Individual | Estates & Trusts | Business

 
 


Business Tax Services

Lovoy, Summerville & Shelton's practice is dedicated to helping companies comply with even the most complex tax laws and regulations.  We invest the time to understand your business, your industry, and your risk profile.  Our services are tailored, our advice is specific, and our commitment to quality is absolute.

Our tax professionals consist of experienced members and managers to help ensure that you receive the highest standard of day-to-day service and responsiveness.  Our people understand complex statutory and regulatory rules and judicial pronouncements that businesses must deal with today.  They can help you understand and effectively work within the legal construct to help ensure sound business decisions from a tax perspective. 

Your company has diverse needs that may include effective tax rate management, tax-efficient cash management and deployment, and rapid and systematic integration of acquired companies into the overall tax-planning model.  The tax professionals on your client service team will leverage their knowledge and experience to assist you in identifying opportunities for savings and addressing the ever-changing legal and regulatory requirements.

Tax Compliance

Lovoy, Summerville & Shelton's approach to tax compliance is actually relatively simple - we invest a significant amount of time in upfront planning and employ technology when it makes sense.  We work closely with you throughout the year to resolve most tax issues prior to year-end.  We create systems and employ electronic-based technology that allows us to efficiently process a large volume of constantly changing information.

Our approach to tax planning is to become a strategic partner with management.  We will schedule meetings with management on a regular basis to discuss the issues facing your business.  Through this continual, open communication with the management team, we will obtain an in-depth understanding of your company's business issues and challenges.  This understanding, coupled with our technical knowledge and industry experience, will enable us to identify the tax planning and savings opportunities that will best benefit your business.

We prepare the following business tax returns:

  • Corporation returns

  • S corporation returns

  • Partnership and limited liability company returns

  • Tax exempt organization returns

  • Business trust returns

  • Unclaimed property returns

  • Ad valorem returns

FAS 109, Accounting for Income Taxes

Lovoy, Summerville & Shelton offers its business clients tax provision and tax accrual services.  We work with your tax personnel and the external audit team to address treatment of ongoing transactions and issues regarding compliance with accounting for income tax rules, FAS 109, FIN 48 and other pronouncements.  Together they will help ensure that the tax consequences of various transactions are reviewed as they occur and that last-minute surprises are avoided.  Our knowledge of the FAS 109 and its underlying principles runs deep.

 

 

 

 

 

 

 


 

 

State and Local Taxes

A company's tax burden is often based on the size of its profits.  But unlike federal income taxes, state and local levies can impose a multitude of taxes, even when no profits are generated.  And that can challenge an organization's competitive position.  Lovoy, Summerville & Shelton helps companies manage their multi-state obligations, delivering customized services that enhance the bottom line.  Our experienced professionals also represent clients before state and local taxing authorities.  We continuously monitor the changing tax and non-tax environment, seek to anticipate the impact of these changes on our clients, and communicate potential opportunities and issues.  Companies can benefit from the knowledge, experience, and perspective that our tax professionals offer.

Mergers, Acquisitions, and Divestitures Practice

The Lovoy, Summerville & Shelton team understands the complex issues that arise in each phase of the merger and acquisition life cycle, from the acquisition itself to post-transaction integration to disposition of assets or shares of a subsidiary.  Our tax professionals can help companies identify the elements that could generate tax savings far beyond closing and help make the deal a business success.  Specifically, Lovoy, Summerville & Shelton provides the following services:

  • Due Diligence

  • Acquisition Tax Planning

  • Disposition Tax Planning

  • Post-Transaction Integration Services

  • Service Related to Troubled Companies

  • Leveraged Employee Stock Ownership Plans

  • Stock Basis Studies

  • Tax Basis Balance Sheets