Tax Management:

Ongoing, Effective Planning

Our tax management services are designed to ensure that you receive sophisticated advice from professionals who are committed to watching over their financial future, maximizing their tax benefits and avoiding any conflicts. We believe effective tax planning is an ongoing activity based on a close understanding of each client's financial affairs, tax history and financial objectives. That's why we encourage you to consult with us throughout the year regarding any current or potential concerns or decisions. This constant contact also allows us to keep you apprised of changes in the constantly evolving tax laws, ensuring you're always well within the boundaries of state and federal tax laws. Our comprehensive tax services include:

Tax return preparation — Each year, JPS assists hundreds of businesses and individuals in filing federal and state taxes. We believe preparing your return is not merely a mechanical process of transferring numbers to tax forms. Instead, we strive to become familiar with you and your financial circumstances in order to better serve your needs throughout the year, and we’re always on the lookout for alternatives and opportunities to save tax dollars.

Tax planning for businesses and individuals — We offer a full range of tax planning services for businesses and individuals, both in terms of short-term and long-range planning. Whether you're the owner of a closely held business or an individual interested in finding ways to reduce your income taxes, the professionals at JPS can help ensure that you are paying the correct amount of taxes.

Estate planning — Proper estate planning is critical in protecting the estate you've built and ensuring the welfare of the people you love. And since estate taxes may be the single largest tax expense you'll ever face, an unplanned estate could cost your heirs much of what you've earned during your lifetime. Thorough planning requires knowledge about estate taxes, income taxes, trust operations, family dynamics, business succession planning and so much more. There is no "one-size-fits-all" estate plan, and JPS is ready to help you tailor a plan to meet your individual needs and objectives.

Retirement and fringe benefit plans — With payroll expenses escalating, the cost of attracting and retaining quality employees is also on the rise, often exceeding 30 percent of payroll. JPS can assist you in formulating a cost-effective benefits package that achieves your goals, tailored to provide maximum benefit to your company and your employees. Services include plan analysis and design; assistance with implementation and administration of plans; IRS and Department of Labor compliance monitoring; plan audits and tax compliance filings; and more.

Entity selection — In starting any business venture, one of your most crucial decisions is on of the first you will need to make - which entity form should you use? We can help you choose the legal form in which to operate a business by reviewing the tax and non-tax attributes of each organizational form.

Representation before tax authorities — Although a very small percentage of tax returns actually get audited by the IRS or state taxing authorities, it is critical that you have knowledgeable representation if your return is chosen for examination. As experienced tax professionals, we know how to organize and present the information requested by the tax authorities. We also have resources to successfully manage tax controversies with the IRS, assisting clients in negotiations to achieve the best settlements possible.

State and local tax services – Businesses operating in multiple states must navigate and comply with a variety of state and local taxes imposed on legal entities, their owners, and transactions of products and services. Each state has unique tax rules and underlying theories, and the application of these rules often results in distinctly different liabilities based on slight differences in the facts of a business or transaction. At JPS, our tax specialists are experienced in the nuances of state and local taxation and take a proactive approach in guiding clients via our multi-state tax compliance and planning services. In addition, our membership in CPAmerica International gives us direct access to experienced CPAs in virtually all states across the country. Our key services in this complex area include:

Tax return preparation
Analysis of current and future posture (including Nexus issues) and evaluation of exposure relative to income tax, franchise tax and sales tax liabilities
Tax planning, both strategic and transactional, and implementation
Audit defense