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Tax

24/7/365.

Most firms think about taxes during the first few months of the year, we think about taxes year-round.

Ryan & Wetmore has significant experience in addressing the various tax and accounting needs of businesses, individuals, and estates. Our work during “tax season” is often the culmination of a year of planning, communication, and evaluation to ensure clients across D.C., Maryland, and Virginia is in the best optimal tax position possible. Ryan & Wetmore offers a number of tax services to ensure we are able to meet the complex needs of everyone from international businesses to fast-growing startups.

  • State franchise and excise
  • Payroll
  • Retirement plan
  • State and local income
  • State sales and use
  • Estate and trust
  • Non-profit and private foundations

  • Financial income tax reporting, planning, and preparation
  • Tax credit and incentive planning
  • Merger and acquisition support
  • Choice of entity and entity conversions
  • Tax sharing agreements
  • Consolidated tax returns
  • S-corp stock basis

  • Cross-border tax concerns
  • Foreign tax credit planning
  • International tax planning and compliance
  • US and foreign investment structuring
  • FBAR & FACTS compliance
  • Income repatriation
  • Transfer pricing issues
  • Review of tax accounting methods

  • Estate and trust administration - This includes collecting assets, ensuring necessary income and estate taxes are filed, and preparing accountings to beneficiaries.
  • Preparation of estate, gift, and trust income tax returns
  • Tax-free gifting opportunities
  • Estate and trust planning - This includes Section 645 elections, intentionally defective irrevocable trusts, state considerations, and irrevocable life insurance trusts and "Crummey" letters.
  • Tax-efficient wealth transfers
  • Postmortem estate, income, and inheritance tax planning - This includes developing strategies to carry out the decedent's estate plan, minimizing tax liability, and addressing circumstances not considered during their lifetime.
  • Determining deductibility of estate-related expenses using Form 706 and 1041
  • Family limited partnerships - Created to retain a family’s business interest, real estate, publicly traded or privately held securities, and other assets.

  • Income tax planning and compliance
  • IRS and status audit representation
  • Preparation of federal and state returns
  • Management of audits by tax authorities

We help minimize state and local tax liabilities for companies with multi-state operations and single-state operations. Our firm works with dozens of companies to limit exposure, reduce risk, and, when necessary, represent them to state tax authorities.

State nexus review

  • Determination of whether and where your business established a taxable presence (physical or otherwise) for income and franchise tax purposes, and sales and use tax purposes
  • Exposure quantification and assistance with any voluntary disclosure agreement or amnesty negotiations
  • Nexus planning and situs planning for potential tax savings opportunities

Income/franchise taxes, gross receipt taxes, and other miscellaneous taxes

  • Preparation of state and local tax returns, and state/locality-specific tax planning
  • State sourcing methodology and apportionment review
  • Effective tax rate planning
  • Filing options and election planning
  • Tax-efficient legal entity structure planning
  • Review of any other miscellaneous taxes required by state or local law

Sales and use tax

  • Compliance process improvement and automation
  • Taxability research and preparation of taxability matrix
  • Resale/exemption certificate review
  • Reverse audits (refund reviews of overpaid tax liabilities)

Property Tax

  • Personal property return preparation, reconciliation, and filing
  • Review fixed asset data to ensure compliance with Tangible Property Regulations
  • Review fixed asset additions each year for property under the de minimis safe harbor amount of $2,500 to ensure proper reporting of personal property at the state and local levels
  • Assessment notice procurement and processing
  • Accrual budgeting and forecasting
  • Tax calendar management and tax bill processing

Real Estate Tax

  • Fair market value and uniformity analysis
  • Appeal consultation services
  • Appeal administration and negotiation
  • State and local market data research

Unclaimed property

  • Compliance process improvement and automation
  • Assist with filing requirements and due diligence efforts
  • Review of business processes and recommendations regarding how to address and mitigate unclaimed property risks

Business incentives and tax credits

  • Identify potential state and local tax credits and incentives such as R&D tax credit, job and training credits, and the Work Opportunity Tax Credit (WOTC)
  • Eligibility review and establishment of a system to maintain compliance
  • Assist in evaluations of site selection for optimal tax advantages

State registration and annual reports

  • Assistance regarding state registrations in order to legally conduct business
  • Assistance regarding state registrations for tax purposes (such as for sales and use tax purposes and for withholding tax purposes)
  • Maintain annual report filing calendar

Employment tax

  • Employment tax compliance reviews
  • Federal and state employment tax planning
  • Employment tax reconciliations

Tax controversy

  • Assist in handling tax examinations, disputes, and appeals

Transaction planning and M&A due diligence

  • Assess impact of potential transactional decisions for state and local tax positions including tax attributes, apportionment factors, and filing methodologies
  • Assist in developing tax-efficient strategies to help manage overall state and local tax liability

It is essential to be prepared with a strategic tax plan to ensure when an important business transaction or life event occurs that you are in the best tax position possible. In other words, a tax plan is essential because it ensures after-tax profits can be maximized and personal wealth protected.

For businesses

  • Year-round business tax planning
  • Proactive analysis to identify tax savings opportunities
  • Entity selection and restructuring
  • S corporation, partnership, cooperate planning
  • Qualified business income (QBI) tax advice
  • Tax projections
  • Compliance with federal, state, and local tax laws
  • Multi-state tax planning and consulting
  • Mergers, acquisitions, and liquidations
  • Sale of business

For individuals

  • Year-round tax planning
  • Proactive analysis to identify tax savings opportunities
  • Tax projections
  • Fixed asset management
  • Retirement planning
  • Estate planning and charitable giving strategies
  • Assistance with stock options, restricted stock units (RSU), and other stock compensation
  • Education expense planning

  • 100% penalty assessment
  • Collection procedures
  • Payroll taxes
  • Individual income taxes
  • Installment payment plans
  • Offers in compromise
  • Appeals procedures
  • Corporate income taxes
  • Forms 433-a & 433-b preparation
  • Innocent spouse relief
  • IRS liens and levies

Mike Wetmore, Partner, Co-founder, & CPA
Andrew Snigur, Supervisor
Eric Ingis, Senior Manager & CPA
Jessica Ross, Staff Accountant

Audit & Assurance

We offer a number of assurance solutions designed to provide critical financial information necessary to your decision-making process.

Tax

Ryan & Wetmore has significant experience addressing various tax needs of businesses, individuals, and estates.

Consulting

Leverage the experience of a firm that understands the operational issues companies face.

Outsourced Accounting

Experience the benefits of working with a firm that understands the business and corresponding financial and compliance issues.