Taxation Accounting Services

Taxation

With an ever-changing tax code and increasing regulatory environment, it makes sense to work with a certified public accounting firm that understands your big-picture goals and can help you develop tax strategies that support them.

Taxation With Representation

The concept of tax strategy is simple: minimize your taxes in order to maximize your opportunities. But effective tax strategy is anything but simple. We believe the most effective tax strategy is proactive and planned. We work with you to understand your business objectives, personal goals and fiduciary responsibilities.

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Our tax researchers and advisors stay abreast of changes in the tax code as they happen, and we apply our deep knowledge and practical experience to understanding how these changes may impact you. We strive to communicate with you throughout the year – we’re with you every step of the way!

Tax planning and return preparation

Taxing authority representation

Estate, gift and trust tax planning

Transactional tax planning and consulting

Business entity selection and consulting

Multi-state tax planning and compliance

Divorce and support taxation issues

Tax effects of buying/selling a business

State and local tax minimization

International taxation

Research and experimentation tax credits

Cost segregation studies

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Taxation Accounting Insights

SECURE 2.0 opportunities : Take advantage of 2024 and 2025 updates

By Sarah Rose Stack • 15 Apr, 2024

President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act into law in late 2022, but much of the wide-reaching retirement legislation is being phased in over time. There are some significant changes in 2024 and 2025 that may help nonprofit employers recruit and retain employees. This article presents what organizations need to know. A brief sidebar looks at how SECURE 2.0 boosts the advantages of qualified charitable distributions (QCDs), possibly leading to larger gifts for nonprofits.

Bad Debt Deductions

By Sarah Rose Stack • 15 Apr, 2024

The tax code allows an individual to claim a deduction for business debts that have become worthless. But qualifying for the deduction may be more complicated than one would think. In a recent case, the IRS denied more than $17 million in bad debt deductions on the grounds that the advances in question represented equity rather than debt, hitting the taxpayer with millions of dollars in taxes and penalties. This article recounts the U.S. Tax Court case Allen v. Commissioner. Allen v. Commissioner (T.C. Memo 2023-86).

Deducting Business Travel Expenses: A Refresher

By Sarah Rose Stack • 01 Apr, 2024

During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting out of their offices, now is a good time for a refresher on the tax deductibility of business travel expenses. This article explores what’s considered one’s tax home and what expenses are deductible. A sidebar explains the deductibility rules when a business trip is mixed with pleasure.