About Sheldon I. Banoff, P.C.

Sheldon Banoff has successfully guided law firms and other professional service firms through federal tax, partnership law and regulatory challenges for more than 40 years. A nationally respected authority who has testified to Congress on tax issues, he combines great technical knowledge with the practical mindset of a problem solver.

A first-hand understanding of partnership tax issues

In planning for his clients' growth, Sheldon draws on his own experience at Katten, which he joined out of law school. Having watched Katten evolve into a large international firm, he understands how to position partnerships advantageously for the present without creating problems as they increase in size. He is also skilled in balancing the interests of firm management with those of important non-management personnel.

Through his longtime work with professional service firms, Sheldon has seen and handled a great breadth of issues. His matters vary from helping firms create foreign affiliates, to creating retirement programs, to success planning. Beyond his work for law firms, he also has advised accounting firms, real estate developers, lenders and investors.

Sheldon's work and writings on tax issues have made him a national figure sought out by fellow professionals. He has provided expert testimony on partnerships and other pass-through entities before the Ways and Means Committee of the US House of Representatives. He has written a long-running monthly column in the Journal of Taxation, lectured at the University of Chicago Law School and served on the school's annual tax conference planning committee.

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Practice Focus

  • Federal income tax planning
  • Partnership structuring
  • Regulatory compliance for professional service firms
  • Retirement program structuring