State and local tax planning has evolved throughout the years because of increased scrutiny of tax structures by both government auditors and financial regulators. Even in this environment, tax planning can still provide substantial savings opportunities for businesses. We take a prudent and comprehensive approach to advising our clients about tax planning strategies. ZHF’s approach is to focus on understanding our clients’ business operations and implement strategies that are consistent with and support those business operations. Our tax strategies are also consistent with the tax laws applicable to each strategy. As a law firm, we have the ability to perform tax planning on a comprehensive basis, from the initial stages of evaluating options through to full implementation, including the drafting of all related legal documents.
We also assist clients who have previously implemented tax planning strategies by analyzing whether the prior planning still accomplishes the intended savings or can withstand government scrutiny. We work with the client to provide recommendations of changes to ensure the integrity of the planning. We are often able to enhance the planning to achieve additional savings or ensure the savings will continue to be generated after an audit.
We also work with clients to analyze and determine the consequences of business transactions. Our analysis focuses on structuring the transactions in a manner that minimizes the amount of state and local taxes that will result from the transaction.