At Barker Viggato, LLP, we offer tax
planning and compliance services to clients in several different
areas, discussed in more detail below. Among the industries
we serve are Real Estate, Hospitality, Medical, Manufacturing,
Energy, and Investment Management. We help our clients achieve
tax efficiency through our comprehensive approach to client
service in the following areas:
Tax Planning
The tax law changes and grows more complex each year. At Barker Viggato,
LLP we offer tax planning services to help our clients plan for the future and
maximize the benefits they are entitled to under federal and state law. We
help deliver solutions for complex tax problems of proposed business transactions. We
are capable of assisting with a broad range of tax planning, from year-end tax
projections to large scale business mergers, and most situations in between. We
ensure that the tax planning is complimentary to the financial circumstances
of our clients and their businesses.
Tax Compliance
We routinely handle all forms of federal and state tax return
compliance for our clients, from public companies to individuals
and small businesses. We offer tax preparation and
review services for individuals, corporations, partnerships,
trusts and foundations. We also offer tax review
services for larger clients with internal tax departments
looking for a high-level skilled review of tax returns
and preparation of quarterly and annual FAS 109 tax calculations
for financial statement reporting. In addition we
provide tax compliance services to high net-worth individuals
and families.
Real Estate Transactions
At Barker Viggato, LLP a significant source of our client
work is in the real estate industry. Both of our
partners have extensive real estate experience and have
held high level positions in the real estate group of a
national accounting firm. We have the experience
to assist clients with tax matters associated with acquisition/disposition
of properties, operational tax aspects of rental real estate,
and tax analysis of leases. We also provide consultation
on deferred and reverse like-kind exchanges.
REIT Tax Advisement
Barker Viggato, LLP is the tax advisor for multiple Real
Estate Investment Trusts, both public and private. We
assist our REIT clients with asset acquisitions, UPREIT
transactions, quarterly asset and annual income testing,
return of capital computations, and FAS 109 tax calculations
for taxable REIT subsidiaries, as well as tax compliance
services. For those clients who wish to preserve
their professional relationships with their national accounting/auditing
firm, we can provide a variety of services to support their
national firm, often at a significant cost savings.
Real Estate Cost Segregations
Substantial cash flow benefit can be obtained on property
acquisitions through accelerated depreciation deductions
resulting from proper cost allocation and segregation.
Our objective is to allocate the appropriate amount of
the property cost to the five, seven and fifteen year
asset classes, thereby increasing depreciation deductions
early in the property’s depreciable life. This
provides the property owners with improved cash flow and
the time value for the use of their money. At Barker
Viggato, LLP we combine our real estate industry tax experience
with the experience of skilled property appraisers, to
produce thorough, accurate cost segregations based on the
replacement cost methodology. Cost segregations often
benefit the purchasers of medical facilities, restaurant
properties, office buildings, hotels and retail space.
Closely Held Businesses
Due to the nature of closely held businesses, successful
tax planning for the business and its owners must be synergistic. Effective
tax planning for closely held businesses is grounded on
the fundamental understanding that each tax strategy for
the business has an impact on the owner and often, the
reverse applies as well. At Barker Viggato, LLP we
have experience working with closely held businesses, both
large and small. We advise the owners on a multitude
of accounting and tax matters to achieve the synergy needed
between the business and the owners to achieve efficient
tax results.
Business Entity Selection
Are you thinking of starting a new business or adding a new
element to a pre-existing business? The choice of
entity for a new or expanding business enterprise can make
a dramatic difference on the tax implications for the business
and its owners. The proper tax analysis of available
business entity structures and the strategy for transition
is critical to maximize the tax benefits available. Our
partners have been helping clients with entity selection
and planning for years and have the experience necessary
to guide you to the proper entity structure for your businesses,
either large or small. Of course, there are legal
implications that must be considered as well, so we routinely
work with our clients’ attorneys to successfully
develop business entity structures that accomplish our
clients’ objectives.
Purchase or Sale of a Business
Often the sale of a business marks a milestone in the career
of a successful business owner worthy of a thoughtful transition
strategy. Buying or selling a business can be a challenging
undertaking for the most savvy entrepreneur and/or management
team. Terms that are in the best interest of the
seller and those that are in the best interest of the buyer
generally differ. Careful tax planning and attention
to detail is an essential element to a successful purchase
or sale. At Barker Viggato, LLP we can assist with
many facets of the purchase and sale process. For
sellers, pre-sale tax and financial planning often helps
maximize the value to be obtained from the business sale
and the profit to be retained after tax. For buyers,
a proper tax strategy and purchase price allocation can
make a significant difference in post-transaction cash
flow. Often we work closely with the client’s
attorney and appraiser/valuator to help with the analysis
and maximize the benefit for our client.
Family Limited Partnership Advisement
Family limited partnerships (“FLPs”) have become
a useful tool in advanced estate planning to achieve certain
beneficial tax and asset transfer results. However,
few accountants know how to maintain the tax accounting aspects
of the FLP to ensure that their clients achieve the desired
results. The IRS has become very strict with respect
to FLP operations and transfers. Successful FLP planning
and maintenance requires meticulous attention to detail and
experience with accounting principals, partnership tax regulations
and estate tax regulations. At Barker Viggato, LLP,
we bring that experience together to serve FLP clients with
tax compliance and planning services to ensure that the desired
results are achieved.
Estate and Gift Tax Compliance
At Barker Viggato, LLP we help clients deal with changes
in the transfer tax law by working with our clients’ estate
and gift attorneys to develop and modify estate and gift
tax plans as circumstances dictate different strategies. We
advise on the accounting matters and provide the annual
tax compliance. In addition to estate and gift tax
returns, we prepare many different types of fiduciary tax
returns, including grantor trusts, simple trusts, complex
trusts and charitable remainder trusts. With Barker
Viggato, LLP our clients take comfort knowing that their
attorney’s strategy and planning will be supplemented
with our tax compliance services to ensure the planning
objectives are realized. |
