Strategic Tax Planning

Nobody likes taxes and nor do we. We understand how businesses work and the impact taxes can have on it. Furthermore, we know how certain transactions can result in unfavorable tax consequences, while others can result in either more favorable or the most favorable tax consequences. Here are some questions that implicate tax planning:

  • Do you sell or trade an asset with substantial built-in gains? Does it matter?
  • Do you have substantial losses or gains from other activity for the tax year? Should you be doing something because of that?
  • When should you receive payment? Can you even affect when you receive payment?
  • What type of entity should you form? Should you make an S-election?
  • What type of flexible allocations can you make in your partnership or LLC?
  • Can/Should you make a distribution to shareholders/members? What tax effect will it have?
  • How can a trust help you save money in taxes?
  • What are some general ways to shift or offset tax consequences? How can creating entities help with that?

If you have a legal matter that needs attention in this area of the law, take advantage of a consultation regarding your case.

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