t Lorenzana Law Firm, P.C., we offer our clients dependable and sophisticated counsel on a wide range of federal tax issues for both businesses and individual taxpayers. For a specific understanding of our client service on federal taxation and the most effective ways of avoiding and resolving problems with the IRS, contact us in Austin.
As a full-service legal resource for individuals, and small or medium-sized companies, we are careful to identify and advise you on the tax implications of every aspect of your small business or individual tax issue, from initial formation to eventual sale or merger. We can point out the advantages of lease over purchase transactions, spot hidden deductions or exemptions that you might qualify for, and advise you about protecting profits from tax liability, especially in years when your business was especially successful. Similarly, we advise individuals and families about the federal income tax considerations that apply to capital gains or losses, gifts, alimony or child support, business expenses, estate planning, business use of the home, legitimate itemized deductions, Schedule C deductions, depreciation, Section 179 deductions, and other factors that can be anticipated and planned for.
Our federal income tax clients also include nonprofit organizations, trusts, and investors in partnerships or LLCs who need advice about the tax implications of liquidated or transferred interests.
We also represent business and individual taxpayers in disputes with the IRS concerning audits, adjustments to income, challenges to deductions, payroll taxes, and amended returns. Our attorneys can also help resolve problems with regard to tax liens. While we can protect and advance your interests in U.S. Tax Court, we are usually able to work out federal income tax problems on favorable terms at the local IRS Field Office, often through an offer in compromise.
Austin taxation attorney Elias V. Lorenzana, Jr., is a Certified Public Accountant (inactive) and a member of the Tax Section of the State Bar of Texas. He also served as Assistant General Counsel in the Tax Hearings Division of the Office of the Texas Comptroller of Public Accounts, where he handled various state, local, business or franchise tax, sales, local and use tax (SALT) issues in a wide array of industries as retail, manufacturing, energy, entertainment, NFL, NBA, garment, music, production and other general business. Together with his knowledge of the Internal Revenue Code, his extensive practical experience with the resolution of individual and business tax issues at the state level is a valuable resource for the firm's clients who need to consider federal tax consequences in their broader business planning.
To learn more about our ability to meet your federal income tax planning needs, contact a lawyer at Lorenzana Law Firm, P.C. in Austin.