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Income Tax Compliance and Consulting

Planning effectively for federal and state tax laws and regulations


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The issue

The environment of income taxes, with ever-changing rules and regulations, is often the most complex area of business and personal financial planning. With the ongoing changes in tax laws and other issues, high-net-worth individuals, in particular, have much to consider when planning for income tax compliance. The cost of federal and state income taxes is a major consideration and, if not managed carefully, even one tax or regulatory change might significantly impact your bottom line. With income tax compliance first in mind, you also should consider how investment decisions affect your taxes annually and evaluate other tax-sensitive decisions.

In short, income tax issues affect virtually every aspect of your financial situation, including retirement and estate planning, insurance, compensation and benefits options, choice of entities, and many more considerations. Major life events — such as marriage, divorce, relocation, and the sale of a business — also have significant influence. It is essential that you perform informed tax planning on a year-round basis, and in some circumstances, on a multiyear basis.

Our approach

Deloitte’s Private Company Services group can help you explore tax-savings opportunities and prepare for changes in the tax and economic climate. Experienced in serving the complex needs of business owners, leadership, their families, and family offices, we can help you evaluate the tax consequences of transactions and other major decisions and assist in structuring them with your tax, business, and personal objectives in mind. Our specialists leverage Deloitte's standardized processes and innovative technology tools for a high-quality and cost-effective approach to your tax compliance and consulting needs, while tailoring our services to meet your individual situation.

An effective approach to income tax matters requires year-round planning. In addition to local resources, our team includes experienced tax practitioners based in Washington, D.C., who continually monitor tax legislation and regulations. We strive to provide you timely relevant information regarding new laws, regulations, and court decisions. We regularly communicate with the IRS and other taxing authorities on tax matters.

Through Deloitte Touche Tohmatsu (DTT), we can provide you with access to international resources at DTT member firms to help with income tax, residency, and cross-border tax issues.

Your Deloitte advisor is a personal link to the knowledge and resources our organization has to offer. Our tax practitioners can assist you with addressing tax issues related to your specific situation or financial strategy, including:

  • Specific transactions
  • Choice of entities
  • Change of employment
  • Employment contracts
  • Change of residence
  • State residency issues
  • Tax impact assessment of investment opportunities
  • Cash-flow analysis
  • Stock option planning
  • Alternative minimum tax (AMT) liability planning
  • Partnership matters
  • State income tax planning
  • Estate, gift, trust, and charitable planning
  • Retirement planning
  • Cross-border tax issues
  • IRS and state examinations (audits)
  • Quarterly projections and estimated payments preparation

The Deloitte difference

The professionals in our Private Company Services group have experience with the many complex issues related to income tax compliance planning, and we can tailor our services to your specific circumstances. We offer:

  • National and international experience with in-depth knowledge of domestic and international income tax systems, and a commitment to assisting you in your advanced income tax planning decisions to manage liabilities and compliance.
  • A lead advisor who has experience working with wealthy families who have complex income tax planning needs.
  • Collaboration among our Deloitte affiliated U.S. firms for ready access to additional valuable resources, which can provide information or assistance relevant to your circumstances.
  • Services including family wealth planning, individual income tax planning and compliance, and estate, gift, trust, and charitable planning.
  • Access to the broader resources of Deloitte Touche Tohmatsu member firms for additional business needs that may arise.

Our ultimate goal is to develop a deep and lasting relationship with you. Our reputation for quality services is built on long-term mutual respect and trust. We look forward to helping you address your goals in this important planning area.

About Deloitte Private Company Services

Private Company Services is dedicated to providing detailed and objective tax and wealth planning advice and services to private companies and their owners, and affluent individuals and families.

Part of our Business Tax Services practice, Private Company Services coordinates global tax services being provided by member firms of Deloitte Tohmatsu Limited (DTTL) that are dedicated to addressing the range of challenges that affect the success of the business, and influence the professional and personal goals of a business owner and individuals and families with significant assets. Our goal is to work with you to plan and execute effective business and tax planning, responding appropriately to new legislation and evolving market conditions. As your trusted advisor, we understand that integrated tax planning is critical and offer a range of services including entity income tax planning and compliance services, individual tax and wealth planning matters, international tax, and family office services.

We also draw on the extensive resources of the Deloitte U.S. firms through Deloitte Growth Enterprise Services. Our team of Deloitte Growth Enterprise Services professionals delivers a distinctive client experience through service offerings tailored to address the unique needs of mid-market and privately held companies. The depth and breadth of Deloitte Growth Enterprise Services crosses Deloitte Tax, Audit and Enterprise Risk Services, Consulting, and Financial Advisory Services to address your evolving and complex needs.

To find a member of the Private Company Services group who specializes in your area of interest, please contact us at PrivateCompanyServices@deloitte.com. Learn more about our Private Company Services practice by visiting our website at www.deloitte.com/us/privatecompanyservices and learn about Deloitte Growth Enterprise Services at www.deloitte.com/us/DGES.

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