Strategic tax planning can create fewer headaches and generate more savings.
Your individual and business net incomes are directly impacted by how you manage and plan for tax savings. Understanding how your revenues, costs and asset investments can impact your tax liability is important to maximizing your after-tax return. As your business grows across state or international borders, tax reporting issues demand more of your attention.
You may be questioning:
- How can I best manage the complexity of my individual and/or business tax situation?
- What is the appropriate entity type for my business?
- How can I pay less in taxes?
- Am I in compliance with all the tax rules and reporting requirements?
- Am I taking advantage of available credits and deductions?
Why You Need a Tax Consultant
Even if the complicated nature of taxes doesn't intimidate you, the amount of time needed to figure out your best course of action can be exhausting. Taking advantage of specialized knowledge and experience to help answer your tax questions can mean the difference between merely finding an answer and finding the solution that works best for you.
By hiring a tax professional, you can keep your focus on your business goals and objectives rather than on tax issues.
Why Choose Eide Bailly
Eide Bailly’s goal is to help you minimize your tax liability. Our people are active in the development and review of tax legislation and work with you through industry and professional groups to advocate for your needs.
With dedicated professionals who spend every day solving tax issues in a variety of industries, Eide Bailly brings a deep well of knowledge and resources to any tax situation or question. We’ll work closely with you to understand your business and your goals, so you not only find answers, but you also find the best path for your unique circumstances.
Our specialists have helped many businesses just like yours file for and receive tax credits and deductions, interpret ever-changing tax rules, provide guidance on ruling requests and change of accounting method applications, research specific tax situations and make sense of transaction plans and reporting requirements. We take a personal approach to service and work side by side with you throughout the entire filing process to ensure you receive the maximum benefit you deserve.
Regardless of what situation you’re facing, we’ve got you covered. From federal, state and local income tax to sales and use, payroll or excise taxation, our team of tax professionals knows what it takes to create a strategic tax plan with more savings and fewer headaches.
What Our Clients Say
I think what it means to me is the teamwork in Eide Bailly is unsurpassed. Having each of the functions — the tax preparation, the estate planning, the ESOP and the wealth management and be able to talk to those folks and all be on the same page. It's a terrific value."
What We Offer
Tax Research
Tax laws are constantly changing and evolving. Knowing how the rules and regulations impact your business is the first step to being able to make informed decisions. It’s important to understand the ins and outs of tax law so you can stay in compliance. A knowledgeable tax professional can help you with tax research by providing an overview and explanation of the tax rules, as well as insight on how it all applies to your unique business situation and what steps you can take to remain in compliance and achieve a tax-efficient outcome.
Tax Planning & Return Preparation
Understanding the tax implications of entity selection and organizational structure, strategies for deferring income or accelerating deductions for tax reporting purposes, and the management of nexus and state reporting requirements can help save you time and money.
We provide you with timely and accurate planning and return preparation of federal and state tax returns. More importantly, we provide strategies and opportunities to minimize your federal and state tax burdens.
Tax Credits & Deductions Consulting
The government creates tax credits and deductions to help businesses just like yours operate better and more efficiently. Often, the problem is knowing if you qualify and how to apply for those credits and deductions—or even knowing that they exist at all. Eide Bailly can help sift through the red tape and help you take advantage of these tax-saving opportunities.
Accounting Methods and Periods
Most taxpayers don't understand the importance of determining when and how to report their income and expenses for tax purposes. Reporting income and expenses in the proper period can generate valuable cash savings and avoid potential conflict with the IRS. In many cases, tax accounting rules differ from traditional financial accounting rules, which can result in unexpected sources of opportunity and risk for taxpayers.
Accounting method professionals can help you understand the complex tax rules surrounding revenue and expense recognition, inventory accounting and capitalization and cost recovery of tangible and intangible assets. If you have income and expenses, you can potentially benefit from a review of your tax accounting methods.
Capital Expenditures
Your business likely has purchased, acquired or is charged with maintaining fixed assets such as land, buildings and equipment. Accounting for the costs associated with these assets can be tricky and confusing. Adding to the complexity of these decisions are all the deductions and beneficial programs you are supposed to know about, with catchy names like bonus depreciation, Section 179, depreciation recovery periods, repair regulations, etc.
Working with professionals who understand the capital expenditure rules can help you take advantage of the deductions available to your business and provide you with advice to make sound business decisions.
M&A Tax Considerations
Restructuring, merging, selling and/or acquiring another business is a complicated process with obstacles to overcome and considerations to save both time and money—not to mention emotional capital. Knowing if your transaction is taxable or tax-free, and if it's a sale of assets or stock sale, can help ensure tax compliance and tax reporting requirements associated with the transaction.
Reviewing purchase agreements, SEC filings, board minutes, organizational charts, cap tables and other professional advisor opinions can be overwhelming and confusing. Our team maintains a working knowledge of M&A rules, as well as transaction reporting requirements so we can help you create a transaction plan to meet your goals.
Why Choose Eide Bailly?
- Experience across various entity types and tax situations
- Active in the review of tax legislation
- Advisors with access to tax knowledge through a top ranked National Tax Office
- Top 25 CPA firm
- Multi-industry expertise
Tax News & Views Blog
Our blog will help you stay informed with what's happening in the tax world. We will cover tax issues impacting all types of organizations and the people behind them, from middle-market, closely held businesses to nonprofits and government entities. View our latest blog posts below or subscribe to stay informed.
Featured Insights
Inspired Perspectives 2023
Interested in learning more about growth and success, compliance issues, the year ahead and more? Join us for one or all of our educational/informational webinars designed to keep our clients, colleagues and friends informed on innovative business and tax strategies. The tools and resources presented will help individuals and organizations make informed decisions and remain successful in a competitive and ever-changing marketplace.
Answers to your complex tax questions are right at your fingertips.
Let’s get started.