Taxes are a standby of accounting firms.
IRS codes, requirements, and legal precedents are so numerous that it very often requires an accountant just to ensure you’re getting all the deductions and credits which you are entitled to. This is an area where hiring an accounting firm can literally save you thousands of dollars.
We take a proactive approach to tax planning, tax compliance and tax controversy resolution. By carefully analyzing our clients’ circumstances and the underlying regulations and laws, we customize solutions uniquely for each person.
While taking all actions possible to reduce our clients’ tax burdens, at the same time we work hard to ensure their tax positions are sufficiently supported by the law and regulations to minimize their exposure to penalties and interest. Really, it is this attention to detail which distinguishes us from other firms whose positions are not supported by substantial authority, thereby exposing their clients to significant penalties and interest charges.
Our Tax Partner has extensive experience with a broad spectrum of clients due to his years in practice and the diverse nature of our client base. Jerry Rosen holds a law degree in addition to tax and accounting experience.
Tax Compliance & Preparation
Tax compliance is vital. In fact, it is the meat and potatoes of all tax accounting. In its simplicity, it just means adhering to all local, state, and federal regulations and laws. An area of significant danger for any individual or company is failing to comply with tax codes.
When it comes to compliance, our tax preparations are top-notch, in any area of practice. While ensuring that you have the most advantageous position to minimize your liability, we also work to ensure that you are fully in compliance with all local, state, and federal regulations and codes.
Our tax compliance services include federal and state tax preparation for:
- Limited liability companies
- Estates and trusts
- Not-for-profit organizations
Tax planning can save individuals and companies tens or even hundreds of thousands of dollars. Not always well-understood, tax planning doesn’t involve being overly aggressive or going into a grey area. There are so many fully-acceptable ways of reducing one’s tax burden; there really is no need ever to think about this.
Tax codes were written with small businesses in mind. However, one has to know them. It requires a person with an in-depth knowledge of both IRS codes and legal precedents to really understand the right actions to take.
Tax planning is proactive rather than reactive. Instead of simply figuring the tax burden at the end of the year, tax planning determines actions to be taken ahead of time in order to strategically reduce tax burden. This includes selecting the appropriate corporate entities, structuring compensation correctly, determining the best methods of accounting, and other means.
Our tax planning services include:
- Estate and gift tax planning
- Retirement planning
- Educational funding
- Charitable giving
- Entity selection
- Entity conversions
- Merger and acquisition strategies
- Succession planning
- Multi-state tax planning
- Compensation analysis and planning
- Structuring buy-sell agreements and tax aspects of other shareholder agreements
- Tax aspects of financing and capitalizing the organization
- Evaluation of various tax elections and methods of accounting
- Filing for tax exemptions and elections for the organization and its owners
Tax controversy is exactly what it sounds like: some disagreement regarding a person’s proper tax liability or circumstances. At times, someone may find themselves involved in a conflict with the IRS over what the proper amount owed really is.
We can help.
Our tax controversy services include:
- Representation before the Internal Revenue Service at the field audit and appellate divisions
- Representation before state and local tax authorities at the field audit stage and the appellate division of each jurisdiction
- Representation before local tax authorities regarding property assessments, exemptions, and abatements
- Pursuit of tax rulings and approvals from federal, state, and local tax authorities
- Providing analysis and assistance to our client’s attorney in connection with litigation involving tax matters