Tax Planning in an
Businesses are facing challenges we could have never imagined, requiring owners to react quickly to the changing tax environment created by the CARES Act and other legislation. As a result, companies’ tax situations became more complex seemingly overnight. Our tax advisors are continuously monitoring the situation closely and are prepared to review your business’ tax situation to strategically identify solutions to not only navigate the current crisis, but to come out stronger on the other side.
Tax Planning in an Uncertain Environment
- 2020 tax planning strategies (and beyond)
- CARES Act second chances such as QIP, interest expense limitations, NOL carrybacks and more
- Long-term tax planning strategies (depreciation strategies, income and deduction acceleration or deferral strategies)
Proactive Tax Planning Strategies
Check out how we’ve helped clients like you take proactive steps to come out stronger on the other side.
“After careful review of the PPP loan requirements and how they impact our clients, the Sikich CARES Act taskforce identified an opportunity for a specific client with a diverse business model, in which a portion of their company met the PPP eligibility requirements. This client, under our direction, secured a multi-million dollar loan to assist them in continuing their business operations and maintaining their labor force within that division. In my opinion, this was a major tribute to our team of advisors, who studied and learned this Act on behalf of our clients.”
“We assisted a large business in documenting the economic uncertainty they faced when they applied for a Paycheck Protection Program (PPP) loan. While the company had gathered the necessary materials at the onset of the coronavirus pandemic, we helped them organize and analyze the information so that they could support the uncertainty they faced at that time and warrant their need for this loan.”
"We advised a Milwaukee client with a manufacturing plant in Mexico on the restructuring of their foreign operations in a manner that allows them to take advantage of the QBI deduction and save approximately $800K in taxes annually.”
“In response to tax reform, our-in-depth analysis uncovered a significant tax saving opportunity. A net tax savings of over $68,000 was generated by converting from an LLC to an S-Corp and restructuring owner compensation.”
“In response to tax reform, our-in-depth analysis uncovered a significant tax saving opportunity. A client reduced their taxable income by $130,000 by doing a change of accounting method to simplify accounting for inventories.”
“We advised a Milwaukee manufacturer through an acquisition and provided subsequent business advice resulting in $400,000 in annual tax savings.”
“Our Sikich advisors immediately provided us with creative, tax-advantageous solutions—offering depths of resources and knowledge. Since we approached Sikich more than three decades ago, their team has been pivotal in helping us manage our operational complexities and challenges. We continue to rely on Sikich not just as our business consultant, but as a trusted partner in our growth.”
Jim Voelz, President/Owner
The Redmond Company, a commercial design + build company
“Out of our 100+ product and service suppliers, I would put Sikich in the top 5 percent. Whenever we need help, their team will come in a minute’s notice, no questions asked, and the job always gets done.”
Phil Knoebel, CEO
Renaissance Manufacturing Group, a multi-ferrous metal caster
“The people at Sikich are intelligent and consistent—I have no doubt that I will continue to work with them through all of my business’ challenges and growth. They are the only firm I know that can meet my company’s expectations and position us for rapid advancements.”
David Wierdsma, President
Everything 2 Go, a wholesale company
“2020 brought a lot of unique challenges for businesses. We were lucky to have Sikich on our side to guide us through everything within the CARES Act. It would have been impossible to digest our options and secure the necessary resources to keep our business operating without their team of professionals.”
Lexi Southall, President, Brieser Construction Co.
When your business is navigating uncertain times, you want access to the latest guidance and timely advice, not just a bill for your tax return. To meet with our experts and review your current tax situation, contact us today.