Skilled And Experienced New York City Business Tax Law Services
Successful businesses must be proactive when it comes to tax law preparation and planning. Taking the proper steps in advance can reduce the odds of litigation and other complications, along with reducing tax liabilities, mitigating financial risk and creating the right atmosphere for long-term growth.
At my New York Manhattan law firm, M. Bradford Randolph, Esq., PLLC, I have been providing a wide variety of tax-related legal services for more than 25 years. My experience helps me understand the complexities of tax law, focusing on my clients’ long-term success. If necessary, I can also provide a seasoned and aggressive defense.
I am both an attorney and a certified public accountant.
A Track Record On A Variety Of Tax Law Matters
When you work with me, you know that you are going to get a lawyer who is experienced, dedicated and knowledgeable in this complex area of the law. I have a broad tax practice, including the following matters:
- United States and international tax matters
- Tax compliance: Tax return preparation, federal and state
- Tax planning: Both in the U.S. and abroad
- Federal and state audit representation
- International tax issues, including foreign tax credits and transfer pricing
- Tax advice for individuals and businesses
- Litigation, both federal and state, on a variety of tax matters
- State and local tax issues
Why Should You Consider Outside Counsel?
Retaining outside cancel can provide tremendous additional benefit to a business which has its own in-house council. As a seasoned professional with years of experience dealing with the IRS on domestic and international matters, Brad is able to manage an audit, interface with the IRS, and spearhead an in-house team with efficiency and precision. The IRS has a whole team of people working on your case, and you should too.
As both an attorney and a CPA, Brad is a 2-in-1 professional. Combining the expertise of both fields increases the likelihood of a favorable judgement, and saves time.
A Tax Law Attorney Staying Up To Date On Changes That Impact Businesses
Tax law and practice change regularly, and I work hard to stay up to date on changes that could impact my clients. As one example, the IRS recently revised a policy that makes it easier for the agency to investigate suspected tax avoidance among large international corporations.
The IRS Large Business and International (LB&I) Division is responsible for monitoring and regulating the tax activities of these corporations. According to a 2024 report by the Treasury Inspector General for Tax Administration, however, the LB&I Division has had a very difficult time enforcing what’s known as the “economic substance doctrine.” Under Internal Revenue Code §7701(o), business transactions without a business purpose or which lack economic substance should not be eligible for tax benefits.
Historically, the LB&I division has had a difficult time enforcing this doctrine due to the need to complete large amounts of documentation and secure managerial approval. Following the release of the report, the policy was changed to remove the need for managerial/executive approval.
Although this change won’t impact many business owners here in New York, it serves as an example that tax law and practices can change at any time. The attorney you hire needs to be committed to staying informed about these changes and how they apply to your business.
What Tax Benefits Are Available For Business Innovation?
One significant incentive is the tax benefits awarded to companies that engage in developing or inventing new products or technologies. The federal government offers these benefits to innovative companies to reinvest in further development. For instance, the §1202 Qualified Small Business Stock, a statute that allows entrepreneurs to exclude all capital gains from the sale of a qualified small business stock held for a minimum of five years – the exclusion of which is $10 million.
However, understanding and applying these tax codes correctly is not straightforward. This is where the guidance of a skilled attorney becomes invaluable. I am adept at interpreting complex tax laws and applying them to your business’s unique circumstances. I will ensure that you not only comply with the law but also secure all the tax benefits for which you qualify.
When you work with my firm, you will have a partner who is committed to your business’s success. I help you navigate the intricacies of the tax system with confidence so you can focus on what you do best – innovating and growing your business.
Call Now For Experienced Tax Representation
If you are looking for an experienced tax attorney who is proactive about finding solutions to your tax issues, call my firm, M. Bradford Randolph, Esq., PLLC, at 347-315-1648 or use my online form today to get started.