Tax Planning With A Tax Attorney
Expert tax counsel is essential for successful individuals and businesses. Our tax attorneys have the experience to reduce federal and state income, gift, estate, GST, and excise taxes. They can also assist with transactions and income generation with tax planning.
- Choose the right business entity
- Transactions in corporate and partnership
- Individual and trust tax planning
- Tax litigation and tax controversy
- Tax-free real estate exchanges
- Local and state taxes
- Compensation for executives
- Deferred compensation for qualified and unqualified employees
- International tax planning
- Organizations exempt from tax
- Acquisitions and mergers
- Preparation of tax returns
Selection Of Business Entity And Formation
It is important to fully understand the tax implications of the business structure you choose when starting a company. If you open a sole proprietorship, your business and you are one entity. As such, your taxes will be subject to your personal responsibility for income, losses, and expenses. If you set up the LLC or limited liability company to manage the business, the tax implications are less.
The United States has three levels of corporate tax. The Tax Cuts and Jobs Act 2017 has maintained a flat 21% national corporate tax rate since 2018. Certain corporate transactions, like mergers, acquisitions, and liquidations, are not subject to tax. However, others are. An attorney can help companies avoid the worst tax consequences. They will advise them on which transactions are taxable and how to maximize their tax results.
Individual Tax Planning
Not only corporations and pass-through entities must be concerned about tax implications. These tax implications can be very serious for individuals, especially if a tax return includes significant wealth. Tax law professionals can help individuals make informed decisions about how to protect their best interests and use tax law effectively so they are subject to a few tax consequences.
IRS Controversy And Tax Litigation
There are often disputes between individuals and IRS. The IRS will claim that an individual, company, or estate owes certain taxes, and the individual disagrees. The IRS can garnish wages and levy bank accounts to collect the amount that they believe the individual owes. Individuals who disagree with the IRS, or the IRS’s claims cannot avoid paying. The IRS will also start assessing penalties as well as interest. An IRS tax professional can help you determine the best steps to take.
Choose Tenina Law For Tax Resolution
We are Southern California’s best tax attorneys. Tenina law is a group that has been in business for more than 20 years. We are tax experts and have successfully managed numerous IRS negotiations. No matter if you’re a business owner, or someone looking for immediate help with tax issues, we can help. Penalties and interest will not stop accruing as long as the tax problem isn’t resolved. Our team can help you get the tax assistance that you need quickly. Our team is open and transparent, so you will get the right information to solve your tax problems. We want you to be able to quickly and efficiently get the answers that you need to resolve your tax problems.
The Services Provided By Tenina Law
- None Filed Returns
- Asset Or Property Seizure
- Criminal Tax Defense
- Wage Garnishment
- Installment Agreement
- Levies And IRS Liens
- Penalties And Interest
- And more