Excellence in an industry often begins with how those closest to the company—its clients and employees—feel about it.
Dealing with and preparing your taxes is an unavoidable task in life no matter the size of your company or individual with complex tax needs. In this fast-paced, ever-changing business environment, the last thing you want to worry about is your responsibility of filing your taxes. Income tax preparation can seem like a burden but in reality, is a necessity. If properly planned for and managed, the process can be handled in a very positive way through KatzAbosch’s diverse tax service offerings. One of the best ways to manage tax issues is to plan for them. At KatzAbosch, our tax approach begins with a thorough understanding of the many complexities that affect your tax situation. And, as the laws continue to change, we stay informed and updated, bringing you the most accurate, informed guidance and strategy.
What sets us apart from others is our focus on education. Your tax obligation should never be unexpected. We teach clients what to look for from a tax perspective. We’re here throughout the year – not just at tax season – to help clients grow their business and surpass their goals.
Business Tax Planning and Preparation
Thorough tax planning is the most effective way to limit the negative impact of taxes in your organization. If something has been properly accounted for in advance, it is unlikely to pose much of a problem or become a burden when the time comes.
You can always benefit from assistance from a professional financial advisor during tax planning, no matter the nature of your business. Good tax planning will allow you to maximize your liquid assets and provide freedom to cover costs. It also helps to ensure that valuable opportunities aren’t lost due to preventable negative cash flow. KatzAbosch can provide tax planning whether you are a profit-motivated or not-for-profit entity to determine the best business tax strategies for your company.
High Net Worth Tax Planning
Thorough tax planning, whether for you or your business, is the most effective way to limit the negative impact of taxes in your life. If something has been properly accounted for in advance, it is unlikely to pose much of a problem or become a burden when the time comes.
For high net worth individuals, we recommend creating a separate business entity for certain investments. When deciding when to invest, it’s essential to consider all aspects before doing so. This could include additional tax compliance reporting, the type of income that will be generated whether passive versus non-passive or self-employment versus investment, and estate planning implications.
Estate & Trust
The administration of an estate can be an overwhelming and time-consuming task. The process involves not only locating and distributing assets among heirs but also preparing various reports on your tax refund and returns. KatzAbosch’s Estate Administration group has the technical expertise to lead you through the choppiest waters and steer clear of potential difficulties.
KatzAbosch will help assist you in estate planning to achieve your goals while minimizing your taxes. We will provide you with cost savings and practical advice.
IRS Audit Representation
The event of a tax audit for your company or individual finances should not be cause for alarm or a reason for all other projects to be placed on the back burner. We will handle the entire process from beginning to end and do it in such a way that any interruption to your business or regular life is kept to a minimum. IRS, state, and local examinations are provided with any questions you may have.
When doing business across borders, or competing in several jurisdictions, complying with local tax laws, reporting requirements and statutory filings can become a full-time job in itself. In addition to compliance in our world of increasing global competition, the key to success is keeping your tax strategy responsive and aligned with your total business strategy – while keeping an eye on your international effective tax rate.
State and Local Tax (SALT)
State tax authorities have become very aggressive and are increasing their audit frequency. In addition, state legislators are implementing new statutes designed to close perceived “loopholes” and enhance state tax revenues. From tax planning to compliance, the KatzAbosch SALT team helps businesses identify their potential risks and take advantage of state tax opportunities based on this changing tax landscape.
The KatzAbosch SALT team closely monitors all state tax law changes so we can help our clients with their tax compliance burden and find ways to minimize their SALT liabilities. We understand state tax law and can help your business through the SALT jungle with the following value-added services.
Our professional tax consultants provide strategic planning services in a complicated tax environment. We take a proactive approach with our clients by being knowledgeable about their business and using all means necessary to deliver tax-saving opportunities.