Taxation   

“Taxes are what we pay for a civilized society.” These are the words attributed to Justice Oliver Wendell Holmes, Jr., and inscribed on Internal Revenue Service headquarters.  Whether foreseen by Justice Holmes nearly a century ago, taxation has now become a ubiquitous and inextricable part of our civilized life.

Tax issues influence how businesses are formed, managed and operated, deals are structured and personal choices about property are made.  Bean, Kinney & Korman has the depth of knowledge to advise its clients about the tax consequences of their decisions and represent them when they face assessment action by taxing authorities.

Business Tax Services

Our tax practice is wide-ranging, covering the tax issues you and your business will likely face, including:

• choice of business entity form;
• tax treatment of pass-through entities, such as limited liability companies, partnerships and subchapter S corporations;
• tax aspects of mergers and acquisitions;
• employee benefits and compensation issues, including qualified and non-qualified plans;
• ERISA matters;
• formation of tax-exempt entities and exemption compliance; and
• federal taxation of foreign businesses and operations (inbound and outbound).

Individual Tax Services

Our tax practice also covers estate planning, business succession planning and family wealth transfers for high net worth individuals and closely-held businesses of all types.

Tax Controversies and Contests

Our attorneys have extensive experience handling controversy work with the IRS, including audits, appeals and pretrial tax litigation. We are skilled in handling significant state income tax controversy work with various tax agencies for income, sales, use, personal property and estate taxes.

We have experience challenging assessments on personal and real property in Virginia and have often succeeded in appeals of local assessments, both administratively and in court.

We welcome the opportunity to assist our clients to minimize their tax exposure, save taxes when challenged by taxing authorities, structure tax-efficient business deals and undertake tax planning to reduce risks of future tax problems and liabilities.