Your business is your livelihood. Looking ahead today when you create your business helps you avoid potential pitfalls that may arise tomorrow. Similar to estate planning and real estate matters, business owners need to be sensitive to the tax consequences associated with their businesses.
Our attorneys have extensive tax knowledge and are able to explain the various tax ramifications of each proposed transaction. Our attorneys also understand that tax ramifications do not and should not drive business decisions.
Our firm can assist clients in choosing and forming business entities, in acquiring and selling businesses, in transactions associated with business operations, as well as other business related matters.
We also understand that each client’s business is usually the centerpiece and most valuable asset. As such, each client’s business should be carefully considered and addressed in his or her estate plan. We can help clients develop business succession strategies to help ensure his or her business will continue to operate after he or she dies so that his or her family will continue to be provided for.
When starting a business, a client has several types of entities from which to choose. The type of entity a client chooses can have unwanted consequences, whether tax or otherwise.
Our attorneys can assist clients in selecting the entity type that is appropriate for their needs. Below is a partial list of the typical entities that are typically used in starting businesses.
- Limited-liability company
- Partnership (whether general partnership or limited partnership)
For each entity, however, there are different elections that can be made for federal tax purposes. Our attorneys can assist clients in not only selecting the appropriate entity for doing business, but also in making the appropriate federal income tax elections.
In addition to selecting the appropriate entity for business, clients are faced with various other matters, including, but not limited to, licensing issues when starting their businesses. Our attorneys are experienced in guiding and assisting clients with not only their business licensing needs, but most of the other matters that clients face when starting their businesses.
Business Operations and Dispositions
Clients often face issues in the operation of their businesses. From compliance with government regulations to drafting agreements clients will continuously use in the operation of their businesses, our attorneys have the necessary experience.
Our firm is experienced in drafting employment agreement, vendor agreements, and other agreements regularly used in the course of business. Our attorneys have help clients grow, acquire, and dispose of their businesses through, and plan their tax consequences associated with, mergers and acquisitions of varying complexities and of varying sizes. We have also represented clients in compliance matters associated with their businesses.
Our attorneys have worked not only with start-up businesses, but also with venture capital firms. We have provided advice on various matters, including the following:
- Deal Structures
- Agreement Negotiation
- Due Diligence
- Tax Strategies
- Succession Planning