When you think of taxes, we bet you immediately think of tax returns! Tax returns record history, and accurate tax returns are important to report your previous year’s business operations to the IRS. We believe it is even more important to plan ahead and make sure you take advantage of opportunities within the tax laws to help you accomplish your strategic business plans. Here are some of the tax services we can provide to you.
MGI Worldwide is a network of independent auditing, accounting and consulting firms. MGI Worldwide does not provide any services and its member firms are not an international partnership. Each member firm is a separate entity and neither MGI Worldwide nor any member firm accepts responsibility for the activities, work, opinions or services of any other member firm. For more information visit www.mgiworld.com/legal.
Choosing the form of entity for your business (for example, “S” corporation, sole proprietorship, limited liability company, etc.) is a crucial decision that can have longstanding tax and liability implications, positive or negative. We can assist you in evaluating the pros and cons of each entity type based on the nature of your business and industry so you can determine the most advantageous form of business for your company.
Tax laws are constantly changing. We communicate with our clients throughout the year to review and discuss possible planning strategies. With the constant flux in tax laws, we believe it is important for you to be aware of those tax changes that may impact your business.
State and Local Tax
Most of our business clients conduct at least a portion of their business outside their home state. Requirements vary by state, and you need experienced tax professionals to help navigate these waters. We work with clients to determine and plan for tax incentives, filing requirements, income tax apportionment, business and occupation taxes, sales tax, and, in general, mitigating tax exposure in multiple state situations. Your Hellam Varon tax professional can assist you in identifying and taking advantage of available exemptions, credits, deferrals and deductions.
We operate in more of a global environment than ever before in history. International transactions have become the norm for many of our business clients. Whether you have operations overseas, are outsourcing your manufacturing to other countries, or you are exporting internationally, we can assist you with your international business and personal ventures. Foreign tax rules are complex, and there are a number of reporting rules. Treaties between the United States and foreign countries need to be analyzed to ensure proper disclosures are made and to prevent potential double taxation. There are certain specific strategies we can explore that may allow clients to reduce tax liabilities related to their international activities. Additionally, we can assist our clients in their international concerns through our active participation in MGI Worldwide, an international network of independent auditing, accounting, and consulting firms. The combination of all of these resources allow us to effectively meet all of our clients’ international needs.
Planning is an essential element of the tax process.
By making tax planning part of your overall business strategy, you can benefit from our experience and access to the most current information on the latest developments in tax laws. We are committed to helping you minimize both your current and future tax liabilities while maintaining a clear and constant focus on your operational and strategic goals.