Tax Planning for San Jose Businesses
Strategy Law, LLP business attorneys work closely with our clients’ other advisors, including financial advisors and certified public accountants, as a team. We find this team approach is critical to structuring business transactions to achieve the best tax consequences for our clients. This includes copying your other advisors on completed entity formation documents and contracts so that they have what they need to advise you later, such as at tax time.
Our attorneys take tax planning into account when structuring a business contract for capital gains rather than ordinary income taxation. We form partnerships and limited liability companies using our knowledge of complex partnership tax allocation rules to set up the entity correctly, and work with the company’s accountant to make sure that all of the company’s advisors have the same expectations going forward, and can advise the business owners accordingly. When our lawyers assist a client with the choice of entity decision for their new business, we not only address potential state franchise taxes, but also always try to involve the company accountant to make sure income tax consequences of both the company and the owners are taken into account. We feel that an important part of our job as company counsel is to explain business taxes to our clients, or work closely with their CPAs, so that they are not surprised later.
The real estate attorneys at Strategy Law, LLP have experience with Section 1031 deferred exchange planning, and our business attorneys have experience with forming tax-exempt nonprofit corporations, including applying for tax exempt status under both the Internal Revenue Code Section 501(c)(3) and applicable California statutes.
For more information and to make an appointment, contact Strategy Law, LLP at (408) 478-4100.