Ellis CPA Firm
No other firm in the country does what we do. We do five specific things to make your business work better.
Some Effective Tax Saving Tips that will Help You in Saving Money. Most Popular CFO Consulting Service Areas for Your Business. One of the major issues faced by most businesses is its financial management.
Poor financial management is responsible for keeping your business from growing the way you think it should. Without proper financing, you just cannot tell where your business’s biggest risks and opportunities are going forward. Your bookkeeping staff is helping you keep up with tax and compliance issues but lacks the experience to generate numbers and reports that you need to take your business to the next level.
6 reasons why a company needs CFO financial services. CFO services can take your business to the next level, helping you achieve your goals much sooner.
Know the Difference between Tax Attorney and CPA. When the time comes to file taxes, many businesses have to do some preparations about which they do not have any idea or do not know who to take help.
If you are in a similar position, you might be thinking whether you will hire a certified CPA accountant or tax attorney. The answer to whether you will take help from an attorney or an experienced CPA depends upon your specific tax situations. Both CPA and tax attorneys work on professional tax preparations, but they do different tasks. This blog will help you to know the difference and will guide you to choose the best one. The Advantages You Don’t Know About Hiring an International Tax Expert. Even though many are using the services of an international tax expert, some still do not know the benefits of hiring their services.
The first thing that needs to be understood is that we have evolved a lot than what we were before. Best Ways to Minimize Your Tax Liability. As the old saying goes, “Nothing is certain except for death and taxes.”
Not much can be done about the former, but for the latter, something can certainly be done to minimize tax liability. Having a tax reduction strategy is not something reserved for the wealthy, or those looking to exploit suspect loopholes in the tax code; rather it is a strategy that can be employed by anyone who is willing to follow a few simple rules. Retirement Account Contributions For taxpayers who have retirements accounts or have the ability to start one, contributions to retirement accounts offer a double bonus. First, by contributing to a retirement account, the saver realizes a long-term financial benefit.
Health Savings Account A health savings account allows for a person to pay for current health care expenses and save for those in the future by contributing to a special savings account dedicated to health care expenses. Why You Need to Hire a Tax Consultant – Ellis CPA Firm. Filling the tax return can be done by your own if the tax situation is straightforward and have no major transactions for the current tax year.
They might find the experience satisfactory and time consuming as well but no one else is made privy to your data. While many find filling tax return can be really complicated. Considering IRS made a lot of tax code changes. 3 Ways to Minimize Your Tax Liability. 3 Benefits of Intellectual Property Rights. Ellis Premier Tax Strategist. Get it here.
Experience I’m the CEO & founder of Ellis CPA Firm PC., a tax, accounting & advisory firm. I’m also a right brained mensan genius & I have a unique background that qualifies me to provide meaningful , profitable advice for businesses of any size or market. My career after graduating with the highest grades & top percentile tested competence in my profession, began when I joined the biggest & best public accounting firm in the world, where I worked with some of the brightest people in the world auditing & advising a wide variety of the worlds largest companies.
From there I moved into consecutive C suite positions with 2 Fortune 500 companies. Intellectual Asset Strategies. To achieve tax and safety goals, we recommend holding all your intangible assets such as trademarks, patent rights, domain names, web sites, company name, trade name, trade secrets, etc. in an LLC or several LLC’s.
By quietly transferring trademarks, patent rights and other intangible assets to offshore or out-of-state companies, global businesses can cut their tax bills dramatically.Intellectual Assets Most privately owned businesses don’t even know what intangible assets they own. If you ask them, they will inevitably leave some out. Every business should inventory all their intellectual assets. if they aren’t documented, document them. Asset Protection Strategies. Asset protection is a set of legal techniques and a body of statutory and common law dealing with protecting assets of individuals and business entities from civil money judgments.
The goal of asset protection planning is to insulate assets from claims of creditors without perjury, fraudulent conveyances or tax evasion. Wikipedia Ellis has experience & expertise in asset protection. Everything revolves around state law. There are good states; and there are bad states. Horror stories. Interstate Tax Strategies in USA. Interstate taxation is based on the the concept of NEXUS.
Nexus is typically created for income tax purposes if an entity derives income from sources within the state, owns or leases property in the state, has employees in the state in activities that exceed “mere solicitation,” or has capital assets or property in the state. Northwestern States held that a state could constitutionally impose a nondiscriminatory, fairly apportioned net income tax on an out-of-state corporation engaged exclusively in interstate commerce in the taxing state. “For the first time outside the context of property taxation, the Court explicitly recognized that an exclusively interstate business could be subjected to the states’ taxing powers.” International Tax Consultant. International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP).
Business Restructuring in USA. Ellis CPA is one of America’s experts in business reorganization, including recommending entity type and state or country of organization for best asset protection and tax advantage. Most businesses are not structured to their best advantage. Most privately owned businesses have only one company., which often hinders their success. But Global 500 companies have several, sometimes hundreds, of subsidiaries to achieve all their business goals. One of my clients is VP of tax for a Global 500, and her brother jokes that she’s always creating new foreign subsidiaries. They are the tools of her trade. Reorganizing the business to protect assets & cash flow & cut taxes will eventually become essential for success in the chaotic, tumultuous 21st century. See the following list Global 500 companies with links to their SEC filing. Many of them have hundreds related companies. CFO Services in New York To Cater Your Business Financial Needs.
Running a business in New York is indeed a daunting task. A good deal of businesses really passes through the toughest time when it comes to survival because of the competition in the market. There are lots of things to be taken into consideration. Customer satisfaction plays a vital role. The competent staff should be hired and the finances must be managed well. Tax Controversy Service in USA. We may be the least audited firm in the country A convergence of global forces has resulted in a substantial increase in the number and size of tax audits, assessments, and disputes with revenue authorities locally, nationally & worldwide. Virtually no area of tax enforcement has escaped this phenomenon, which includes direct taxes, indirect taxes, penalties, fees & direct taxes (e.g., VAT and GST, domestic and international) , as well as specialist areas such as customs, tax fraud, and white collar tax issues.
This new situation places a premium on audit and dispute prevention techniques because local, national & multinational companies are under constant competitive pressure to structure business operations effectively and efficiently. Knock on wood, we don’t get audited much. We may be the least audited firm in the country. If and when you get an audit letter, send it to us and we will handle the entire audit.
CFO Services in New York and California. A virtual CFO (Chief Financial Officer) is an investment in the growth of your company. As every business grows, something happens. The more they grow, the more background, bureaucratic chores consume your time. Ellis Premier Tax Strategist. Ellis Premier Tax Strategist. Save tax in California and New York.