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Running a business comes with many challenges, and facing a tax audit from the IRS or state tax authorities can be one of the most daunting. At Smart and Protax, we specialize in providing comprehensive corporation tax audit services for businesses operating in California, New York, New Jersey, Florida, and Pennsylvania.
Our team of experienced tax professionals is dedicated to protecting your business interests, ensuring compliance, and minimizing financial exposure during the audit process.
• Multistate Income Allocation: California’s complex rules on income allocation and nexus can lead to challenging audits. We ensure your business income is properly allocated and all state obligations are met.
• Sales and Use Tax Compliance: We help you navigate California’s stringent sales and use tax regulations, defending against audits related to taxable sales, exemptions, and reporting errors.
• R&D Tax Credits: For companies claiming research and development tax credits, we provide support in substantiating your claims and defending against audit challenges.
• Corporate Income Tax and Franchise Tax Audits: New York is known for its rigorous corporate income and franchise tax audits. We offer comprehensive support to ensure compliance and resolve disputes related to tax base calculations and apportionment.
• Nexus and Residency Issues: With New York’s aggressive approach to establishing nexus, we assist in defending against audits focused on business presence, sales, and use tax obligations.
• Transfer Pricing and Intercompany Transactions: Our team provides expert guidance on transfer pricing issues and intercompany transactions, minimizing the risk of adjustments and penalties.
• Corporate Business Tax Compliance: New Jersey’s Corporate Business Tax (CBT) regulations can be complex. We help your business stay compliant and defend against audits involving income reporting, allocation, and credits.
• Partnership and S Corporation Audits: For businesses structured as partnerships or S corporations, we offer specialized support to address issues related to partner/shareholder income, basis adjustments, and distribution reporting.
• Sales Tax Nexus and Compliance: We provide guidance and representation for businesses with nexus in New Jersey, ensuring accurate sales tax collection and reporting.
• Corporate Income Tax and Apportionment: Florida’s corporate income tax audits often focus on income apportionment and deductions. We ensure your business meets all state requirements and defend against any disputed assessments.
• Sales and Use Tax Audits: For businesses subject to Florida’s sales and use tax regulations, we offer audit defense services to resolve issues related to taxability, exemption certificates, and compliance errors.
• Multistate Business Operations: We assist Florida-based businesses with operations in multiple states in managing complex corporate tax issues, minimizing the risk of double taxation and disputes.
• Corporate Net Income Tax and Franchise Tax Audits: Pennsylvania’s tax audits often involve complex issues related to net income, franchise tax, and apportionment. Our team provides expert representation to resolve these disputes effectively.
• Property Tax and Business Privilege Tax: We offer support for audits involving property tax assessments and business privilege tax compliance, helping your business meet all local tax obligations.
• Sales and Use Tax Compliance: For businesses facing sales and use tax audits, we provide comprehensive defense strategies to address audit findings and reduce potential liabilities.
• Significant Changes in Income or Deductions: Large variations in reported income or deductions compared to previous years.
• Inconsistent Reporting: Discrepancies between income or expenses reported to different tax authorities or in different states.
• Complex Business Structures: Entities with multiple subsidiaries, intercompany transactions, or complex ownership structures.
• High-Risk Activities: Engaging in activities that are frequently scrutinized by tax authorities, such as cash-intensive businesses or industries with complex compliance requirements.
• Annual Tax Compliance Review: We conduct regular reviews of your business’s financial and tax records to identify potential audit risks and recommend corrective actions.
• Tax Planning and Strategy: Our team provides ongoing tax planning and strategy services to help you optimize your tax position while ensuring compliance with all applicable laws.
• Record Keeping and Documentation Support: Proper record keeping is crucial for audit defense. We assist you in establishing and maintaining comprehensive documentation to support your tax positions.
Corporate tax regulations vary significantly from state to state. With specialized knowledge of the tax laws, our team is equipped to handle the unique challenges of corporate tax audits in each jurisdiction. We ensure that your business meets all state-specific requirements, reducing the risk of penalties and additional tax liabilities.
Our team has a proven track record of successfully defending corporations against IRS and state tax audits. Whether it’s an audit triggered by discrepancies in income reporting, deductions, or multi-state operations, we provide strategic representation tailored to your business needs. Our goal is to achieve the best possible outcome for your company, minimizing any adverse impact on your finances.
• Pre-Audit Risk Assessment: We conduct a thorough review of your company’s financial statements, tax filings, and internal records to identify potential audit triggers and prepare a robust defense strategy. • Representation and Communication: We handle all communications with the IRS or state tax authorities on your behalf, providing clear, concise responses to all inquiries and ensuring your business is accurately represented. • Documentation and Substantiation: Our team assists in gathering and organizing the necessary documentation to support your tax positions, reducing the likelihood of disputes or adjustments. • Negotiation and Resolution: If any issues arise during the audit, we negotiate directly with the auditors to seek favorable resolutions, including reduced penalties or installment agreements for any additional taxes owed.
Navigating the tax landscape can be daunting for many individuals and businesses. The complexity
In the ever-evolving landscape of business management, outsourcing has become a strategic tool for
Taxes can be a complex and overwhelming topic for many individuals and businesses. However,
We are dedicated to providing comprehensive tax and business services that ensure our clients navigate the complexities of taxation and regulatory compliance with ease under one roof.