Category: Tax Planning

  By: Tamara Pow Before you make a contribution to an LLC in exchange for a membership interest, beware that some member contributions to LLCs are taxable. For a limited liabilty company (“LLC”) taxed as a partnership, the general rule is that members do...

  By: Tamara Pow In addition to income tax considerations on forming a limited liability company (“LLC”) in California and making contributions to the LLC, potential LLC members should keep in mind that income they receive from their LLC may be subject to self-employment...

By: Tamara Pow Since I started my career as a tax attorney at Price Waterhouse, and have been managing partner at two San Jose law firm limited liability partnerships (LLPs) since then, I am used to being in control of the tax reporting for...

By: Tamara Pow On November 2, 2015 the Bipartisan Budget Act of 2015 (the “Act”) was enacted, completely transforming partnership audit procedures going forward. The intent was to streamline audit procedures and increase partnership tax compliance. The effect is going to be a lot...

A corporate attorney should work closely with a client’s other business advisors, including financial advisors and accountants. This team approach for a business attorney is critical in structuring business transactions and also choosing the appropriate entity structure that will help achieve the best tax...