Your Business Can Be A Successful 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, entrepreneurs need to be sensitive to the tax consequences associated with their business plans.
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. Drawing from our extensive tax knowledge, our attorneys are able to explain the various tax ramifications of each proposed business transaction.
Our clients’ businesses are frequently their most valuable asset. As such, we assist our clients with carefully considering and addressing the future of their business in their estate plan. We help clients develop business succession strategies to extend the life cycle of their business if they wish for it to continue operating and providing for family members beyond their death. We also strategize to create family businesses for optimal tax-related benefits.
Business Formation Matters
When starting a business or readjusting a business practice, there are several types of entities from which to choose. Selecting the right type of business entity is often confusing without the assistance of an attorney. Our team at Alterwitz Katz, LLP, can help you understand the tax benefits and consequences of the various entities so you can make informed business decisions.
Below is a partial list of the typical entities that are typically used in starting businesses:
- Limited liability company (LLC)
- Partnership (whether general partnership or limited partnership)
For each entity, there are different elections that can be made for federal tax purposes. Our attorneys can assist you with not only selecting the appropriate entity to achieve your business goals, but also in making the appropriate federal income tax elections.
Contending With Business Operations and Dispositions
In addition to selecting the appropriate entity for a family business, our attorneys are experienced in guiding and assisting clients with issues related to the day-to-day operation of their businesses such as licensing, drafting and reviewing contracts, negotiating commercial space leases and myriad other state and federal compliance matters.
Our lawyers assist with drafting employment agreements, vendor agreements and other agreements regularly used in the course of business. We help our 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 Help Everyone From Startups To Venture Capital Firms
Our attorneys have worked not only with startup entrepreneurs, but also with venture capital firms. We provide trusted legal advice on a full scope of matters, including:
- Deal structures
- Agreement negotiation
- Due diligence
- Tax strategies
- Succession planning