Tax Planning & Consulting for Medical Device Companies
A good tax strategy is like money in the bank
If you are like most medical device companies you are worried about filling your pipeline with promising new products and finding a way to finance the process.
It’s understandable that with these and so many other challenges, you don’t have time to keep up with the ever-changing tax laws, but we suggest that intelligent, strategic tax planning is one way you can improve your cash flow.
Finding opportunities for savings
Our tax advisors who continually monitor changes in federal, international, state, and local tax policies and understand how they relate to the medical device industry can help you adjust your existing tax plan to take full advantage of opportunities to reduce your tax burden.
Our tax advisors can conduct a thorough review of your business activities and help you document your internal costs to comply with federal guidelines and qualify for research and development (R&D) tax credits.
For instance, they can help you determine if you are properly accounting for your new approaches to discovery and development. They can help you look at your supply chain strategy and structure to determine whether there are opportunities for tax savings or additional credits and incentives. Technology innovation, which gives you a competitive edge, can also give you tax-related opportunities.
Don’t overlook the opportunity to leverage state incentives
More and more, state governments are also offering their own tax incentives to businesses. Our tax advisors can help you determine your range of opportunities. With strategic tax reviews they can help you identify tax savings at the federal, state, local, and international levels.
They can also help you identify your overall tax exposure. If you are operating in more than one state, this can be complicated.
Compensation plans and taxes
Of particular interest to medical device companies are the tax ramifications of compensation plans. If you are using compensation plans to retain your talented innovators, our tax advisors can help you examine the complex tax issues involved for your company and the employees you are rewarding.
You can expect us to be proactive when it comes to your taxes
According to surveys conducted by an unbiased third party, 99 percent of our clients say we are proactive to their needs. You can depend on us to take a proactive approach to your business tax planning needs.