Audit, tax, consulting, & wealth management leaders Plante - - PDF document

Year founded

1924

Total staff

2,200+

Partners & affiliated entity members

300+

Number of CPAs

• approx. 900

Locations

24

Foreign languages of professional staff

27

Prioritize client service over maximizing profits Provide direct access to firmwide expertise Deliver the best resources and talent for your specific needs

Audit, tax, consulting, & wealth management leaders

Plante Moran is among the nation’s largest certified public accounting and business advisory firms.

We provide clients with audit; tax; risk management; financial, technology, and business consulting; and wealth management services. Whether you have a single, specific need or require comprehensive services on a worldwide scale, we have the knowledge, experience, and resources to meet your goals. Our professionals specialize by industry. This means our clients benefit from the expertise and advice of teams who know their specific challenges and how to combat them. We bring the full resources of the firm to every client. Without competing office-level profit centers, clients receive the collective power of the firm regardless of location or geography.

Fast facts International services “One-firm” firm

A better approach to global growth.

For companies who want to move forward in complex global markets, we offer seamless service and scalable value. Drawing on a distinctive blend of audit, tax, and consulting offerings, a genuinely personalized service approach, and flexible reach through carefully crafted relationships around the globe, we help you bridge the gaps across borders while preparing you for the future, so you’re always ready.

• Our international concierge desk provides fast,

accurate answers to country-specific questions.

• We have multilingual experts at home and abroad —

including firm-owned offices in China, Mexico, Japan, and India.

• We’re a founding member of Praxity, AISBL, the world’s

largest global alliance of accounting firms, providing high-caliber service in 103 countries worldwide.

Colleague partnering Affiliates Stay in the know Culture counts

What makes Plante Moran different?

For one thing, our colleague partner system. Under this model, at least two partners are assigned to each client. This allows us to provide our clients with more diverse, expert, and well- rounded thinking to solve increasingly difficult day-to-day challenges and complex issues.

We have an award-winning culture based on one simple premise: we care.

The result? Seamless service from talented staff who love what they do.

percent of our clients would recommend Plante Moran to others.

98

consecutive years named to Fortune magazine’s list of “ 100 Best Companies to Work For” in America.

19

percent staff turnover rate in 2016 (17.2 percent industry average).

13.1

• 1. P&M Corporate

Finance

• 2. Plante Moran Cresa
• 3. Plante Moran

Financial Advisors

• 4. Plante Moran Group

Benefit Advisors

• 5. Plante Moran Real

Estate Investment Advisors

• 6. Plante Moran Trust
• 7. Plante Moran

Wealth Management

• 8. Plante Moran

Insurance Agency

• 9. Plante Moran

Living Forward™

1 2 3 4 5 6 7 8 9

Visit Plante Moran’s subscription center to opt in to any of our publications, from our industry-focused Perspectives e-newsletters, to timely alerts. It’s all available at:

plantemoran.com

Curtis Ruppal

curtis.ruppal@plantemoran.com 616-643-4069

Julie Corrigan

julie.corrigan@plantemoran.com 216-274-6509

plantemoran.com

We’ll evaluate your situation and provide a solution-driven path to mitigate risk and identify potential refund opportunities. A nexus review typically addresses income, franchise, and sales/use taxes, but can always include other types of taxes based on your needs. We have three review objectives:

• Determine which state taxes your company may be subject to
• Quantify the impact of differences in historical versus required filings
• Provide solutions to secure overpayments or mitigate exposure

Multistate Nexus Review & Planning

Manage risk and minimize taxes

Are you confident in your efforts to determine whether your business has sufficient contact with a state to be subject to its taxes, or nexus? The nexus standards are complex and constantly evolving as states challenge traditional approaches, such as having a physical presence or employees in a state, and continue the movement to economic or marketplace nexus. Many states have also increased their efforts to discover nonfilers and have rigorous programs to identify them.

Tailored approach Solution-driven path

Gain peace of mind knowing whether required returns have been filed, the potential impact of not filing, and with a solution-driven path that mitigates risk and identifies opportunities for tax refunds or future reductions.

• Identify and secure refunds from filing returns where not required. Due to the interaction of state tax laws, there may be

income/franchise tax refunds as a result of having nexus in additional states.

• Mitigate and eliminate exposure through the voluntary disclosure agreement (VDA) and amnesty programs. These programs
• ften result in significant tax savings based on limited look-back periods for filing tax returns, penalty abatement, and possible

interest reductions.

• Develop prospective strategies and recommendations for the realignment of business activities or operations that reduce your
• verall future state tax liabilities.
• Provide documentation with reasons for filing and not filing state tax returns, which could be used to support financial

statements.

• Expedite due diligence by providing potential buyers with an objective profile of your company’s activities.

plantemoran.com

Voluntary Disclosure Agreement

Mitigate or eliminate back tax obligations

Do you have tax skeletons in the closet? If you recently expanded into new states or experienced new activities in an existing state but continue to report your tax obligations the same way, you could be overlooking growing state tax liabilities. Unnoticed or ignored, your unreported tax liabilities and related nonfiling penalties continue to grow, turning into financial burdens that can threaten the health of your business. As states continue enhancing their discovery efforts, more and more businesses are being surprised by big bills for unpaid state taxes. A voluntary disclosure agreement is one of the easiest, and least costly, ways to comply with a state’s income, franchise, business privilege, gross receipts, sales, or use taxes. While a typical look-back period is three to four years, if a state discovers the issue first, it can go back further and include every year you’ve done business in the state.

