Power solutions to your Tax Code challenges –

Let CRI plug into your business to help you find competitive tax advantages.

Although the Tax Code has been in existence since 1913, it has been transformed through continuous change. Merely keeping up with the current rate of change can feel daunting. Your company’s structure, industry, operations, and other unique nuances impact how your business is impacted by the Tax Code. Powering through tax law changes and complexities – and understanding how they interplay with your tax strategies – creates a surge of ongoing compliance challenges.

Because we care about how taxes affect your business and its prosperity, CRI’s professionals develop a command of the tax law and the nonstop circuits of changes to ensure that, first and foremost, you are compliant. Where others see challenges, we see sparks of opportunity; therefore, we roll up our sleeves to plug into your business, tax situation, and objectives to assist you in unlocking The Code. Combining a thorough knowledge of The Code and your company with our experience and expertise allows us to convert your tax process into a competitive advantage. And while tackling the Tax Code may feel challenging, you can have confidence that, with our “electrifying” guidance, you’ll pay only what you owe.

3 Year End Tax Tips

5 Situations When Your First Call Should Be a CPA

Business IRS Letter: Stop Getting Noticed

Straight Talk

Translating technical jargon into a plain English “text.”
I own a C-corporation and have heard that it may be advantageous to become a S-corporation. Is it as easy as simply filing an election with the IRS?
OWNER
Making a S-corporation election is a relatively simple process, but there are a number of things that should be considered before taking that step.
CRI
I figured it would not be that easy. Can you tell me a couple of the more significant factors that I need to think about?
OWNER
Sure. One of the more important things to consider is whether you have any “built-in gains.” Generally, these are excesses of market value above the tax basis of assets. Another point is that you may have to change your corporation’s year-end date.
CRI
I had no idea about those things. It sounds like I need to learn more before making such a significant change.
OWNER
That’s why we are here. And there have been some recent changes in the area of S-corporation elections that we can discuss with you.
CRI
Great! I really need some guidance to help me make a good decision. I will give you a call right away.
OWNER

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Solutions Simplified

Down-to-earth descriptions of our services.
Accounting for Income Taxes

The complexities of the accounting rules for recording and reporting income taxes in your financial statements may not be as “top of mind” for some people as income tax compliance issues, but they are critical to an accurate depiction of your finances. Not only are there many requirements to follow, but judgment is necessary related to valuation allowances that may be applicable and estimates that come into play during the process. The importance of meshing an understanding of tax laws with accounting rules is well-understood by our tax professionals, who routinely provide guidance to clients to help them deal with the many challenges of income tax accounting.

Entity Selections & Structuring

One of the first (and most important) questions when considering a new business is the structure and type of entity that will best meet the objectives of the owner(s). Corporations, S-corporations, limited liability companies (LLCs), and other entities each have their own tax attributes and structure that must be established and maintained. Because of the short and long-term implications of making the proper entity selection, CRI’s tax professionals work with clients to understand the goals and plans of business owners—and to make the proper choices for achieving the desired results.

Tax Compliance & Consulting

Compliance with tax laws of all kinds is clearly critical to individuals and businesses alike. Following the intricacies of tax laws and regulations is a necessity to be able to get good night’s sleep. CRI’s tax services go beyond mere compliance and following the rules; our professionals proactively help plan our clients’ transactions to maximize their after-tax dollars. Whether it is guidance on state nexus issues, structuring the sale of a business, or preparing tax projections, CRI can help.

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Practice Leader

Kris Hoffman
Kris Hoffman
Partner & Tax Service Line Leader
615.760.1528
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