The right tax strategy can add long-term value to your business and help you achieve your goals. Leverage the expertise of McNulty CPA to gain insights into the tax consequences of business decisions and understand the tax incentives available to you.
Business Tax Preparation and Planning
Starting and running a business can be challenging, and the complicated nature of business taxes can create a headache for business owners. Our tax accountants use their knowledge and experience to tailor tax planning and preparation to the needs of your partnership, LLC, corporation, or nonprofit organization.
Cost Segregation Studies
Growing businesses need to consider all tax savings opportunities to increase cash flow and reduce taxable income. If your business involves building, purchasing, remodeling, or expanding any kind of real estate, you may benefit from accelerating depreciation on certain building components. Our cost segregation studies allow property owners to reclassify certain costs from longer-life assets into shorter-life assets and create significant tax savings.
Individual Tax Preparation and Planning
Life is full of surprises, and it is essential to consider the impact of taxes in every area of your financial life. Our tax advisors build a long-term relationship with you and your family to help navigate life’s ebbs and flows and turn change into new possibilities with efficient tax planning strategies.
Real estate investors, developers, and property owners have specialized accounting and tax needs, and it is essential to work with an accountant who understands your options. Our professionals understand the real estate industry’s complex issues and provide industry-specific tax and advisory services to minimize risk and maximize profitability.
Tax planning is a crucial element of preparing for retirement, and the tax rules surrounding 401(k), pensions, and other qualified plans are complex. McNulty CPA can help you understand the tax implications of your retirement plan choices and ensure you can live comfortably once your retirement savings becomes your primary source of income.
State and Local Taxes
State and local tax regulations are constantly evolving, making it difficult for business owners to calculate taxes correctly and avoid penalties. We stay on top of these changes to help you understand nexus rules and take advantage of any state and local tax incentives that may be available to you.
Tax Credits and Incentives
Federal, state, and local governments offer tax credits and incentives, including the Research and Development Credit and the Work Opportunity Tax Credit, to help spur economic growth. However, it can be difficult for business owners to know which tax credits and incentives they might qualify for. McNulty CPA helps you navigate the rules, regulations, and economic policy to lower your tax burden.
Selecting the right tax structure provides legal protection and ensures you conduct your business operations in the most tax-efficient way possible. Whether you are just starting out or you have outgrown your existing structure and are considering a change, McNulty CPA can counsel you on the right choice and help you properly file all the necessary paperwork with federal and state tax authorities.