Business & Tax Planning
The attorneys at Spesia & Ayers understand that taxes impose a substantial burden on every client and every transaction. Complicated tax issues arise in almost every commercial transaction as well as many personal situations. Tax laws constantly change and while such changes cause complexity and challenges, these same changes also create opportunities. Skilled use of entities, formats and creative structures can provide flexibility to business owners and their families; minimize taxes at the local, state, and federal levels; provide an effective method to manage wealth accumulation; and protect their business and assets from ever-present risks of loss, taxation and dispute.
Bradley S. McCann has practiced law with an emphasis on business and income tax planning for individuals, entities, estates and trusts for over 17 years. Bradley McCann brings years of accounting and law experience to Spesia & Ayers. Bradley McCann is also a Certified Public Accountant and has extensive knowledge and experience in all aspects of business planning and personal and business taxation. Bradley McCann represents many high-net-worth individuals, families, professionals, and business owners. This representation often includes the preparation of tax returns for individuals, businesses, trusts and estates.
In business and family succession planning, Spesia & Ayers has extensive experience in implementing complex structures in all aspects of a business, from the formation of an entity to its dissolution, such as:
- Limited Liability Companies
- Not-For-Profit Entities
- Limited Partnerships
- General Partnerships
Bradley S. McCann has guided individuals through the formation and financing of hundreds of new legal entities of all types and has established and advised a variety of not-for-profit entities. Bradley McCann determines the proper form by reviewing and analyzing specific tax affects attributable to such business and evaluating them with reference to the goals of the business owner.
In addition, Spesia & Ayers offers a range of services to its business clients, combining the knowledge of business attorneys with specialized knowledge of attorneys in other practice areas. These services include:
- Mergers, Acquisitions, and Dispositions of Businesses
- Commercial Law Issues
- Contract Drafting, Negotiation and Review
- Lease Drafting, Negotiation and Review
- Employment and Management Issues
- Employment Agreements
- Confidentiality, Non-Solicitation and Non-Compete Agreements
- Acquisition and sale of Real Estate
Bradley S. McCann has negotiated and facilitated a broad range of asset and stock acquisitions, reorganizations and divestitures of various business entities. He has also negotiated and documented almost every kind of agreement, including employment, license, confidentiality and non-compete agreements for all professions, including physicians.
Bradley S. McCann has extensive experience in implementing complex tax-planning strategies in all aspects of taxation including:
- Estate Tax
- Gift Tax
- Generation-Skipping Tax
- Income Tax – Individual, Corporate, Partnership, Fiduciary, Tax Exempt
- State and Local Tax
- IRS and IDOR Audits
- Tax Return Preparation
Bradley S. McCann also has extensive experience representing clients before the Internal Revenue Service and Illinois Department of Revenue, whether for protest, hearing or audit.
Bradley S. McCann has structured and implemented hundreds of estate and gift tax planning strategies. One such strategy utilized a private family foundation and an irrevocable insurance trust that will save the family approximately $12.5 million in estate taxes. In multiple plans, he has used the structure of a limited liability company or a limited partnership to gift significant portions of the parents’ estates to their children at substantially discounted values and without giving up control of the assets. The implementation of this structure resulted in significant reductions in both state and federal estate taxes. Bradley McCann has also represented clients before various governmental taxing agencies. One such representation provided a negotiated settlement that saved the client approximately $850,000 in state taxes.