Practice Highlights
- Tax planning for businesses and individuals
- Tax dispute resolution
- Wealth transfer and estate planning and administration
Practice News
Events
- October 13, 2020
Publications
- April 21, 2021
Cases & Deals
- October 8, 2019
Tax and Estates
Our goal in the Tax and Estates Group is to help our clients reach their personal and business objectives with a minimum tax burden. Together with our colleagues in various practice groups throughout the firm, our lawyers work with clients to identify and execute the most tax-efficient solutions available for their unique needs. Business owners considering expansion or sale of their businesses, families establishing wealth transfer plans and estate administrators all rely on the significant experience of our lawyers across multiple tax disciplines to identify overlooked opportunities and creative solutions.
As skilled listeners, we ask questions and carefully evaluate the needs of our clients in order to formulate effective tax saving and asset protection strategies. Our lawyers are well-versed in several subdisciplines, hold advanced degrees, and have years of experience in both government and the private sector. This depth allows us to assist a range of clients, from management teams considering corporate transactions and families considering complex estate planning matters, to the personal representatives of an estate navigating challenging waters.
We understand that the nuances of business transactions can be complex, and pride ourselves on our effective communication to provide clarity to our clients. We advise multi-generational families, closely-held businesses, entrepreneurs, large corporations and their shareholders, non-profit and tax-exempt organizations, partnerships, limited liability companies, S corporations, trusts, estates and family offices. We also regularly collaborate with private equity funds, investment bankers, financial, accounting and other professional advisors.
We provide practical legal solutions related to:
- Business formation and choice of entity
- Taxable and tax-free mergers, acquisitions and divestitures
- Real estate transactions, including Section 1031 like-kind exchanges
- State and local tax planning
- International taxes, including investment structuring, treaty issues, and transfer pricing
- Executive compensation, including non-qualified deferred compensation plans
- Tax qualified plans, including 401(k)s, profit-sharing and pension plans, ESOPs and 403(b)s
- Charitable giving and tax-exempt organizations
- Individual estate and income tax planning
- Wills, trusts and elder law planning
- Asset protection
- Estate and trust administration and probate litigation
- Tax dispute resolution
Tax
Our lawyers assist clients with issues including federal, state, local and international tax planning and the formation, operation and liquidation of various business entities. We stay abreast of the changing tax landscape and advise our clients accordingly, keeping their business interests at the forefront. Ultimately, our goal is to develop practical approaches that are consistent with individual and business objectives while reducing the overall tax burden whenever possible.
Working closely with clients, their other professional advisors and lawyers in other disciplines at the firm, we structure and implement taxable and tax-free business and investment transactions involving individuals, corporations, partnerships, limited liability companies, S corporations, trusts and estates.
Our business planning experience includes business entity transactional work, including formation, acquisition, mergers and disposition, transfers of businesses to succeeding generations as well as executive compensation across a variety of industries. We also employ experience in international business to advise on cross-border transactions as well as business and tax structures for U.S. investments abroad as well as foreign investment in the U.S.
Estate Planning and Administration
Our lawyers guide individual clients and their families through all phases of estate and wealth transfer planning, accommodating long-term objectives while being sensitive to current needs. With sophisticated knowledge and understanding of federal and state taxation, we devise plans that allow for the passage of wealth and assets across multiple generations while minimizing the transfer tax burden. We counsel young families with early stage planning as well as those with significant assets, including the ultra-high net worth, in all cases focusing on protecting and preserving family assets. We also advise individuals on ownership succession for closely-held businesses both during lifetime and by testamentary devise.
We take a collaborative approach to private wealth management, both in our internal structure and in our client relationships. Ensuring thoroughness and accessibility, each client is introduced to the appropriate lawyers and paralegals within the group to ensure that the client’s needs are fully and timely addressed. Additionally, we regularly partner with our clients’ other professional advisors, including accountants and investment managers, to create highly tailored and tax-efficient plans unique to each client’s specific needs and desires.
As part of our estate planning practice, we have developed significant experience in the design and use of irrevocable life insurance trusts, qualified personal residence trusts, family limited partnerships and limited liability companies, charitable remainder trusts and private foundations, generation-skipping trusts, grantor retained annuity trusts, and other sophisticated estate and income tax savings techniques. Our experience includes tax audits with the Internal Revenue Service and dealings with the Art Advisory Panel, Charities Bureau of the Attorney General’s Office and various Surrogate Courts.
