Bourne, Noll & Kenyon’s tax practice focuses on the tax planning and preparation needs of individual taxpayers, the closely held businesses in which they serve as principals, and fiduciaries (executors and trustees).  The services the firm offers include:

• Preparing and filing federal and state personal and fiduciary income tax returns and advising clients with regard to withholding requirements, estimated tax payments and general compliance measures.

• Assisting with the purchase and sale of closely held businesses.  Evaluating and advising clients with regard to the income and estate tax ramifications relating to such transactions.

• Advising clients in negotiating and implementing executive compensation and separation agreements, including qualified and non-qualified deferred compensation arrangements and stock option plans.

• Advising clients with regard to succession planning for their closely held businesses including the negotiation and preparation of stock purchase, buy-sell and other agreements designed to implement an effective exit strategy for the executive from his or her company.

• Advising clients planning for retirement and those already retired with regard to distributions from their retirement accounts (qualified plans and IRAs) and other employee benefit plans.

• Representing individuals and fiduciaries in connection with examinations and audits of estate, gift, generation-skipping and income tax returns at the federal and state levels.

• Assisting nonprofit clients with their formation under the nonprofit corporation laws of the State of New Jersey and guiding them through the difficult and confusing process of qualifying for tax-exempt status under the Internal Revenue Code.  Filing exemption applications with the IRS (1023, 1024), annual informational returns (990), charitable registrations with New Jersey and counseling clients on the requirements for preserving their tax-exempt status.