Choosing the best business formation to conduct business or hold assets is an art that combines critical analysis and informed intuition derived from experience. Successfully planning to protect against contractual or tort liability, promote managerial and operational efficiency, and minimize income, employment, transfer, and property taxes requires listening to the client’s vision, allowing the client to make an educated decision, and forming the corporation, general partnership, limited partnership, limited liability partnership, limited liability company, trust, or joint venture agreements.
Youngman Ericsson Scott, LLP is experienced in helping business owners protect assets and minimize taxes and is one of the few Northern California Attorneys experienced with the California Private Retirement TrustSM
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“Business owners often get so busy with day-to-day operations they end up losing thousands if not hundreds of thousands to poor tax planning. Even worse they can lose a lifetime of hard work in one lawsuit in California’s highly litigious pro-creditor environment. It’s my job to proactively help them take advantage of all the available forms of tax minimization and legal protection strategies.
Traditional tax asset protection vehicles like corporations, partnerships, and LLCs are only a part of the solution. These are vehicles that can offer some protection in some circumstances. There are much better time tested options available for business owners in California, but I’ve found very few business owners are aware of the protections available to them under state and federal law.
“We analyze all of a business owners tax and creditor exemptions under the law. We had one client so disgusted with California’s tax and litigation environment he came into my office wanting to move to Texas for relief. After we did the analysis and showed him what tax and creditor exemptions were available to him in California, he realized if he moved he’d being taking a step down. Not only in terms of lifestyle but in terms of asset protection.”
Call us today and learn how to protect your lifetime of hard work.
We have followed the statutory restrictions on deferred compensation since their passage and can plan to avoid the harsh penalties for non-compliance. We have negotiated and drafted executive compensation agreements and work with the client to obtain the compensation package that fulfills the client’s expectations.
We are well acquainted with the legal issues that arise when obtaining debt financing or extending credit, as well as the tax and legal implications of debt gone bad and steps to ameliorate unintended credit and tax consequences that arise in the default setting.
We are able to combine practical business experience and broad taxation expertise in helping clients sort through the complicated legal and tax issues that arise in the context of combining or restructuring businesses.
We represent clients in resolving business disputes through negotiation or litigation–particularly in matters that allow us to draw upon our core areas of expertise, such as partnership accounting disputes, fiduciary duty litigation, executive compensation disputes, and ERISA and non-ERISA retirement plan benefit disputes.
We structure and document a wide variety of business transactions, including preparation of real property leases, software licenses, employment agreements, buy-sell agreements, buy-out agreements, releases, development agreements, and any other business transaction that can be reduced to writing.