Tax Services
Individual and Family Tax Services
Changes in the tax environment may result in opportunities for you. SGC keeps abreast of these changes to provide you with tax counsel that may minimize tax payments. Planning is the foundation of our work. You can rely on us for creative and objective planning and guidance, along with the hands-on attention. We can assist when a special situation arises, particularly those that affect your current and long-term financial picture. Turn to us for help with:
• Income tax projections and year-end tax planning
• Multi-year tax projections
• Timing of income and deductions
• Minimizing the impact of alternative minimum tax
• Tax strategies related to your investment planning and capital gains
• Family-owned or closely held business succession planning
• Timing of income and deductions
• Education funding
• Retirement planning
• Estate and gift tax planning
• Charitable giving planning
• IRS and state controversy representation
• Residency issues
• Federal and state tax return preparation
Corporate Tax Services
SGC handles all aspects of tax compliance and planning for privately held companies, including closely held corporations, S Corporations and Limited Liability Companies. SGC works directly with client management to develop tax planning strategies to minimize their corporate federal tax liabilities. In conjunction with other tax advisory groups, we also provides a variety of tax advisory and compliance services to corporations operating in multiple states, local and foreign jurisdictions.
Accounting for Income Taxes (ASC 740 – formerly FAS 109)
SGC’s accounting for Income Tax Services Group offers comprehensive tax and accounting services and advice that helps companies successfully implement the rules and regulations associated with ASC 740 and ASC 740-10. In this ever-changing financial environment, it is imperative that companies dedicate the resources required to accounting for income taxes in order to meet the higher standards required by the Sarbanes-Oxley Act of 2002 (“SOX”) and other financial regulations.
SGC’s dedicated team understands the intricacies and challenges associated with ASC 740 and ASC 740-10. Whether public or private, large or small, SGC professionals have extensive experience working with companies and their external services providers ensuring a successful and efficient implementation of Accounting for Income Taxes. SGC’s Accounting for Income Taxes Services include the following:
State and Local Tax Services
SGC offers innovative and value-driven income/franchise tax planning strategies for all entities, whether they are conducting business in one, several or all fifty states. This includes individual tax clients who have Forms K-1 from pass-through entities operating in several states, as well as corporations that have operations that require a multi-state presence. By implementing one, or a combination, of our tax reduction strategies, SGC assists its clients significantly by reducing their effective state tax rate and increasing their earnings. We assist our clients in understanding the ever-changing state income and franchise tax law landscape while recommending optimal tax and business alternatives.
Representation Before Tax Authorities
No organization looks forward to the prospect of appearing before a tax authority; however, audits and investigations are a fact of business life— even for those taxpayers who consistently maintain best practices across their enterprise.
SGC understands that in today’s contentious environment, the requirements you and your business tax accountant must meet have never been more rigorous. When you need representation before a taxing authority, you should choose a firm with a sterling reputation for integrity, excellence, and experience.
SGC will bring a depth of experience to bear when representing your organization before a taxing authority. Our comprehensive services include:
Strategic Tax Planning
Whatever products or services your organization provides, strategic tax planning is a crucial aspect of your operational plan if you hope to grow your business. Progressive organizations need to stay true to their visions and that requires constantly reevaluating of business practices and profitability models. You may well think about next week but you also think about the months and years ahead.Your business tax accountant needs to maintain the same perspective.
To meet ever-changing tax and compliance regulations, you need to take a year-round approach and not get caught with your guard down and tossing massive hours at the invariable problems that arise every time peak tax season rolls around.
It means implementing a strategic tax and compliance plan that allows you to leverage tax law to maximize profits while freeing your business to concentrate on what it does best— serving its customers.
SGC recognizes that our clients require more from their business tax accountant than ever before. A key way that commitment manifests itself is in the form of short and long-range strategic planning. Look to SGC for:
Sales/Use Tax Consulting
Small and medium-sized businesses have not reached critical mass where they can afford a full time sales and utilization of tax experts. Large businesses may find they need to augment the skill set of their existing staff or just add more horsepower to their department. Either way, SGC’s experts are available whenever you need them so you can leverage their years of experience in delivering customized, timely and expert sales and use tax advice.
