Succession Planning + Exit Strategies
After spending their entire life working toward building a company, owners must also learn that their involvement will someday come to an end. The desire to maximize the value of the company is always a key factor in this consideration. This will include developing key management, establishing value through financial statements, and building goodwill. An owner may transfer his equity of the company to family members, key employees, all employees (through an Employee Stock Ownership Plan) or to third party purchasers. Properly structuring the transaction in any of these methods is crucial to ensure the continued success of the company and remaining employees, minimizing the tax impact of the sale and making sure that owner notes to finance the transaction will be successfully settled.
Cost Segregation Studies
Cost Segregation Studies isolate shorter tax lives on real property assets to accelerate deductions and reduce taxable income. Based on an engineering study, you gain significant depreciation write-offs, even allowing you to catch up prior years’ depreciation. Through a landmark Tax Court Case, taxpayers have gained the ability to segregate their real property assets into the underlying use of the assets tax lives, often reducing the depreciable life from 40 years to 5 to 15. This opportunity can be used for purchased or constructed buildings of most industries.
Mergers + Acquisitions/Due Diligence
Don’t be shortchanged or taxed to death on your buy/sell transactions. Opportunities exist to modify the taxation or deductibility of equity sales and purchases. However, there are also a lot of hidden traps, and only very experienced advisors such as Berman Hopkins can help you navigate these waters.
IRS Negotiations + Controversies
Berman Hopkins has an outstanding history of favorable results in tax controversy cases both federally and at the state level. Using our immense technical expertise combined with a great mutual respect with tax agents we have saved clients hundreds of thousands of dollars in taxes and penalties.
Liability Protection + Entity Selection
Our goal is to protect your wealth. How you organize or reorganize your business is critical to building your business wealth and protecting it from creditors. Berman Hopkins provides expert consultation that prepares our clients to effectively navigate liability protection and entity selection.