The Large & Gilbert tax practice provides clients with a complete range of tax services, incorporating sound, reflective business and financial advice. Our practice has three areas of focus:
- Consulting – Planning for future events
- Controversy – Dealing with government tax agencies
- Compliance – Tax return preparation and special concerns
Our tax consulting services include planning for:
- Entity selection
- Minimization of current tax liability
- Financial transactions
- Next year’s tax liability and transactions
- Estimated tax payments
- Tax law changes
- Business valuations
- Business succession
- Long-term concerns
- Retirement
- Estate and gift issues
- The unexpected
We view tax consulting as the “prospective” aspect of our tax practice. We automatically combine the preparation of your annual tax returns with inquiries, observations, and suggestions about items that emerge during the preparation process. Most clients call on us during the year to review specific issues or concerns, and we typically provide a projection of the next year’s tax in the latter part of each year. Over time, we find that the relationship and file information developed while doing your annual tax return provides an information resource much like a patient’s medical history – thus giving us a sound basis for rendering accurate and reliable advice. We are committed to being proactive about your tax concerns!
Our tax controversy services may involve:
- Handling tax audits
- Notices and assessments
- Appealing the findings of a tax auditor
- Dealing with collection efforts by the government
In the course of any business’s lifespan, issues sometimes arise with federal or state tax authorities. Yet the bureaucracy of most agencies can be almost impossible to deal with… if you don’t know the unwritten rules. For example, did you know that the great majority of notices requesting additional tax payment are wrong? Or that most of the adjustments proposed by tax auditors are eventually found to be unwarranted? Our controversy practice is focused on jealously guarding your rights and literally doing battle when needed (with words and numbers, not swords!) against the tax auditor — or the mindless computer — that threatens your property and your peace of mind.
Our tax compliance practice includes:
- Annual income tax return preparation
- Payroll and other miscellaneous tax returns
- Risk assessment of tax return positions
- Advocacy role
- Confidence in quality of returns filed
- Resolution of technical issues
- Assessment of aggressive tax return positions
- Amended returns
The compliance aspect of tax practice deals with the historical point of view – that is, events that have already occurred. Preparation and filing of annual income tax returns is central to tax compliance – but with the many tax law changes, this task has become much more involved and time-consuming. We will work with you and your staff to make tax return preparation as painless as possible. Our standard procedure is to review the prior three years’ returns and make amendments as necessary, because refund opportunities with amended returns are frequently discovered the first year we handle a new client.
