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Tax Issues

Scott K. Tippett Serving Summerfield, NC, Greensboro, NC and the surrounding area

Two things in life are certain: death and taxes. The only difference is that when Congress meets death does not get any worse. - Will Rogers

Corporate and Partnership Tax Matters

Tax issues are interwoven into virtually every business transaction. Only experienced counsel with solid judgment can provide comprehensive business and tax planning. I counsel and assist clients with:

  • Series llcs
  • Captive insurance companies
  • Corporate and partnership conversions
  • Business acquisitions and spin-offs, including taxable and tax-free mergers
  • Corporate tax planning for C-corporations and S-corporations and their shareholders
  • Corporate formation, reorganization, liquidations and distributions
  • General business tax planning, including selecting appropriate entities, business continuation planning and general tax issues
  • Design and analysis of complex partnership and limited liability company arrangements
  • Structuring real estate transactions, including like-kind exchanges and other tax deferral techniques
  • Tax audit and tax controversy practice, including negotiation of post-audit offers in compromise
  • Tax litigation in Federal District Court, Federal Court of Claims, United States Tax Court, United States Circuit Courts of Appeal and various state courts
  • State and local tax planning
  • Creation, qualification and operation of tax-exempt entities
  • State and local tax litigation including property tax litigation and litigation of corporate sales tax and partnership

Individual Income Tax Issues

The individual income tax implications of many business, estate planning and asset planning transactions are frequently overlooked in the planning process. Given the increasing use of flow through tax entities such as s-corporations, series llcs, and llcs taxed as partnerships or s-corporations, failure to consider the individual income tax implications of various transactions and planning techniques can result in substantial income tax liabilities, penalties and interest. I advise and counsel clients regarding:

  • Individual income tax planning
  • Qualified and non-qualified deferred compensation planning
  • Estate and gift tax planning
  • State income tax planning, including domicile issues
  • Taxation of offshore accounts, including FBAR filing compliance
  • Property tax appeals
  • Individual income tax assessments