TAX REPORTING

With ever-changing tax rules, one thing you can count on is our understanding of the details of a valuation and the tax events that require them.

Tax advisors refer their clients to us at significant junctures for their businesses because they know they can rely on GMC & Company for a credible, unbiased, independent valuation.

 SERVICES

  • Related party transactions

  • Corporate restructuring

  • Built-in gains for S-Corp election

  • Charitable contributions reported on Form 8283

  • Gifts reported on Form 709

  • Estate tax returns

WHAT IT IS

There are several tax planning transactions that require an independent valuation to support required tax filings.

WHY IT MATTERS

Many of the events that initiate a need for an independent valuation for tax reporting are relatively infrequent in the lives of business owners such as: a change in elected tax status, a large charitable contribution of private stock, or the death of a shareholder.

Since these kinds of events are infrequent, it can be difficult to find a firm with experience in the specific transaction in question.

If the taxpayer’s appraisal does not withstand IRS review, the consequences can be costly.

HOW WE PROVIDE VALUE

Professional tax advisors refer their clients to us to provide a credible valuation that will withstand IRS review. Additionally, we take the time to understand the business, its owner(s), management, and operations, so that we can apply that understanding to the valuation. Our approach is strengthened through our deep technical and business knowledge producing a well-rounded result for the client.