When should you consider voluntary disclosure?

• You have multistate business activities and known or suspected outstanding or nonreported tax obligations.
• Your organization has business activities or investments in a state where you haven’t been filing.
• You recently completed a nexus review and need to mitigate identified risks.
• You’ve gone without previous audit inquiries, notices, or billings from a state where you want voluntary compliance.
• You want to minimize or eliminate unreported tax obligations.
• You’re considering selling your business and want to improve your tax position or minimize the issues raised during due diligence,

which can result in changes to the deal and/or significant state tax liability escrow amounts.

Reducing your liabilities: How we can help

We’ll represent your business anonymously and negotiate an agreement with state tax authorities. This negotiated agreement usually results in payments significantly less than any unreported tax liability. We’ll help: 616-643-4069

Curtis Ruppal

curtis.ruppal@plantemoran.com Evaluate available amnesty programs and determine if they’re more favorable than a voluntary disclosure. Evaluate whether activities that took place in a state require you to file. Assess the type of taxes you are subject to. Define the time period to include in your voluntary disclosure agreement. Eliminate or reduce past taxes. Reduce or eliminate nonfiling penalties and interest. Limit financial statement impact of an uncertain position. Alleviate due diligence issues or concerns.

Julie Corrigan

julie.corrigan@plantemoran.com 216-274-6509

plantemoran.com

Sales & Use Taxability Analysis

Rest easy with accurate sales & use tax determinations

Do you have questions about whether your sales or use tax processes ensure accurate tax collection and payment? Has your business undergone important changes, such as expansion, new sales channels, new management or ownership, or turnover in compliance personnel? Do your internal policies and procedures provide current, accurate information to support you in the event of an audit? Avoid taking on unnecessary financial risk for uncollected, or overpaid, sales tax. Underpay and you risk tax authority assessments and penalties; overpay and you may be overcharging your customers, making your pricing less competitive.

Actionable insights

Our experienced team of state and local tax specialists will conduct a comprehensive taxability study to:

• Define your transactions and their components according to the rules of each state in which you are required to collect tax.
• Identify documentation and reporting required for compliance.
• Evaluate and recommend policies and procedures for data collection to ensure compliance.
• Create an at-a-glance matrix with critical sales and use tax information. This includes the taxable or exempt treatment of each
• f your transaction types in all relevant jurisdictions and compliance requirements like filing and remittance due dates and

acceptable exemption documentation.

Guidance & tools to mitigate risk

Our taxability study and matrix will help you:

• Simplify sales and use tax documentation, collection, payment, and reporting.
• Help your accounting and compliance staff quickly find answers to questions.
• Avoid assessments and overpayments by knowing exactly which of your sales are taxable everywhere you operate.
• Be prepared with supporting evidence and analysis for transaction taxability in the event of an audit.

Curtis Ruppal

curtis.ruppal@plantemoran.com 616-643-4069 614-222-9137

Stephen Palmer

stephen.palmer@plantemoran.com

plantemoran.com

Tax law is growing more complex and nuanced. Our experienced team will take a careful look at your unique situation, recommend specific apportionment and allocation strategies, and assist with developing the infrastructure to ensure ongoing compliance. During our in-depth analysis, we will:

• Review your business, systems, and procedures.
• Analyze your apportionment factors — payroll, property,

and sales — based on your business’ operations, activities, and customers.

• Define your transactions and revenue streams.
• Uncover potential tax exposure as well as opportunities

to reduce it.

• Determine optimal sourcing of income to states, potentially

reducing overall apportionment factors even in home states and higher taxing jurisdictions.

• Develop clear policies and procedures to properly categorize

income going forward.

• Suggest improvements for better data capture to support

compliance and favorable tax positions.

Curtis Ruppal

curtis.ruppal@plantemoran.com 616-643-4069

Stephen Palmer

stephen.palmer@plantemoran.com 614-222-9137

Apportionment & Allocation Review

Leverage opportunity, mitigate risk

If you do business in multiple states, how do you ensure you’re apportioning and allocating income in full compliance with state rules while also maximizing opportunities to reduce tax liability? Properly analyzing your apportionment and allocation methods is critical to determining and minimizing your tax obligation. Underpay and you risk tax authority assessments and penalties; overpay and you unnecessarily reduce cash flow to your business and its owners.

Practical insight, sound strategy Staying ahead in a rapidly changing landscape

Let our experts navigate the nuances of apportionment and allocation rules that vary state-to-state to uncover potential opportunities for refund claims and future tax reductions, while also ensuring accurate compliance with tax laws and regulations.

• Gain confidence that your revenue streams are sourced appropriately to avoid over- or underpayment
• Position your business to take advantage of differences in state apportionment and allocation methodologies
• Strengthen your policies, procedures, and systems to ensure compliance
• Potentially reduce overall tax liability