Tax Law

Maynard Nexsen’s Tax Group is experienced in advising and representing clients concerning all types of federal, state/local and foreign taxes. The Firm provides general tax planning advice, tax consulting on business and personal activities and transactions, and tax controversy counseling and representation. Our services include:

• Entity selection
• Equity incentive plans
• Executive compensation
• Intellectual property transactions
• International tax issues
• Non-profit taxation
• Partnership taxation
• Real estate tax issues
• State and local taxation
• Tax controversy
• Tax planning in structuring mergers, acquisitions, reorganizations, spin-offs and joint ventures

Our attorneys assist publicly traded, privately held and tax-exempt entities with developing tax strategies that comply with the taxing authorities as well as protect and preserve their assets. Our clients include:

• Emerging technology companies
• Family owned businesses
• Individuals
• Joint ventures
• Limited liability companies and partnerships
• Private equity funds
• Public and private corporations
• Tax-exempt organizations
• Venture capitalists

Maynard Nexsen’s Tax Group boasts multiple attorneys with Masters of Law in Taxation and Masters of Accountancy and is prepared to handle any tax issue or problem, no matter how complex. We have experience in all facets of federal and state taxation and our team includes business attorneys, litigators and former IRS District Counsel. Together, we help businesses and individuals understand and comply with complex tax rules and strategically plan to minimize their tax burdens.

A wide range of tax matters

Tax law touches every transaction, person and business, throughout our lives and at our deaths. Even organizations that are exempt from taxation, such as tax-qualified retirement plans, tax-exempt organizations, and governmental entities, must abide by tax law requirements to maintain their status. Our tax attorneys are regularly engaged to:

• Advise companies on the adoption or maintenance of retirement and insurance plans for their employees
• Assist with administering estates and trusts
• Customize estate plans to the individual needs of clients and their family members across generations
• Design and implement executive compensation plans for key management and highly compensated employees
• Help companies with business succession planning, corporate mergers and acquisitions, the maintenance of or conversion to Subchapter S corporation status, partnership allocations and the maintenance of capital accounts
• Provide counsel on tax and information return filing requirements, the reporting of wages and other types of income, and withholding requirements

 

Tax Controversy

Sometimes, despite the best efforts of expert tax lawyers and CPAs, federal, state or local government authorities may decide to audit tax returns or even challenge them. In those cases, you need experienced, deeply knowledgeable legal counsel representing you.

Our attorneys collaborate with clients to achieve the best possible outcome in administrative and judicial proceedings. Our goal, always, is to help clients achieve their personal and business objectives by providing sound counsel rooted in extensive legal experience.

We represent individuals, fiduciaries, corporations, partnerships, other business entities and organizations before the Internal Revenue Service, including the Appeals Office. We also handle matters before state and local tax authorities in connection with examinations of our clients’ tax returns. 

Our tax litigation attorneys frequently appear before judicial forums that resolve tax matters, including:

• United States Tax Court
• United States Bankruptcy Courts
• United States District Courts
• United States Court of Appeals for the Fourth Circuit
• United States Court of Appeals for the Federal Circuit and state trial and appellate courts

Tax Planning for Individuals and Pass-Through Entities

Our experienced tax attorneys offer advice and assistance to many types of pass-through entities, including limited liability companies, S Corporations, limited partnerships and general partnerships. Our planning often involves:

• Assistance with issues involving the termination or liquidation of entities
• Conversion of a C Corporation to a S Corporation
• Entity selection to achieve business and tax objectives
• Preparing operating agreements and partnership agreements with allocations that comply with IRC Section 704(b)
• Structuring buy-sell agreements that protect closely held businesses and minimize income and estate taxes
• The admission of new members, partners, or shareholders
• The specific tax issues affecting S Corporations
• Working closely with our estate planning and wealth transfer attorneys to ensure the business owner’s transfer taxes are minimized

Our tax attorneys also help high-net-worth individuals, executives, and clients who operate professional businesses, such as medical, dental, and legal practices. We can help minimize taxes and ensure compliance with tax laws. Our services include:

• Advising on how to minimize taxes on investments such as stocks, bonds, municipal bonds, and other traditional investments
• Assisting with planning for stock options and restricted stock plans
• Consulting with clients on tax issues related to complicated investments such as hedge funds and derivatives
• Helping clients choose the best retirement savings vehicle
• Projecting tax liability for the year and planning throughout the year to minimize tax liabilities
• Providing a structure that provides asset production for individuals and their families
• Reviewing executive compensation plans and benefit plans to ensure the greatest benefit is achieved with the lowest tax cost
• Selecting the best entity to own investments and operate related businesses

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