The Firm provides sophisticated tax planning to individuals, private businesses and public corporations to help minimize tax liability. All business, whether individually owned, a partnership, a nonprofit organization, or a large company, require professional assistance to ensure compliance with the myriad of rules and regulations. GluckWalrath is characterized by the skillful and expeditious handling of even the most complex tax related issues.
Almost all business transactions, including forming a new business, expanding an existing business or selling all or a portion of a business, have some tax implications. The Tax Law team of attorneys assists clients through the inestimable number of tax rules that apply to specific business entities, including corporations, partnerships, LLCs and LLPs.
The Firm provides direction and advice with respect to:
- Structuring complex corporate and partnership transactions to
conform with federal and state tax requirements
- Analyzing the need for, or the impact of, a corporate reorganization; and
- Assessing the tax consequences of real estate transactions
One function of the IRS is to make sure that the tax rules are fulfilled. Often, when it decides to review a transaction by audit, legal assistance is needed. Other times, the assistance of the IRS may be needed where a transaction is very complex and written guidance is needed to structure the transaction. At times, litigation may be necessary, either involving the IRS or a state taxing authority. In such cases, GluckWalrath assists clients at both the federal and state levels.
A popular investment for the last 15 years has been entities that generate low-income housing tax credits. The Firm educates and advises clients in the formation and syndication of partnerships and LLCs that construct low-income housing projects, to ensure the projects meet the intricate requirements for such tax credits.
Non-profit corporations often require unique services. The Tax Law attorney team provides support with their formation and approval under State law, and approval as a tax-exempt entity by the IRS. GluckWalrath’s recent accomplishments include: the formation of nonprofit education/technology foundations for various school districts in New Jersey, the formation of a tri-county, 11-member consortium of school districts as a nonprofit corporation, the incorporation of five parent teacher organizations for a local school district, and obtaining 501(c)(3) status from the IRS for each of them.
GluckWalrath’s recent accomplishments include:
- The formation of nonprofit education/technology foundations for
various school districts in New Jersey
- The formation of a tri-county, 11-member consortium of school
districts as a nonprofit corporation
- The incorporation of five parent teacher organizations for a local
school district, and obtaining 501(c)(3) status from the IRS for
each of them