Sassoon & Cymrot’s tax lawyers regularly advise clients regarding the tax consequences of transactions and help structure business deals to minimize the tax effects, with emphasis on business formation, financing, reorganizations, mergers and acquisitions. As a component of the tax planning process, we deal with state, federal and international tax issues affecting individuals, partnerships, corporations, limited liability companies and other forms of business organizations. Additionally, we deal with tax controversies at all stages of the administrative process, and, if necessary, in the courts and before the Massachusetts Appellate Tax Board. Our tax lawyers also negotiate workouts with the tax authorities, and, if warranted, process offers in compromise of tax liabilities on behalf of our clients.
Sassoon & Cymrot’s tax and estate planning lawyers provide estate planning services for individuals and families. [See our Private Clients practice]
Sassoon & Cymrot’s tax and estate planning lawyers bring a personal touch to this important process. We help our clients devise an estate plan sensitive to both tax issues and their individual concerns and needs. The services we provide include estate planning, tax advice and planning for key corporate executives and owners of closely-held businesses, including guidance on business succession issues; establishing and administering gifting programs; advising individuals on charitable gifting; and serving as counsel in trust, estate and tax litigation. Our attorneys prepare wills, revocable trusts, irrevocable trusts, powers of attorney, health care proxies and other estate planning and legal documents as appropriate.
Our services include designing complex estate plans for clients to manage tax liability through use of generation-skipping trusts; representing estates involving issues such as art collections, real estate holdings and family-run businesses; providing personal estate plans including compensation packages for key executives; and through the use of entities to take advantage of valuation discounts
Our attorneys assist clients who want to transfer ownership and control of family businesses, family homes, or other property to younger generations. We create entities that permit clients to make lifetime transfers of significant assets at a discount. We also counsel individuals regarding charitable donor programs and private foundations, administration of sizable gifts and bequests, and tax advice with regard to qualified plans, IRAs, deferred compensation and other retirement benefits.
Sassoon & Cymrot represents educational institutions, colleges, universities, religious and charitable organizations, foundations and non-profit entities in connection with formation of non-profit and charitable organizations under Section 501(c) of the Internal Revenue Code. [See our Industries practice]
Sassoon & Cymrot represents many educational institutions, colleges, universities, religious and charitable organizations, foundations and non-profit entities in their formation of non-profit corporations, including tax exempt entities and obtaining exempt status; drafting employment contracts with faculty; administrators and key executives; acquisition, development, construction and financing of facilities; and regulatory compliance with local, state and federal law. Sassoon & Cymrot understands the unique financial and legal needs of the not-for-profit and charitable sector.
Charitable organizations and religious institutions are often confronted with unique legal issues. Sassoon & Cymrot attorneys can advise clients on tax exemption issues and choice of entity, parsonage allowances and other tax benefits for clergy; financing, land use, zoning and permitting issues; leasing, purchase, sale, development and financing of property.
Sassoon & Cymrot handles the administration of estates and trusts, including the preparation and filing of documents with probate court and federal and state estate and income tax returns. [See our Private Clients practice]
Sassoon & Cymrot handles the administration of estates and trusts, including preparation and filing of documents with probate court, and filing of federal and state estate and income tax returns. Our attorneys also litigate in the probate courts on such matters as will contests and the establishment of guardianship or conservatorship. Our attorneys advise personal representative, trustees, and administrators to assist them in fulfilling their obligations.
Sassoon & Cymrot attorneys resolve complex tax controversies before the Internal Revenue Service and other state and local taxation authorities. [See our Insolvency practice]
Sassoon & Cymrot helps our clients resolve controversies regarding federal, state and local taxation, and negotiate settlements with tax authorities. Our attorneys resolve complex tax controversies before the Internal Revenue Service, and handle audits, administrative appeals, offers-in-compromise, installment agreements and all aspects of civil tax cases in federal and state courts. We represent taxpayers on state and local tax controversies at the audit, administrative, state and federal court levels in disputes involving state income, franchise, sales, excise and other taxes, as well as local property taxes. We also provide tax planning services to address declining asset values, including the sale of assets with debt in excess of basis, and the restructuring of estate planning strategies.
Tax Deferred Exchange of Like-Kind Assets
Sassoon & Cymrot advises clients on how to structure the sale and purchase of real estate and other assets as a “like-kind” exchange in order to defer capital gains tax pursuant to Section 1031 of the Internal Revenue Code. [See our Real Estate practice]
Tax Planning for Divorce
Sassoon & Cymrot advises clients on how to structure divorce settlements to minimize tax liability. [See Family Law/Matrimonial practice]
The resolution of tax, estate, pension, and other financial issues is an essential component of most domestic relations disputes. Sassoon & Cymrot advises clients on how to structure alimony, child support payments, and division of property (including closely-held businesses) to minimize tax liability. Our tax attorneys also advise on estate and gift tax planning in the context of divorce.