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Business Tax Planning

Individual Estate Planning

Plunkett Cooney’s estate planning clients range from individuals with assets of several hundred thousand dollars to those with estates valued over $1 billion.

Working directly with each client and, where appropriate, with the client’s advisors and accountants, Plunkett Cooney’s goal is to provide sound tax and business planning advice resulting in the creation of state-of-the-art estate plans that achieve the client’s goals in a manner that minimizes the time and expense of estate administration.

Postmortem tax planning and estate administration are also a major part of the firm’s practice. Plunkett Cooney attorneys represent estates in numerous jurisdictions, and they counsel personal representatives on the preparation of state and federal income and estate tax returns, as well as on tax elections and allocations specific to estates and trusts.

Corporate & Partnership Planning

The attorneys of Plunkett Cooney’s Tax Management Practice Group have substantial expertise in the area of business planning for owners of closely-held businesses, including extensive experience related to S corporations and partnership issues. This area of representation can even involve the integration of business and estate planning techniques by providing advice on tax and non-tax issues pertaining to transfers of family businesses, including capital structure reorganizations, buy-sell arrangements, gift programs and valuation issues.

Limited Liability Companies

First recognized as a way to conduct business in 1977, Limited Liability Companies (LLC) remain a relatively new type of legal entity. States wanted a way to allow individuals to operate a business with the flexibility and tax benefits of a partnership coupled with the limited liability of a corporation. Generally speaking, LLCs are flow-through entities. That is, the profits and losses of the LLC flow through to its members or owners. Whether establishing a new venture, consolidating LLCs, changing a corporation into an LLC, or vice-versa, Plunkett Cooney’s tax and business law team is adept at the rules, regulations and procedures necessary to accomplish each client’s business objectives.


From a simple revocable trust to a complex business or legendary trust, Plunkett Cooney’s attorneys are prepared to assist clients with their estate and business planning needs. Trusts have been around for a long time and there are well-established laws and regulations regarding their formation and operation. Members of Plunkett Cooney’s Tax Management Practice Group understand these laws and are also prepared, when necessary, to serve as trustee for clients requiring that level of service. Individuals contemplating the potential benefits of a trust can contact Plunkett Cooney to discuss the various options. Making the complex understandable is one of the hallmarks of the firm’s service approach.

Joint Ventures

Joint ventures are business agreements in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. Participants exercise control over the enterprise and consequently share revenues, expenses and assets. Joint ventures are quite similar to partnerships. The primary difference is that a partnership or LLC typically lasts in perpetuity, whereas joint ventures exist only for a defined period of time. Start-up companies in need of financing, for example, may want to consider a joint venture. Plunkett Cooney has the resources and networks necessary to identify joint venture partners and to establish the business entity.

Tax-Exempt Organizations

Plunkett Cooney provides advice and representation to a range of tax-exempt organizations and their support networks. Areas of service include, but are not limited to, formation, tax law compliance and controversies; corporate law; financing; intellectual property; employee contracts, compensation and benefits; fiduciary responsibilities of board members, officers and employees; acquisition, construction or leasing of facilities; political campaigns and lobbying; corporate governance; and various other legal matters.

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