Our Firm has a full-service Tax and Estate Planning Practice Group capable of servicing virtually all the tax requirements and estate planning needs of our clients – whether incident to an essentially non-tax matter, such as the acquisition or sale of a business or real estate, or to a purely tax-oriented matter.
We offer our clients up-to-date assistance with respect to the content and effect of new legislation with often wide ranging impact.
Tax Advantages for Business
Our attorneys provide up-to-date tax advice to operating businesses of all sizes, as well as to individuals, partnerships, corporations, trusts and estates and tax-exempt organizations (including pension and other deferred compensation plan trusts). We work closely with each client’s accountant, insurance advisor, stockbroker or financial advisor, pension and profit sharing plan administrator or other financial advisor.
We walk our clients through the myriad of tax questions that arise in the course of corporate and business transactions. These questions can include determining whether a transaction should be structured as a taxable sale, involving increased potential for depreciation by the purchaser, or a tax-free transaction ranging in complexity from a standard statutory merger to a reverse-triangular merger.
Other examples are the structuring and drafting of buy-sell agreements to achieve desired income, estate, sales and property tax benefits, planning and capitalization of new corporations, determining the desirability of S corporation elections, and avoiding personal holding company and accumulated earnings penalty taxes.
Tax Planning & Real Estate
Lewitt Hackman offers tax advice as an important adjunct to a variety of Los Angeles commercial real estate matters. Services extend to counseling real estate partnerships (including special allocation questions under the complex regulatory limitations), structuring of transactions to qualify as tax-deferred exchanges, minimizing the potential of real property tax reassessments on transfers of property and shifts of ownership interests, and structuring installment sales to defer taxable income and avoid the restrictions on such sales to related parties.
Our Firm advises clients on the effective use of programs such as pension and profit sharing plans, incentive stock option plans, deferred compensation, consulting agreements, loans and other types of compensation planning. Clients consult with our attorneys concerning plan loans, rollovers and avoiding potentially prohibited transactions and the problems raised by below-market interest loans, as well as the structuring of termination of and payments from employee benefit plans to avoid inherent tax traps.
Business Entities and Structures
Services to tax-exempt organizations encompass the initial obtaining of tax-exempt status from the Internal Revenue Service and state taxing authorities, the structuring of the entity as a publicly supported charity exempt, when applicable, from the private foundation rules and counseling on the rules limiting or prohibiting transactions between the organization and its insiders or major contributors.
Membership by Lewitt Hackman’s attorneys on boards of tax-exempt charitable organizations provides additional insight enabling our Firm to better handle the problems faced by these unique entities.
Our Los Angeles Tax Attorneys have substantial experience handling transactions for individuals with a high net worth or a business to protect. We draw on the expertise of various attorneys in our firm whenever necessary to give our clients the best possible advice. To speak to someone in our practice group, please contact us at (818) 990-2120 or e-mail us now.