Tax specialists help banks minimize tax liabilities

You will appreciate our tax minimization services and working with our team of tax professionals who fully understand the tax laws and regulations and how they affect banks. For instance, they have particular experience with the tax issues that face multiple entity structures and controlled groups. They are well versed in FAS 109 (Accounting for Income Taxes) and in dealing with IRS and state audit issues.

Own or lease property? Cost segregation can mean tax savings and increased cash flow Cost segregation can be a strategic tax-saving tool for an organization that has purchased, renovated, or constructed property in the last 15 years. Without cost segregation, building components are depreciated over 39 years. A cost segregation analysis identifies personal property that can be depreciated over a variety of shorter recovery periods utilizing accelerated depreciation methods.

Our tax professionals are committed to a timely preparation of your tax returns. In addition, because they realize every business decision has tax implications, they provide year-round tax minimization and planning services.

Minimizing taxes

Our tax specialists will review your federal, state, and local tax filing situation and seek tax minimization opportunities for your tax liabilities. Opportunities for tax minimization may include items such as accelerating expense deductions, deferral of income items, timing for charge-off deductions, treatment of nonaccrual loan interest, treatment of various accruals, state tax apportionment opportunities, and availability of tax credits.

Tax services and solutions

You can depend on our tax minimization services specialists to help find efficient solutions to the tax issues you face. They have experience in merger and acquisition transactions, employee benefit consulting, executive compensation consulting, tax accounting method changes, state and local tax planning, and various tax credit opportunities.

Examples of tax solutions our team has provided to our bank clients include:

• Cost segregation studies – applied to properties acquired or constructed, these studies usually result in the acceleration of tax depreciation deductions
• Pass-through entity taxation – cost/benefit analysis of S corporations and limited liability company tax structures
• New Markets Tax Credit – assistance in applying for a credit allocation, in entity structuring for the beneficial use of such credit allocation, and in tax compliance relating to utilization of the credit allocation
• Consultation and analysis relating to low-income housing tax credits, research and development tax credits, and energy efficient tax deductions