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Sole
Proprietors/ DBAs:
As a sole proprietor or someone who conducts
your business in your name or a DBA, we advise
you to register such business with your city
or county, obtain a tax identification number,
maintain a separate bank account and keep
good records of all business transactions.
Depending on the type of business, your exposure
to personal liability is maximum and there
is also a high risk of audits. We will counsel
you on the most appropriate structure based
on your needs.
Corporations:
S or C Corporation:
We will perform the required formation formalities
necessary to get your business in compliance
with State and Federal laws. If you elect,
we can help your business maintain compliance
with various State and Federal Laws throughout
the year, review and analyze your business
contracts and other business related documents.
We organize and structure business entities
such as Corporations: S and C Corporations,
Limited Liability Company (LLC), General Partnerships,
and Limited Partnerships, Draft your Buy-Sell
Agreements, help with the Sale and Purchase
of Business Assets, Stock Transfer and Corporate
Restructuring. We may also devise a Business
Succession Planning technique to enable you
seamlessly transfer ownership of your business
interest to your desired successors.
Limited
Liability Company (LLC), Partnerships:
Limited
or General
We can formulate an Asset Protection strategy
to insulate your business assets from liability,
through the use of entities such as Family
Limited Partnerships (FLP), Limited Liability
Company (LLC), or in combination with other
entities. These vehicles are also tax-efficient
entities that enable you to shrink the size
of your estate through various discounts reducing
or eliminating estate tax liability at death.
They are also vehicles that may be used for
smooth business assets transfer within your
family from generation to generation.
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Tax
Planning Strategy:
We can devise a tax strategy unique to your
business needs aimed at proactively reducing
your tax liability annually by taking advantage
of the various complex provisions of the Internal
Revenue Code and Regulations, California State
Revenue and Taxation Code and Regulations,
and other applicable laws. Depending on your
needs, we may advocate an aggressive, yet
legal approach towards formulating a tax strategy
beneficial to your business.
Business
Succession Planning:
We can counsel your business on the most tax
efficient means of seamless transfer of your
family business assets from one generation
to another to maintain control of your business.
We create and use Buy-Sell Agreements, Family
Limited Partnerships (FLP), Limited Liability
Company (LLC), Sale and Purchase of Business
Assets, Stock Transfers, and Corporate Restructuring
to accomplish or maintain family control.
We pay particular attention to the unique
needs of each transaction and formulate a
plan most suitable for that need. We will
discuss and strategize with the client to
bring them to a working understanding of the
transaction before we proceed.
Nonprofit
Entities:
We also counsel your nonprofit organization
on various complex tax and business issues
that are often ignored or unattended to comply
with the increased scrutiny of non-profits
for compliance by the Internal Revenue Service
through the years. We will help you perform
the necessary formation formalities, and obtain
the Determination Letter confirming the Nonprofit
tax-exempt status from the Internal Revenue
Service (IRS), if applicable.
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