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Tax Advisory Services
BlumShapiro's tax practice has grown to be one of the largest in Connecticut and currently comprises
nine partners and over 40 managers, senior accountants and staff. The size of our tax practice is significant because it gives us the ability to specialize in numerous areas of tax so we can provide a broad spectrum of focused expertise to our clients.
BlumShapiro is committed to helping you realize savings through effective tax planning. We emphasize ongoing tax planning, timely communication and working with you to create a team approach to maximize savings. Frequent communication with your management team and hands-on partner involvement is critical to our ability to be proactive with advice and innovative, timely ideas. We will schedule several tax planning meetings during the year to ensure that you are able to capitalize on any tax-savings opportunities and will be available for consultation on tax issues as they arise. Some of our tax services and resources include:
FAS 109
We will work with you on deferred tax calculations to meet the requirements of FAS 109.
Tax Planning and Projections
Tax "surprises" can be minimized by proper planning and projections to minimize the tax burden and properly plan cash flow.
- Federal Tax Planning - We are at the forefront in identifying emerging issues and, more importantly, formulating solutions. Our clients are kept up-to-date on the latest regulatory and legislative developments, Internal Revenue Service rulings and other critical tax issues.
- State and Local Taxes - BlumShapiro's state and local tax professionals provide consultation on all state and local tax matters, including income and franchise, sales and use, property, unemployment, transfer and net worth. These specialists perform a variety of reviews, including multistate operational or structural analysis, transaction reviews, compliance reviews, systems reviews and merger and acquisition consultation.
- Nexus Consulting - We can assist with understanding when and where a company is required to collect taxes, file a return and pay taxes to state and local jurisdictions.
Tax Return Preparation
We will prepare or review federal and state income tax returns in a timely fashion.
Audit and Appeals Defense
Our tax professionals will represent a company before federal, state or local taxing authorities in the capacity of a taxpayer advocate.
Real Estate Cost Segregation Services
Real estate acquisition and building improvement costs can be significant for any business owner. Using an engineering-based cost segregation analysis, we are able to identify shorter-lived assets qualifying for five- to fifteen-year write-off periods that had normally been depreciated over 39 years. Our cost segregation professionals have developed proven methodologies, which can accelerate income tax depreciation deductions and increase cash flow.
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