Tax Planning & Compliance
Entity and Individual Tax Services
In today’s complex, ever-changing tax environment you need guidance and creativity from knowledgeable professionals who identify and implement tax planning strategies that limit present and future tax liabilities.
Gumbiner Savett provides a wide range of international and state and local tax consulting and tax planning solutions for individuals, businesses, estates, trusts and private foundations. Our experienced team of tax professionals knows that proper tax planning requires a thorough understanding of each client’s unique objectives, plans, and opportunities. That is why we take a proactive approach to ensure that compliance requirements are fulfilled and every opportunity to minimize tax liabilities is examined.
By creating long term relationships and customized tax solutions for our clients we provide creative and flexible options that eliminate, reduce or defer tax obligations.
State & Local Tax
As a full-service CPA firm that can manage all tax disciplines, Gumbiner Savett is equipped to assist with any state and local tax issues or questions. Our clients – which have assets ranging from $5 million to $1 billion and are involved in wine producing, manufacturing, food and agriculture, airline, leisure and other related industries – have had many of the same concerns that you may have.
Our services include:
- State income taxes
- City gross receipts taxes
- Sales and use tax reviews
- Transaction planning and structuring
- Property tax preparation and compliance
- Empowerment zone credits and incentives
- Individual and business entity income tax consulting
- Multi-state individual and business planning and consulting
Our knowledge and expertise has saved our long-term clients millions through accurate property tax compliance over the years.
Public Company Tax Services
Gumbiner Savett offers a comprehensive range of tax services to publicly held companies including services “prohibited” by the Public Company Accounting Oversight Board (PCAOB) in conjunction with Sarbanes-Oxley.
Our services include:
- Corporate tax planning and compliance
- Tax provision preparation, review and analysis (FASB 109)
- FIN 48 analysis and preparation and review
- Section 382 Studies (net operating loss limitation analysis)
- Research credit maximization
- Tax services “prohibited” by Sarbanes-Oxley including:
- Preparation of the quarterly and annual tax provision for the financial statements
- Personal tax services for officers with financial oversight responsibility
Tax Credits and Incentives
Are you receiving the maximum amount of credits and incentives available to your business?
Many state and local authorities offer incentives to attract new businesses and expand existing ones. However, researching the opportunities and keeping track of these ever-changing incentives can be a challenge. Your company may be engaged in activities that qualify for expanded federal and state tax deductions and or credits. Gumbiner Savett works with clients to uncover and document these activities and costs to ensure that all benefits are maximized.
Our services include:
- Identifying state tax incentives, abatements and credits from qualifying activities
- Qualifying for the Federal Research & Development tax credit
- Reducing current-year effective tax rate
- Refunds from previously filed federal and state income tax returns
- Jobs Creation Tax Credits
- Enterprise and empowerment zones
Accounting for Income Taxes – FAS 109 and FIN 48/ASC 740
Accounting for income taxes and accounting for uncertainty in income taxes may cause many challenges for all involved including the business, the auditors, and the tax preparers. The challenges can take on many forms such as understanding accounting rules for foreign operations, allocations and business combinations. At Gumbiner Savett we are able to help our business clients steer through the complex issues associated with accounting for income taxes by providing specialists who have navigated the rules numerous times before.
We have also established ourselves as a go-to firm by other local, regional and national firms who are unable to provide this complex service, many times due to conflicts with independence.
- Preparation and review of FAS 109 calculations — accounting for income taxes
- Preparation and review of FIN 48/ASC 740 calculations — accounting for uncertainty in income taxes
When considering the impact a new administration or Congress has on the Internal Revenue Code as it relates to foreign operations or investments, the myriad of global taxing structures can be overwhelming. We know how to overcome challenges and find opportunities when doing business abroad or when investing foreign funds in the United States. How does international investment impact net worth? Who can tax foreign investments? How does one reduce tax liability through international investment? What tax benefits are achieved with business expansion onto foreign soil?
When dealing with foreign governments and entities, businesses need advisors who understand how to maneuver around all possible issues. As a full-service CPA firm that can manage all tax disciplines, Gumbiner Savett’s level of technical expertise gives our clients the comfort of knowing that their global operations and investments are properly structured and create worldwide tax efficiencies.
Combined with our BKR International affiliation, our tax expertise transcends over 80 countries throughout the world to help meet our client’s needs.
Our expertise in the areas of international tax planning and compliance has significantly benefited our clients over the years.
Our team’s services include:
- Strategic structuring for U.S. companies tapping foreign markets
- Merger and acquisition advisory for cross-border business combinations
- Advising foreign businesses entering the U.S. market
- Tax planning for global investments using optimal capital structures
- Reducing worldwide effective tax rate
- Expatriate and global employment assistance, planning and compliance
- Assistance with transfer pricing studies
- Foreign reporting and compliance