Tax Planning And Tax Reduction For Closely Held Businesses

Taxes are not just something you need to understand and comply with. When approached strategically, they can be minimized in your business's best interest. An experienced tax lawyer can help use tax planning to better position your business and help you take advantage of the opportunities that save you money in the long run.

Our firm, Vancrum Law Firm, LLC, in Overland Park, helps business owners, land owners and individuals organize business entities and revenue streams to employ favorable federal and state tax strategies. For example:

  • Proper entity choice: Different business entities (partnerships, LLCs, S corps, etc.) may have different tax obligations. We can help ensure you choose the right entity when starting up a new business venture.
  • Asset protection: Classifying assets in a certain manner can help save you from tax obligations that dip into their true value. By structuring income and assets properly, we can help you preserve assets so you can realize their maximum value.
  • Consulting on changes in tax regulations: Taxes are ever-changing and can influence your business on a dime. Our firm can help you understand new developments, maximize the benefits of certain changes and minimize the disadvantages of others.

Do not confuse tax planning with tax evasion. Tax planning occurs when a business uses tax law in its favor. Tax evasion involves fraudulent activity like misrepresenting income and assets to avoid paying taxes.

Learn How Tax Planning Can Work For You

When you contact our office, attorney Robert Vancrum will personally walk you through the process of tax planning and tax reduction as it relates to business law and your personal financial portfolio. With more than 35 years of experience in law and an advanced degree in Taxation, he can bring a wealth of knowledge and business acumen to your case.

Call us at 913-948-9400 or send an email to arrange a no-obligation consultation. From our office in Overland Park, we represent clients throughout the Kansas City metro area (including clients in Kansas and Missouri).