Contact the McGlinchey Tax team for our latest insights about the following issues and other concerns:

Deciphering the 2017 tax law overhaul. We recognize that clients are still trying to understand the many provisions of the Tax Cuts and Jobs Act of 2017. It carries a wide range of repercussions – opportunities but also risks – for businesses and individuals on everything from the foreign operations of U.S. corporations, to decisions about incorporation and planning, to trusts and estate considerations. Our attorneys have seen many changes in the tax code over the years and helped clients adjust accordingly to advance their interests. Today, we’re poised and well situated to assist clients with the ramifications of the complex 2017 legislation.

Winds of change on state and federal levels. Clients must constantly reevaluate their business and investment strategies to the political vicissitudes from one election cycle to the next, particularly with a major change in political leadership. For example, many people are concerned that the fluidity of one administration to the other may affect the capital gains rate. While we can’t precisely predict whether and how much the rate might change, we can position and prepare clients for any rate hike or drop.

Criminal Tax Prosecutions. Recently, the IRS and Department of Justice have signaled an increased focus on criminal tax prosecutions. Tax violations in the past that may have resulted in civil penalties may now result in prison time. Now more than ever, taxpayers must ask whether they potentially could go to prison if they take a particular tax position.

Bringing both halves together. Clients value our lawyers’ ability to integrate two wide and deep bases of knowledge:

1. Because we’re embedded into the fabric of our clients’ businesses, we fully understand the legal and business challenges they face and the opportunities that present themselves within the industries in which they operate. That is, we know their day-to-day operations and track and project market trends within their respective economic sectors.
2. We understand very well how the Internal Revenue Service, the Treasury Department, the Department of Justice, and other regulatory bodies function. After all, not only have we helped clients work with the government, several of our lawyers have worked inside the government.

Our ability to synthesize these two knowledge sets helps enable us to craft effective and efficient strategies and solutions for our clients.

Articulating effectively and often while looking to the future. We recognize the value of clear and concise communication, and we work hard to keep our clients constantly apprised of any business and legal developments that affect them. We’ve built a reputation for our ability to plan ahead for projects and plan around obstacles. Because of our extensive in-the-trenches experience, we see the potential pitfalls before they manifest and steer our clients around them.

Experience = efficiency. The institutional knowledge we bring to our practice means we often know instantly – almost instinctively – when a client can’t make a particular move and stay within the law. That allows us to rule things out and not waste time and money, freeing up resources to see what we actually can do.

Agility matters. Tax lawyers are notorious for killing every new idea. We try not to do that. Without being too aggressive, we work closely with clients to get them to that business-decision threshold. Our firm is more agile than large firms that have layers of bureaucracy. Simply put, we can get things done.