Understanding the byzantine world of tax law and utilizing that highly specialized knowledge to a client’s best advantage is the essential element of effective business and individual tax planning. Culp Elliott & Carpenter can help you plan your transactions in order to maximize tax benefits – and avoid tax disasters. On a daily basis, we work with individuals and organizations who are subject to tax laws around the world, including domestic and foreign entities, C corporations and S corporations, partnerships and limited liability companies, professional associations and sole proprietorships, trustees and executors, disregarded entities and tax exempt organizations.

Culp Elliott & Carpenter’s goal of having its clients pay the least amount of tax legally possible is best explained by a quote from former IRS commissioner Donald C. Alexander:
“Tax laws are numerous and ever-changing. In order to navigate them legally and intelligently, taxpayers need experienced and highly motivated tax professionals.” Governments will follow the path of least resistance in collecting money. Those who aren’t well represented will be the ones who pay the most tax. That’s the way the system works.

We develop tax planning strategies that achieve clients’ individual and business objectives while using the tax laws to advance the economic efficiency of transactions. Knowing and understanding a client’s business, balance sheet and competitive profile allows us to appropriately balance tax considerations and transaction objectives to achieve the best possible results.

Culp Elliott & Carpenter’s Business and Individual Tax Planning practice provides comprehensive experience in the areas of concern for individual and business clients, including:

  • Corporate, partnership and joint venture tax planning, including choice of entity
  • Real estate development activities and tax planning
  • Multistate tax planning
  • Tax exempt organizations
  • International tax planning
  • Property tax and sales tax issues
  • Reasonable compensation analysis and business valuations
  • Non-taxable exchanges and capital gains and losses
  • Charitable tax planning

Whether you are implementing a new business venture, guiding a business through the start-up phase, managing significant developments throughout the life of a business, or directing the sale or dissolution of a business or its assets, we can identify and plan for the associated tax consequences and help you and the other members of your team reach your goals.