Tax Compliance Services

Everyone thinks they pay too much tax – even multimillion-dollar corporations. Indeed, the quest to obtain all deductions allowed by law only grows more complex and involved the larger the organization. Due to our large public and private corporate client base, PKM tax professionals have a wide breadth of knowledge in federal and multistate business tax issues.

PKM tax professionals can help prepare tax returns, keeping in mind all of the intricacies and tax efficiencies of your business. We also can review recent returns to determine if additional deductions or credits are due. In the unlikely event that you face an IRS audit, our staff is available to assist and represent you. We can provide audit representation before federal, state and local agencies for inquiries, audits and offers-in-compromise, thereby freeing your staff to do their jobs while we deal with the auditors.

PKM’s knowledgeable professionals are available to help you and your staff as you prepare budgets for the various taxes you will pay over the budgeted period.

Return Preparation Services

Return preparation is just one of the many compliance services offered by PKM.  Our staff has experience in the preparation of returns for entities including:

• Corporations
• Partnerships
• S-Corporations
• Individuals
• Trusts

PKM can also prepare returns to comply with:

• Property tax
• Sales and use tax
• Premiums tax

Return Review

PKM can also review returns prepared by other parties with an objective and critical eye, focusing on tax return positions, treatment of various special transactions and the accuracy of certain complicated calculations.

Estimated Tax Planning

Planning for and paying the correct amount of estimated tax is crucial to avoiding a large tax liability and steep penalties when it is time to file your return.  We will proactively gather information and calculate your required estimated payments on a quarterly basis.

Alternative Minimum (AMT) Tax Planning

The AMT tax rules can be complicated and difficult to understand, and if not appropriately addressed, could give rise to an unexpected liability at filing time.  We have been computing the impact of AMT along with taxable income for years, and we keep our clients informed of their tax position regarding AMT.  With proper planning, an AMT liability can be minimized or eliminated entirely.

Fixed Asset Accounting

• Records Maintenance
  We have staff dedicated to maintaining fixed assets on a book, tax, state and AMT basis.  We have software capable of analyzing the impact of bonus depreciation, Section 179, and various other unusual tax elections and fixed asset treatments.  Reports are clear, detailed and easy to understand.

• Cost Segregation Studies
  A Cost Segregation Study is a low-risk, high-return method to quickly recover capital investments and improve cash flow. This process separates new, renovated and existing building costs into components, which enables you to hold onto cash longer by accelerating the depreciation deductions of certain components.
  

• Fixed Asset System Conversion
  PKM often provides consultation to clients who desire to move from outdated, complicated fixed asset software to newer, more streamlined software.  This increases both the efficiency and efficacy of maintaining fixed assets, and can free up time and resources once spent cleaning up data from archaic systems.
  

Tax Accounting

The fundamental differences between book and tax accounting are the underlying basis for all tax compliance and consulting needs.  Using tax provision analysis, tax account roll-forwards, accrual calculations and various other tools, we can track the movement of taxable income, tax liability (or benefit) and carry-forwards for our clients.  We understand the accounting behind income taxes, and can help you book the appropriate expense/benefits, track your receivables/payables, and verify the accuracy of your deferred tax accounts.

Staff Outsourcing

PKM can provide the experience and expertise needed to tackle various compliance projects through “loan-staff” arrangements.  Staff outsourcing can be cost-effective and efficient – we rely on the tools and information you provide us, and can often perform the work in your facilities, eliminating the need for shipping and excess data transfer.