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Tax Planning / Preparation

Tax Planning / Preparation

We strive to transform tax from a center of compliance to a driver of value. Our highly experienced and business-savvy tax professionals advise clients on the full breadth of business and transactional tax issues.

We focus on providing tax-friendly structures that maximize tax savings and serve our clients’ business objectives. With our expansive knowledge of tax law, we provide simple solutions to complex tax issues and apply innovative ideas and methods for our clients that routinely deliver them maximum financial benefits.          

Our Clients

  • Closely-held entities, such as limited liability companies, family and development partnerships, S-Corporations, and C-Corporations;
  • A large variety of businesses, including but not limited to nursing facilities, real estate companies, management and development companies, medical and dental practices, and companies specializing in technology;
  • Individuals in search of tax and business planning guidance.

Areas of Focus

Limited Liability Companies, Partnerships, and S-Corporations

  • Counsel clients on the prudence of using limited liability companies, partnerships, S-corporations and other business entities to achieve business and tax objects;
  • Provide client representation on both the tax and non-tax aspects of business entities in a wide variety of capacities including financial arrangements, compliance, governance, statutory and agreement interpretation and fiduciary duties;
  • Help clients solve problems and develop tax-planning opportunities that meet the needs of their business(es) through shareholder agreements, operating agreements, buy-sell agreements, incentive compensation, employee retention plans, and other organizational agreements;
  • Structure complicated economic arrangements that involve special allocations of income and loss and multiple classes of ownership interest.

Individual Tax Planning

  • Advise individuals, trusts and estates on tax planning, tax return preparation, and audit issues;
  • Design and implement business and transactional plans that produce maximum client tax savings;
  • Advise clients on deductions, the timing of transactions, the proper form of business entity and operation, and the administration and reporting of business and capital transactions for tax purposes;
  • Utilize charitable gifting strategies that maximize tax savings.

State and Local Taxes

  • Advise clients on a wide range of issues associated with state and local income tax, commercial activities tax, sales and use tax, real property tax and more;
  • Offer guidance regarding compliance, state tax nexus issues, structuring transactions to minimize state and local tax, and representation with state audits and assessments.

Tax Controversy and Compliance

  • Provide solutions to individuals, businesses, estates, and trusts with tax disputes involving the Internal Revenue Service and state taxing authorities;
  • Assist businesses with tax controversy issues that may result in financial hardship or the closure of businesses;
  • Assist clients with audits, offers in compromise with the IRS, installment agreements, levies, liens, disclosing offshore accounts, payroll tax issues, and settlements with state taxing authorities.

Real Estate and Workouts

  • Structure and advise on tax defined § 1031 like-kind exchanges, capital asset verses developer real estate characterization, tax implications of workouts and restructurings, and structures which minimize both tax and non-tax liability exposure;
  • Assist clients with the acquisition and development of real property (including tax advice regarding the structure of ownership entities and joint venture transactions), financing of real property assets, sale/leasebacks, like-kind exchanges (including tenant-in-common arrangements), and dispositions of real estate.

Tax-Exempt Organizations

We deal with a wide range of issues for both public charities and private foundations:

  • Assist organizations in their formations to acquire formal tax-exempt status from the IRS;
  • Counsel on unrelated business income tax issues, such as:
    • Compensation
    • Compliance
    • Solicitation
    • Structuring and implementing joint ventures
    • Affiliations
    • Mergers;
  • Obtain real property and sales tax exemptions;
  • Counsel clients on prohibited transactions and excess benefit transactions.

Estate and Gift Tax

  • Provide representation on estate planning, wealth transfer and management matters to individuals and families, estates and trusts, closely-held businesses, foundations, and fiduciaries. 

Income Tax Preparation and Compliance

  • Prepare income taxes for businesses, individuals, tax-exempt organizations, trusts, and estates; 
  • Prepare estate tax returns and gift tax returns;
  • In the prior year, we prepared the following tax returns:
    • Over 925 income tax returns for individuals
    • Over 140 income tax returns for either LLCs, S corporations, or C corporations
    • Over 80 income tax returns for trusts or estates
    • Over 70 tax returns for tax-exempt organizations
    • Several gift tax returns and estate tax returns

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Keith & Associates, PLLC
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