Tax Planning & Wealth Building

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Wealth Building

Building Your Wealth Through the Years

Horack Talley offers extensive experience in minimizing taxes and building family wealth.  We focus on individuals and owners of small to mid-size businesses and real estate entrepreneurs who want to build their assets and plan for the future.  At Horack Talley, you’ll benefit from personal attention and a collaborative approach.  We create solutions tailored to your unique needs.

Tax Planning to Build Wealth

No one needs to tell you that tax planning for successful individuals and business owners can be complicated.  But done wisely, it can make a big difference in your wealth and the success of your business and investments.  Horack Talley’s expertise in this area is substantial and everything we do is focused on your goals in building your wealth.

• We have extensive experience in Section 1031 like-kind exchange transactions, including the more complex reverse exchanges.  We also have extensive experience in Section 1033 involuntary conversions (such as condemnations) and the reinvestments of the proceeds from those as well as investments by IRA's and 401k's in real estate and other nontraditional assets.
• We assist business owners with the purchase or sale of businesses, including forming the necessary entities and negotiating purchase and sale agreements.
• We advise on choosing the best structure for a business venture, whether it be a corporation, partnership, or limited liability company, and assist in properly documenting the various relationships.

How we work

Transforming a huge tax bill into independent wealth: Two business partners were selling four related businesses and related real estate.  They faced paying a huge tax bill.  Horack Talley attorneys created a series of like-kind exchanges for them and reinvested all the proceeds.  The partners now own two shopping centers, a stand-alone grocery store, and a further stand-alone retail building.  The after-tax income from all the properties supports them without their needing to work any longer.

Making profitable investments happen: One client wished to sell a property.  If he had simply sold it, paid off the mortgage and paid his tax, he would have ended up with a few hundred thousand dollars after taxes.  A Horack Talley partner got involved through the client's financial planner when the client's intended exchange was in serious trouble and his existing attorney would not solve the problem.  We salvaged his like-kind exchange and helped the client use the tax deferred proceeds to purchase a grocery store.  Later, we worked with the client to sell the grocery store and reinvest in two strip shopping centers.  Instead of having the original few hundred thousand dollars, the two shopping centers now come close to producing that amount per year.