TAX ADVISORY

Compliance

Our approach to tax compliance focuses on integrating understanding and accounting methodology in order to help our clients manage tax areas that may be more complex in nature, but are a necessary component of their day-to-day activities.  Expanding beyond traditional return preparation services, we assist business owners and self-employed individuals with maintaining regulatory and authoritative compliance with form reporting needs, as well as documentation and record keeping in response to federal and state tax rules and operational contract requirements. 

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At LEACIF, we want our clients to be proactive, prioritize, and understand the 'why' behind the tax complexities they may encounter.  Our firm assists clients with navigating compliance requirements related to § 280E and the regulations under § 471, partnership accounting and the regulations under Subchapter K, property related transactions, including rentals, leases, and digital assets, multi-state considerations, and self-employment considerations.

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Planning

We offer a variety of business tax planning services, including entity structuring and advisement for new businesses, strategic and operational objective consulting and scenario analysis, tax estimate calculations, cash flow planning, and assistance with considerations for reorganization and exit transactions.  Depending on an individual client's goals and specific situation, LEACIF may fully support a client's tax planning needs, or may assist other professionals on the client's team in facilitating tax and accounting considerations.

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Partnership Matters

Tax partnerships can create many opportunities to support complex ownership structuring and funding scenarios.  With this, there are just as unique nuances included in partnership tax law that require additional considerations beyond tax form reporting or what can be gained from most financial accounting and bookkeeping systems.  LEACIF assists clients with both being aware of and understanding these requirements and the resulting tax treatments, along with the related record keeping and partnership level accounting needs.

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For initial accounting and tax service client relationships, a portion of our onboarding process is dedicated to assisting partnership members with having a more thorough understanding of tax matters they are subject to, both under tax regulations and per their operating agreement requirements.  When appropriate, we also advise and assist clients with furthering this understanding, including during initial operating agreement formation, when restructuring, or in seeking funding or new members. 

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We also assist with capital account maintenance under § 1.704-1(b)(2)(iv), or book accounting, including book liquidation value balance sheet presentations, tax and accounting matters related to contributions and distributions, contributed property, debt, and property revaluations, partner level transactions, capital and profits interests considerations, and option and convertible note scenarios.  

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Research

Do you have a tax scenario that you want to better understand the reasoning behind, or are you looking for specific guidance, authoritative text, Tax Court opinion, regulation, or law excerpt?  We provide topic specific tax research and citation services related to matters that are important to you, as well as those that may be unique or emerging.  

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