“The hardest thing in the world to understand is the income tax” – Albert Einstein
Understanding the federal, state and international tax implications of business or asset sales, equipment purchases, asset based financing, business formations and other business transactions and of personal estate planning transactions is an integral part of the decision–making process in connection with the structuring of these transactions.
At Clemons Richter & Reiss, PC, we seek to carry-out our firm’s mission of providing the highest quality and sophistication within the framework of a smaller, more flexible, law firm. As a result, our clients tend to be business organizations, including corporations; limited liability companies and partnerships; successful individuals; fiduciaries; and non-profit organizations, who value a business partner with a shared passion for attaining business goals in an efficient and proactive manner.
We are “big picture” thinkers who assist clients in meeting their business objectives without overwhelming clients with the technicalities of the tax code. We strive to use our technical knowledge as a foundation upon which our clients’ objectives can be met, and not as a barrier or impediment to progress.
Our tax engagements can generally be characterized as either tax planning or tax dispute resolution.
Tax Planning
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes.” – Judge Learned Hand
On the tax planning side, our tax attorneys work closely with attorneys in the firm’s other practice areas and with advisors outside the firm in order to assist our clients with the tax aspects relating to the formation of business entities, mergers and acquisitions, sales of businesses and other property, financings, workouts, reorganizations and bankruptcies. We are regularly called upon to structure investments and businesses with joint ventures and controlling interests in businesses.
Other tax areas in which the firm is involved are personal property taxation, property tax appeals, taxation of corporations, LLCs and partnerships, executive compensation and employee benefit plans.
Tax Dispute Resolution
We also represent taxpayers in connection with tax controversies at all stages including audits, administrative appeals and court actions in federal and state tax cases. We have particular experience in tax controversy work involving individual and corporate income taxes, payroll taxes, offers in compromise, 100% penalty cases, workouts, payment arrangements, liens and levies and collections.
Please contact our firm at 215-348-1776 to schedule a free Tax Law consultation.
