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Services >
Corporate Tax Service
The firm provides traditional corporate income tax
preparation and planning services to small and medium size
businesses. The firm also offers a wide range of tax planning
services to its clients.
The firm examines each corporate client to determine whether
it is more tax efficient to be taxed as a “C” corporation or as
an “S” corporation. In some situations, the firm may recommend
that another legal entity, other than a corporation, may be more
beneficial. The firm does not take the approach that all
corporations should be taxed as “S” corporations, nor does it
take the approach that all corporations should be taxed as “C”
corporations. The firm does take the approach that each
corporation and its business plan is unique and a meaningful
fact finding and evaluation is performed to determine the best
tax structure for each particular client’s business plan.
The firm determines the most beneficial tax accounting method
available to the business and suggests corporate organizational
structural changes that can be selected to take advantage of the
various accounting methods that may be available to various
segments of the clients business. For example, one segment of
the business may have inventory levels that might require the
use of accrual basis methods of accounting. Another business
segment might be eligible for the cash basis method of
accounting thereby reducing the taxation of profits prior to
collection. Other construction related businesses might qualify
for the completed contract method of accounting that would allow
deferral of taxation on the profits of a contract until the
completion of the project.
The firm will recommend a fiscal corporate year end that
allows the client to use maximum tax planning measures for the
corporate year end as well as maximum planning techniques for
the individual owners’ calendar year end.
The firm will consult with its clients about various fringe
benefits that would be appropriate and for which the client is
eligible that will result in overall tax savings to the owners
and to the corporation. This may include the use of medical
health care insurance programs, medical reimbursement programs,
split dollar life insurance programs, corporate vehicles,
cafeteria plans, etc.
The firm will consult with the client about the most
appropriate retirement programs available to the client. The
recommendation will take into account the number of non-owner
employees the business employs, as well as the age, years of
service, funding ability and the owners retirement need. This
may entail the implementation of a 401k plan, a SIMPLE plan, a
profit sharing plan or a defined benefit retirement program.
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