business tax services

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At Panorama, we understand that taxes are a top priority for business owners. Smart tax planning can save you money, and you need tax services you can trust. We specialize in preparing business tax returns for many of our accounting clients, ensuring efficiency and improved tax planning. Our deep understanding of your industry and regular review of your financials means you won’t waste time sending documents back and forth, especially during tax season.

We go beyond just completing mandatory tax forms. We address the tax effects of upcoming transactions, tax law changes, and your business goals. As your business grows, we’re here to support you every step of the way.

Our Services Include:

1. Annual Income and Franchise Tax Returns: Preparation and estimated tax computations for all federal, state, and local jurisdictions. We have experience with virtually every state, and can help you as you grow.
2. Sales and Use Tax Filings: Ensuring compliance and accuracy.
3. Property Tax Return Filings: Managing your property tax obligations.
4. Planning for Unusual Income Changes: Strategies for handling significant income increases or losses.
5. Transaction Planning: Guidance for unusual or large transactions.
6. Succession Planning: Addressing the tax implications of business succession.
7. Asset Analysis: Fixed and intangible asset analysis, including cost segregation studies.
8. Tax Savings Ideas: Identifying deductions, tax credits, and other incentives.
9. Compensation Planning: Integrating compensation planning for executives and personal tax      returns for business owners.
10. Accounting Method Changes: Assistance with tax elections and method changes.
11. Multi-State Tax Analysis: Planning for sales and income tax nexus, including Wayfair risk      analysis.
12. Tax Controversy Assistance: Representation for letters, notices, and audits from the IRS and      other authorities.

Business Structures We Serve:

1. LLCs: Offering liability protection and tax flexibility. We handle compliance whether your LLC is taxed as a corporation, partnership, or single-member business.
2. Corporations (C- and S-Corps): From compensation planning to tax strategies for employee      benefits, we maximize the tax benefits available to your corporation.
3. Partnerships: Managing the complexities of partnerships, including tiered structures, basis tracking, and compensation structuring.
4. Single Owner Non-Corporate Businesses: Simplifying tax reporting for single-member LLCs or DBA names and supporting growth into partnerships and corporations.

Expert Tax Strategy and Consulting

Combining tax law knowledge with an in-depth understanding of your business, we help you optimize transactions and take advantage of tax incentives. Our expertise includes:

1. General Tax Strategies: Liability forecasting and accrual calculations.
2. Transaction Analysis: For business sales and acquisitions.
3. Asset Planning: Fixed and intangible asset planning, basis tracking, depreciation, and amortization.
4. Compensation Strategies: Tax optimization for compensation.
5. Tax Election Compliance: Assistance with tax elections and calculations.
6. Accounting Method Changes: Guidance on changing accounting methods.
7. Lease vs. Buy Analysis: Evaluating the best options for asset acquisition.
8. Succession Planning: Planning for business succession and its tax implications.
9. PTET Elections and Planning: for qualifying business owners, maximizing their federal tax savings in a changing tax environment
10. Wayfair and sales tax challenges: as your business grows, we help you stay ahead of state tax compliance issues

Cost Segregation Studies

Accelerate your tax deductions with cost segregation studies. By analyzing your real property, we identify items that can be depreciated faster under tax rules, saving you money and increasing cash flow when you need it most.

State and Local Tax (SALT) Services

Navigating state and local taxes can be complex. With Panorama, you have a partner for all your state and local tax needs, including income and franchise tax, sales and use tax, and property tax. We also offer payroll tax consulting for specific issues.

Our team has experience with virtually every state and hundreds of local jurisdictions. We help you stay ahead with planning and optimization of credits and incentives, ensuring compliance and minimizing tax liabilities.

Maximize Your Tax Savings with Expert Guidance

Navigating the world of tax credits and incentives can be challenging. At Panorama, we leverage our extensive experience to help your business secure the tax savings it qualifies for. Our team is well-versed in credits and incentives across the US, ensuring you get the most out of available opportunities.

Examples of Tax Savings and Grants We Assist With:

1. Work Opportunity Tax Credits (WOTC): Including other payroll-related tax incentives.
2. State Income and Franchise Tax Credits: Maximizing state-level benefits.
3. Incentive Grant Applications: Assistance with state or local grants.
4. Tax Exemption Forms: Such as sales tax exemptions where applicable.
5. Energy and Green Initiative Rebates and Credits: Leveraging sustainability incentives.

Comprehensive Business Compliance and Indirect Tax Services

Staying compliant with various tax forms and indirect tax filings is crucial for your business. We handle the preparation of essential forms and provide services to ensure your business remains compliant.

Our Services Include:

1. Business Registration and Tax Account Setup: Assistance with initial setup.
2. 1099-MISC Form Preparation: For subcontractors and service vendors.
3. Form 8027 Tip Information Return: Accurate preparation for tip reporting.
4. Sales and Use Tax Returns: Filing for all jurisdictions.
5. Property Tax Filings: Managing your property tax obligations.
6. Informational Forms and Surveys: Compliance with various government agencies.

Specialized Alcohol Tax Filings

For brewpubs, microbreweries, and micro wineries, we offer specialized services for alcohol tax filings. We prepare periodic alcohol reporting filings and excise tax forms, ensuring compliance with all regulations.

Our Services Include:

1. TTB Quarterly Brewer’s Report of Operations: Accurate and timely reporting.
2. TTB Excise Tax Returns: Ensuring compliance with federal excise taxes.
3. State Alcohol Filings: Managing state-specific alcohol tax requirements.

We understand that each brewery and micro winery is unique. Our team works closely with your production staff to gather necessary information, such as inventory quantities, spoilage, and loss. If you have retail sales in the same space as your restaurant or bar, we can seamlessly handle the retail accounting and sales tax for you as well.

Let Panorama handle your tax needs so you can focus on growing your business. Contact us today to learn how we can help you achieve your business goals.