Tax Law

Tax Planning & Preparation

Effective Tax Planning & Avoidance Strategies – Chicago Area Tax Lawyer

While it may be true that taxes are a certainty, this does not mean that effective tax planning and legitimate tax avoidance strategies cannot minimize your tax liability. When clients seek out Chicago Area Tax Attorney Richard J. Arendt, they anticipate sophisticated and effective tax planning, counseling, and litigation services when confronting issues involving the IRS, state, and local tax entities. Because the tax policies and regulations that impact businesses and individual are constantly in flux, Mr. Arendt remains abreast of changes in tax regulations and significant tax court decisions. Our law firm provides estate planning and administration services to individuals and legal advice in business matters, so we are uniquely qualified to deal with a broad range of tax issues in both a personal and business context.

Complex Personal & Business Tax Returns Based on Tax Saving Strategies

Clients trust Mr. Arendt because he has 38 years of legal experience, which includes working with an extensive array of business entities and individuals handling complex tax issues. The diversity of the engagements in which we advise clients on international, federal, state, and local taxation include the following:

  • Representing clients in tax examinations (audits) through administrative proceedings with the Internal Revenue Services as well as state and local taxing authorities
  • Providing legal counsel regarding income, employment, state, and local tax reporting
  • Organizing ownership structures to achieve our clients business objectives while minimizing tax liabilities
  • Strategic planning to legitimately reduce federal and state tax liabilities
  • Taxation of passive business interests and rental properties
  • Use of estate planning to mitigate state and federal tax liabilities
  • Tax consequences involving the disposition of business assets and transfer or sale of business interests
  • Forming and Advising various tax-exempt organizations
  • Preparation of individual tax returns with complex issues, such as diverse stock option transactions or high net worth
  • Providing legal counsel and tax planning regarding the gift tax exemption and estate taxes
  • S Corporation, partnership, limited Liability company, and other business returns

Mr. Arendt provides sophisticated tax planning services for a broad spectrum of individuals, businesses, and tax-exempt entities, including international entities subject to potential tax liability in multiple countries. Our legal counsel is designed to help clients develop tax efficient strategies that include limited liability companies, ownership interest redemption, partnerships, and asset distributions. Our law firm utilizes tax planning and preparation strategies that reduce the risk of controversies that include audits, tax-based litigation, and administrative appeals.

Experienced Illinois Tax Attorney Can Provide Many Advantages

If you have complex tax preparation or planning issues, there are definite advantages to working with a well-regarded tax attorney rather than just a CPA. Illinois Tax Attorney Richard J. Arendt relies on in-depth and up-to-date knowledge of tax codes and tax court decisions, which facilitate aggressive positions that a CPA might not be comfortable defending.

Effective tax planning can both protect your assets and circumvent a tax controversy that might threaten the financial stability of your family and business. We protect our clients’ best interest through sound and thorough tax planning. For example, tax planning strategies can involve taking advantage of tax-free education saving plans to facilitate a taxpayer’s child’s education. Alternatively, our clients often make substantial gifts to charitable organizations. The purchase of life insurance also can be constructed to allow it to be inherited by family members on a tax-free basis.

We offer a no obligation free 30-minute consultation so that we can evaluate your situation and determine specific tax planning strategies to fit your needs.