Meyer, Unkovic & Scott recognizes that closely-held and family-owned businesses have always provided the greater Pittsburgh area with much needed stability and growth. The attorneys in our Corporate & Business Law Group are firmly committed to helping closely-held and family-owned businesses make the leap from this generation to the next. Thoughtful tax and business succession planning are key aspects to ensure that closely-held businesses continue to grow and prosper.
Tax law is constantly changing as Congress and the Pennsylvania legislature periodically amend the tax codes. As these changes have occurred, the emphasis of tax planning has evolved from tax shelters and related income tax-driven transactions to planning strategies to reduce federal employment and state income taxes while still considering federal income tax consequences. Much of these efforts focus on the choice of business entity. Consequently, our attorneys consider all potential federal and state tax implications when counseling clients on the best planning strategies for their business and personal needs.
Additionally, our attorneys focus on succession planning, which involves mechanisms available to enable owners to pass their businesses to succeeding generations, giving due consideration to control issues and the impact of gift, inheritance and estate taxes. Coordination of buy-sell agreements with an owner’s estate planning documents is an integral part of most family succession planning.