Business and Succession Planning

A Wealth of Expertise and Experience

Chuck Borek, who leads our business and succession planning practice, has been practicing business, tax, and nonprofit law in Maryland for almost 30 years. He has been a licensed Certified Public Accountant for the same period and holds a Master’s Degree in Business Administration. Chuck has published widely in all three areas and is recognized as a subject matter expert by several nationally recognized continuing education providers.

The Importance of Business Planning

The choices available today for structuring and operating a business are many and varied. Tax issues, compensation arrangements, and organizational management are all considerations important to those beginning, expanding, or investing in a business. Should the business be structured as a limited liability company or an S-corporation? Which is the best jurisdiction in which to form the company? What regulatory requirements apply to the business? These are just some of the questions that must be addressed to avoid costly mistakes. The attorneys at Elville and Associates provide assistance in traversing the maze of business matters that owners, creditors, and key employees will inevitably face. Whether you are in the initial phases of organizing a business, considering investing in an existing business, looking at opportunities for expansion, or weighing alternative compensation arrangements to meet specific business objectives, our attorneys have the background in law and business necessary to navigate the complexities of transactions of all types.

The Importance of Succession Planning

Every business owner will cease to be an owner someday, whether through retirement, transfer, or dissolution. Owners who ignore this inevitability and fail to plan for its consequences may find that their options for achieving desired results are limited. Succession planning is about laying the groundwork for a smooth transition of business ownership to family members, employees, or buyers. Every transaction has tax consequences, and the tax cost of a business transfer can vary widely depending on how it is structured. Often, the most tax advantageous structure of a business transfer can only be achieved with advance planning. Employment law and other regulatory matters may come into play as well. Whether you are just starting to contemplate a future conveyance of your business or have received an offer from a potential buyer, the attorneys at Elville and Associates are ready to guide you through the process.