Paley Rothman was founded by attorneys concentrating in taxation, and, as a result, our tax group has substantial experience in all aspects of business transactions and operations including corporate taxation, partnership taxation, corporate capital transactions, reorganizations, acquisitions, real estate, syndications, estate and gift taxation, pension and employee benefits, foreign taxes, tax-exempt organizations and state and local taxes. The firm regularly represents clients in tax matters before the Internal Revenue Service, the U.S. Tax Court and U.S. District Courts.
The ever-changing nature of the tax code requires that we continually monitor new developments. Our tax attorneys teach, lecture and publish on both a local and national level, and are regularly called upon to analyze and submit comments on proposed legislative and regulatory changes to the tax code. Members of the firm are actively involved in the tax sections of the American Bar Association and various state and local bar associations.
Tax Planning for Transactions
We advise business and individual clients on tax planning from a project’s inception through every stage of negotiation. Our tax attorneys structure and negotiate mergers, acquisitions and sales of businesses.
Tax-beneficial Business Structures
At every point in a company’s development, we formulate business structures that utilize available tax benefits. An entity’s initial formation as a corporation, LLC, partnership, joint venture, trust or sole proprietorship is not the final step in this process, which must reflect the longer-term business plan of the client. The tax implications of profits or losses must be reviewed in light of the tax situations of the prospective business owners. Our attorneys also provide unique assistance in planning for venture syndication and for the offering of securities to investors and venture capital groups.
Tax Litigation and Administrative Practice
We handle all types of administrative proceedings with the Internal Revenue Service and state taxing authorities. We also litigate tax cases when litigation appears to be the best way to resolve disputes. Many of our attorneys have prior government experience, giving them special insight when evaluating the strengths and weaknesses of the government’s case.
Our tax attorneys are highly knowledgeable about complex federal and state reporting laws. We determine the appropriate reporting positions that should be taken by taxpayers, corporations, LLCs, partnerships, individuals, trusts, estates and other entities. Toward that end, we coordinate closely with our clients’ accountants and other professional advisors.
Certain types of employee and executive benefits receive favorable income tax treatment. We have developed an in-depth understanding of the various and unique benefit programs, including retirement plans, cafeteria plans, medical and disability benefit plans and deferred compensation plans. Our attorneys also design and advise employers and employees regarding short and long-term compensation plans.
We help clients establish tax-exempt organizations and qualify them with the IRS. Our attorneys represent associations and are familiar with their unique challenges. We also help organizations obtain and maintain 501(c) status and work extensively with domestic and international foundations.
Our estate planning attorneys are well versed in techniques that reduce or eliminate federal estate and gift taxes. They regularly deal with complex estate planning techniques and also work closely with our employee benefits attorneys to coordinate the income and estate tax ramifications of retirement planning. We have advised clients on the unique estate tax problems involving non-U.S. citizens, and the use of qualified domestic trusts (QDTs).