Whether you are an individual, an individual running a small business or an officer of a mid-size or larger business, you may be subject to a dispute by the IRS regarding your filed tax return, payment of income, employment and other taxes. The IRS may have also sent collection notices to you. It is important that you contact an attorney immediately after you receive any notices from the IRS to determine your legal rights and to preserve any rights of appeal or rights to dispute the IRS claims.
Individual and Business Tax Planning
As an individual, you may have real or personal property investments potentially subject to taxation, or that give rise to certain tax issues requiring tax planning. The Abrahams Law Firm can help you achieve your tax planning goals and objectives.
Business Entity Formation
Whether you elect to form a corporation, partnership, limited liability company or other type of entity for purposes of ownership and operation of a business or investment, the Abrahams Law Firm can advise you as to choice of entity, and can prepare your entity documents for required filings with state agencies.
Business Expansion and Succession Planning
You may be thinking about business entity conversion, creating additional business entities or changing ownership of an existing business entity. The decisions you make may become more complex in family businesses. The Abrahams Law Firm can guide you through the process to achieve your planning goals and objectives.
Real Estate Tax Planning
Whether you own only your personal residence or multiple investment properties, tax issues such as your gain on the sale of your principal residence, short sales, 1031 exchanges and involuntary conversions may surface. Proper tax planning can alleviate potential tax pitfalls along the way.
Whether you own a house, car, a special family heirloom or have concerns about providing for your family at your death, you need sound estate – planning legal advice. If you do not have estate planning in place, your estate will pass under the laws of intestacy, and not in the way that you intended. The Abrahams Law Firm can help you meet your estate planning needs.
Wills and Trusts
Your estate requires a simple Will, a trust or a combination of both types of legal instruments. You may need a series of trust agreements to protect certain assets or investments from creditors, or to provide support for family members and others. The Abrahams Law Firm can provide you guidance in determining the proper path.
When friends, family and loved ones become deceased, such persons may have owned assets that are subject to probate jurisdiction. In such a case, the personal representative named in the decedent’s Will (or one who wishes to apply to the Register of Wills or Probate Court to act as personal representative of an estate) must open up a probate estate. The Abrahams Law Firm can prepare probate documents and otherwise counsel and assist the personal representative in administering a probate estate.
Preparation and Review of Contracts
Before entering into an agreement that will likely become legally binding, one should consult an attorney to either prepare or review a contract. Legal agreements include but are not limited to employment contracts, real estate agreements or bank loan documents.
Tax Issues affecting Divorce and Separation
Before signing a marriage dissolution, a legal separation agreement or any agreement in connection with a divorce proceeding, one should consult a tax attorney to discuss any tax ramifications of terms and provisions to such agreements.