Tax Consulting & Compliance

Tax Consulting & Compliance

Almost every life and business decision has tax consequences. The KraftCPAs tax team helps our clients become more efficient and profitable through the effective management of tax expense. By working proactively as a team, we determine the best tax strategies to help our clients pay the least amount of tax required by law so they can achieve their business and personal financial goals.

We’re more than just tax preparers

Tax Experience

Our tax team includes more than 30 professionals who are dedicated solely to providing tax services. Many have worked with national firms, bringing diverse experience to our team.

We’ve worked with with closely held companies, mid-market businesses, clients with multi-state tax filing requirements, subsidiaries of foreign-owned companies, and U.S. companies operating abroad.

Our team is passionate about providing proactive tax advice to help clients build, preserve, and transfer business value and personal wealth.

Whatever your needs, KraftCPAs has dedicated, highly trained, and experienced professionals ready to become part of your team.

Tax Services for Businesses

  • Tax return preparation
  • Identification of tax credits & deductions
  • Income tax planning
  • State & local tax planning
  • Entity selection
  • Merger, acquisition & succession/exit planning
  • Deal structuring for favorable tax consequences
  • Tax controversy resolution
  • Tax-saving cost segregation studies
  • Research & experiment (R&D) credit studies
  • Tennessee jobs tax credit studies
  • Outsourced tax department
  • International tax planning

Tax Services for Individuals

  • Tax return preparation
  • Identification of tax credits & deductions
  • Income tax planning
  • Estate & gift planning
  • Personal financial planning
  • Wealth management

Specialized Tax Services

At KraftCPAs, we are more than tax preparers. We are business advisors concentrating on a large, potential business expense — taxation. In addition to preparing tax returns and providing proactive tax planning and consulting services, our tax experts can help clients in the following areas:

Outsourced Tax Department

KraftCPAs can provide companies the tax resources they need without the expense of adding specialized tax experts to the payroll. Your accounting/finance department can focus on critical business functions while our tax team handles tax research, planning, and compliance.

Cost Segregation Services

A cost segregation (cost seg) study is an engineering analysis of the construction or acquisition documents of a capital project. It identifies existing components and assigns the associated costs into proper depreciation classifications for federal income tax purposes.

Accelerated depreciation provides faster “write-off” for tax purposes and significant cash flow benefits. Cost segregation maximizes dollars allocated to land improvement (15 years) and personal property (5 and 7 years) vs. real property (39 years). Under certain circumstances, the assets identified may also qualify for the special 50 percent bonus depreciation.

Research & Experimentation (R&D)

Many people have the impression that only activities undertaken by people who wear white lab coats qualify as R&D, but that assumption cannot be further from the truth.

We help clients explore the applicability of the R&D credit to business research activities. In fact, we have been able to save one client at least $700,000 using R&D credits — credits that the client’s previous CPA firm said they weren’t eligible to claim.

Estate & Gift Tax Services

KraftCPAs tax professionals regularly counsel clients on retirement planning and IRA distributions and work closely with our client’s other advisors to minimize income taxes before and after retirement. In addition, our tax professionals work closely with clients and their lawyers to structure an estate plan to accomplish each client’s goals. This process not only includes minimizing income and estate taxes, but also understanding the family dynamics and concerns that often impact these estate plans.

We also help with structuring gifting plans, which maximize available discounts in order to transfer the maximum amount while preserving as much of the client’s unified credit as possible. No matter if our clients’ goals are to maximize the amount passed to their families or to their favorite charity, our tax professionals can help design the right solution.

State & Local Services

Our tax consulting team provides a variety of services to help clients proactively address state and local tax issues. These services are designed to promote compliance and reduce the risk of costly penalties, while helping to ensure that clients pay the least amount of state and local taxes required by law. SALT services include:

  • Nexus studies
  • Income/franchise tax return reviews
  • Restructuring to minimize state tax liability
  • Controversy resolution
  • Advising on state credits and incentives
  • Voluntary disclosure agreements

“We saved one client $700,000 using R&D credits — credits that the company’s previous CPA told them they were not eligble to claim. We pride ourselves on staying on top of the ever-changing tax laws to help clients identify new areas to reduce their taxes.”

Mark Patterson
Member, KraftCPAs Tax Services

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