Tax and Entity Planning
A complete understanding of tax and entity issues is essential to an effective estate planning practice, both international and domestic. The attorneys at GSBT understand the intricacies and nuances of state and federal income tax, estate and gift tax, state franchise tax, and the various charitable tax regimes, and work with clients to define their goals, and to design and implement creative strategies to achieve those goals, while at the same time working toward the optimum tax results. The attorneys at GSBT strive to use their understanding of tax issues to meet each client's individual needs within the context of all relevant taxing statutes. GSBT attorneys specialize in each facet of tax law, allowing the firm to address the tax implications that arise from each individual or business transaction.

The attorneys at GSBT are also experienced in both the federal and international tax aspects of using alternative structures for the ownership of business and investment property, as well as in the formation and taxation of pass-through entities, such as trusts and family limited partnerships. When helping a client choose the proper entity through which to conduct their business or hold investments, we tailor the entity to the client by considering such factors as (1) the client's personal preferences, (2) the level of control the client wishes to maintain over the business operation, (3) the degree of liability protection needed by the client, (4) the desired federal income tax treatment (e.g., separate corporate taxation, flow-through tax treatment, or disregarded entity treatment), (5) the preferred entity form based on the type of business or investment operations, and (6) the appropriate state law jurisdiction (e.g., Texas or Delaware). By taking into account each of these factors, GSBT can structure the entity form—whether it is a corporation, a limited partnership, an LLC, or an LLP—to fit each client's individual situation. After helping the client implement a business entity, we continue to educate and assist the client in the proper administration of the entity, and to facilitate business succession planning to ensure the longevity of the business.

A significant aspect of GSBT's tax practice involves the representation of clients with tax controversies pending before the Internal Revenue Service and state tax agencies. GSBT frequently deals with IRS examining agents and appeals officers in audits and administrative hearings. The firm's attorneys are intimately familiar with tax filing requirements, and are experienced in the preparation, examination, and appeal of various federal and state tax and information returns.