Declaring bankruptcy or losing your business aren’t your only options if your current company is too far in debt because of federal and state tax issues. In certain cases, corporate restructuring can be a legal way to shed your business’ tax debts and still keep your company going. By shutting down your company and restarting it as a newly formed business entity, you can free your business of the weight of thousands of dollars owed to the government.
Corporate restructuring is not simple, and doing it incorrectly can mean that your tax debts follow your company into its new form. We can help you examine your financials and decide whether or not restructuring is right for your company. If it’s determined that corporate restructuring is the right approach, we can make sure it is done correctly and within the confines of the tax laws.
If you previously underwent corporate restructuring and are still being followed by your old entity’s tax debts, our experts can help you fix this.
Contact our office today to schedule a free consultation.