At Smith, Kesler & Company, P.A., we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients excellent service. Tax partner and specialist involvement ensure that our clients receive the most experienced technical expertise.
We offer the following tax services:
Federal and State Tax Services
Tax Return Compliance
Preparation of federal and state tax returns is the core of our tax services. High levels of construction industry-specific expertise allow our tax professionals to ensure our client’s tax returns are prepared efficiently and timely.
Credits and Calculations
Because we stay apprised of the annual changes in the tax laws and any interim legislation that also may have an impact, we can help your business determine if it is eligible to claim certain federal and state credits, assist with the documentation requirements, and quantify the tax credit amount.
Amended Returns and Prior-year Filing
In many cases, it can be advantageous to review prior-year returns and file amended returns if it would result in substantial savings. If you are behind or missed the filing of a previous year’s return, we can prepare and file these, and help you manage expectations regarding any liabilities involved.
Transactional Structuring
We help businesses structure economic transactions in ways that minimize the tax impact by advising them on affiliated entities, acquisitions, sales, and mergers.
Accounting Method Reviews
We review businesses’ tax accounting methodologies for proper accounting and accounting method strategies to maximize income tax benefits.
Audit & Appeal Representation
We possess the expertise and experience to represent taxpayers before tax authorities. Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain the most favorable results.
State and Local Tax Specific Services
Nexus Consulting and State Tax Liability Analysis
We can help you understand and navigate where your business is required to file and pay state and local taxes based on multistate activities. Additionally, we will recommend where to file and quantify potential tax liabilities associated with various state and local jurisdictions.
Tax Planning Services
Income Tax Planning
We aid businesses with all aspects of federal income tax planning. This includes implementing federal income tax strategies that maximize savings, increase profits and manage cash flows.
- Future year projections and estimates
- Income tax
- Franchise tax
- Sales and use tax
Business Succession Tax Planning
You spent your life building your business, and now you want to pass it on to the next generation or sell the value you built. We advise businesses on the proper succession planning to preserve their family and business legacy while also looking out for potential tax consequences that may result.
Other Tax Services
Accounting for Income Taxes
Financial accounting for income taxes can be complex. Our professionals have the technical skills and experience to help our clients navigate these complex requirements and create efficient income tax accounting and reporting. We also help companies stay up-to-date with regulatory guidance and disclosure requirements. The services we offer allow our clients to minimize year-end surprises and reduce risk related to reporting. These services include:
- Calculation of tax provisions
- Account for uncertain tax positions
- Analyze current and deferred taxes
- Prepare financial statement footnote disclosures
Tax Updates
We keep our clients up-to-date on the latest federal and state tax issues through webinars, newsletters, website postings, and face-face meetings. By staying ahead of tax issues, we can communicate how they will impact your operations quickly and address them promptly.
Individual Tax Services
When it comes to individual taxes, change provides opportunity. We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities. You can depend on us for objective guidance and personal attention. We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.
Estate and Trust Tax Services
Estate planning is crucial to minimize taxes and distribute as much as possible to your preferred beneficiaries. If you have not considered what will happen to your hard-earned assets as you age and eventually pass on, you should. Without an estate plan, the wealth you worked your entire life to build will be distributed according to state law and not according to your wishes.
We will work with you to design an estate plan customized to your particular needs by utilizing a variety of planning vehicles, such as limited family partnerships, trusts, and charitable entities. Our team can assist you by performing the following:
- Review wills and trust instruments.
- Estimate estate taxes and strategize alternatives that may provide tax savings.
- Review business issues, including valuation and the transfer and/or disposition of business interests.
- Identify potential liquidity problems caused by federal and state estate taxes for the continued operation of the family business, probate, administration costs, etc.
- Develop a lifetime gifting program using vehicles such as family limited partnerships, charitable trusts, and qualified personal residence trusts
- Prepare estate, gift, fiduciary, and non-profit tax returns
- Advise you on the possible use of various trust structures, including charitable remainder trusts, grantor annuity trusts, personal residence trusts, family partnerships, credit shelter trusts, marital deduction trusts, and revocable lifetime trusts.
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