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One of the leading causes of financial restatements continues to be the reporting of deferred taxes and valuation allowances. These matters are further complicated by the continuous development of tax legislation across all jurisdictions.
Additionally, accelerated reporting deadlines along with increased scrutiny placed on proper disclosures create further challenges to comply with all reporting requirements. It is clear that accounting for income tax grows more complex each year. While a significant component of a company’s financial statements, many do not have the necessary internal resources to prepare their income tax provision calculations. Schneiders Downs provides solutions to your company’s needs to ensure appropriate reporting in accordance with ASC 740 (formerly FAS 109). We offer specialists that are dedicated in the area of accounting for income tax and work closely with your accounting department to ensure proper reporting under U.S. Generally Accepted Accounting Principles (GAAP) and/or International Financial Reporting Standards (IFRS).
Our tax accounting specialists provide the following services:
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With one of the largest regional tax practices in the country, Schneider Downs Tax Advisors’ personal focus on clients and in-depth understanding of current issues ensures that clients are complying with tax filing requirements and maximizing tax benefits. Our industry knowledge and focus ensures delivery of technical tax strategies which can be implemented as practical business initiatives. Learn more at Tax Services.
Big Problem: Company Impacted By Ransomware.
Big Thinking: Restore System On-site And Avoid Six-figure Ransom.
Big Problem: Inefficient Tax Credit Realization.
Big Thinking: Identified A $900,000 Tax Credit, Nearly Twice As Much As Prior Years.
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Schneider Downs is a Top 60 independent Certified Public Accounting (CPA) firm providing accounting, tax, audit and consulting services to public and private companies, not-for-profit organizations and global companies. We also offer risk advisory, transaction advisory, digital consulting, wealth management, retirement plan solutions and investment banking services. Schneider Downs serves individuals and companies in Pennsylvania (PA), Ohio (OH), West Virginia (WV), New York (NY), Maryland (MD), metropolitan Washington (DC) and additional states in the United States with offices in Pittsburgh, PA, Columbus, OH, and McLean, VA.
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