Tax Services

Provided by RSM McGladrey, Inc.

Merger and Acquisition Costs: Who Gets the Benefit?
In an M&A transaction, the treatment of professional services costs, such as legal, accounting or investment banking fees can be complicated. There are several factors involved with which party receives available deductions and the timing of such deductions.

Qualified Therapeutic Discovery Project Program Update
The IRS is now accepting applications for the Qualifying Therapeutic Discovery Project Program. Applications are due to the IRS on July 21, 2010. The program creates a $1 billion pool from which the IRS will award tax credits or grants for qualified therapeutic discovery projects (QDTP). Additionally, the IRS will only consider projects that create U.S. jobs and increase U.S. competitiveness.

Health Care Reform Bills Include Numerous Tax Changes
The Patient Protection and Affordable Care Act (H.R. 3590), which President Obama signed on into law on March 23, 2010, and the Health Care and Education Affordability Reconciliation Act (H.R. 4872), also passed by the House and which the Senate will consider shortly, include a series of new taxes and fees on individuals and businesses, as well as tax credits designed to help ensure nearly universal health insurance coverage.

HIRE Act Offers Tax Breaks for Employers and Other Incentives
Passed on March 17, 2010, the Hiring Incentives to Restore Employment (HIRE) Act offers employers a tax credit and a limited "payroll tax holiday." Other provisions include enhanced expense treatment for new equipment, extended eligibility for tax credit bond issuers, and increased funding to highway and transit programs.

NOL carryback change offers significant tax benefits
The recent change to the NOL carryback period offers real benefits to companies that understand how to maximize tax benefits while avoiding potential pitfalls.

America's Affordable Health Choices Act of 2009, The House Ways and Means Committee approved H. R. 3200

What Will Obama’s 2010 Tax Proposals Mean for Your Company?
Obama’s 2010 tax plans would mean higher taxes, increased information reporting and other burdens – with a couple planning opportunities.

Stimulus package includes broad tax incentives
The stimulus package recently signed into law includes extensive business, energy, and individual tax incentives. The incentives are geared to benefit a broad range of companies, including those incurring net operating losses or investing in alternative energy. Our Tax Digest Special Edition: The American Recovery and Reinvestment Act of 2009 highlights the key tax provisions in this sweeping piece of legislation.

Every business wants to reduce taxes, but to do it correctly isn't always so simple. Often tax strategies that look good by themselves can be less sensible, even problematic, in the context of your whole business.

That's why we take a balanced and integrated approach. We focus on your total business picture, not just your next return. Our tax consultants help you define the right overall tax position, designed to save you money, while meeting your larger business goals. And since we often provide advice on many aspects of client's business, we can see opportunities that other tax specialists might miss.

Another thing that separates us is our idea of tax season. To us, tax time is all the time. Yes, we're sticklers about deadlines and compliance, but our larger goal is tax management. So we keep a year-round eye on new and pending federal, state and local tax laws. We alert you to changes that may affect you and help you respond.

Our proactive approach to taxes sets us apart. In addition to providing ongoing advice, we offer a number of specific tax services.

You want tax advice you can count on, reliable counsel to guide you through complex and ever-changing tax rules. You want to pay your fair share, but never more than is necessary, using strategies aligned with your long-term business goals. That's the kind of support you'll find at McGladrey.

To learn more, call 800.274.3978 for an office near you.