By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance with the Privacy Statement (including international transfers). If you change your mind at any time about wishing to receive the information from us, you can send us an email message using the Contact Us page. A core team of tax professionals can lead your compliance effort and help identify potential planning opportunities and https://turbo-tax.org/ tax benefits. When needs arise, tax subject matter specialists bring insights that can serve your business strategy beyond tax reporting. Managing Director Brian Yormack is a highly accomplished entrepreneur and CPA. After working for prominent accounting organizations, Brian broke out to start his own firm, where he leverages his extensive expertise in financial analysis, taxation, and strategic financial planning to elevate businesses and individuals to the next level.
Companies with significant equity activity may unknowingly experience ownership changes. Real-time access to your data and reports is available when you need it. We provide our interns with the tools, resources, and support they need to succeed, including ongoing training, development programs, and flexible work arrangements. An accurate calculation of stock basis (SB) and earnings and profits (E&P) is an essential element in making informed decisions for companies involved in structural change (e.g., disposition, merger, liquidation, spin-off or extraordinary distribution). This webcast examines the ins and outs of direct payment and transfer of many of the clean energy credits extended or enacted by the Inflation Reduction Act of 2022. Check out the replay as our panel of specialists discuss issues related to financing clean energy projects.
- Known for his exceptional leadership, proven track record in business development, and commitment to client satisfaction, Brian is a respected figure in the industry, combining his business acumen with a passion for financial education and community engagement.
- BDO’s strategic tax advisors approach every client with a total tax mindset – helping businesses and organizations assess the tax implications of business decisions to understand their total tax footprint.
- PwC’s Accounting Methods team can help your company understand the impact of business decisions on accounting methods and inventory calculations − and the impact of accounting methods and inventory calculations on your business..
- PwC’s 382 team works to determine whether or not your company has undergone an “ownership change” in light of a transaction, triggering the application of Section 382, and if so, the impact of that change on your company’s ability to utilize its losses to offset future income.
- PwC works with companies to leverage technology in the labor intensive process of maintaining tax basis reconciliations as well as assist companies with remediation of variances in the cumulative tax basis balance sheet.
- We help you understand what’s important in a sea of choices, and we give you the tools you need to manage your claims efficiently.
The process of selecting appropriate accounting methods can be overwhelming - especially considering the need to manage taxable income for broader attribute management. The vast range of methods and elections available today, coupled with the resource constraints companies face, often result in a company using unfavorable accounting methods and leaving both permanent and temporary tax savings on the table. Companies should regularly evaluate their accounting methods and elections to meet their overall tax objectives. This review will allow companies to identify planning opportunities at the earliest time possible.
Like-Kind Exchange Services
Known for his exceptional leadership, proven track record in business development, and commitment to client satisfaction, Brian is a respected figure in the industry, combining his business acumen with a passion for financial education and community engagement. Specialized tax services (STS) refers to advanced tax-related services beyond traditional tax preparation and filing. These services are tailored to meet the unique needs of organizations with complex tax situations. They are designed to help clients navigate complex tax laws and regulations, minimize their tax liability, and maximize their tax savings.
For additional information please access our frequently asked questions or your online account. Sightline is a tax platform that makes the entire tax process more collaborative and insightful. On call for big-picture planning strategies to day-to-day tax filing requirements. Examples in real estate include Cost Segregation studies, 1031 Exchange, Opportunity Zones, and 45L.
More Definitions of Specified Tax
With that, we are compensating well for successful contributions and talents, and do not emphasize hourly as much as results. You will be paid the bonus compensation for what each role defines as Success, and what you can bring to the table. A TCA study may help companies to accelerate deductible or amortizable transaction costs to achieve tax savings and increase cash flow. PwC’s STS team is a diversified practice providing industry leading expertise in key federal tax areas, such as Accounting Methods, Fixed Asset, Research Credit, and domestic Transactions Services, in addition to offering market leading technology-enabled and value-added enterprise wide solutions. We use technology, client data, and our deep tax technical expertise to solve client problems and create value for our clients through permanent and/or cash tax savings. Every activity that a business conducts usually has implications for taxes.
