Distress Tax Planning & Setup

 

For companies and individuals facing financial distress, appropriate tax planning can make a significant difference in the way you file your income taxes and retain the maximum amount money. Arlyce Richardson, Ltd. is experienced in presenting options to individuals and businesses in financial distress as they set a course to get back on their financial feet.

 

Companies

Changes to tax laws included in the Recovery and Reinvestment Act of 2009 provide new planning options to businesses in financial distress. With effective analysis and planning, companies can maximize available tax benefits and mitigate tax costs associated with issues such as net operating losses, cancellation or modification of indebtedness, and the disposition of troubled subsidiaries.

 

Depending on the entity structure and the scope if the problem Arlyce Richardson, Ltd. can help you evaluate the options laid out in the most recent tax laws.  

 

Here are some questions to consider:

-How can my company preserve net operating losses (NOL) and other favorable tax attributes during a restructuring or bankruptcy?

-What are the tax consequences of any debt modifications we are considering?

-What are the tax ramifications of an insolvent subsidiary?

-How can I take best advantage of recent changes to tax law?

 

Individuals

 In today’s tough financial times many individuals are faced with tax obligations that can be overwhelming. Arlyce Richardson, Ltd. understands that personal bankruptcy, unpaid tax liabilities, and personal debt is a real issue and understanding your options and putting together a plan to address these issues, can not only save you money in the long run, but also get you out from under financial distress sooner.

 

Contact us today for a free consultation to discuss your options.