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George A. Munro advises privately held businesses and their owners on a wide range of topics including tax, business, and estate planning. George helps clients with all stages of business development from entity formation and funding to sale and acquisition. Further, George assists business owners and leaders with estate planning, business transition planning, and lifetime gifting planning. George also works directly with the Amicus CPAs on a wide range of tax returns including estate tax returns, business tax returns, trust tax returns, gift tax returns, and personal tax returns. George’s hands-on experience with tax preparation gives him additional insight that carries over to his business and tax planning practice.
- Master of Laws (LL.M. in Taxation), 2013, University of Washington
- Juris Doctor (J.D.), 2012, University of Oregon
- Bachelor of Arts (A.B.), 2009, Washington University in St. Louis
- Member, Washington State Bar Association (WSBA)
- Chair, WSBA Tax Section, 2019-2020
- Vice Chair, WSBA Tax Section, 2018-2019
- Secretary, WSBA Tax Section, 2017-2018
- Committee Chair, WSBA Tax Section Young Lawyer Committee, 2014-2017
- Member, WSBA Tax Section and WSBA Business Section
- Volunteer Attorney, University of Washington Federal Tax Clinic
- Admitted to Practice, United States Tax Court
- “2020 Federal Tax Law Update,” WSBA Tax Section CLE Presentation, September 2020
- “Qualified Opportunity Zones: Tax Incentives for Real Estate and Other Investments,” WSBA Tax Section CLE Presentation, June 2019
- “Opportunity Zone Funds – The Basics,” CLE Presentation, December 2018
- Tax Issues Panelist, Seattle University Law School, April 2018
- “Real Estate & Tax,” Guild Mortgage Lunch and Learn Series, November 2017
- “M&A Tax Structuring,” Transactional Community of Practice, March 2017
- Tax Issues Panelist, Seattle University Law School, March 2016
- “Tax Impacts of Divorce,” Eastside Legal Assistance Project CE Series, August 2015
- “Self Directed IRAs and other Interesting Retirement Plan Developments,” University of Washington Federal Tax Clinic Annual CLE, September 2014
- Multiple Additional Presentations to a Variety of Audiences including financial advisors, CPAs, and the like
- Multiple Articles and Contributions to the Amicus Law Group Tax Blog
- University of Washington Federal Tax Clinic Dedicated Volunteer Service Award, 2014 - 2015
- CALI Award for Excellence: Partnership Taxation, Corporate Taxation, Compensation and Benefits I, Corporate Reorganizations
Business Formation and Operation: George assists in the formation and structuring of many business entities including corporations, limited liability companies, and partnerships. George assists businesses of all sizes, ranging from small businesses to those worth several million dollars. Significant emphasis is placed on Operating Agreements, Shareholder Agreements, Bylaws, and similar documents. These agreements dictate the ongoing operation and management of the business. Typical decision points include determining who has managerial authority, deciding each owner’s right to transfer his or her ownership interest, and reaching agreement regarding profit-splitting. Moreover, these agreements help facilitate the transfer of ownership of the business from one generation to the next.
Business Purchase and Sale: George helps business owners buy and sell their businesses. Business purchase agreements include sales of business assets, sales of stock, mergers, and other reorganizations. George has experience representing buyers and sellers in a wide range of business sale transactions, including multi-million dollar purchase transactions. In addition to drafting the business purchase agreement, significant effort and time is placed on tax planning. The goal is always to minimize the buyer or seller’s tax liability stemming from the purchase or sale of the business. The form of the business sale has a dramatic impact on the overall tax burden; therefore, this additional effort can save the client substantial sums of money.
Tax Consulting: Many clients and their advisors (including other attorneys, CPAs, and financial advisors) seek George’s assistance regarding specific federal income tax questions. Federal tax law is highly complex, and George helps clients to better understand these complexities by researching and determining the tax treatment of specific transactions. Forming, funding, and operating self-directed IRAs and Qualified Opportunity Funds are two areas of tax law in particular in which George assists clients.
Tax Return Preparation: George works closely with the Amicus CPAs on a wide variety of federal and state tax returns. George has experience preparing and reviewing many tax returns, including Personal Income Tax Returns (Form 1040), Gift Tax Returns (Form 709), Estate Tax Returns (Form 706), Partnership Tax Returns (Form 1065), C-Corp Tax Returns (Form 1120), S-Corp Tax Returns (Form 1120-S), Estate and Trust Income Tax Returns (Form 1041), and many other tax returns including split-income returns, IRA returns, and charitable organization returns. George typically assists with a tax return that involves unique or complex transactions and issues.
Estate Planning and Probate: George’s estate plan experience includes the preparation of wills, revocable and irrevocable trusts, and family limited liability companies, as well as lifetime gifting planning. In addition, George has helped administer several taxable estates. George places an emphasis on estate tax return preparation, including preparation of the Washington Estate Tax Return and the Federal Form 706 Tax Return. Estates valued in excess of approximately two million dollars are potentially subject to Washington Estate Tax, and estates valued in excess of approximately eleven million dollars are potentially subject to Federal Estate Tax. These taxes can add up quickly; therefore, planning is important to help reduce any such tax burden.
Tax Controversy: George assists taxpayers with ongoing disputes before the IRS. George’s experience includes assisting taxpayers in audits, at appeals, before IRS Chief Counsel, and in IRS collections. George advocates on behalf of the client to reduce or eliminate tax liabilities to the extent possible. In addition, George assists clients with IRS collection issues such as filing Offers in Compromise and Installment Agreements, as well as requesting Currently Not Collectible Status.