Corporate Tax Lawyer
Smart entrepreneurs and investors know that a corporate tax strategy is essential for financial success and that tax planning is integrated into the very earliest stages of business development.
A corporate tax lawyer can help put a new venture on firm footing from the very beginning, avoiding many of the common pitfalls of startups. For established firms, a corporate tax lawyer can handle complex contract and compliance issues and strategize ways to maximize value.
What Is a Corporate Tax Lawyer?
A corporate tax lawyer offers tax advice and guidance to businesses and business owners. An expert corporate tax lawyer helps businesses:
- Minimize risk. Tax liability can be a significant source of exposure for some businesses. Tax planning should be integrated into every phase of business development and growth in order to minimize risk.
- Manage compliance. Corporate tax law is ever-changing, with frequent instances of new legislation and regulation. Seemingly small changes in tax law can have sweeping implications for business, and compliance issues require expert analysis and guidance.
- Maximize value. A corporate tax lawyer not only helps businesses minimize risks but can also help take advantage of opportunities. Finding the most advantageous way to structure your business, manage growth and development, and leverage tax breaks and incentives is the job of a corporate tax lawyer.
A corporate tax attorney works in concert with a CPA, monitoring the legal and regulatory environment for tax planning and opportunities, while a CPA guides the application of the tax strategy to specific reports, documents, and filings.
Common Corporate Tax Planning Matters
Generally speaking, businesses will need to retain a corporate tax lawyer for guidance on these types of transactions:
- Structuring LLC, partnerships, joint ventures, and other corporate entities. Depending on the nature and location of the business, the type of corporate structure determines which type of tax law will apply. Considering all the tax advantages and implications is essential in order to choose the right corporate entity for your needs, and it is critical to engage an experienced corporate tax attorney to analyze this decision and plan accordingly.
- Acquisitions, mergers, reorganizations, and spin-offs. Every major acquisition or reorganization has tax implications and creates both risk and opportunity. A comprehensive corporate tax analysis should be done in order to ensure compliance and minimize risk as businesses grow and restructure.
- Venture capital, private equity, and other investments. Investment income is an ever-changing and complex area of New York tax law. Venture capitalists face high financial risks but can also take advantage of certain tax incentives and exemptions. A corporate tax lawyer can offer advice and guidance to reduce risk when investing.
- Executive compensation. Executive compensation is another complex area of New York law, and how a business structures this compensation determines the conditions of recruitment, employment, and severance of high-level executives. Bonus, stock options, equity grants, retirement funds, and other benefits have widespread tax implications for the company and the executive and should be planned with a corporate tax attorney.
- Real estate transactions, from acquisition to disposition. Corporate and commercial real estate is another complex legal area with broad tax implications for a company. A corporate tax lawyer can help guide these transactions with an optimized tax strategy.
- Debt and bankruptcy. Not every venture is an immediate success. In fact, most businesses experience financial hardship at some point and need to manage debt, cash flow, and other issues. Bankruptcy is only one of many options for dealing with debt, and there are different types of bankruptcy with different financial consequences. If your business is dealing with financial hardship, especially tax debts, it is crucial to consult a corporate tax lawyer.
A corporate tax attorney helps guide all types of corporate planning and decision-making and can also assist with negotiations and representation, ensuring that you have a legal partner for all stages of your business.
How a Lawyer Can Help with Corporate Tax Planning
A tax lawyer offers advice and guidance that shapes financial strategy and tax planning. They also provide legal services for certain contracts and transactions, helping to ensure compliance. Some of the ways a lawyer can help with tax planning are:
- Helping to reduce tax liability. Reducing liability starts at the very beginning, with choosing the business entity and structure.
- Identify deductions and credits. Businesses have a wide range of available tax deductions and credits, which should be optimized.
- Take advantage of incentives. Corporations and investors are eligible for a variety of tax breaks and incentives that help offset risk and maximize value.
- Assist with audits and disputes. In the case of tax problems, audits, or disputes, a corporate tax lawyer will represent your interests.
The Fridman Law Firm offers comprehensive concierge legal services to entrepreneurs, startups, and businesses of all kinds. Our experience and expertise help businesses grow with confidence, offering strategic planning that supports innovation and growth.
The Fridman Law Firm combines legal expertise with experience in investing and finance, along with innovation and entrepreneurship, to offer corporate tax legal services that meet your needs at every stage. We partner with our clients, working together for your success. Contact us today or call 212-262-9823 to schedule a consultation.