Tax and International Tax
2020 Year-End Tax Planning Documents
The unpredictability of 2020 resulted in resilience among business owners alike. Pivoting business models to accommodate the challenges created by COVID-19 was no easy task, and our team of tax professionals is ready to help plan for the upcoming tax year. Below are year-end tax planning documents ready to download:
Tax Planning & Preparation
We meet with our business clients regularly throughout the year, so we know what’s going on in your business. Our Healthy Growth checklist ensures we have identified every tax saving opportunity. This is part of our service delivery – making sure that every client addresses every tax saving opportunity every time.
Choice of Business Entity & Structure
Starting or acquiring a new business, and getting bogged down by decisions that need to be made? Choosing the type of entity – C Corp, S Corp, LLC, LLP, and how to structure the deal – stock versus asset purchase, ownership – can be overwhelming. Or maybe you just want someone to sit down with you and help you sort through options and think through the tax and business implications. We will help you assess the options and match them to your needs, laying out the alternatives and scenarios in a clear, concise and straight forward manner.
Cost Segregation Studies
If you have acquired, constructed, expanded or made significant improvements to your commercial property in recent years and have not looked into a cost segregation study, you are likely leaving tax dollars on the table.
A cost segregation study allows you to claim larger depreciation deductions in the early years. This lowers your tax and frees up those tax dollars for investment in your business.
S Corporation — Income Tax Planning
If you own an S-corporation, determining your taxable income and cash needs for estimated payments throughout the year can be challenging. Partnering our knowledge of tax law with your projections and current financials, we help you anticipate your required tax payments to maintain a healthy cash flow.
Individual/Owner & Family Compensation and Tax Planning
There are many opportunities for “spreading the wealth” among family members. From salaries to rents to dividend distributions, AGP knows many planning techniques for families to lower their overall tax burden.
A like-kind exchange is simply a trade-in of property you own – a building or equipment – when acquiring similar property. What’s the advantage? A like-kind exchange allows you to defer any taxable gain you may have on a sale of property. Pay tax now or later. We vote for later and we’ll show you how.
Multi-state and Local Tax Return Preparation
Operating business in more than one city or state? Every state and municipality has unique rules and regulations. AGP will complete your state and local filing requirements and prepare the tax returns needed to comply with states and municipalities throughout the USA. We are also well versed in international taxation matters.
Multi-state Nexus Strategic Planning
If you have property or employees outside of Ohio, we keep you abreast of state laws and advise you of the activities that trigger nexus and the need to file tax returns in other states. We can also help you set up your out-of-state operations to reduce or eliminate taxation in that other state.
Tax Credits & Deductions
Tax credits reduce the tax you pay dollar-for-dollar. Business tax credits are available for research and development, energy saving improvements, and numerous other activities. Ohio offers a tax credit to small business owners simply for owning and operating a small business. Tax deductions reduce your taxable income.
Our Healthy Growth checklist reviews each aspect of your business annually to make sure you receive the tax credits and deductions you deserve!
Tax Return Preparation
We will prepare your tax returns – for you and your company, federal, state and local jurisdictions as required. And we will clearly communicate the timing, due dates, and information needed from you.
By staying in contact with our clients throughout the year, we strive to have “No Surprises” at tax preparation time.
Taxpayer Representation before the IRS
Have you received a letter or notice from the IRS? Don’t panic, we stand by our work, and will be with you every step of the way. Whether the matter requires a simple response letter to the IRS or representation in an audit, AGP will see you through the entire process.
International Tax Consulting and Planning
We help companies take advantage of the growth opportunities in the global marketplace. In addition, Apple Growth Partners is an independent member of BDO Alliance USA, LLC. As an independent member of the BDO Alliance USA, LLC we can access the resources of BDO USA, LLP thereby enhancing our service to multi-national clients through a global network of 1,400 offices in 150 countries.
Foreign Financial Reporting
When businesses operate or invest outside the United States, it is critical to file the appropriate tax forms with the IRS to avoid penalties. These include the FBAR and additional forms required for foreign subsidiaries. Additionally, if your business has a foreign owner, there are unique filing requirements. Our professionals keep you compliant and worry free while your international business grows.
Off-Shore Entity Formation
Forming an off-shore entity can be part of a strategy for minimizing your income tax. For example, it may be beneficial to form an IC-DISC if you have significant international sales. Forming and operating an off-shore captive insurance company can reduce your company’s income tax expense as well.
Transfer Pricing Studies
We perform transfer pricing studies to justify prices set for sales between domestic and related foreign entities. The IRS governs the reporting of US profits for these sales. AGP works within the confines of IRS regulations to minimize your taxes.