Federal Tax Pass-Through Planning
Tax management for unique pass-through business structures
Are you prepared and equipped to manage the unique tax challenges as you make transactional, structuring and compliance decisions as a pass-through entity? Business owners who set up an S-Corp, LLC or even sole-proprietorship (which is unincorporated), receive payments for their labor through these “pass-through entities.” Thomas Huckabee, CPA offers tax consulting and tax compliance services for complex partnerships, LLCs and S corporations. Pass-throughs account for 95% of all businesses, more than 60% of all business income, and more than 50% of all employment. Pass-through entities have become the subject of increasing scrutiny from the IRS. On the federal level, pass-through businesses are subject to a top marginal tax rate of 44.6%. This means that, in most U.S. states, pass-through businesses can face marginal tax rates that exceed 47%.
In light of these facts, the GOP’s Ways and Means Committee and President Trump are crafting details for new Pass-through Tax plan legislation.
In the modern merger and acquisition environment, pass-through entities are frequently the subject of a sophisticated M&A or restructuring transaction. Our pass-through entity specialists are well versed in the opportunities and pitfalls in these transactions. Law firms and complex wealthy investor pass-through entities rely on our tax specialists to minimize shareholder and entity-level tax liabilities, and assist with managing tax compliance issues.
Simplifying Pass-Through Entity Tax Planning
Thomas Huckabee, CPA pass-throughs practice can help. We have 20 years of industry experience to support the needs of partnership and pass-through entities. Tax reporting for pass-through entities often requires a significant amount of time and effort to prepare and deliver the IRS its required Schedule K-’s. We can help to:
- Streamline preparation and filing
- Simplify data collection and review
- Improve accuracy and quality control
People that Make a Difference
Thomas Huckabee, CPA has extensive experience helping numerous partnership structures realize certain tax efficiencies and maintain compliance by adding clarity to:
- Entity formation structuring
- Tax planning
- Legislative and regulatory developments
Technology that increases efficiency
Thomas Huckabee, CPA helps pass-through entities manage pass-through taxes while increasing efficiency and transparency. We can help streamline pass-through tax planning compliance and reporting by helping your company:
- Automate tax management processes
- Organize, analyze and maintain large volumes of data
- Ultimately avoid errors and backlogs
Industry Focus that Digs Deeper
Drawing on our distinct breadth and depth of industry-specific tax and regulatory knowledge, and our experience in federal, state, local and cross-border tax trends, we can address industry-specific issues and specialty areas that include:
- Energy and credits
- Real estate & REITs
Contact us today to learn how we can help your pass-through entity streamline its transactions, operate efficiently, and transition seamlessly in a tax-efficient manner.