Business and Cross-Border Transactions
Our office understands the needs of small to mid-size businesses and emerging companies. Our office provides counsel in most aspects of corporate and business law, business transactions, corporate governance, and international law. Klug Law Office PLLC provides advice and representation with cross-border transactions and has extensive experience with related international tax considerations and planning.
Estate Planning and Trust Administration
Klug Law Office PLLC provides comprehensive estate planning for individuals, couples, and family businesses. Tax planning is a critical element of estate planning, our firm incorporates effective, practical tax savings strategies in all of our estate plans and trusts. Klug Law Office PLLC has extensive experience in advising citizens with dual or multiple nationalities, especially those living outside the US, and their families with their unique estate planning challenges. Our office also advises on the unique tax considerations and opportunities for individuals and families immigrating to the US. Our office handles trust administrations and represents corporate trustees.
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Klug Law Office PLLC has answered these common inquiries raised by individual and business client everywhere.
Are there important tax considerations of a US company looking to expand outside the US?
Yes. As more companies look to expand outside the US, international tax law has become increasingly more important. The selected entity form in the foreign jurisdictions has important tax implications in the US which should be examined prior to formation of the foreign entity. The ability to use foreign tax credits to offset US taxation of the foreign operations will be an important consideration. There are also informational forms that need to be reported in the US to report the activities of the foreign company. It is important to plan for repatriation of the profits to the US prior to forming the foreign company. Our firm works closely with US based and foreign advisers to ensure a comprehensive legal and tax plan.
Are there important tax considerations of a non-US company looking to expand into the US?
Yes. There are many avenues which a non-US company can enter the US market, each with their own benefits. It is important to understand the extent of the operations in the US and the type of business that will be operated in determining how a non-US company should enter the US market. It will also be important to determine how profits will be repatriated back to the home country at the beginning. Our firm works closely with US based and foreign advisers to ensure a comprehensive legal and tax plan.
Are there tax implications in selecting the type of entity to operate a business?
Yes. The type of entity used to operate a business has very important tax implications. It will be important to analyze whether losses are expected at the start, whether double taxation will be a significant issue, whether self-employment tax will be a burden to the owners, as well as many other important considerations. Selecting the type of entity to operate your business will have important tax consequences that will affect the bottom line of your business.
Are you struggling with how to respond to an IRS audit?
It is important to have an experienced tax attorney to guide you through an IRS audit. During the initial examination period of the IRS audit, our firm works closely with you and will interact with the IRS on your behalf. Your IRS record will be closely reviewed and a case strategy will be developed. If the case cannot be concluded at the audit level, our firm will proceed with administrative programs and procedures that best facilitate a resolution of the case. If the case cannot reach a proper resolution at the administrative level and it is in your best interest, our firm is ready to litigate the tax controversy in court.
What is a Power of Attorney?
A Power of Attorney is a legal document that appoints another individual, known as your “agent”, to handle your financial matters.
What is an Advance Medical Directive or Health Care Power of Attorney?
An Advance Medical Directive/Health Care Power of Attorney is a legal document that appoints another to make health care decisions when you are unable to make them yourself. This document also allows you to provide your wishes regarding end of life care.
What is probate?
Probate is the court-supervised administration and distribution of the assets of a deceased person. You can appoint an Executor in your Will who will distribute the assets as you have directed in your Will. The Executor of the estate will take legal title to the assets of the estate, pay legal debts of the decedent, wind up the affairs of the decedent, and distribute the assets in accordance with the Will.
How should funeral expenses and valid debts of the decedent be paid?
The Personal Representative/Executor should pay these expenses from the decedent’s assets before making distributions under the Will.
What is business law?
Business law encompasses the rules, statutes, codes, and regulations that are established to govern commercial relationships and provide a legal framework within which businesses may operate and managed. Business law is diverse and includes business formation and organization, transactional business law (contracts), business planning, business negotiations, mergers and acquisitions, and divestitures.
What factors should be considered in determining the type of entity to form to operate your business?
There are many factors to consider, but the common considerations include tax treatment, capitalization of the business, structure of management, and owner’s personal liability for business operations.