Tax Planning

Individual/Corporate/Partnership/Tax Planning

We review, weigh and make recommendations for the most advantageous methods of structuring business and/or personal agreements, provide comprehensive tax planning and, if necessary, represent clients during tax audit proceedings.

Multi-State Tax/Nexus Planning

Certain business activities, as insignificant as they may seem at the time, may establish nexus, a connection with a state that subjects you to its tax laws. In fact, you may have unknowingly had nexus with a state for many years. In rare cases, you might even be responsible for back sales tax, franchise tax and/or income taxes, penalty and interest for past years. Since almost every state is faced with serious financial problems these days, this is a bigger issue now than in the past. States are increasingly aggressive in seeking revenue, and a popular source of this revenue is out-of-state companies. BAKER SPINDLER HOLTZ can help determine if nexus has occurred in other states and, if necessary, help you take steps to reduce your exposure and liability before discovery.

Estate and Gift Tax Planning

A gift tax is a tax imposed on the gratuitous transfer of ownership of property. The tax is generally imposed on the donor (the giver) rather than on the recipient. A transfer is completely gratuitous when the donor receives nothing of value in exchange for the gifted property.

The estate tax is a tax imposed on the transfer of the “taxable estate” of a deceased person whether such property is transferred via a will or according to state laws. In addition to the federal government, many states also impose an estate tax, with the state version called either an estate tax or an inheritance tax.

Baker Spindler Holtz can help you plan for these often complicated transfers of assets in ways that keep gift and estate taxes to a minimum.