Business Law and Tax Law

Call Chas Holder Now for Your Business and Tax Needs

A Family-Owned Law Firm Providing the Highest Level of Service to the Accident and Medical Malpractice Victims in Central Illinois.

With a Business and Accounting Background, Holder Law Group Has Unique Qualifications to Handle a Wide Variety of Business Situations

Holder Law Group, LLP Unique Qualifications

Chas Holder controls the business transaction and legal tax division of Holder Law Group, LLP. He brings very unique and desirable qualifications to the practice as he is a CPA, JD, and graduated in business from the University of Virginia McIntire School of Commerce with high marks. This tailored skill set puts his clients at an advantage with his knowledge and experience. We provide legal services in both transactional business and legal tax arenas. 

Business Entity Formation

Business Entity Formation For those who are beginning a new business venture, it is critical to choose the proper legal structure. While websites and non-legal firms may allow you to legally create a new entity at a minimum price, how do you know it is the right entity for your business? Should it be a corporation or an LLC? What are the tax consequences of electing S corporation status?

To determine the best answer to these and many other questions, there is no substitute for seasoned legal counsel. Every situation is unique, and numerous complex factors, such as taxation, liability protection, and control by multiple owners, must be carefully considered. Our firm assists owners in determining the optimum structure for their business entity, whether it is a corporation, partnership, limited partnership or limited liability company. Once the right type of entity is identified, we draft the relevant legal documents with the most beneficial provisions and advise you on employment and tax issues.

Call Chas Holder Now for Your Business and Tax Needs

General Business Services

General Business Services For existing businesses, The Holder Law Group, LLP provides a full range of services. For a corporation, these may include assistance with implementing a buy-sell agreement, the redemption of a shareholder, or a reorganization. For a limited liability company, the careful preparation of an operating agreement that tackles such difficult issues as managerial control and transfer of ownership interests will help avoid costly disputes and litigation among the owners. Any business with a key employee may need to protect its relationship with that employee by using an employment agreement or non-competition agreement. In many cases, these tasks are accomplished while also considering business succession issues, as well as the individual owner’s personal estate planning needs.

Because The Holder Law Group, LLP has an extensive tax background, we recognize that minimizing tax costs is a critical component of business planning. Examining tax implications of business restructurings, investments, divestitures or compensation issues can make significant differences in the ultimate financial success or failure of a business entity.

Business Divisions and Liquidations​

Business Divisions and Liquidations From time to time, an enterprise may need to divide into separate parts to accomplish its financial goals, to protect itself from potential liability, to achieve tax savings, or to resolve a conflict among its owners. For a corporation, this is often accomplished by implementing a spin-off, a split-off, or a split-up, which can be completed in a tax-free manner in many situations. These can be complicated transactions with multiple tax implications. 

When it becomes necessary to terminate an entity, both legal and tax issues must be considered. The Holder Law Group, LLP can assist you in planning an orderly liquidation with minimal tax consequences.

Commercial Real Estate. The Holder Law Group, LLP provides legal services for all types of commercial real estate transactions with an emphasis on tax planning.  

A Family-Owned Law Firm Providing the Highest Level of Service to the Accident and Medical Malpractice Victims in Central Illinois.

Holder Law Group’s Estate and Trust Law Team Is Ready to Assist You and Your Family Plan for the Future

Every adult should have some form of an estate plan, whether you are extremely wealthy or of modest means. A will is a good starting point, but there are additional services that Holder Law Group, LLP can provide depending on the complexity of your estate. For example, If you own a home or other property and want to avoid probate, we can create a living trust. If you have a special needs child or adult, we can set up a trust that will not disqualify him or her from federal assistance. We can also help you with guardianship proceedings for vulnerable adults and children. By setting up durable and medical powers of attorney so that you can provide for yourself in the event an injury or illness incapacitates you. We can also create a living will to specify your end-of-life wishes. We can also provide trust and estate services for families dealing with probate. 

Chas Holder not only has a law degree, but he is also a practicing CPA, which provides him with an estate and tax knowledge greater than a person with only a law degree. Knowledge of the tax implications behind your estate plan is essential and Chas can help you navigate through this difficult and sometimes sensitive process. Betsy Holder handles the personal injury part of the practice and brings to bear 20 years of experience fighting for the victims for personal and financial injury. Below is a general list of estate planning that all adults should consider implementing:

1. Make a will.
In a will, you state who you want to inherit your property and name a guardian to care for your young children should something happen to you and the other parent. Even if you do not have any property, this is vital for all parents or guardians.

2. Create Trusts
If you hold your property in a living trust, your survivors won’t have to go through probate court, a time-consuming and expensive process. 

3. Health Care Directives
Writing out your wishes for health care can protect you if you become unable to make medical decisions for yourself. Health care directives include a health care declaration (“living will”) and a power of attorney for health care, which gives someone you choose the power to make decisions if you can’t. 

4. Financial Power of Attorneys
With a durable power of attorney for finances,you can give a trusted person authority to handle your finances and property if you become incapacitated and unable to handle your own affairs.

5. Protect your children’s property.
 You should name an adult to manage any money and property your minor children may inherit from you.

6. File beneficiary forms.
Naming a beneficiary for bank accounts and retirement plans makes the account automatically “payable on death” to your beneficiary and allows the funds to skip the probate process. 

7. Understand estate taxes.
Most estates — more than 99.7% — won’t owe federal estate taxes. For deaths in 2016, the federal government will impose estate tax at your death only if your taxable estate is worth more than $5.45 million. (This exemption amount rises each year to adjust for inflation.) Also, married couples can transfer up to twice the exempt amount tax-free, and all assets left to a spouse (as long as the spouse is a U.S. citizen) or tax-exempt charity are exempt from the tax. 

8. Cover funeral expenses.
Rather than a funeral prepayment plan, which may be unreliable, you can set up a payable-on-death account at your bank and deposit funds into it to pay for your funeral and related expenses. 

9. Protect your business.
If you’re the sole owner of a business, you should have a succession plan. If you own a business with others, you should have a buyout agreement. 

Call Chas Holder Now for Your Business and Tax Needs

A Family-Owned Law Firm Providing the Highest Level of Service in business and to the Accident and Medical Malpractice Victims in Champaign-Urbana and Illinois.

Holder Law Group Has the Legal and Financial Experience to Handle All Types of Commercial and Residential Transactions

The Commercial and Residential Real Estate markets are booming with the improvement in the housing markets. With interest rates still low, there has never been a better time to invest in commercial real estate or buy or sell a home. The Holder Law Group, LLP offers a variety of real estate services from simple residential closings to complex commercial transactions. 

A Real Estate transaction can be very complicated and having a good Real Estate Attorney walk you through the process will only add value and spare you the consequences of a preventable error at closing.   

Real estate law governs the rights and interests in real estate and real property, both commercial and residential, and provides protections for buyers, sellers, land owners, developers, contractors, and real estate agents. Holder Law Group Legal Services Include:

• Commercial and Residential Sales
• Commercial and Residential Purchases
• Leasing and Other Transfers of Real Estate and Real Property
• Title issues

• Settlement of Claims against Property Rights
• Zoning and Land Use Issues
• Agricultural and Environmental Compliance Issues
• Financing, Mortgages, Forclosures and Real Estate Investments

Having an experienced and qualified real estate attorney can prevent legal expenses and headaches in the future.