Tax Defense in Any Situation
The federal tax code, and to some extent the state tax code, are incredibly complicated documents that can prove overwhelming to the average person. Forget that! Even highly-intelligent people who specialize in preparing taxes have a tough time deciphering it. That’s why you can hand the same documents to two different enrolled agents with the IRS and get two completely different outcomes.
The federal tax code alone is currently at about 4 million words — more than five times the length of the Bible. Even the people who’ve had a hand in the writing have difficulty understanding it. But at Davis, Ermis & Roberts, P.C., it’s our job to understand it. And we take that job seriously.
Wondering how we can begin to help with your tax issues? Here’s a sneak peek at our coverage areas.
Corporate and Business Tax Law
Large corporations and small businesses have a fiduciary responsibility to their stakeholders to limit taxation and maximize profitability. It’s not a matter of trying to “cheat” the system or refusing to “pay your fair share.” You want your business to succeed, so that means boosting revenues and limiting expenses. Taxes just so happen to be a major expense.
Our tax counsel will provide an overview and assessment of tax liabilities under the various business entities allowable by law. We want you to have the knowledge to make the best decision for your business.
We also know the dynamic nature of tax law — see the Tax Jobs and Cuts Act of 2017 — can keep you in a state of guessing outcomes. That’s not a productive place to be when you’re trying to run a business. So, we’re happy to help you navigate tax law changes as they arise.
Mergers and Acquisitions
Acquiring a product or service from a local business is relatively straight-forward. Each product or service comes with a pre-set price or established guidelines for determining a quote. As the customer, you check it against your spending power and decide whether you have the money or if the deal is even worth it.
But when you get into the world of mergers and acquisitions, it’s an entirely different story. That’s because companies being absorbed or purchased as well as those doing the purchasing come with a lot more baggage. They may have debt, own properties, or hold tax liabilities of their own. They may be heavy on assets but light on cash or vice versa.
At Davis, Ermis & Roberts, P.C., we work with companies to untangle the knots and set each entity on a path to complete a financially beneficial transaction. We have to massive deals worth millions of dollars, and we have the experience and knowledge to guide you to a successful M&A.
Businesses dealing in large transactions may not have the cash-on-hand to make a purchase. Or, even if they do, why bother when you can get affordable financing without emptying out your liquid accounts? Over the years, we’ve been a steady hand for small and large companies in need of flexible terms and affordable payment structure.
Sometimes businesses have to hit the reset button on the way they do things. For whatever reason — maybe they’re in debt or their market share is starting to slip or they need to discharge a particularly costly part of their business — a top-down restructuring becomes necessary.
Our office has helped dozens of businesses reassess their situations and find the right paths forward to profitability. Those paths haven’t always favored. After all, each business’s challenges and capabilities are different. But we’re prepared to meet organizations where they are and set an optimistic course for the future.
IRS Audit and Tax Litigation
The Internal Revenue Service is the largest collection agency in the world, and unlike most, they won’t stop when you ignore their phone calls and letters. They pursue every dollar to the bitter end, and beyond that, they can throw a monkey wrench into your ability to work and focus on your business. Under extreme circumstances, they can even put you in jail.
Our emphasis always has been helping clients to escape the penalties and litigation commonly imposed by the IRS. When that’s not possible, we try to advocate on their behalf for reasonable settlements and minimum penalties. Each situation is different, but our resolve remains the same. That’s why we’ve been one of Dallas’s most reliable tax law attorneys since hanging a shingle over 35 years ago.
Stand Up to Your Tax Situation
Whatever your purpose, don’t allow yourself to be sidetracked or to procrastinate on a critical tax issue. Your business is our business priority, and we work hard to mitigate any challenges you might face. Contact us today if you have any questions or an immediate need for tax relief and assistance. We look forward to serving you.