At Sisterson, we consider our firm to be a leader in tax compliance and sophisticated tax planning strategies. The scope of our tax practice goes far beyond routine tax return preparation.
We deliver the power of diverse experience and the peace of mind that comes from close, personal attention.
For Business Entities
Not only does a tax preparer need to possess a high level of knowledge about tax matters, but also about the business and the industry in which clients operate. Sisterson is structured with professionals who work year round on clients’ tax matters.
Tax Compliance – We have extensive experience in tax compliance for business entities operating in corporate and non-corporate structures and we view tax compliance for those entities as a frequent and effective tool to identify tax-planning ideas.
Choice of Entity – A careful analysis of a business owner’s specific tax and non-tax considerations and objectives must be performed before choosing the most appropriate legal form of doing business. We have the experience and know-how to assist an owner in identifying objectives and weighing all the factors to reach the best conclusion, in collaboration with legal counsel.
C Corporations – Taxation of closely held C corporations and their shareholders is a very complex area of tax law that offers opportunities and traps for the unwary. We have had many years of experience in dealing with these issues.
S Corporations – Because of our private company focus, the professionals at Sisterson are thoroughly experienced and well qualified to guide business owners through the complex maze of federal and state tax laws that pertain to S corporations.
Partnerships – From a federal and state income tax perspective, partners generally do not fully appreciate the degree of complexity that arises from conducting business as a partnership. Sisterson has exceptional experience in guiding clients through all types of partnership tax issues, including entities organized as a Limited Liability Corporation.
Limited Liability Companies – LLCs present business owners with many federal and state income tax planning opportunities. Sisterson has been working with LLCs ever since they came into existence.
Consolidated Tax Returns – The laws regarding the taxation of consolidated returns are very complex and continually changing. Sisterson has exceptional experience in the use of consolidated returns for operations of all sizes.
Taxation in Pennsylvania – The unusual combination of both an income tax and a net worth tax in our state requires careful planning to minimize the overall tax burden for corporations in Pennsylvania. We have spent many years dealing with Pennsylvania tax law and the Department of Revenue and are prepared to meet that challenge.
Depreciation and Amortization – We have been helping our clients with fixed assets record-keeping and decision making for years. Today, with the help of automation, much more attention is placed on the planning vs. compliance aspects of fixed assets record-keeping.
Sales and Use Tax Planning – The complexities of collecting state and local sales and use tax, and the administrative burden associated the collection, may be overwhelming for small and mid-sized companies operating in multiple states. We have experience in all areas pertaining to state sales and use tax.
State and Local Tax – Our tax department has had many years of experience in dealing with the multi-state tax issues and in working with clients to reassess their operations in multiple states to reduce their state tax liabilities.
Tax Accounting Methods and Elections – At Sisterson, we are very familiar with the subtle nuances of accounting methods and when a change is appropriate. Some firms fail to consider all of the planning options available to their clients because they do not possess the breadth and depth of experience in these matters as the tax professionals at Sisterson.
Non-Qualified Compensation Plans – We have extensive experience in helping employers and employees recognize and deal with the subtle tax nuances of these arrangements so that both parties are satisfied with their economic and tax consequences. We provide tax advice on all types of arrangements, including: Rabbi Trusts, Top Hat Plans, Supplemental Employee Retirement Plans (SERPs), Restricted Stock or Property Plans, Phantom Stock Plan, Non-qualified Stock Option Plans, and Performance Share Plans.
Private Foundations – Private Foundations are subject to operating restrictions and requirements in addition to those applied to tax exempt charities in general. They are subject to onerous excise taxes for failing to comply with these, besides being subject to an excise tax on net investment income. Our tax department has the knowledge and experience to assist private foundations to avoid acting or failing to act in such a manner as to become liable for these excise taxes.
Business Acquisitions – Sisterson is deep with business acquisition experience. Our tax professionals have extensive experience in tax issues such as choosing the legal form of the acquiring entity, the allocation of purchase price, amortization of purchase price related to intangibles, purchase money indebtedness, employment contracts, methods of accounting, inventory accounting (including LIFO issues), and many other related tax matters.
Selling a Business – The professionals at Sisterson understand how to help owners reduce or defer tax on the sale of a business by using a number of techniques. Obtaining an understanding of the big picture is the first step in that process. We will also look at the type of consideration offered by the buyers. We can help you assess the benefits and risks of these options.
For Individuals and Related Investment Vehicles
Sisterson’s individual tax practice is dedicated to the owners and officers of our business clients or other high net worth or high net income individuals. The following are examples of the services that we provide.
Tax Compliance – Sisterson tax professionals ensure that clients comply with the complex tax laws while minimizing their tax burden. We are equipped to deal with the voluminous federal and state tax laws that affect individuals.
Individual Income and Estate Taxation – Complexities in the tax law can be viewed as opportunities for individuals. At Sisterson, our tax professionals can cut through the myriad of laws to find the opportunities for individuals to save income and estate taxes.
Family Limited Partnerships (FLP) – This popular estate planning tool has many attractive features and benefits; but many variable and complexities are also involved. The professionals at Sisterson understand FLPs and can assist clients in analyzing the variables and guide clients toward the most effective planning tools for their situation.
Passive Activity and At-Risk Loss Limitation Planning – When individuals are invested in pass-through entities such as partnerships, S corporations, or Limited Liability Companies, it is their responsibility to determine the amount of loss they can claim. Complying with at-risk and passive activity loss rules and planning for losses is an area in which Sisterson has exceptional knowledge and experience.
Alternative Minimum Tax (AMT) – This affects an ever-increasing number of taxpayers and is an essential consideration in most tax planning. We are well versed in both planning and compliance issues related to this complex tax.
Tax Planning and Compliance for Complex Trusts – Sisterson has years of experience with complex trusts, which enables our tax professionals to work side-by-side with counsel to consider the consequences of each course of action while considering the interaction of the separate bodies of law.
Since the business activities of a company ultimately impacts the tax affairs of its owners, our individual income tax expertise enables us to incorporate these broader perspectives in all of our corporate tax suggestions and planning recommendations.