Business Law

The McGough Law Firm represents clients in the following business law matters:

  • Formations of entities, including corporations, limited liability companies and partnerships
  • Business sales, merger and acquisitions, including asset sales and stock purchases
  • Customized solutions for professionals including professional corporations and professional associations
  • Nonprofit corporations, including applications for 501(c)(3) status with the Internal Revenue Service
  • Business succession planning
  • Shareholder agreements
  • Stock purchase agreements
  • Employment agreements
  • Non-compete and non-solicitation agreements
  • Business contracts and leases

Tax Law

The Internal Revenue Service is one of the worst creditors you can have. They can use a variety of enforcement actions against you, including:

  • Filing IRS tax lien
  • Applying a wage garnishment against your wages
  • Enforcing an IRS tax lien against your bank or brokerage account
  • Enforcing an IRS tax lien against your independent contractor income (1099 income)
  • Sieze state income tax refunds to satisfy your IRS tax debt
  • Sell your property, including your vehicles or your home

All of these actions take their toll on your financial and emotional well being. But you have rights, including the right to consult with an IRS tax attorney or tax lawyer to assist you with your tax problems. You also have a number of potential solutions to your tax law problems, including monthly payment plans known as installment agreements, negotiating a settlement with the IRS (an Offer in Compromise), determining whether you may be placed in uncollectible status, and reviewing your financial information to figure out whether you may obtain relief from your tax problem by filing bankruptcy. Contact us today for a no obligation tax law consultation regarding your IRS tax law problems.

The McGough Law Firm assists individuals and businesses with the following tax law problems:

  • Tax controversies
  • Tax audits and appeals with the Internal Revenue Service (IRS) and the South Carolina Department of Revenue (SCDOR)
  • Employment tax issues including appeals of the trust fund penalty
  • Innocent spouse relief
  • Assistance with tax collections relief, including installment agreements, offers in compromise and uncollectible status
  • Advice regarding bankruptcy options for tax debt

The McGough Law Firm also advises individuals and small businesses on a variety of tax law related planning transactions, including the following:

  • Federal and State income tax planning
  • Corporate and partnership tax law matters, including limited liability companies
  • Estate and gift tax law planning
  • Generation-skipping transfer tax law issues
  • Tax law issues involving trusts
  • Payroll tax planning

Estate Planning

Few things are more important than securing your family’s future. Estate planning, when done properly, is an important tool that can help you accomplish several goals. You may already be thinking of some of the following common estate planning objectives:

  • Providing someone to manage assets for your children
  • Appointing a guardians to care for your minor children
  • Avoiding costly delays involved in the probate process
  • Utilizing trusts to maintaining privacy in the settlement of an estate

There are also some estate planning issues you may not have considered:

  • Decrease or eliminate gift and estate taxes
  • Designating an agent to assist with transactions or make health care decisions if you are incapacitated
  • Using the estate plan to teach children and grandchildren financial responsibility
  • Protecting assets from creditors
  • Ensuring you have appropriate levels of life and/or disability insured
  • Confirming retirement assets and life insurance beneficiary designations adequately reflect your estate planning goals

The McGough Law Firm can assist you in providing security for your family with the following basic estate planning services:

  • Wills
  • Revocable Trust Agreements (aka Living Trust Agreements)
  • Durable Power of Attorney
  • Health Care Power of Attorney
  • Declaration of a Desire for a Natural Death / Living Will
  • Estate planning for children and future generations
  • Asset protection
  • Charitable trusts
  • Life insurance trusts
  • Business succession planning
  • Planning to minimize the impact of the estate and gift taxes
  • Estate planning for professionals

McGough Law Firm, P.A.
5000 Thurmond Mall, Suite 101 (29201)
P.O. Box 115
Columbia, South Carolina 29202
Phone: (803) 223-7450
Fax: (803) 223-7451

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