The Economic Cost of Tax Compliance

A recent study performed by The Tax Foundation has produced an approximate total cost, in time and dollars, of tax compliance in the United States. For those not familiar with The Tax Foundation, they are an independent and non-profit organization founded in 1937, whose mission is to study, improve and simplify the tax code, for …

Keep Reading

In Federal Tax Court Your Report Is Your Testimony

The level of detail and the manner of explanation in a valuation report for tax compliance purposes is extremely important as the report serves as the expert’s direct testimony in Federal Tax Court. It’s interesting to observe the important steps that families take to protect their assets – hiring top wealth management teams, tax consultants, …

Keep Reading

Board Governance = Tax Compliance?

The revised Form 990 is now old news since it came out back in 2008.  One of the significant changes to the form back then was the addition of the board governance section.  By adding that section, the IRS obviously was communicating their idea of what best practices should be followed by the Board of …

Keep Reading

Valuation Services as a Management Tool

Most of your clients come to us for business valuation services because of outside requirements. They need an appraisal for tax compliance, financial reporting, or estate and gift planning among other reasons. While these are all legitimate needs you may face, you should also want an appraisal. If you’re thinking, why do I want an …

Keep Reading