We prepare the following returns:
- Individual Income Tax Returns (Form 1040)
- S and C Corporations (Forms 1120S and 1120)
- LLC’s and Partnerships (Form 1065)
- Trusts (Form 1041)
- Split Interest Trusts (Form 5227)
- Non-Profits and Private Foundations (Forms 990, 990-T and 990PF)
- Gift (Form 709)
- Estates (Form 706)
- All State Returns
- Exemption Status Applications (Forms 1023 and 1024)
Tax Planning and Projections
Each year provides unique opportunities and obstacles for our clients which need to be taken into account when planning for taxes. The team at MHP recognizes that getting to know our client's individual situations is key to providing personalized solutions to minimize tax liability. By understanding our client's personal needs and individual situations we are able to effectively assist in planning from the purchase or sale of assets, to planning for the effect of changing tax laws. MHP has the expertise to help.
IRS Correspondence and Representation
As Certified Public Accountants we represent our clients with matters concerning all taxing authorities. Our expert team has amassed decades of experience representing our clients to successfully resolve their issues with the IRS, States and local taxing agencies. Our tax professionals have also served as expert witnesses and provide consultation with legal advisors.
Effective estate planning provides security for your family and reduces or eliminates the tax due on the transfer of your business and other assets. With our experience, we can effectively guide you through the complex process of directing your assets to those that you wish to have them with as little tax effect as possible.
A cost segregation study is the process used to identify property components that are considered "personal property" or "real property" under the federal tax code. Segregating these assets based on their depreciable lives allows our clients to take depreciation deductions over shorter durations. Without this study, purchases of commercial properties known as real property would be depreciated over a life of up to 39 years. A cost segregation needs to be performed to hold up to IRS scrutiny and is a valuable tool used in tax planning.
When operating a business or working internationally, our clients feel supported knowing that MHP has the experience to assist them with what they will encounter both in the US and abroad. As an RSM alliance firm we are partnered with one of the world's largest accounting firms with offices in 120 countries, so no matter where our clients are in the world, MHP is there to help.
State and Local Taxation
There are approximately 9,600 different taxing authorities in the United States, including 43 states, that impose an income tax. Our clients do business in almost all of them. We have worked with multiple taxing authorities assisting our clients to successfully become compliant and maintain compliance with State and local - property, ad valorem, sales and use tax codes from around the country.
Business Planning and Consulting
MHP is there to support our clients, to answer their tough questions. We assist our clients to make strategic choices by leveraging our expertise and research capabilities to obtain the information needed to make an informed decision. We help our clients with acquisitions, sales, mergers, formations and other planning issues with an eye on maximizing owner value.
A reliable valuation requires an in-depth analysis of the business being valued. However, this analysis goes beyond the entity's operations to include the economy, industry and company risk, management, future growth, profitability and sustainability of the operation. There are many reasons to have a valuation done, each reason requires the valuer to adjust to the purpose. MHP provides valuation services to our clients for many purposes such as, but not limited to: business sales, mergers and acquisitions, gifting, estate planning and divorce.