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The tax system makes the government a partner to every financial transaction, whether business or personal. Whenever you earn money or transfer property, the government is there to get its share. In addition, the tax system dictates financial decisions, by encouraging or discouraging certain types of behavior through deductions, credits, penalties, excise taxes, timing of income, and excluding certain income from taxation altogether.
The pervasiveness of tax law means that our clients rely on our tax expertise in many different representations. A business client will want to know the tax impact of different methods of structuring, financing and winding down a business. A matrimonial client will be concerned about the tax burden of liquidating property, alimony payments and the division of retirement plans. A personal injury client may be concerned about structuring a settlement so that damages received are excluded from income. We are proud to act as co-counsel to many attorneys throughout the state in discussing the tax ramifications of different courses of action.
Our tax attorneys are ready and able to guide our clients through the intricacies of the tax code so that they net the highest possible after tax return on their business and personal decisions. Two of our attorneys are former staff attorneys with the IRS and three have received their Masters of Law in Taxation. Our expertise extends to all areas of the tax code, with an emphasis on corporate and partnership tax, gift, estate and generation skipping tax, and taxation of employee benefits and retirement plans.
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Below are figures for 2015 that are frequently used in the elder law practice or are of interest to clients. Medicaid Spousal Impoverishment Figures for 2015 The new minimum community spouse resource allowance (CSRA) is $23,844 and the new maximum …
By Philip A. Kahn, Esq and Andrew Grenell In today’s technology driven economy, more businesses are relying on computerized business records. The financial and accounts receivable industries are no exception. Today’s receivables industry, particularly debt buyers and assignees, buy …