Tax Planning and Tax Audits

With a Masters Degree in Tax Law obtained in 2001, North Star Law Group has the expertise to handle tax issues that clients face, whether it involves a simple question such as if a client’s sale of their house will be subject to income tax, or more complex situations involving the tax consequence of a sale of a person’s interest in a limited liability company. He has also worked with the Internal Revenue Service in resolving clients’ tax liabilities, either in an audit at the local or Tax Court level, or assisting in reducing a person’s tax liability through an offer in compromise. If you are faced with a tax issue, meet with us to help you resolve it in a manner more favorable to you.

Tax Questions and Planning

Nobody likes the thought of having to deal with the Internal Revenue Service, so why should you have to? As they say, “an ounce of prevention equals a pound of cure.” If you have a question regarding how a particular situation will be taxed, we may be able to assist you relatively quickly. But, in the event you are concerned about the future, our firm has worked with many clients, including individuals, families, and businesses, to plan ahead to either eliminate or minimize any taxes that may be due once a particular event or transaction occurs. Let us help you answer any questions or plan for the future to avoid any IRS-induced headaches.

Income Tax Planning

Most people come to our firm with questions about how to reduce their overall income tax liability either for themselves or for their businesses. We have extensive experience working with clients in organizing comprehensive plans that cover all aspects of their tax exposure from basic questions to complex issues including the new “net investment income tax” that was enacted as part of the Affordable Care Act. If you’re considering a plan to reduce your income taxes, please contact our office to schedule a meeting.

Estate and Gift Tax Planning

While the estate and gift tax is not as big of a concern as it used to be, it could be a huge consideration for those people and families that could be faced with a large estate tax bill. This is especially important for family businesses where the family may have to liquidate the business in order to pay any estate tax that may be due. North Star Law Group has implemented a wide variety of tax-advantaged strategies to either eliminate, reduce or defer any estate tax that would otherwise be due. If you’re worried about the estate tax, meet with us to come up with a plan to alleviate this concern.

International Tax Planning

What happens when you, your family or your business are impacted by two (or more) national tax laws? Our firm has assisted clients who are subject to both the U.S. tax laws and those of another country to reduce the overall effective tax impact. Should you find yourself trying to navigate the laws of more than one country, please consult with us to find a solution to your problem.

Tax Audits and Tax Resolutions

Unfortunately, either through a misunderstanding of the law, a situation going sideways, or just because the Internal Revenue Service believes that a person misreported their income, the IRS may decide to put a person or company on an audit. If you find yourself in this situation, we may be able to assist you in resolving the issue in your favor. Please contact us to see how we can help