Whether simple or complex, business or personal in nature, any transaction has the potential for significant tax consequences, and therefore tax planning is key to all of our legal services. We are Little Rock tax lawyers that offer sophisticated and innovative tax counseling on all levels of federal, state, and local taxation. The tax attorneys at McDaniel, Wolff & Benca have advanced degrees in taxation, and therefore we are able to provide you with the highest level of tax counseling that you need in a complex and ever-changing tax environment.
Regardless if you are a large multi-state corporation, a local family owned business, or sole proprietor, tax planning is a critical part of the growth and success of your business. Our attorneys routinely counsel clients on all issues of tax planning that arise during the business formation stage, all the way to the sale or wind-down of a business, and everything in between. During the formation stage, we recognize that it is critical to make the appropriate choice of business entity (such as a C-corporation, S-corporation, partnership, or limited liability company) in order to maximize the tax-efficiency of your business. During the life of your business, our attorneys are able to provide counsel on a wide variety of corporate law matters, all while giving consideration to any potential tax consequences. If you are selling your business or if your business simply needs to be wound-down and dissolved, we can assist you and structure such transactions in a manner designed to optimize your tax savings.
The tax attorneys at McDaniel, Wolff & Benca also frequently represent clients who are dealing with audits or tax collection activities by the IRS or state taxing authorities, such as the Arkansas Department of Finance & Administration. Our attorneys recognize that the IRS and other taxing agencies frequently overstep their legal authority when assessing or collecting taxes, and therefore we stand ready to aggressively protect your rights as a taxpayer. We are experienced with the internal practices and administrative procedures of the IRS, which enable us in many cases to reduce proposed tax assessments, abate or waive penalties, respond to demands for documents and other information, prepare offers in compromise, obtain installment payment plans, and pursue other administrative solutions to tax issues. If administrative channels are not effective, we have extensive experience litigating tax cases in the U.S. Tax Court and in the Federal District Courts in Arkansas.