Tax, Small Business and Succession Planning

I have a Masters in Taxation and have represented many businesses on formation issues, litigation issues, successor planning issues and tax issues. You can find a more complete list of my experience in these areas in my Curricula Vitae under the “About” section of this website.

I bring that experience to my elder law practice to help families when they deal with disability, estate planning and retirement matters. When small business owners are burdened with disability issues or they pass away, somebody has to step into their shoes and maintain the viability of the business, sell it, negotiate with other owners of the business or sometimes just let the business go. All of these options have tax consequences that should be considered. I can help you there since I have filed 1040, 1041, 706 709 and 1120s returns in the past. I prefer to work with your accountant though on these matters because two heads are better than one to see all the options that are available to you to avoid estate depletion.

People who are small business owners should have a succession plan in place to deal with disability or passing away. This is true even if the plan is nothing other than letting the business stop operating and a request to others to just collect the receivables, pay off the debts, file the last tax return and advise the state of Washington that the business is no longer operating. They should have some idea of who is going to manage the business in case of their disability or death. The failure to consider these things and have a plan in place can result in estate depletion and significant stress for those who rely on you or whom you desire to step in for you to manage your affairs when you cannot. It can place significant stress on the lives of your business partners and their families. These problems can be minimized or even avoided with good estate planning in place.

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7016 35th Ave NE, Seattle WA 98115-5917
(206) 583-2740 Phone