Commercial Fishing Industry
On the Water
The commercial fishing industry is rapidly changing to survive and thrive under rising competitive and political pressures. Vessel quotas, permit stacking, co-ops and downsizing are some of the struggles facing the industry. We help clients stay afloat by understanding their business and providing practical and innovative advice.
Our Commercial Fishing Industry Services
McGladrey were there when the first fleet of catcher/processor vessels was built and today we still retain the experience with an in-depth knowledge of key issues that are critical to the fishing industry. We assist clients by doing more than tax and accounting, we help with the purchase and sale of vessels and plants, purchase of licenses and quota shares, allocation between intangibles and tangibles, business valuations, tax compliance and consulting, and tax benefits for foreign sales.
Additionally, we offer a full range of tax and business consulting services, retirement resources, payroll services and corporate finance. We will tailor these offerings to meet your unique needs, providing you with individualized service from professionals experienced in the issues your industry faces.
Our Commercial Fishing Industry Experience
We serve more than 50 commercial fishing clients. We are members of the At Sea Processors Association, Alaska Crab Coalition, North Pacific Fishing Vessel Owners Association, Pacific Seafood Processor's Association, and Groundfish Forum. Further, we attend the North Pacific Fishery Management Council meetings on a regular basis in order to understand the issues our clients face. The managing director in our Seattle, Wash. office was selected as one of 20 people nationwide to serve on a task force to prepare a report for Congress regarding the government's role in contributing to the overcapitalization of U.S. fisheries.
Partnering with industry experts enables us to move quickly past the basics, to be more efficient and to provide you with high-quality, in-depth services.
Optimizing your transfer pricing arrangement can net big tax savings