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Tax Compliance

Compliance can be a confusing mix of competing and contradictory conditions.

At M Kohn & Co., we are always educating ourselves and staying atop of the rapidly reforming tax regulations. Year round, we employ accurate analysis and advisory to optimize your finances, present and future.

Our accountants cut to the core without cutting corners. Legally and logically, we simplify tax compliance and keep more money in your back pocket. We remain a partner to your business beyond the 15th of March.

Tax Planning/Strategies

Tax planning is the analysis of a financial situation or plan to ensure that all elements work together to allow you to pay the lowest taxes possible. Considerations of tax planning include the timing of income, size, the timing of purchases, and planning for expenditures.

Tax Compliance

At M. Kohn & Co we make tax compliance simple and stress-free. Tax compliance involves far more than filing returns on time; it’s about understanding your obligations, staying proactive, and implementing strategies to adhere to ever-changing regulations. Proper tax compliance not only prevents costly penalties but also fosters financial stability and peace of mind. Our experienced team is dedicated to helping you navigate the complexities of tax regulations, ensuring you meet your obligations while minimizing penalties.

Let M. Kohn & Co take the stress out of tax compliance. With our expertise by your side, you can focus on what matters most – growing your business and achieving your financial goals.

Tax Return Preparation

Navigating the complexities of tax return preparation can be daunting, but our dedicated team is here to simplify the process for you. Our Tax Return Preparation Services are designed to ensure that your returns are filed accurately and on time, while maximizing your potential deductions and credits.

We start by gathering all necessary financial documents and information, carefully organizing your data to create a comprehensive picture of your financial situation. Our experts are well-versed in federal and state tax regulations, enabling us to select the best approach and filing statuses for your specific circumstances.

Throughout the preparation process, we take the time to understand your unique financial landscape, ensuring that you benefit from all available tax breaks that align with your needs. We meticulously review for accuracy, helping to avoid costly mistakes that could lead to delays or penalties.

In addition to our meticulous preparation services, we stay up to date on the latest tax laws and regulations, providing you with insights and advice that could enhance your overall tax strategy. Our aim is not only to facilitate compliance but also to empower you with knowledge that can lead to better financial outcomes.

Let us handle the intricacies of tax return preparation, so you can focus on what matters most to you. With our expertise by your side, you can approach tax season with confidence, knowing that you have a dedicated partner committed to your financial success.

Multi-State Taxation

Navigating the complexities of multi-state taxation can be challenging for individuals and businesses operating across state lines. Our Multi-State Taxation Services provide expert guidance to ensure compliance with varying tax laws and regulations. We assist in understanding tax obligations, managing filings, and optimizing tax strategies to reduce liabilities. With our support, you can confidently address multi-state tax issues and focus on your growth and success. Let us help you with multi-state compliance and maximize your tax efficiency.

Voluntary Disclosure

Our Voluntary Disclosure Services provide vital assistance for individuals and businesses seeking to rectify prior tax noncompliance. We guide you through the process of proactively disclosing unreported income or tax obligations to the IRS or state authorities. Our expert team formulates a strategy that minimizes penalties and provides representation throughout the disclosure process. With our support, you can achieve certainty, compliance, and a fresh start toward your tax responsibilities.

Tax Audits

Our Tax Audit Services offer professional support for individuals and businesses facing an IRS or state tax audit. We guide you through the audit process, ensuring that all necessary documentation is organized and prepared. Our experienced team represents you during the audit, answers inquiries from tax authorities, and works to resolve any discrepancies. With our expertise, you can navigate audits confidently and aim for positive outcomes while minimizing stress and potential penalties.

Tax Resolution

Our Tax Resolution Services are designed to assist individuals and businesses facing tax issues with the IRS or state tax authorities. We provide comprehensive support, including negotiation of payment plans, offer-in-compromise, and representation during audits or disputes. Our experienced team works diligently to resolve tax liabilities, minimize penalties, and develop strategies for future compliance. Trust us to help you navigate the complexities of tax resolution and achieve peace of mind.

Tax Exempt Application and Filings

Our Tax Exempt Application and Filing Services help nonprofit organizations navigate the complex process of obtaining and maintaining tax-exempt status. We assess eligibility, submit tax-exempt applications, ensure compliance with legal requirements, and assist with annual filings. Our expert team provides ongoing support and education to ensure your organization stays compliant and focused on its mission. Let us help you secure the tax benefits that foster your charitable goals!

Accounting and Assurance

We adopt a growth mindset. We stay atop of the rapidly evolving industry regulations to proactively prepare for accurate auditing.

Our thorough and stringent review of records paves a road for growth and differentiation strategy. We mind the GAAP, bringing together your business and third party investors through transparent and clear assurances.

Whether you are polishing your internal processes or dealing with third party relationships, your partners at M Kohn & Co. employ streamlined service and suave strategy to see you succeed.

Financial Statement Audit

A financial statement audit is an independent examination of an entity’s financial statements and accompanying disclosures by an auditor. The primary goal is to provide an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework (such as GAAP). The audit provides assurance to stakeholders, such as investors and creditors, that the financial statements are reliable.

Reviewed Financial Statements

A financial statement review is a type of engagement conducted by an accountant to provide limited assurance that there are no material modifications needed for the financial statements to be in conformity with the applicable financial reporting framework (such as GAAP). A financial statement review is less comprehensive and less costly than an audit, making it a suitable option for entities that do not require a full audit but still need some level of assurance for stakeholders like lenders or investors.

Financial Statement Compilation

A financial statement compilation is a service where an accountant assists management in presenting financial statements based on information provided by the entity. The accountant compiles the financial data into a standard financial statement format, such as a balance sheet, income statement, and cash flow statement. Unlike audits or reviews, compilations do not provide any assurance that the financial statements are free from material misstatement. Compilations are generally less expensive than audits or reviews, making them suitable for smaller businesses or those not requiring higher levels of assurance.

Single Audit / Program-Specific Audit

A single audit is a comprehensive review of an entity’s financial statements and its expenditures of federal awards. It provides assurance to the federal government about the entity’s financial management and compliance with grant requirements. A single audit includes two main parts: i) Financial Statement Audit: an audit of the entity’s financial statements to ensure they are presented fairly, and ii) Compliance Audit: an audit of the entity’s compliance with federal program requirements, including a review of internal controls and a Schedule of Expenditures of Federal Awards (SEFA). A program-specific audit includes just the Compliance Audit component.

Agreed Upon Procedures and Attestation Agreements

Agreed-upon procedures (AUP) engagements involve an independent auditor performing specific procedures on financial or non-financial information as requested by the entity. The procedures are tailored to the entity’s needs and agreed upon in advance. These can include examinations, confirmations, observations, inspections, reconciliations, and analyses. Unlike audits or reviews, AUP engagements do not provide an opinion or assurance. Instead, the auditor reports factual findings based on the procedures performed. AUP engagements are useful for entities needing specific information or verification without the need for a full audit or review.

Advisory

Making financially sound decisions is what moves your business ahead. We think off the beaten path to direct you down the straight road- and up the corporate ladder.

Understanding that your business’s success is your family’s happiness, our advisory professionals guide you to maximize your returns.

At M Kohn & Co, we determine the best asset classes, monitor investment performance, provide guidance and rebalance portfolios. We are your trusted partners, the translators between finances and operations, whose only aim is to maximize your returns.