Dispute Resolution
Our lawyers regularly represent clients before various administrative agencies and courts, including the Internal Revenue Service, U.S. Tax Court, state and local taxing authorities and numerous state probate tribunals. We have represented clients before the IRS and state taxing authorities in defending a variety of tax return positions. We also have successfully navigated the complex procedural issues presented by advance ruling requests, tax audits, administrative appeals, and tax litigation. In addition, we have significant experience in representing clients with offshore account disclosures, including the IRS Disclosure Programs and the state counterparts.
Representative Matters
Tax
- Worked with the owner of a privately held business in its acquisition by a private equity firm while deferring a significant portion of the owner’s gain from the ‘sale’ of such business
- Worked with a number of clients to qualify for and utilize state income tax credits to minimize their overall tax burden and improve the bottom line
- Worked with numerous board of directors and other business owners to create equity incentive compensation plans for key employees that provided significant income tax benefits, including deferral of the recognition of income
Estate Planning and Administration
- Represented a family of a closely-held family business in designing the transfer of the business to the 5th generation, by designing a transaction structured as a sale which did not yield income taxes and shifted ownership to the next generation without incidence of the gift tax
- Represented numerous clients in designing trusts and other arrangements for their family members that have special needs in order preserve assets, and allow the beneficiary to continue receiving the greatest level of support from other private and public sources
Dispute Resolution
- Represented a family business in a multifaceted IRS audit that resulted in a settlement in U.S. Tax Court where the multi-million dollar assessment was substantially reduced.
- Resolved multiple IRS audits on issues ranging from R&D tax credits, hobby losses, and depreciation adjustments, often with little or no adjustments.
- Represented numerous clients in state and federal voluntary disclosure programs (including failing to report foreign bank accounts) avoiding hundreds of thousands in penalties, and reducing additional taxes and interest that would otherwise be payable to taxing authorities
- Successfully represented a multi-state bank in administrative proceedings, as well as before state appellate courts including the state Supreme Court, challenging a state tax assessment of several hundred thousand dollars
News
- November 5, 2020
- November 5, 2020
- November 1, 2019
- October 17, 2019
- August 15, 2019
- June 10, 2019
- January 2, 2019
- November 1, 2018
- October 18, 2018
- August 15, 2018
- June 25, 2018Law360
- June 18, 2018
- November 11, 2017
- November 1, 2017
- August 15, 2017
- January 27, 2017
- November 1, 2016
- October 18, 2016
- August 15, 2016
- December 23, 2015
- October 22, 2014
- September 13, 2013Super Lawyers Magazine
- December 17, 2012
- October 6, 2011
- October 2011
Events
- New York City Bar’s Bridge-the-Gap Program (Webcast) | 1:05 PM – 3:05 PMOctober 13, 2020
- WebinarMay 28, 2020 | 2:00 PM - 3:00 PM
- WebinarMay 7, 2020 | 2:00 - 3:00 PM
- White and Williams LLP (Philadelphia, PA)November 6, 2019
- ACC (IBM, North Castle, NY)October 24, 2019
- White and Williams CLEApril 29, 2019
- National Society Daughters of the American Revolution, Peter Minuit Chapter (New York, NY)March 12, 2019
- White and Williams LLP (New York, NY)November 29, 2018
- Philadelphia Bar Association Bench-Bar & Annual Conference (Atlantic City, NJ)October 12, 2018
- Primer on ProbateNew York City Bar AssociationMarch 28, 2018
- Estate Planning PrimerNew York City Bar AssociationFebruary 28, 2018
- Jackson, NJJune 12, 2017
- Jackson, NJJune 12, 2017
- Estate Planning PrimerNew York City Bar AssociationMay 22, 2017
- Planning Techniques Using Grantor TrustsNew York University School of Professional Studies | Summer Institute in TaxationJuly 27, 2016
- Philadelphia, PAApril 7, 2016
- Introduction to the Probate Process and How to Avoid ItNew York City Bar AssociationApril 4, 2016
- How to Advise Your Trustee ClientInverness Counsel | New York, NYNovember 5, 2015
- National Business Institute, King of Prussia, PAJuly 22, 2015
