Federal income tax is one of the most challenging and crucial aspects of managing any company that is large or small. Federal tax complexities do not exist in a vacuum, and Thomas Huckabee, CPA helps San Diego businesses comply with today’s tax law changes, risks, and opportunities. Our CPA accounting firm has over 20 years of experience to help you address your federal tax burden, within the context of your corporate business goals, structure. and particular industry. Tax expense is a major factor in both annual and long-term performance. Compliance issues present an ongoing risk, one that for certain company’s demand a constant monitoring of the regulatory landscape.
“Clients come to us for creative strategies to address their federal income tax obligations. We work with you to identify advantageous tax strategies that will cut your tax bill while moving you closer to your business goals.” Tom Huckabee
Federal Tax is Major Determinant of Company Profitability.
Thomas Huckabee, CPA is a San Diego business tax firm dedicated to the complex and transformative terrain of all federal income tax issues. On top of this qualification, Thomas Huckabee, CPA has years of experience as one of Southern California’s premier accounting and CFO consulting agencies. From long term tax planning to short term cash flow management, to risk management strategies, Thomas Huckabee, CPA partners and provides clients with a robust and proactive strategy to attack the challenges and opportunities inherent in federal tax and all its complexities.
Thomas Huckabee, CPA works with growing small businesses and established private corporations, entrepreneurial startup endeavors…and everything in between. Our services include:
- Accounting for income taxes
- Accounting methods and periods
- Compensation and benefits
- Flow-through entity planning
- Corporate tax and transactions
- Federal Tax Compliance
- Tax Controversy
- Research and Development Tax Credit
- Compensation and Benefits
Limited Partnership Tax Solutions
Partnership businesses that are formed under Subchapter K of the Internal Revenue Code have grown rapidly over the past number of years, primarily due to their unique pass-through tax structure. At the same time, the federal, state and international rules regulating partnerships have also grown exponentially. Some of these regulations, such as the new partnership audit rules have an undeniable reputation as being some of the most complicated rules in tax. Also, the type format and volume of data that are regulation-required to reported to partners, and the related state and federal e-filing requirements, can be of particular concern. Thomas Huckabee, CPA’s deep knowledge of Subchapter K rules and limited partnership tax preparation expertise can help your organization enhance Schedule K-1s and other partner reporting and pursue time and cost savings.
Strategic Tax Review
For mid-sized companies, analyzing national tax burdens isn’t the end game. Creating competitive advantage by incorporating the tax perspective within business objectives and decisions is the goal. The tax position of your company may change quickly as both internal and external forces reshape your business. And with business changes may come potential opportunities for additional current deductions, cash savings, tax refunds or strategies for lowering federal and state tax burdens. Thomas Huckabee, CPA’s strategic tax reviews focus on understanding your organization and business, as well as your current tax positions to help you develop and implement tax planning to generate value for your corporation. Areas of focus within our strategic tax review include:
- Accounting periods and methods review: We find that there are many companies that do not use tax efficient accounting methods. These companies lose out on opportunities by not leveraging chances to enhance cash flow. We can provide a specific review of a company’s U.S. tax tax accounting methods to pursue cash flow savings from long term tax deferrals.
- Capital Expenditure Review: We can review your company’s capitalization, and depreciation policies and procedures. This review could result in significant tax savings. Thomas Huckabee, CPA can look at the potential impact of the Tangible Property Regulations and assist our clients with with implementing required changes to address opportunities, in addition to seeking cash tax savings for them.
- Depreciation Expense Outsourcing: The calculation of depreciation is a crucial part of tax compliance which can often go overlooked. Thomas Huckabee, CPA can help your business plan for and compute tax depreciation for federal, AMT, state and bonus depreciation.
- Inventory Tax Services: Inventory is the largest item on the balance sheet for many companies. However, many companies do not allocate, or simply do not have, adequate staff and resources to efficiently and accurately allocate for their inventory for tax purposes. Thomas Huckabee, CPA helps clients analyze their tax inventory methods and recommend an approach that is focused on cash flow management savings, tax compliance and technological process improvements.
Thomas Huckabee CPA delivers a holistic and coordinated approach to complex tax issues