Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business […]
The CPA and Advisory Firm Focused on Closely-Held Companies and their Owners
Wouch, Maloney & Co., LLP is a regional certified public accounting and business advisory firm uniquely focused on the financial success of closely-held companies and their owners.
Clients value our personalized service, deep industry knowledge, and technical expertise. They count on us to look ahead, anticipate their needs, and initiate solutions.
When an issue arises, they call us first.
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Wouch, Maloney & Co., LLP provided a valuable service to a new client by identifying a lucrative industry-specific tax credit. By calling upon our expertise in a wide variety of industries, we were also able to diagnose that the credit was available but not taken on past returns prepared by the prior accountant. In doing so, we were able to greatly reduce the client’s past, present and future tax, as the annual credit carries forward to subsequent periods.
Wouch, Maloney & Co., LLP provided valuable assistance to several of our professional athlete clients by working closely with their respective payroll departments to ensure residency and reciprocal agreement issues were appropriately handled. As athletes are subject to tax in every state in which they play, there are significant administrative considerations in play that all too frequently are not correctly handled by the teams.
Product Pricing and Cost Analysis
Wouch, Maloney & Co., LLP successfully assisted a major client with substantially improving its profitability by performing a study of its product pricing and current cost structure. The study enabled the client to identify areas of underpricing relative to competitors, identified specific costs related to product lines and assisted the client in creating procedures to monitor specific costs and apply them to various pricing models. As a direct result of implementing changes to its product pricing, the client’s bottom line increased over 100%, strengthening the Company’s financial position considerably.
Wouch, Maloney & Co., LLP provided valuable assistance to a client in analyzing a specific investment opportunity. The investment was suboptimal for the client with respect to both tax and retirement planning based on its structure and contractual requirements. We were able to assist the client in choosing an alternative investment plan that saved substantial income taxes, preserved retirement benefits and achieved the goals desired while avoiding the financial pitfalls of the original proposal.
Mergers and Acquisitions
Wouch, Maloney & Co., LLP successfully assisted a major client with structuring a buy-in. The buy-in encompassed a commercial real estate portfolio valued at over $166 million owned by 9 separate partnerships. Advice on entity selection and extensive tax planning resulted in a structure that was acceptable to the purchaser yet enabled our client to complete the transaction at a tax cost that was several million dollars less than the taxes that would have resulted from the original proposed structure.