Federal Tax | Federal Tax Representation

Maximize your federal tax benefits

In today’s competitive business environment, maximizing cash flow and containing costs are top priorities for business owners. As a taxpayer, you know that federal taxes are typically your largest tax burden, directly affecting your profit margin and net worth.

Federal Tax Planning Strategies Built Around Your Business

There are several federal tax planning strategies that can help minimize your tax burden, but they may not all work for you or your business. Sikich’s business tax consultants can help you understand not only how federal taxation impacts your business but also how proven strategies can maximize your short- and long-term tax savings.

Some of the federal tax services we offer include:

Entity Structuring

How an entity is structured has a direct impact on business success. Sikich will work with you and your other professional service providers to analyze the situation and assist you in determining which structuring options would best meet your objectives.

Tax Credits

Tax credits can provide substantial business tax benefits. Understanding what credits are available and what it takes to qualify for these credits can ease your tax burden and help improve company cash-flow.

Strategic Tax Planning

Approaching your business from a strategic mind-set can make your business stronger now and into the future. Sikich’s consultative approach and industry expertise can help position your business for long-term success.

Partnership Tax Planning

Forming a partnership can create great flexibility as well as great complexity. Understanding partnership tax law and making it work for your business situation can create huge success. Sikich’s partnership expertise can be a significant key to unlocking that success.

Cost Segregation Studies

A cost segregation study is an analysis of all costs associated with the acquisition or construction of a building or significant improvements to an existing building. The primary benefit to the business is the increase in cash flow due to the additional depreciation expense realized in the first five to fifteen years. The reduction in income taxes caused by the additional depreciation expense in the early years results in actual cash savings. Business tax consultants at Sikich can determine if you are a good Cost Segregation candidate.

IC-DISCS: A Substantial Business Tax Savings Opportunity

There are few tax incentives remaining for U.S. based companies doing business in foreign markets. Over the past few years, Congress has repealed or let lucrative incentives lapse. However, for companies that export goods to foreign markets, there is a little known tax incentive that can offer compelling benefits. The incentive known as the Interest Charged – Domestic International Sales Corporation (IC-DISC) offers qualifying companies a substantial tax savings opportunity. Our professionals have worked with dozens of companies to help them transition to this tax efficient structure.

While this structure is attractive for many companies it is important to have an analysis conducted to ensure that the new structure will deliver the benefits expected. Our professionals will conduct a review of your company to assess key factors that include entity structure, qualifying export sales, annual estimates, and related compliance costs. IC-DISCs can also be used as an estate planning vehicle as well as a structure used to incentivize key employees and owners. Leveraging this information we are able to determine not only the immediate benefits but also project bottom line value to your company for an extended period.