- Executive Compensation Sections 409A and 280G: Selected Topics and ConceptsPhiladelphia, PAFebruary 2, 2015
- National Business Institute, Philadelphia, PAApril 28, 2014
- What do Succession/Wealth Planning & NBA Basketball Have In Common? Planning and TEAM work!Philadelphia, PAJanuary 16, 2014
- National Business Institute, Philadelphia, PADecember 9, 2013
- Legal and Tax Considerations When Selling a CompanyBusiness Tax Planning Guide, Philadelphia, PADecember 9, 2013
- National Business Institute (Philadelphia, PA)August 12, 2013
- National Business Institute, Philadelphia, PAJune 5, 2013
- National Business Institute, Philadelphia, PAApril 25, 2013
- National Business Institute (Philadelphia, PA)December 18, 2012
- Tax Planning for Trusts and EstatesNational Business Institute, Philadelphia, PAAugust 13, 2012
Publications
- April 21, 2021
- January 29, 2021Tax and Estates Alert
- January 5, 2021Tax and Estates Alert
- December 23, 2020COVID-19 Alert
- December 22, 2020Tax and Estates Alert
- December 14, 2020Healthcare Alert
- November 19, 2020Tax and Estates Alert
- November 12, 2020Tax and Estates Alert
- November 5, 2020Healthcare Alert
- November 2, 2020Tax and Estates Alert
- October 15, 2020Tax and Estates Alert
- September 8, 2020Real Estate Alert
- September 3, 2020Tax and Estates Alert
- September 2, 2020Corporate and Securities Alert
- June 25, 2020Real Estate and Finance and Tax and Estates Alert
- May 4, 2020Tax and Estates Alert
- April 20, 2020Tax and Estates Alert
- April 20, 2020Tax and Estates Alert
- April 17, 2020Tax and Estates Alert
- April 16, 2020BenefitsPRO
- April 14, 2020Tax and Estates Alert
- April 14, 2020Tax and Estates Alert
- April 3, 2020Tax and Estates Alert
- April 3, 2020Tax and Estates Alert
- March 30, 2020Tax and Estates Alert
- March 26, 2020Tax and Estates Alert
- March 25, 2020Tax and Estates Alert
- March 23, 2020Tax and Estates Alert
- March 16, 2020Corporate and Securities Alert
- January 21, 2020Tax and Estates Alert
- November 5, 2019The Legal Intelligencer
- August 5, 2019Tax and Estates Alert
- July 18, 2019Real Estate Alert
- June 13, 2019Taking Care of Business
- February 19, 2019The Legal Intelligencer
- Tax and Estates Alert
- November 5, 2018Taking Care of Business
- June 29, 2018Tax Alert
- May 24, 2018Tax Alert
- May 8, 2018Tax Alert
- April 27, 2018Tax Alert
- April 24, 2018Tax Alert
- March 8, 2018Tax Alert
- January 25, 2018Tax Alert
- December 28, 2017Tax Alert
- December 22, 2017Tax Alert
- December 21, 2017Tax Alert
- December 21, 2017Tax Alert
- December 21, 2017Tax Alert
- December 21, 2017Tax Alert
- September 5, 2017Tax and Estates Alert
- June 26, 2017Tax Alert
- June 15, 2017Corporate and Securities Alert
- Spring 2017
- May 2, 2017The Temple 10-Q
- April 24, 2017Tax and Estates Alert
- February 17, 2017Tax and Estates Alert
- February 14, 2017The Legal Intelligencer
- January 17, 2017Tax and Estates Alert
- December 30, 2016Tax and Estates Alert
- December 27, 2016Real Estate Alert
- October 25, 2016Real Estate Alert
- September 30, 2016Tax and Real Estate Alert
- August 23, 2016Tax and Estates Alert
- May 16, 2016Tax and Finance Alert
- March 22, 2016Tax and Finance Alert
- February 16, 2016Tax and Estates Alert
- 2016LexisNexis
- August 17, 2015Tax Alert
- July 7, 2015Tax and Estates Alert
- July 2, 2015Tax and Estates Alert
- June 3, 2015Tax and M&A Alert
- May 7, 2015Philadelphia Estate Planning Council
- February 2, 2015Tax and Estates Alert
- September 11, 2014Philadelphia Estate Planning Council
- September 10, 2014Tax Alert
- May 21, 2014Tax and Estates Alert
- May 1, 2014Tax Alert
- April 4, 2014Tax Alert
- April 1, 2014Tax Alert
- December 12, 2013Tax Alert
- November 6, 2013Tax Alert
- August 21, 2013Financial Restructuring and Bankruptcy Alert
- January 24, 2013Tax and Estates Alert
- January 24, 2013Tax and Estates Alert
- January 24, 2013Tax and Estates Alert
- January 2, 2013Tax Alert
- December 11, 2012Tax and Estates Alert
- November 7, 2012Tax and Estates Alert
- July 2, 2012
- February 27, 2012
- January 16, 2012Tax Alert
Cases & Deals
- October 8, 2019
- July 24, 2019
- April 2, 2019
- December 13, 2018
- August 7, 2018
- November 3, 2016
- July 25, 2016
- February 24, 2016
- January 5, 2016
- December 1, 2014
- July 28, 2014
- November 8, 2013
- August 31, 2011
Practice Contacts
- John Eagan
Partner
212.868.4835 | Email | vCard - Warren Kauffman
Counsel
215.864.7092 | Email | vCard