Tax Planning

The firm believes that tax law is at the heart of business law and is critical to many aspects of estate and business planning.  Every plan that the firm develops for our clients is based upon the most careful tax considerations.

Without an exact understanding of the tax ramifications of a particular transaction or plan, consequences are likely to be adverse.   For example, while a gift of highly appreciated property to a child removes such property (and the income tax liability upon its sale) from the donor’s estate, if that gift is instead deferred until the donor’s death, all the prior appreciation will escape income taxation because of the “step-up” in the tax basis of most assets that occurs upon the owner’s death.  Last minute gifts to individuals are ordinarily to be avoided.  On the other hand, for well-to-do clients concerned about minimizing transfer taxes, lifetime gifts in trust such as grantor retained annuity trusts can save enormous amounts of gift and estate taxes.  These are merely two of innumerable examples.

Our many years of professional experience in tax planning, combined with our founder’s advanced degree in Tax Law and on-going studies in taxation enable us to help our clients minimize their income, employment, and transfer taxes consistent with their other planning objectives.