Tax Planning & Minimization

Careful corporate tax planning is critical to reducing tax liability, increasing cash flow, and controlling risk in any organization. GTM’s experienced professionals provide our clients with reliable strategies to manage and mitigate the complexities facing their tax departments. Our value-added tax planning services maximize cash flows and minimize risks for organizations operating in federal, state, and international environments.

Mergers & Acquisitions

GTM works with you to identify tax opportunities and understand tax consequences associated with business transactions that are being considered.
We help with:

  • Structuring and restructuring
  • Tax due diligence
  • IRC §382 & 383 studies
  • Earnings & Profits (E&P) studies
  • Transaction cost analysis

International Tax Planning

Whether your company is just beginning to expand overseas or has mature international operations, GTM can help manage, support, or outsource your international tax planning needs. Our experienced team possesses deep technical knowledge and extensive business acumen to deliver practical, business-driven international tax planning recommendations. Read More

Audit & Appeal Support

If controversies arise, GTM’s extensive audit and tax appeal experience brings you guidance and support throughout the entire dispute resolution process – from opening conference, to fieldwork review, to assessment review or appeal preparation.

R&D Credit Studies

Research and development expenditures can be a significant component of your business expenses. These could be eligible for credits to help offset cost impacts. Our experienced professionals help you maximize the federal and state tax benefits associated with your qualified research and development activities.

Fixed Asset Accounting

The task of properly accounting for fixed assets and maintaining depreciation systems is often overwhelming and not given the appropriate level of attention needed. GTM is uniquely positioned to provide a full suite of fixed asset accounting services for both book and tax depreciation. Our fixed asset professionals help remediate and improve your current system, offer advice on best practices, and assist with the selection and implementation of a fixed asset solution for your organization. Read More

Additional Planning & Minimization Services

  • Accounting method changes
  • Cost segregation studies
  • Repairs and maintenance expenditures
  • Percentage depletion deduction maximization
  • Section 199 DPAD benefit maximization
  • State income/franchise tax return review
  • State nexus studies
  • Apportionment/state effective rate review

Accounting methods include not only your overall method of accounting, such as the “cash” or “accrual” methods, but also the accounting treatment you choose as to any material item reported on your tax return. If at a later point in time you wish to change an accounting method, you must obtain approval from the Internal Revenue Service through filing Form 3115. GTM helps you determine whether it is necessary to file Form 3115 and, if so, provide assistance to ensure proper completion of Form 3115. In addition, for situations in which more than one method of accounting is permissible, GTM’s professionals have experience analyzing whether it would be beneficial to adopt or change a method of accounting.

If you are opening a new facility or expanding an existing facility, your business could potentially benefit from a cost segregation study.  In general, a much greater period of time is required for taxpayers to deduct costs associated with a building than is required to deduct costs associated with machinery and equipment and other personal property. In today’s technologically advanced business environment, buildings are often uniquely designed to house machinery and facilitate manufacturing processes and other business operations, thereby blurring the features distinguishing a “building” from machinery and equipment. In addition, no depreciation deduction is permitted for “land” whereas taxpayers are permitted a depreciation deduction relative to certain “land improvements.” Separating “personal property” from “building components” and non-deductible “land” from depreciable “land improvements” is often challenging for taxpayers.

Cost segregation studies allow our clients to accurately claim the maximum allowable depreciation deduction related to a new or improved facility, thereby allowing them to benefit from the time value of money and mitigate future headaches associated with audits. Our professionals work hard to ensure that you are obtaining the optimum tax benefit from costs associated with your fixed assets.

Ordinary and necessary repair and maintenance expenditures incurred to keep your machinery and equipment operational can often be deducted entirely in the year incurred, provided certain requirements are met. Rather than depreciating qualified repair and maintenance costs over a period of several years, our professionals will help you identify all repair and maintenance expenditures deductibles in the current year.

If your business is involved in mineral mining, drilling for petroleum or natural gas, or another similar activity, you could benefit from our percentage depletion deduction maximization services. Internal Revenue Code Sections, Treasury Regulations, Revenue Rulings, and court cases set forth detailed parameters pursuant to which eligible taxpayers compute their depletion deduction. Over many years, and through numerous prior engagements, GTM professionals developed a sophisticated algorithm geared toward maximizing our clients’ percentage depletion deduction. Additionally, our professionals possess a thorough understanding of the complex regulatory web applicable to the depletion computation, and have a wide breadth of experience in this area.

If you are eligible for the percentage depletion deduction and are currently claiming the deduction, but wish to verify that you are obtaining the maximum benefit permissible under the applicable guidelines, we can help you. It has been our experience that in many instances, clients are not recognizing the full benefit to which they are entitled under the applicable tax rules. Alternatively, if you believe that you are potentially eligible to claim the percentage depletion deduction, and would like assistance, GTM’s dedicated professionals are ready to assist you.

OTHER SERVICES


Indirect Tax

Our experienced SALT professionals provide the technical capabilities to mitigate effective tax rates, navigate each state’s unique tax regulations, minimize liabilities, manage audits/reduce assessments, and reduce the cost of compliance.

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Tax Provision

Looking for technology services, planning ideas, interim resources, or assistance with special projects? We provide solutions that address specific departmental needs to enhance your day-to-day core operations.

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Income Tax Compliance

Need additional tax technical support to help perform core tax department functions on a recurring basis? Our team works in partnership with your team, fully aligning with your people, process, technology, culture, and business operations.

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Tax Automation

Don’t have dedicated tax resources to manage tax department functions and operations? GTM provides the necessary tools, know-how, and resources required to effectively perform any aspect of your tax function.

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Related Article

PA Conversion Statute Could Spur Reorganizations

Pennsylvania recently enacted a conversion statute that facilitates the change in the form of legal entities in an easier and more cost-effective manner. This article discusses how the conversion statute is helpful to tax planners involved in restructurings.

Read article | DOWNLOAD PDF

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