Minimize Your Tax Liability
Taxes. We all have to pay them. However, you don’t need to pay more than you are required to by law. Tax obligations are heavy burdens for most business and require proper planning. Since virtually every financial transaction you make could impact your tax strategy, you need to actively plan for tax consequences and ramifications year-around.
We work to help our clients minimize their taxes. That doesn’t just mean around the time your taxes are due. By maintaining contact with you all year, we can help you understand the tax impact of your business decisions. It’s that up-front conversation that allows us to help you plan for potential tax increases and look for opportunities to minimize your tax burden. In addition to proving business and high-net-worth tax services, we also provide tax services to nonprofit entities.
We can work with you to proactively manage your tax liability. Contact us to learn more.
The challenge: simultaneously minimize both tax burden and compliance risk.
Federal income tax is one of the most challenging and crucial aspects of managing your company. Tax expense is a significant factor in both annual and long-term performance. Compliance presents an ongoing risk, one that demands nearly constant monitoring of the regulatory landscape.
We provide our clients with a comprehensive, proactive approach to the challenges and opportunities inherent in federal tax and all its complexities.
To assist with federal tax services, we provide:
- Planning advice
- Development of Tax Credit
- Federal Tax Compliance
- Tax Controversy
- Compensation and Benefits
Innovative strategies for companies’ largest tax burden
For many companies, employment taxes are the single largest tax burden – yet often receive little attention. As states become more aggressive and as laws at all levels become more complex, the dual challenge of minimizing both tax liability and compliance risk is greater than ever before and requires an innovative approach.
With accounting background, we help clients of all sizes identify and implement ways to reduce their current and future employment tax burden, and take advantage of opportunities to recover overpayments from previous years.
To assist with employment tax services, we provide:
- Employment tax planning
- Dispute resolution
Know Where You Have To File State & Local Taxes
As more companies are conducting business in other states, taxation on inter-state businesses is on the rise. To complicate matters, states are expanding their definition of “doing business” in their states; opening up more businesses to potential tax liability. It’s very common for businesses not physically located in a taxing jurisdiction to have to pay taxes there under the concept of economic nexus. The complexity of compliance can be overwhelming.
We work with many companies that conduct business in numerous states and have experience working with dozens of taxing authorities. We take the time to understand your business so we can help you uncover any potential taxes owed, and take them into consideration as part of your overall tax plan.
Businesses and high-net-worth individuals rely on us for help with:
- State and local tax return preparation
- State and local tax planning
- Real estate tax
- Personal property tax
- Nexus consulting
- Credits and incentives
- Sales and use tax compliance
- Voluntary disclosure agreements
- Amnesty programs
- Audit representation
Transfer Pricing Studies For Multinational Businesses
If you are a multinational entity, then you are under increased scrutiny from the countries where you operate. As you transfer goods across borders, tax issues are going to arise that could result in a significant tax burden. You have to balance tax savings with compliance to avoid penalties. Proper planning is essential for any global business.
Most taxing authorities use transfer pricing studies to determine the proper taxable income for those companies who can intentionally shift tax obligations from one country to another. A transfer pricing study helps you comply with transfer pricing regulations and reduces the chance that a taxing authority will adjust a price.
To assist with transfer pricing, we provide:
- Planning advice
- Development of policies
- Risk assessment
- Dispute resolution
Establishing Advanced Pricing Agreements
To reduce the risk of double taxation, save on costly litigation and eliminate the hassle of transfer pricing audits, multinational companies can enter into Advanced Pricing Agreements (APAs) with the IRS or other taxing authorities. By proactively specifying the pricing method to be used, an APA provides you certainty with future transfer prices and related taxable income.
Our team has significant hands-on APA experience, having worked with many companies and different taxing authorities. This in-depth knowledge of APA, will let us help you develop strategies that work in your home country and abroad. From determining when an APA is needed to assisting in the negotiations to walking you through any claims, we can help you make this international strategy work for you.
Talk to one of our international tax specialists to see how we can help you.
Navigating the Complexity Of International Tax
Today’s world is incredibly global. U.S. businesses are operating in foreign countries and foreign corporations are doing business in the U.S. every day. These businesses face complex multinational tax challenges that must be considered as part of the company’s overall tax strategies. The experience is exciting and perhaps a little scary because of the number of tax laws that apply to your business.
We have significant experience helping businesses with international tax issues. Our focus is on helping you make sense of the constantly changing rules and ensuring you have the right business structure to produce the greatest tax advantage. Not only do we help you understand all your reporting requirements, but we’ll advise you on reducing your overall tax liability.
Our inbound and outbound international tax services include:
- International tax compliance
- International tax planning
- Transfer pricing agreements
- Advanced Pricing Agreements (APAs)
- Value Added Tax (VAT)
- Corporate structuring
- Taxing authority audits
- Mexico’s Maquiladora program
Simplify Your Reporting of Foreign Assets
A recent overhaul of the Foreign Asset Tax Compliance Act (FATCA) has made it significantly more complicated—and time consuming—for foreign financial institutions as well as certain other non-financial foreign entities to report foreign assets held by U.S. taxpayers to U.S. government. Not only do you have to withhold a percentage of payments, but there are forms to complete that come with dozens of pages of instructions. Then forms must be filed electronically through Filing Information Returns Electronically (FIRE), and there are even more pages of instructions on how to use this system. It’s a requirement that is very difficult for you to complete yourself.
We help many multi-national businesses with all their international tax issues. In addition, many business owner clients are U.S. citizens living abroad or individuals with dual citizenship, and we help them navigate all their tax reporting requirements, including those related to foreign assets. We can help you understand these complex requirements and ensure your compliance so you don’t face large penalties.
Our FATCA services include:
- FATCA risk analysis consultation
- FATCA registration to obtain Global Intermediary Identification Number (GIINs)
- Preparation and filing of:
-Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
-Form 1042-S, Foreign Person’s U.S. Sources Income Subject to Withholding
-Form 8938, Statement of Specified Foreign Financial Assets
-Form 8966, Foreign Account Tax Compliance Act (FATCA) Report
-Form W-8BEN, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting
-Form W-8BEN-E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)
- And many more
We can help you understand how FATCA impacts your business and assist with your compliance and reporting needs.
Contact Us for help with these complicated rules.