M. Seth Sosolik

I work with closely held businesses and their owners on the many legal, tax, and business issues that typically arise in the life-cycle of a business. I graduated cum laude from Baylor University with a B.B.A. in accounting, going on to receive my law degree from Baylor Law School.

I then attended SMU School of Law to obtain specialized training in tax law, receiving a LL.M. in Taxation. I routinely utilize my accounting skills to develop a sound understanding of the financial underpinnings of a business. I also know that human dynamics impact any business challenge, just as much as the numbers do, and as such I work hard to gain a true understanding of the dynamics at play in the business, with its customers, as well as among the owners and key employees. Finally, my experience over the years in working with business owners – from folks just starting their first business to seasoned entrepreneurs – across many industries has taught me a great deal about how business owners think and view the world.

My goal is to effectively combine my skills and experience to gain a solid understanding of all factors impacting my client, listen to my client to understand exactly what they perceive their issues or needs to be, and then combine my skills and my understanding to provide advice and counsel to that client that can be used to make informed decisions and plans.

Below is additional detail as to the substantive areas in which I work:

Transactional Planning:

I advise on all aspects of forming, organizing, and operating a new business. This includes entity and tax character selection, capital raising, and the drafting of governing documents such as LLC agreements, partnership agreements, and shareholder agreements.

But my advice doesn’t stop there—I work to stay with clients throughout the life-cycle of their businesses. This often involves drafting contracts which serve a wide variety of business needs, including service agreements, supply and vendor contracts, and licensing agreements, as well as employment agreements and non-compete, non-solicitation, and confidentiality agreements.

Rounding out the life-cycle of the business, I also represent both buyers and sellers in structuring, negotiating, documenting and closing all forms of mergers and acquisitions. These transactions include stock, membership, and partnership interest acquisitions, assets acquisitions, divestitures, tax-free reorganizations, and divisions.

Business Disputes:

Disputes can arise in any business. I routinely provide strategies for tackling disputes with customers and vendors. I work to help clients resolve issues without court involvement whenever possible, but continue to work with litigators to provide advice and sound business support when litigation is necessary.

If the dispute is between business owners, I work to understand the root causes of the conflict. I’ll try my best to develop a resolution or work-around that puts all parties into a position where they can work together peacefully, doing what they do best. If a work-around can’t be found, I’ll help clients divide the business or separate from it in a fair, reasonable manner.

Succession Planning:

Ultimately, every business must move to the next phase. I provide succession planning advice to help develop a plan to smoothly transition the business to the next generation of family members, to key employees, or to new owners altogether via a business sale. I routinely work with my clients on all of the succession planning documents, from wills and trusts to incentive compensation documents and equity award arrangements.

Tax Planning:

Tax issues touch every aspect of a business. I counsel clients on a full range of federal tax matters. I also handle all aspects of federal tax controversies, from audits to appeals and help clients navigate the courts when matters simply can’t be resolved at the administrative level.

I also have an active state and local administrative tax practice before the Texas Comptroller on sales, use, and franchise tax matters, as well as county appraisal districts on commercial and agricultural or open space appraisal matters.

Admissions:
  • State Bar of Texas
  • S. Tax Court
  • S. Court of Appeals for the Fifth Circuit

Memberships

  • Member – Dallas Bar Association
  • Member – American Bar Association

Honors and Awards
Texas Rising Star, Tax, Texas Monthly Magazine, 2006, 2007, 2009-2015

Personal Notes:

I love spending as much time as I absolutely can with my young son and my wife enjoying everything life has to offer. As for myself, I love being outdoors and I love the challenge of seeing how far I can push myself, so when I can, I try to find a triathlon, a long swim, run, or bicycle ride and just see how much I can take and how far I can go.

M. Seth Sosolik's Contact Information

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