NAL - Partnership Agreements - September, 2014 * Wealth Counsel Webcast with Sidney Kess - 1041/ DNI - October, 2014 * Molloy College - Charitable Contributions - Income Tax considerations * CPE Link - 1099c - October, 2014 * 46th Annual Sidney Kess New York Estate, Tax, and Financial Planning Conference - October, 2014 * Strafford - IRC 754: Partnership and LLC Basis Adjustments - October, 2014 * CPE Link - C&S Corporation Update - November, 2014 * AICPA 2014 Philadelphia - Sophisticated Tax Planning for Your Wealthy Clients: November, 2014 * 2014 NCCPAP Long Island Tax Symposium - S & C Update, Foreign Bank Account Reporting, Tax Updates - November, 2014 * NBI - Income Taxation of Trusts & Estates - December, 2014 * FAE 62nd Annual Nassau Chapter All-Day Taxation Conference - December, 2014 * 2015 NYSSCPA Estate Planning Conference - Foreign Bank Accounts - Estate Considerations - May, 2015 * AICPA Boston - Sophisticated Tax Planning for Your Wealthy Clients - November, 2015 * 46th Annual Sidney Kess UJA Estate,Tax and Financial Planning Conference - Estate Tax Issues - August, 2016 * Wealth Counsel Webcast with Sidney Kess - Year End Tax Planning - October, 2015 * NCCPAP Long Island Tax Symposium - S & C Update, Payroll Tax Penalty, Interest Tracing Regulations - November, 2015 * Clearlaw Institute - Tax Basis & Loss Utilization - August, 2016 * Baruch College Zicklin Tax Series - IRS Liens & Levies: The Trojan Horse - November, 2016 * NCCPAP Long Island Tax Symposium - S Corporations - November, 2016 * NYS Bar Association - Sale of a Professional Practice - January 2017 * American Bar Association - Life Insurance Trusts - May, 2017 * Hofstra University Private Wealth & Taxation Institute - Fiduciary Accounting A to Z - May, 2017 * NYSSCPA Annual Estate Planning Conference - May 2016 & 2017 * NYSSCPA Foundation for Accounting Education - Annual Tax Update - 2016 & 2017 * NYU Tax Study Group - Real Estate Professionals - July, 2017 * Strafford - Calculating S Corporation Stock & Debt Basis - August, 2017 * CPE Link - Various Tax Lecture Webinars - 2016 & 2017 * NCCPAP - Annual Long Island Tax Symposium - Corporation Tax Update - November, 2017 * Nassau County Bar Association - Ending an Estate - January, 2018 * NYSSCPA - New Tax Reform, Two Part Series- January 2018 * NCCPAP - New Tax Law, Three Part Series - February, 2018 * Wealth Counsel - S Corporation Trusts - February, 2018 * Baruch College Zicklin Tax Series - Business Succession - November, 2018 * NCCPAP - Long Island Tax Symposium - November, 2018 * NYSSCPA - Nassau Chapter Annual Tax Conference - Select Business Considerations - December, 2018 * NCCPAP Nassau Chapter - Two Part Tax Update Series - New Tax Act - February, 2019 * Nassau County Bar Association - Recent IRS Employment Issues - April, 2019 * FAE NYSSCPA Estate Planning Conference - Trust & Estate Taxation - May, 2019 * Long Island University - Trusts and Estates Day - May, 2019 * NYSSCPA - S Corporations Conference, Final Regulations §199A - Aggregation and Interest Deductions - June, 2019 * Hofstra University Private Wealth Conference - § 199A - June, 2019 * AICPA Engage Conference - Las Vegas - Business Succession - June, 2019 * NYSSCPA - Nassau Tax Committee - TCJA - September, 2019 * NYSSCPA - Westchester Annual Tax Conference - §199A - November, 2019 * NCCPAP - Long Island Tax Symposium - Business Tax Issues and Estate Planning Update - November, 2019 * NYSSCPA - Passthrough Entities Conference - Business Losses after TCJA - December, 2019 * UJA - Implementation and Monitoring of an Estate Plan - December, 2019 * NYSSCPA - Nassau Chapter Annual Tax Conference - Business Losses - December, 2019 * Lorman - Passive Activities Losses in Real Estate - December, 2019 * Strafford - Partnership Activity Aggregation Rules - January, 2020 * Strafford - IRC § 734 Adjustments - September, 2020 * FAE NYSSCPA Estate Planning Conference - October, 2020 * ATS Tax Symposium - Estate Planning Update - November, 2020 * ATS Tax Symposium - At Risk and Passive Activities - November, 2020 * Baruch College Zicklin Tax Services - Form 1041 Update - November, 2020 * NYSSCPA Partnership & S Corporation Conference - December, 2020 * FAE NYSSCPA - Planning for 2021 Tax Updates - January, 2021 * FAE NYSSCPA - Section 1639(j) & Business Losses - January, 2021 * Stratford - Capital Gains - March, 2021 * Stratford - Advanced Trust Drafting for Income Tax Minimization - May, 2021 * CPA Academy - 1041 & TCJA - July, 2021 * CASCPA - Losses Passive Activities, At Risk - July, 2021 * NBI Real Property In Estate Administration - August, 2021 * FAE NYSSCPA Estate Planning Conference Elder Care & Income Tax Planning - October, 2021 * ATS National Tax Symposium - Business Losses; Equity Compensation; Stock Options; S Corporation and Partnership Update; Estate Planning Update - November, 2021 * FAE NYSSCPA Passthrough Entity Conference - Federal Tax Update - December, 2021 * ATS National Tax Symposium - November, 2022 Articles: * Estate & Trust - Income Tax Commodities - NYSSCPA * Gifts of Real Property with Retained Life Estates * Published in IAFP Vol. 3, No. 4, March - April, 1995 * Planning with Lifetime Gifts - IAFP Vol. 3, No. 5, May - June, 1995 * The Limited Liability Company the Queens Bar Bulletin * Don't Overlook Section 754 Elections - New York State CPA Newsletter - September, 1998 * New Planning Opportunities for Charitable Gifts - New York State CPA Newsletter - September, 1999 * Non-Qualified Stock Options - CPA Journal - August, 1999 * Increased Flexibility in Planning for Generation Skipping Transfer Tax - CPA Journal - July, 2002 * Income Tax Liabilities in Bankruptcy - CPA Journal - April, 2003 * Marital Deduction Relief - CPA Journal - September, 2003 * Medicaid Planning with Life Estates - CPA Journal - March, 2005 * IRS Final Regulations Define Trust Income - NY Law Journal - September, 2005 * Planning Considerations for Children of a First Marriage - Nassau Lawyer - September, 2005 * The Fifth Circuit Decides _Strangi_ - NY Law Journal - January, 2006 * New York State Sales tax and the Choice of Business Entity - CPA Journal - May, 2006 * S Corporations and Rental Income - CPA Journal - October, 2006 * S Corporation Loss Utilization - NY Law Journal - November, 2007 * Modern Gambling Meets the Internal Revenue Service - NY Law Journal - May, 2008 * Tax Considerations in Wrongful Death & Survivorship Actions - Nassau Lawyer - November, 2008 * Handle with Care: Administering Endowment Funds in Tough Times - NY Law Journal - July, 2009 * Taxing Income in Respect of a Decedent - NY Law Journal September, 2009 * Limited Liability Companies and Passive Activity Losses - Nassau Lawyer * Section 1031 Like Kind Exchanges and Entity Considerations - CPA Journal - May, 2010 * Inherited IRAs and Bankruptcy - Nassau Lawyer - July/August, 2010 * "Deferring COD Income: Burden May Outweigh Benefit" - November, 2010 edition of the _Journal of Accountancy_, the flagship publication of the American Institute of Certified Public Accountants * Nathel v. Commissioner: Recent case provides guidance for S corporation losses - Nassau Lawyer - November 2010 * Reinstating Tax Exempt Status for Small Nonprofits - NCCPAP Newsletter - July, 2011 * Revenue Procedure 2010-12 Provides Guidance for Passive Activity Groupings - CPA Journal - August, 2011 * Bankruptcy and Asset Protection: The Battle Over Inherited IRAs Continues - New York Law Journal - August, 2011 * Six Year Statute of Limitations for Basis Overstatements - New York Law Journal - November, 2011 * Failure to Aggregate Rental Property: Late Election May Be an Option - CPA Journal - December, 2011 * New Revenue Procedure for Estate with Contingent Liabilities- Tax Stringer- NYSSCPA Publication - May, 2012 * Practical Guidelines for Bolstering a Last Will and Testament, NYSSCPA Nassau Chapter Newsletter - November, 2012 * Lifetime Credit Shelter Trusts - The CPA Journal - December, 2012 * Asset Protection Trusts - NYSSCPA Nassau Chapter Newsletter - January, 2013 * Casualty Losses for Property Damaged by Hurricane Sandy - The CPA Journal - February, 2013 * Establishing Credibility: Recent Cases Highlight the Plight of Real Estate Professionals - NYSSCPA Nassau Chapter Newsletter - April, 2013 * IRS Final Regulations have been issued Defining Trust Income; CPA Journal - 2013 * Reducing Income Taxes for Estates and Trusts; Wolters Kluwer - May, 2013 * Avoiding the Squeeze: Trusts, Estates, and the New ATRA Tax Regime: Journal of Accountancy - April, 2014 * Pressure Builds on U.S. Taxpayers with Foreign Accounts - Tax Stringer - June, 2014 * When Worlds Collide: The Intersection of Business Succession and Estate Taxation - The CPA Journal - September, 2015 * OVDP and the IRS's New Streamlined Filing Procedures: Look Before You Leap - The CPA Journal - May, 2016 * Gift Horse or Trojan Horse? Helping Beneficiaries avoid hidden tax liens - CPA Journal - January, 2018 * Personal Goodwill: Practical Considerations Journal of Taxation - May, 2018 * Discrimination Settlements - Journal of Taxation - December, 2020 * IRS Cracking Down on Cryptocurrency - NCCPAP Nassau/Suffolk Chapter Newsletter - December, 2020 * Restitution Deduction - TCJA Requirements - Journal of Taxation - January, 2021 * Cash Method? Avoid the Tax Shelter Trap - NYSSCPA Tax Stringer - August, 2021 * Income Tax Planning for Trusts - Impact of PLR202118002 - Journal of Taxation - October, 2021 * Material Participation as Significant Participation Activity - The CPA Journal - November, 2021 * Rental Activity and Self-Employment Tax: Recent Cases with Online Rental Marketplaces - The CPA Journal - May/June, 2022 * Passive Activities Meet At-Risk Limitations - Journal of Taxation - June, 2022 * Late Portability Election: New Relief Available - New York Law Journal - September, 2022