Fixed asset inventories are needed to prevent over-reporting of personal property for tax returns and, subsequently, being taxed at a higher rate than you should be.
If you live in a state that collects income taxes, you face a double burden. An attorney can explain the complexities of these federal and state requirements so that you are always in compliance.
The top 1% of earners in the U.S. paid 38.8% of all federal individual income tax in 2019, according to the Tax Policy Center. The top 0.1% paid 19% of the total.
If you are considering buying a business, an attorney can coordinate an audit to provide you with a thorough financial profile of the company, and advise you on its true value and the risks that are involved in completing the transaction.
Do you know that a properly drafted will can protect your estate against the impact of Inheritance Tax? Contact our attorney to get more details on this.
Do you know that as of 2020, 7 states of the United States—Florida, Alaska, Nevada, Texas, South Dakota, Washington, and Wyoming—levy no personal income tax?
In addition to taking care of valuation and assessment issues for your business, we can also handle all tax issues including the receipt and notification of payment due dates and fund dispersal.
Each property is unique. Unfortunately, blanket tax assessments by governing bodies do not take this into account and tend to use a one-size-fits-all approach, assuming the valuation will be passively accepted. We’ll stand up for you.
Commercial, Industrial, and Residential properties, while still real estate, all have different taxing regulations and restrictions governing transactions and ownership. Instead of trying to muddle through and risking penalties, let us guide you.
Are you starting a business? Work with an attorney for help with understanding the different tax obligations you face and how to take care of them.
Has your business experienced a financial set back? Talk with an attorney for help with your options for spreading the losses out over several years.
Tax laws are in a constant state of flux and what may have been OK last year, may not be this year. An experienced attorney can guide you through the tax law minefield.
Business income has many forms and it is important to understand how the IRS defines income or you may face additional taxes, interest, and penalties. An attorney can clarify your income reporting responsibilities.
With our help and guidance, a financial plan can be created that minimizes the tax burden placed on your heirs after you pass as well as ensuring that your estate is distributed as you want it to be.
A recent report from the Government Accounting Office (GAO), says that individual taxpayers overpay their taxes by $400. Almost $500 million nationwide in overpayments are made because tax payers do not take all of their allowable deductions.
Is your transaction eligible for tax incentives or credits? While the laws are specific (and somewhat convoluted), your acquisition may qualify. We can review the details and help you find them.
If you are buying a business, regardless of whether it is retail, commercial, or industrial, our services will help you better evaluate your investment and its financial potential in the years to come.
We will work with you to help you and your business establish financial goals, and then help you reach them. The healthy growth of a company requires a sound financial plan and management and insightful analysis of trends.
Tax laws, both federal and state, are constantly changing as are interpretations of these laws. Tax attorneys track these changes in order to stay informed and to provide the guidance their clients need.
As your company grows, expands, or increases it services, consult with a financial and tax attorney to avoid problems with the applicable laws and regulations that govern your new ventures.
Did you know that even if you have no employees, you may be required to meet the tax requirements for a self-employed individual? A consultation with a tax attorney can answer any questions you have.
Are you starting a new business? If so, there are many important decisions that will have to be made regarding the organization, financing, management structure, and other facets of it. The financial and tax guidance of an attorney will help you make the right decisions.
If you face the IRS alone during an audit, they won't let you off the hook just because you said you didn't know about or understand an aspect of tax law. An attorney provides the guidance you need.
While a sole proprietor may not have to pay business taxes, he or she is usually considered both an employer and an employee, and tax issues can be complicated. Consult an attorney for help if this is your situation.
