Federal Tax

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.