Every business will find themselves needing to handle an issue that is new to them, but part of SGC core service offering include Nexus Determination, Audit Defense & Support, Product/Service Taxability, and Amnesty/VDA advice. Whether it is updating your current sales tax strategy or creating a new business strategy, SGC can assist with the latest information and advice.
Some businesses may require a unique set of advice that doesn’t neatly fit in one of the above service lines. For example, due diligence related to a merger or acquisition, compliance process reviews, loan staff to handle specific sales tax or reconciliation issues or start-up advice related to a new business or the launch of a new product line.
State Tax Nexus Consulting
As the scramble for tax revenue becomes more aggressive, even smaller companies with operations or customers outside their headquarters state may find themselves hit with an out-of-state tax bill. Unknown or undiscovered income-tax liabilities in other states could be significant and perhaps even financially crippling.
SGC can provide your company with a state income tax “nexus study” designed to determine whether you have unreported income tax liabilities in jurisdictions in which your company operates. The primary purpose is to identify income tax exposure. The primary benefit is to recognize risk and mitigate exposure.
A nexus study lets you calculate income tax exposure in each state and make informed tax filing decisions, as well as assisting you in determining what amount of tax liability to record on your financial statements. This knowledge enables you to limit tax exposure by filing appropriate tax returns, entering into disclosure agreements with applicable states or restructuring your operations to limit or prevent future exposure.
Our team will help you identify states with possible tax exposure, identify the activities that are creating nexus and perform a quantitative analysis of the exposure, including applicable taxes, penalties and interest. We’ll utilize our knowledge and contacts to determine eligibility for amnesty or voluntary disclosure programs to limit penalties, if necessary, and we’ll make organizational or operational recommendations to limit future exposure.
Changes in the tax environment may result in opportunities for you. SGC keeps abreast of these changes to provide you with tax counsel that may minimize tax payments. Planning is the foundation of our work. You can rely on us for creative and objective planning and guidance, along with the hands-on attention. We can assist when a special situation arises, particularly those that affect your current and long-term financial picture. Turn to us for help with:
• Income tax projections and year-end tax planning
• Multi-year tax projections
• Timing of income and deductions
• Minimizing the impact of alternative minimum tax
• Tax strategies related to your investment planning and capital gains
• Family-owned or closely held business succession planning
• Timing of income and deductions
• Education funding
• Retirement planning
• Estate and gift tax planning
• Charitable giving planning
• IRS and state controversy representation
• Residency issues
• Federal and state tax return preparation
Corporate Tax Services
SGC handles all aspects of tax compliance and planning for privately held companies, including closely held corporations, S Corporations and Limited Liability Companies. SGC works directly with client management to develop tax planning strategies to minimize their corporate federal tax liabilities. In conjunction with other tax advisory groups, we also provides a variety of tax advisory and compliance services to corporations operating in multiple states, local and foreign jurisdictions.
Accounting for Income Taxes (ASC 740 – formerly FAS 109)
SGC’s accounting for Income Tax Services Group offers comprehensive tax and accounting services and advice that helps companies successfully implement the rules and regulations associated with ASC 740 and ASC 740-10. In this ever-changing financial environment, it is imperative that companies dedicate the resources required to accounting for income taxes in order to meet the higher standards required by the Sarbanes-Oxley Act of 2002 (“SOX”) and other financial regulations.
SGC’s dedicated team understands the intricacies and challenges associated with ASC 740 and ASC 740-10. Whether public or private, large or small, SGC professionals have extensive experience working with companies and their external services providers ensuring a successful and efficient implementation of Accounting for Income Taxes. SGC’s Accounting for Income Taxes Services include the following:
- Assistance with implementation and ongoing compliance associated with Accounting for Income Taxes
- Assistance with/preparation of current and deferred tax calculations
- Assistance with/preparation of financial statement footnotes and related income tax disclosures (quarterly and annual)
- Assistance with SOX compliance with regards to the income tax process
State and Local Tax Services
SGC offers innovative and value-driven income/franchise tax planning strategies for all entities, whether they are conducting business in one, several or all fifty states. This includes individual tax clients who have Forms K-1 from pass-through entities operating in several states, as well as corporations that have operations that require a multi-state presence. By implementing one, or a combination, of our tax reduction strategies, SGC assists its clients significantly by reducing their effective state tax rate and increasing their earnings. We assist our clients in understanding the ever-changing state income and franchise tax law landscape while recommending optimal tax and business alternatives.
