Every dollar your organization pays in taxes is a dollar that will never contribute to profitability or growth. With our deep knowledge of federal tax law, regulatory and legislative pronouncements, and tax court rulings, CohnReznick advises your business on ways to minimize tax obligations and maximize benefits in full compliance with the law.
COMPLIANCE AND PREPARATION
Your company’s tax situation is unique. CohnReznick conducts a thorough review of your business plans, current activities, and industry nuances to develop an optimal tax strategy. Our capabilities extend well beyond tax reporting and filing to include expert advice on tax deferral programs, federal tax credits, and other incentive programs. Once in place, our team works with you to proactively comply with current and evolving regulations to reduce tax burdens while fulfilling all statutory requirements.
NATIONAL TAX ADVISORY
Successful organizations balance two tax objectives — minimizing their tax burdens and reducing the risk of audit and unexpected tax liabilities. Our National Tax Advisory group works to meet both goals, delivering advice on best practices for tax-efficient accounting on income and expenses, inventory, Section 382 net operating loss (NOL) calculations, limitations, and carry-forwards. By performing repair and maintenance analyses, fixed asset studies, and earnings and profit analyses, this team identifies opportunities for your business to minimize federal tax obligations. At the same time, through a cost segregation analysis of your personal and real property, we may discover ways to defer taxes, increasing cash flow to your business.
TAX PROVISION (ASC 740, 740-10)
Compliance with financial rule ASC 740 and ASC 740-10 provisions on calculating current and deferred income tax is now required of all companies adhering to U.S. GAAP standards. CohnReznick brings in-depth knowledge of rules and requirements and a familiarity with best practices including the establishment of a robust recognition, measurement, and disclosure process to support all of your business filings.
Alerts and Webinars
Insight10 Questions: Your retirement accountsDana FriedWhat are 2022’s contribution limits? Have you considered all IRA types? Are you on top of RMDs? Read our insights and advice on these questions and more.
InsightTexas Supreme Court clarifies proper method of sourcing franchise tax receipts from servicesJohn Iannotti, Lance RothenbergRead what the Texas Supreme Court said in this case on how to properly source receipts from services while apportioning income and determining tax liabilities.
InsightNew Jersey updates guidance on tax treatment of virtual currencyLance Rothenberg, Harry GolematisTechnical Bulletin TAM-2015-1(R) covers corporation business tax, gross income tax, and sales and use tax for currencies like Bitcoin. Read more.
InsightCalifornia grants one year reprieve on tax basis capital account reportingMarietta Probst, Krista Schipp
On-demandPartnership tax concerns to think through in 2022Join CohnReznick’s National Tax Team for a high-level overview and update of new compliance developments. Members of our international, state and local, and federal tax teams will focus on the areas your company needs to watch.