Tax Planning and Preparation

Tax laws today are complex yes, and planning a tax strategy and executing it appropriately not only will help you save time but money and resources as well.

Our tax professionals can help you understand and analyze business and individual tax decisions in order to make better decisions for your long term financial stability. We have the experience and resources necessary to resolve your tax issues no matter the complexity. We have experts in all entity types, including:

Individual Tax Services

For many of our clients business and individual tax situations are intimately related. Business activities and the method by which profits flow to ownership (shareholders, members, and partners) can have an important impact on the individual tax situation. Critical factors include the timing of payments, classification, overall individual tax position, as well as, many others. As a result, it is imperative to work with proactive tax professionals that not only understand the constantly changing tax code, but also understand how business activities will impact your individual tax situation. Terkelsen, Smith & Tyree’s tax professionals have years of experience providing comprehensive tax planning for business owners and high net worth individuals. These services may include:

  • Income tax planning & compliance
  • Preparation of federal and state tax returns, including multi-state returns
  • IRS/State tax audit representation
  • Retirement tax planning
  • Gift & estate plan reviews
  • Estate & trust planning

Partnerships

Our tax team at Frost, PLLC has the expertise and wide breadth of knowledge to help you with your tax needs relating to your partnership or LLC taxed as a partnership.

Whether you need help with year end tax filing requirements, quarterly or annual tax planning, or other tax consulting services our professionals can help. We have experience with many complex partnership and LLC issues including:

  • Organization
  • Dissolution
  • Liquidation
    • Special allocations
    • Curative allocations
    • Analysis of liabilities
    • Inside and outside partnership/LLC and partner/member basis
    • Step up or step down elections

Corporate Tax

Frost, PLLC’s tax professionals have experience with corporations, closely held corporations, multi state corporations, subchapter S corporations and LLC’s  taxed as C or S corporations.

Our tax professionals will help with your corporation’s tax filing requirements and will work with you to be proactive when planning for transactions in order to minimize taxes and maximize cash flow. Whether the company is a start up, a small business or has been in business for multiple years and is looking for an exit strategy, our Tax Team can help. In addition, your tax professionals can guide you through specialized areas such as:

  • Choice of Entity Type
  • Succession Planning
  • Rules for Agriculture

Our significant investment in computerized tax preparation and research software enables us to handle your income tax needs accurately and efficiently. We can also help you deal with the IRS or State of Arizona in the event of an audit of your past year tax returns.

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