There are many opportunities for a business owner to save money, particularly when it comes to taxes. With the help of a tax attorney, Tacoma businesses can receive guidance and counsel at any stage of business development. Whether you are forming a business, already in operation, or considering dissolving, selling, or even scaling back, a tax attorney with Morton McGoldrick can help you.
Business Structuring and Tax Treatment
There are a variety of ways to structure a business that yields unique tax benefits. This isn’t exclusive to large businesses, and depending on whether or not you have sole ownership, a partnership, or other interest in a business entity can have a drastic effect on the way you and your business file taxes. Our firm has several tax focused specialists. With a tax attorney, Tacoma business owners can start with the greatest tax related advantages from the very beginning. We’ll work with you to identify the most cost-effective structuring while still retaining the rights you want.
Tax Advice and Business Succession Planning
We work with our clients to prepare business succession plans that protect the interests of company owners’ families, estates, and co-owners, while at the same time clearly defining current ownership rights in a manner that facilitates smooth ownership transfers to children or other heirs following death, illness, retirement, lack of involvement or other issues that may arise in the course of business. Having a qualified and experienced tax attorney to help you navigate this sensitive area can ensure the success and longevity of your business. Morton McGoldrick has the right tax attorney for you.
The team of tax planning attorneys at Morton McGoldrick assists clients by working closely with their financial advisors in developing individual financial plans for the management and use of assets during the clients’ lifetimes. This includes providing advice about legal and tax aspects of joint ownership of property; forming family limited partnerships and limited liability companies for property management and for lifetime transfers to family members; planning for the possibility of disability through durable powers of attorney, living wills, and revocable living trusts; and providing advice about the desirability of making gifts and the general effect of income tax laws.
Family Succession Planning
Morton McGoldrick’s estate planning and tax attorneys assist clients with retirement planning, business succession planning, asset protection, and entity formation. Our estate planning and tax attorneys concentrate on succession planning and tax deferral and reduction through various techniques during the formation and funding of family entities. Tax planning is an integral part of the estate planning process. It involves the arrangement of your affairs in a way to best reduce tax liability. A skilled tax attorney with Morton McGoldrick will ensure that your paperwork incorporates the simplest tax planning strategy possible to minimize the tax burden on your heirs while still complying with all relevant federal, state, and local laws.
Plan Ahead, Act Now and talk to a Tax Attorney at Morton McGoldrick today
Taxes are complicated. A Tacoma tax attorney from our firm can make them easy. Planning ahead for yourself, your business or your estate is just a phone call away. Call (253) 655-2275 or contact us for tax attorney Tacoma services today.