Representation Before Tax Authorities
No organization looks forward to the prospect of appearing before a tax authority; however, audits and investigations are a fact of business life— even for those taxpayers who consistently maintain best practices across their enterprise.
SGC understands that in today’s contentious environment, the requirements you and your business tax accountant must meet have never been more rigorous. When you need representation before a taxing authority, you should choose a firm with a sterling reputation for integrity, excellence, and experience.
SGC will bring a depth of experience to bear when representing your organization before a taxing authority. Our comprehensive services include:
- Representation before Federal, state, and local government authorities in all tax and compliance areas
- Strategic guidance in preparing for Federal, state, and local audits
- Proactive evaluation and identification of areas of audit exposure
- Settlement negotiations
- Theoretical queries about audit exposure areas that do not identify the individual client
Strategic Tax Planning
Whatever products or services your organization provides, strategic tax planning is a crucial aspect of your operational plan if you hope to grow your business. Progressive organizations need to stay true to their visions and that requires constantly reevaluating of business practices and profitability models. You may well think about next week but you also think about the months and years ahead.Your business tax accountant needs to maintain the same perspective.
To meet ever-changing tax and compliance regulations, you need to take a year-round approach and not get caught with your guard down and tossing massive hours at the invariable problems that arise every time peak tax season rolls around.
It means implementing a strategic tax and compliance plan that allows you to leverage tax law to maximize profits while freeing your business to concentrate on what it does best— serving its customers.
SGC recognizes that our clients require more from their business tax accountant than ever before. A key way that commitment manifests itself is in the form of short and long-range strategic planning. Look to SGC for:
- Focused, year-round strategic tax and compliance planning preparation
- Tax alerts to keep you abreast of changes before they affect your organization
- Transaction consulting that anticipates opportunities and risks associated with new business ventures—mergers and acquisitions, sales, internal expansions, etc.
Sales/Use Tax Consulting
Small and medium-sized businesses have not reached critical mass where they can afford a full time sales and utilization of tax experts. Large businesses may find they need to augment the skill set of their existing staff or just add more horsepower to their department. Either way, SGC’s experts are available whenever you need them so you can leverage their years of experience in delivering customized, timely and expert sales and use tax advice.
Every business will find themselves needing to handle an issue that is new to them, but part of SGC core service offering include Nexus Determination, Audit Defense & Support, Product/Service Taxability, and Amnesty/VDA advice. Whether it is updating your current sales tax strategy or creating a new business strategy, SGC can assist with the latest information and advice.
Some businesses may require a unique set of advice that doesn’t neatly fit in one of the above service lines. For example, due diligence related to a merger or acquisition, compliance process reviews, loan staff to handle specific sales tax or reconciliation issues or start-up advice related to a new business or the launch of a new product line.
State Tax Nexus Consulting
As the scramble for tax revenue becomes more aggressive, even smaller companies with operations or customers outside their headquarters state may find themselves hit with an out-of-state tax bill. Unknown or undiscovered income-tax liabilities in other states could be significant and perhaps even financially crippling.
SGC can provide your company with a state income tax “nexus study” designed to determine whether you have unreported income tax liabilities in jurisdictions in which your company operates. The primary purpose is to identify income tax exposure. The primary benefit is to recognize risk and mitigate exposure.
A nexus study lets you calculate income tax exposure in each state and make informed tax filing decisions, as well as assisting you in determining what amount of tax liability to record on your financial statements. This knowledge enables you to limit tax exposure by filing appropriate tax returns, entering into disclosure agreements with applicable states or restructuring your operations to limit or prevent future exposure.
Our team will help you identify states with possible tax exposure, identify the activities that are creating nexus and perform a quantitative analysis of the exposure, including applicable taxes, penalties and interest. We’ll utilize our knowledge and contacts to determine eligibility for amnesty or voluntary disclosure programs to limit penalties, if necessary, and we’ll make organizational or operational recommendations to limit future exposure.