Tax Services

Many businesses take a reactive stance when it comes to paying taxes. Attention to filing returns only occurs as tax deadlines approach. That’s okay – if you want to pay unnecessary tax costs and miss powerful opportunities to improve your business.

Frost takes a proactive approach to tax compliance and tax planning to minimize tax costs while increasing efficiency during every step of the process. We assist you in planning the organizational structures needed to minimize your tax burden. We research and consult with you about the best options for your company concerning federal, multi-state and local income, sales, use or property tax issues. We provide the experience and firepower required to represent you during tax examinations and controversies before federal and state authorities including the U.S. Tax Court. We offer more than federal compliance services as we can prepare your returns for filing in all 50 states and numerous local jurisdictions.

Tax issues involved in the purchase, sale, or merger of your business can be complex. But they don’t have to be complex to you – if you lean on the wealth of experience that Frost has to offer. We are your trusted advisor in these situations, as well as in the formation of joint ventures for strategic business alliances.

Frost tax clients can access their records directly via: Link to Client Portal.

With the continuous decrease in federal assistance over the years, states have been forced to provide their own sources of revenue in order to balance their budgets. Some have done this by increasing taxes. Others have eliminated previously deductible items or tax credits. A couple of methods the states have chosen are stricter enforcement of sales and use tax laws, as well as nexus and state income allocation audits. In recent years, we have seen an increased number of audits by the states in these areas. In some cases, these audits can result in interest and penalties equal to 100% of the tax liability.

The Frost team can help you with planning opportunities and tax saving strategies unique to your industry.

Tax

For clients that have operations outside of the U.S., our focus is global tax minimization for international business. We construct a tax plan considering the way an organization does business, from mobile income strategies, to basics of tax treaties, to transfer pricing, to export tax incentives. And through our independent membership with BDO Alliance USA, our reach extends to experts for local advice in just about every country throughout the globe.
Our international tax services include:

  • Planning with regards to the repatriation of profits, and determining the most tax efficient way of doing so.
  • Calculating available foreign tax credits, and maximizing the utilization of unused credits.
  • Advising on the US rules regarding Controlled Foreign Corporations, subpart F income, Passive Foreign Investment Companies and similar rules for flow-through entities.
  • Complying with applicable US reporting requirements.
  • Representing multinational clients before IRS and state and local taxing jurisdictions in tax audits.
  • Performing transfer pricing studies and transfer pricing analyses in order to comply with U.S. or foreign tax requirements.

Tax

We help you find your hidden wealth by combining the science of engineering with the art of interpreting tax law. By reclassifying costs buried in building assets, we can help you achieve substantial cash flow benefits in the form of immediate tax relief. Tax savings opportunities may be present in new and existing commercial or multi-family buildings, expansions and renovations, leasehold improvements and acquisitions placed in service since 1986.

By applying a proven methodology that incorporates more than 200 IRS court cases, rulings, and procedures, we can segregate and reclassify up to 50% of your building costs into personal property items that have much shorter depreciable lives than the 39-year life currently assigned to non-residential real property.

On average, for every $100,000 of 39-year property reclassified to 7-year property, the present value of the net cash flow associated with the acceleration of depreciation is approximately $20,000. Because the IRS has procedures in place for taxpayers that have claimed less than the allowable depreciation in prior years to claim deductions prospectively over a four-year period, your company may realize a cash flow windfall of tax benefits.

Our Cost Segregation Services bring a higher level of efficiency to cost segregation studies involving animal agriculture and food processing clients because of the firm’s deep level of experience in those industries. We can often classify and group equipment used in these industries more efficiently than the clients who are using the equipment. In addition to the immediate cash flow benefit, our Cost Segregation team can help you realize permanent savings, state and local tax reductions, tax credits or incentives, and detailed asset listing, allowing you to write off structural components as they are replaced.

Tax

Frost takes a proactive approach to tax compliance and tax planning to minimize tax costs while increasing efficiency during every step of the process. We assist you in planning the organizational structures needed to minimize your tax burden. We research and consult with you about the best options for your company concerning federal, multi-state and local income, sales, use or property tax issues. We provide the experience and firepower required to represent you during tax examinations and controversies before federal and state authorities including the U.S. Tax Court. We offer more than federal compliance services as we can prepare your returns for filing in all 50 states and numerous local jurisdictions.

Tax

Qualified Retirement Plans provide tremendous tax advantages for business owners and employees. A well designed retirement plan can help you attract and retain the best employees at a cost that’s affordable. At the same time, they are complex and must comply with ever-changing laws and regulations to maintain its qualified tax status. Therefore, it is essential to have the assistance of an experienced, trustworthy, independent Third Party Administrator to assist in the administration.

Frost has a reputation for having the highest level of integrity and superior service. We are committed to providing the most comprehensive array of cost effective retirement plan design, installation, compliance and administration services. With more than 45 years combined experience, our team of Pension Specialists provides the expertise you need.

For detail on the services we provide, click here to download our brochure. We offer a free initial consultation and invite you to contact us with any questions you might have.

Contact:

Phillip French, CPA

Direct Line: 501-975-0261
E-mail: pfrench@frostpllc.com


Tax

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