“Good fortune is what happens when opportunity meets planning.”

— Thomas Edison

Tax Audits and Appeals

The first step in handling a tax audit is to reduce the risk through proper recording and reporting of income.  It takes an extensive understanding of today’s complex tax laws to know how to reduce situations that trigger a tax audit.  Nevertheless, even the best tax planning cannot totally avoid the possibility of being audited.

Tax planning for business entities and individuals has always been an essential focus of Schwartz Manes Rub.  Our attorneys are proficient in handling tax audits and appeals, and they focus on your individual situation to ensure you get the best possible results at a reasonable cost.

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1031 Exchanges (Real Estate and Business)

A 1031 Exchange, also known as a like kind exchange, involves selling a qualified property, and then acquiring another qualified property within a specific time frame.  Unlike a standard purchase and sale of property, which is taxable, a 1031 exchange transaction qualifies the taxpayer for deferred gain treatment.

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Real Estate Tax Planning and Appeals

Proper federal and regional tax planning is the key to ensuring that all future real estate transactions will be taxed most beneficially to your situation.  By helping you before you begin any real estate transactions, the tax specialists at Schwartz Manes Ruby provide a full range of real estate tax planning services from purchase through sale.  As a result, we help you get the tax advantages you deserve at the most reasonable cost.

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Individual, Corporate, and Partnership Tax Planning

Tax planning for business entities and individuals has been an essential focus of Schwartz Manes Ruby since its inception.  We can handle virtually any issue to make sure you plan properly for the following issues for you or your business:

Individual Tax Planning:

  • Planning for capital gains
  • Planning for family business taxes
  • Setting up IRAs and Roth IRAs

Corporate Tax Planning:

  • Increasing your company’s cash flow
  • Reducing income tax liabilities through proper categorization of assets and income
  • Selecting the most tax-advantageous accounting methods
  • Planning deferred compensation plans

Partnership and Limited Liability Company (LLC) Tax Planning:

  • Minimizing income taxes with partnerships and LLCs
  • Retiring from a partnership
  • Dissolving a partnership 

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Gift and Estate Tax Planning:

  • Knowing the goals of estate planning as compared with tax planning
  • Computing the effects of the options for transferring wealth
  • Handling gifts split among multiple recipients

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Call our office at (513) 579-1414 or contact us online today to help with any tax planning issue.