Settlements and Judgements Analysis
PwC’s Accounting Methods team can help your company understand the impact of business decisions on accounting methods and inventory calculations − and the impact of accounting methods and inventory calculations on your business.. PwC has developed technology that uses location data to unlock tax savings and insights. For example, GPS data and telematic information from a client’s fleet can be utilized to claim fuel tax refunds and automate fleet tax compliance. We offer PAID opportunities for college students and experienced hires to gain hands-on experience in digital marketing, social media, and business development. Large business transactions are an opportunity for tax credits, benefits, and incentives. Avoid overpaying taxes by understanding the deductions and credits available to you.
PwC’s 382 team works to determine whether or not your company has undergone an “ownership change” in light of a transaction, triggering the application of Section 382, and if so, the impact of that change on your company’s ability to utilize its losses to offset future income. We offer our clients a global perspective on their R&D activities, their current claims, and their incentives opportunities worldwide. We help you understand what’s important in a sea of choices, and we give you the tools you need to manage your claims efficiently.
This perspective may be an unexpected approach to tax services, but it’s crucial to how PwC works with private clients — helping deliver sustained outcomes for private companies and owners. R&D tax credits can provide significant benefits to businesses through credits for eligible innovation, product development, and research-related expenses. This service is particularly beneficial for software, technology, pharmaceuticals, and manufacturing businesses, where significant R&D investments are made. BAY provides Accounting & Tax solutions to CPAs and businesses within the United States on what deductions, benefits, credits, and incentives might exist. Our team specializes in narrow slivers of the tax code, emphasizing Real Estate, Employee Retention Tax Credits, and Research & Development Tax Credits. We can help companies identify federal and state R&D tax credits, enabling them to realize cash tax savings for qualified research activities.
Inventory Solutions: Section 263A/ UNICAP
BDO is the brand name for the BDO network and for each of the BDO Member Firms. BDO USA, P.C., a Virginia professional corporation, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO has been our tax firm for many years and we have built a very close working relationship. PwC works with companies to structure capital expenditures (i.e. acquisitions, new construction, and renovations) in a manner that qualifies the resulting property as replacement property in a like-kind exchange (LKE). Did you know you can access your 2023 Year-End Tax Statements through your online account? Forms were mailed in late January and may take up to 10 business days for delivery.
PwC assists companies to apply complex Section 263A (UNICAP) regulations by analyzing the methodologies used to capitalize required costs. Section 263A applies to all property produced (i.e. inventory and self-constructed assets) and/or held for resale by a taxpayer and, while complex, the regulations provide flexibility in the capitalization methods used which can align to a company’s specialized tax services overall tax objectives. If you are a college student or professional passionate about digital marketing, social media, or business development, we invite you to explore our internship programs and join the BAY team. Our internship programs are designed to provide an immersive six-week program that will give you the skills and experience you need to succeed in your future career.
Tax technology that simplifies
Pandemic Related Laws include helping businesses take advantage of the ERC and navigating how the Paycheck Protection Program (PPP) grant will apply. We are seeking a motivated and tech-savvy Digital Media and Marketing Intern to join our team. In this role, you will be responsible for a broad range of marketing duties for a small professional services company. The perfect candidate for this position is someone who is proactive, has excellent communication skills, and possesses an entrepreneurial mindset. PwC’s Specialized Tax Services Transaction Services practice can analyze proposed transactions to identify tax-saving opportunities or unexpected tax risk with the use of proprietary technology and proven methodology. Corporate transaction activity continues to increase and is one of the quickest paths to growth - but is also loaded with uncertainty and hidden risk.
We are seeking a motivated and entrepreneurial Specialized Tax Services Sales Intern to join our team. As a Specialized Tax Services Sales Intern, you will generate new business and educate business owners about our specialized tax services. The primary focus will be to identify businesses that are eligible for tax credits and to pursue a relationship with these businesses. The ideal candidate is a self-starter with strong communication skills, a collaborative mindset, and a passion for sales. The complexity of calculating depreciation, coupled with tax law changes, merger and acquisition activity, and ERP system and cloud migrations has increased the need for companies to have a clear strategy around the management of fixed asset tax reporting. PwC works with companies to analyze the methods used to determine the timing of income and expense recognition (e.g., revenue, deductions, cost capitalization and recovery, inventory, leases) and identify beneficial accounting methods based on the client’s specific facts and desired tax objectives.