Everyone pays taxes but few think ahead to how they might be able reduce their tax liability. With advance tax planning and sound legal advice, many individuals, families and businesses can minimize the bite of business, personal or estate taxes.
Federal and state tax laws are ever-changing, bringing with them new issues of tax planning and compliance. With professional experience in tax planning, advanced degrees in tax law and on-going studies in taxation, we are intimately familiar with changes in the Federal, State, and local tax laws and work to keep our clients informed of the changes that affect their professional and personal interests.
Tax Considerations for Businesses
Taxation is one of the most important issues facing your business. The structure of the business, all compensation arrangements and nearly every transaction will have tax implications based on timing or form.
Some specific areas of our business tax planning practice include addressing tax issues arising from:
- Property and equipment purchases and sales;
- Reorganizations — including mergers, acquisitions, joint ventures, spin-offs and leveraged buyouts;
- Executive compensation;
- Equity incentive plans;
- Intellectual property transfers;
- Finance and leasing arrangements;
- Bankruptcy; and
- Debtor/creditor workouts.
Our business savvy and experienced tax attorneys will review the details of your proposed transaction to determine the tax consequences and work with you to devise the most beneficial timing or structuring of the undertaking.
Tax Considerations for Individuals
The ultimate consequence of good personal tax planning is the enhancement of individual and family wealth. Today’s tax code and global society have created complex taxation and transfer questions for the preservation and passing on of capital. Tax planning can show you how to take advantage of favorable provisions in the tax laws and avoid pitfalls that could cost you unnecessary taxes.
Some specific areas of our individual tax planning practice include addressing tax issues arising from:
- Investment decisions;
- Long-term income and investment growth;
- Gifts, including those to charity;
- Executive compensation
- Retirement plans;
- Real Estate transactions;
- Estate and gift taxes;
- Marital deduction planning; and
- Disposition of assets.
When you work with a tax planning attorney at Precept Law Group, you will receive comprehensive personal and business tax planning services with explanations in plain english, empowering you to make an informed decision on how to minimize your business or personal tax burden.