Simplifying Your Business Structure
We provide clients with entity formation services, practice mergers and acquisitions, practice transitions, small business negotations, and help position business for strategic tax planning.
Here at HUYNH & FESTA, we assist business owners structuring their practices and businesses to maximize complicated tax strategies by taking advantage of a host of sophisticated tax deferment modalities. You will be guided through this process by an expert in land use and real estate in Texas. Matthew Festa is a highly regarded law professor of land use. He regularly lectures on the subject and is a member of the Kinder Institute for Urban Research. Matthew has also worked with Locke Lord LLP, and is often called on as an expert witness in large scale projects concerning land use litigation. As a dentist, small business owner and attorney, Hieu has been involved in many business, real estate transactions, practice sales and transitions, in which he took a hands on approach in structuring the entities, transaction, negotiations and business development to maximize asset protection, professional liability shielding and tax strategies.
Practitioners hire other professionals to work at their facility, enabling the practitioner to reduce their clinical hours. They can then direct the growth of the practice and ensure quality of care as a whole. Our practice transition services are perfect for health care providers that are just entering the profession as well as seasoned providers looking to slow down their pace in the industry.
On the financial side, our transitioning services maximize what you receive when retiring. Whether you desire to remain involved, or prefer to cut all ties with the practice, our team can work with you. We can find the right buyer for you or we can find a new doctor to bring on board that possesses the skillset and quality you expect.
When you decide to sell your facility, our main goal is minimizing the taxes you have to pay on any moneys received, otherwise known as capital gains taxes. When dealing with complicated tax structuring, there is always a give and take when it comes to capital gains. Even if you are trading up to a bigger office and not leaving the industry for good, planning with us early on will make an incredible difference.
Business & Personal Asset Protection
A corporate entity on the business side of a practice is like a shield between the health care provider and unnecessary taxes. Any doctor who is practicing has something to lose… Unfortunately, if you are a business owner who also happens be a doctor, you shine even brighter as a target. Most high net worth individuals think that they are fully protected, but the truth of the matter is assets are always vulnerable.
Asset protection is available for more than just financial assets. Key employees can also be covered with asset protection from our firm. If your primary employee leaves down the road, your business may suffer if you are unable to find a qualified replacement in a timely manner. Our approach to asset protection prepares for this scenario, as well as many others that health care providers may face.
Real Estate Development & Planning
Real estate development transactions can be complicated but can provide great opportunities and rewards. However, they may also present significant risk. Today’s market and economic climate invites missteps that may yield less than optimal results. HUYNH & FESTA believe these challenges make it necessary to engage top-quality counsel. Our lawyers assist in structuring businesses and real estate transactions that maximize results, optimize tax planning and minimize the risks associated with real estate transactions and development purchases, ownership and management.
We work with agents who conduct demographic studies and apply the data to direct practice growth. It is always important to know the demographics in the area of your practice, but it is even more important for specialists who want to get the most from their investment. We do the full gamut of litigation work, including:
When small business owners in Texas are looking to set up a new practice, build out an existing one, or acquire a satellite office, they turn to HUYNH & FESTA for the assistance they need. We work with banking agents and practice brokers, and will create and prepare all of the necessary bank documents to help you position yourself in the best way possible. We cover business proposals, structuring, and profit and loss, and we present all of the data correctly to the bank.
We make sure that the vendors, landlords, and others involved not only comply with the bank, but with the Board as well. All construction contractors that we work with specialize in health care facilities, and everything we handle is OSHA complaint.
Wills, Trusts, & Estate Planning
Advanced medical directives, also known as living wills, help direct people on what should happen, even if it is unlikely. We are experts in providing this service to health care professionals who have their own practice, helping them make smart decisions regarding both business and family. This area of our office is headed by a wills, trusts, and probates professor who speaks regularly on these courses and other topics in this field.
It is important to ensure that after your passing, certain items are left to the appropriate parties. There are many ways to ensure this happens, and our attorneys will make sure that you choose the easiest, most beneficial path for your situation.
This service isn’t just for seniors—it’s for anyone with assets and accounts that need to remain in order. Let us help you plan who takes on guardianship of your kids, who gains access to accounts, and what you will do with your existing practice.
Governmental Healthcare Audit
Federal regulations require states to conduct audits of payments to eligible professionals (EP) and eligible hospitals (EH) participating in the Texas Medicaid Electronic Health Records (EHR) Incentive Program. The Health and Human Services Commission (HHSC) follows policies and procedures related to audit notifications and review of audit findings in accordance with Texas Administrative Code. HHSC contracts with an independent audit firm to conduct audits of Texas Medicaid EHR Incentive Program payments. The auditors will notify each EP and EH (provider) selected for a post payment audit. If audited, the provider must complete a questionnaire and supply auditable supporting documentation to verify that the provider met the federal and state requirements for receiving Texas Medicaid EHR Incentive Program payments. After completing the audit, the auditors will issue an Audit Results Notification Letter to inform the provider of the audit outcome and explain any audit deficiencies. Providers have a ten-day (10) period to submit additional information to the auditors to demonstrate remediation or otherwise resolve deficiencies cited in the Audit Results Notification Letter. This ten-day (10) remediation period is the last opportunity for the audited provider to add documentary evidence to their case file during the entire audit and review process. Our team of attorneys help guide you through the audit process and help protect your rights.