August 1, 2019

Cut Sales/Use Tax Liability in Half Through Exempt Certificate Analysis

A manufacturing client discovered that they had economic nexus in multiple states following the South Dakota v. Wayfair decision. Our State and Local Tax Services Group came in and performed an exempt certificate analysis, looking at sales in each state to determine which customers were exempt and then asking for exemption certificates. After obtaining and applying the exemption certificates to customer accounts, we were able to help cut their multi-million sales and use tax liability in half.

Read more about the Anders State and Local Tax Services Group.

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August 1, 2019

Performed Economic Nexus Study to Determine State Liabilities

Following the South Dakota v. Wayfair decision, our client needed to evaluate which states they owed sales and use tax. Our State and Local Tax Services Group performed a nexus review to look into sales in each state against state thresholds and determine liabilities in each of the states. Our team identified that the company needed to register in 30 states to avoid a large tax liability for non-compliance.

Read more about the Anders State and Local Tax Services Group.

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June 28, 2019

Saved Manufacturer Over $350,000 Through R&D Study

Our manufacturing client had utilized the Research & Experimentation (R&D) tax credit in the past, but our team questioned if they were getting the maximum benefit from their current method of capturing research wages and related costs. By completing a full R&D study, we identified additional wages and supplies that could be included to bolster the client’s R&D credit opportunities for each year of the study. By amending the prior three years of tax returns, our team discovered over $350,000 in additional savings.

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May 31, 2019

Offered Loan Advisory to Multi-Location Restaurant to Save $240,000 in Interest

A local restaurant client had opened another location utilizing financing through an SBA loan. Our team came in and provided loan advisory services to identify the best loan and banking organization to fit the needs of their business. We were able to introduce them to a middle market bank with restaurant experience to help their seasoned business reach profitability faster. After devising a plan to pay off the variable rate SBA loan, we helped pair them with a conventional fixed loan. The restaurant saved $30,000 per year in interest over the remaining eight years of the SBA loan, offering an extra $240,000 to invest back in their business. The new banking relationship also offers intangible savings such as better cash management and security advantages.

Learn more about our Lodging, Food and Beverage services.

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January 15, 2019

Helped Electrical Subcontractor Identify and Facilitate Merger to Complete $400,000 Sale and Business Transition

An electrical subcontractor had planned on finishing contracted jobs and closing the doors. Walking away with the unintended consequence of disrupting employees’ lives seemed to be the only option. The Anders Business Transition Planning team stepped in and first looked into streamlining internal processes to help increase the value of the business. After building the company’s value, we then helped identify other subcontractors looking to get into the local market and evaluated potential offers. Once the owners chose the right fit, we performed a review of the allocation of purchase price, non-compete agreement, earn out terms and the related tax implications to negotiate a purchase and earnout of $400,000.

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January 2, 2019

Saved Sole Practitioner Veterinarian $180,000 in Tax Liability with Business Transition Planning

Our client, a sole practitioner veterinarian, was in the final stages of selling his business when the Anders Business Transition Planning team came in to review the asset purchase agreement. Upon reviewing, we found tax opportunities to benefit the seller and worked with the buyer on the non-competition agreement, asset valuation, inventory estimation and holdback amounts. By helping restructure the sale, we were able to save the client $180,000 in state tax liability.

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May 17, 2018

Facilitated a Beneficial Restructure of a Building Renewal Lease Agreement

Our client needed to structure and draft a new lease agreement to renew their building lease. We were able to obtain current lease rates in their market and introduce them to a commercial real estate broker to draft the most beneficial lease agreement for them.

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May 10, 2018

Tax Reform Corporate AMT Repeal Saved Client $50,000 in R&D Tax Credits

Under the old tax code, our client was subject to alternative minimum tax (AMT) and could not receive a benefit of research and development (R&D) credits. Once that rule was lifted, we suggested that the client take advantage of R&D credits. We have been able to claim Federal tax credits of nearly $50,000 for the company so far in years one and two.

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May 2, 2018

Performed Cost Segregation Study for Apartment Complexes Resulting in Net Present Value of $415,000

By conducting cost segregation studies on senior living apartment and college apartment developments we netted the developers $415,000 in net present value with the combined cost segregation studies.

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April 4, 2018

Saved Assisted Living Facilities $340,000 in First Year with Cost Segregation Study

By completing a cost segregation study on seven senior living facilities developed and built we saved the developer/investor $340,000 within the first year of operations.  The overall net present value of completing the cost segregation studies for these senior living facilities exceeded $2 million for all projects.

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