US Tax Services

Indirect Tax

Companies are facing increasingly complex transaction tax issues. Tax laws continue to change, and taxing jurisdictions are aggressively pursuing audits in an effort to cover their budget shortfalls.  Then add the new nexus changes due to the Wayfair case and the creation of economic nexus, having a tax consulting partner you can trust is essential. People who know the industry and can provide solid advice with proven strategies that apply to the transaction tax needs of your business. We are those partners. We create tax solutions for long-term success, not just short-term fixes. With professional execution and diligent attention to detail you can have confidence your business is in good hands.  Some core services are:

Transaction Tax Systems Implementation

Many businesses use third-party tax software to manage tax compliance, audits and reporting. With changing tax laws and complex reporting requirements the peace of mind gained from using this software can be a valuable asset. It can reduce risks associated with incorrect tax calculation, eliminate improper reporting and provide notification of inaccurate compliance. Whether you’re implementing new software or want to learn how to more effectively use your current system, we have the expertise and knowledge to ensure you’re getting the most value from your investment. From Vertex and Taxware to Thomson Reuters, we’re familiar with leading industry tax software platforms. We’ll help you analyze your system, data and reporting to be sure you’re utilizing the product to it’ full potential. Not sure which software is best for your business? We’ll help you examine all available options and select the one most beneficial for your industry and company requirements.

One of the biggest benefits of transaction tax systems is integration with current business processes so everything works together smoothly. This improves efficiency and ensures greater accuracy in tax reporting and payments. We have experience with all aspects of integration from various ERP systems to custom mergers with web-based storefronts and mainframe systems.

Outsource Compliance Services

A company may determine they have nexus and register in several taxing jurisdictions and then realize that comes with an increase in your sales and use tax compliance burden.  We eliminate that burden by providing turn-key sales and use tax returns compliance services.  We use the most up to date compliance/returns software and have an efficient and painless workflow and process that allows our clients to focus on their more important daily tasks.  Our services include monthly tax account reconciliation, returns preparation, e-filing, and payment processing.  These services are provided at the most competitive per returns pricing model.

Tax Research

Taxation can be a complicated framework. Navigating tax regulations armed with the knowledge and tools you need is important for the success of your business. Whether you need tax research for defending an audit, custom taxability grids suited to your particular industry or powerful databases to assist your executives with complicated financial decisions, we can help.

Audit Defense

Departments of Revenue routinely conducts audits to ensure proper payment of state taxes. With budgets stretched tight, there is often pressure for auditors to be especially strict during the auditing process in order to generate more revenue. We understand the importance of a properly conducted and defended audit. We will help you document and defend your position, often resulting in a lower tax assessment.

Reverse Audits

For reasons ranging from a weak procurement processes to improperly calculated tax returns and unapplied tax exemptions, some companies find they’ve overpaid their state taxes. A reverse audit can be conducted by FI Group for the purpose of uncovering tax overpayments and revealing hidden refund opportunities.

Sometimes a review by FI Group of a company’s tax compliance procedures and reporting system reveals erroneous tax payments. When this occurs, we work with your management team to determine the proper course of action. A reverse audit can result in recovery of overpaid taxes.

If a reverse audit will be beneficial, we’ll work with you to uncover opportunities to obtain refunds from vendors and/or the state. Reverse audits are conducted on a contingency basis. We will not an issue an invoice until you have received the refund.

Another benefit is that we provide a Statement of Findings detailing guidance on how the client can prevent future overpayments.

Other General Services

• Nexus Studies
• Registration filings
• Voluntary Disclosure Agreements

Direct Tax

Cost Segregation

This is an application by which commercial/industrial property owners accelerate depreciation and reduce the cash flow that owners often use to reinvest in business, purchase more property, apply their principal payment or spend on themselves.

State/Federal Incentives

• Establish new facility or expand existing facility
• Increase employment within a state
• Incurring costs for training initiatives
• Incurring significant research and development expenditures

Real Estate/Personal Property Tax Assessments

With state and local taxing jurisdictions hungry for revenue, and with so many tax issues competing for your in-house resources’ time, it’s easy to overpay your real estate or personal property taxes. Assessors may overvalue your properties.  You can miss exemptions.  Many companies pay both taxes on the same assets.  And there is a steady stream of decisions that can affect your personal property taxes.

Our property tax professionals know how to identify and document valuation issues, and how to use that information to effectively challenge your assessment.