We use our creative analytical skills and legal strategies to make sure you don’t pay the government more tax than you have to. Almost every business and financial decision effects how much tax you pay.
Taxes paid by businesses are often their largest expenses. So, it’s worthwhile to spend time making sure you have the proper business structure. Do you know the different tax consequences of being a corporation, an S corporation, a partnership, or an LLC? Do you now the different tax strategies you can use once you select your entity? Do you know how to structure the purchase or sale of a business to minimize taxes. We can help you decide which entity type is best for you, devise creative tax-saving ideas, and structure M&A deals to minimize tax costs. And, we do all this in coordination with your CPA to make sure your entire team agrees on the ideas and you comply with all tax reporting requirements.
IRS Audits and Appeals
The letter from the IRS that says your tax return is being audited can be dreadful to receive. Not only that, it can cause stress on you, your family, and even your business. Having an experienced ally like our office to represent you, means one less thing to worry about. Even if you ultimately disagree with the IRS Audit conclusions, you have a right to appeal. We have won many IRS Appeals and continue to bring our depth of experience to all audits.
Did you know you can give $14,000 to each of your children and grandchildren without paying any gift tax? And, if you are married, you and your spouse can give up to $28,000 to each child and grandchild without paying any gift tax? Your estate plan must address whether you should make gifts to you children or even grandchildren. Yes, there are restrictions based on the type of gift, but that’s why we are here – to make sure you take advantage of the tax laws.
Your gross estate – the current value of all the cash, personal property, collectibles, life insurance, annuities, trusts, homes, business interests and other assets – is subject to tax if it exceeds $5,450,000. Most estates are quite simple and will not result in any estate tax, but what happens if your business keeps growing, your home appreciates, your savings and investments increase, or you add life insurance? Spend some time with us to discuss your estate tax planning options, and consider it time well spent.