Tax Advisory

Siegfried Advisory partnered with a Big 4 New York team to assist with the preparation of a Tax Provision for the carve-out of multiple entities of a consolidated group. Siegfried Advisory was able to provide support and understanding of various principles to assist accounting for income taxes for purposes of Carve Out Financial Statements. For this engagement, the client needed to reproduce historical financials for a select group of entities that were being sold to a third party.

Siegfried Advisory provided Tax Provision support to a pre-IPO company in the Philadelphia market. This contact did not have a current need for a full-time resource, but needed services to prepare for an IPO. This conflicted out the current audit firm for preparation of the Tax Provision. The audit firm preferred to submit a referral for Siegfried Advisory instead of a more direct competitor. Siegfried Advisory was able to provide the support for their year-end Tax Provision which led to additional work for their interim Tax Provisions. Additionally, Siegfried Advisory was able to demonstrate the capabilities of The Siegfried Group as a whole, which allowed for positive feedback and continued dialogue between Siegfried Resources and the potential client in the hopes that the continued discussion will lead to a need for Siegfried Resources.

Siegfried Advisory recently increased their professional resourcing offerings and has been working with a variety of public and private companies nationally. One example includes a resource acting as an International Tax Manager for a private multinational software company based in Cleveland. Another resource assisted with federal, international, and state tax compliance for a global shopping network company. Other companies have hired Siegfried to bring in a resource to implement new processes as well as find new efficiencies for old processes.

Siegfried Advisory supported the trustee by preparing the trust’s quarterly fiduciary accounting and beneficiary distributions. Upon review and approval by the trustee, Siegfried Advisory worked with the trust’s financial institution to distribute the money appropriately among the beneficiaries. Additionally, Siegfried Advisory prepared the annual tax returns as required for annual tax compliance.

Siegfried Advisory consulted with clients, their financial planners and/or attorneys to learn about their current and future financial, tax, and succession planning goals. After understanding the client’s goals, Siegfried Advisory was able to recommend the creation of various trusts and tax savings vehicles to achieve these goals. Siegfried Advisory then aided the client’s legal counsel by reviewing the legal documents prior to the trusts and vehicles being created and commissioned. Finally, Siegfried Advisory prepared the annual tax returns for the trusts and vehicles created and as required for annual tax compliance.

Siegfried Advisory assisted client with the setup and registration of their nonprofit. Siegfried Advisory was able to recommend the appropriate tax-exempt setup under the IRC code after understanding the nonprofit’s goals. Accordingly, Siegfried Advisory prepared the tax-exempt application and worked with the client to review the drafted organizational documents, bylaws, membership agreements by the client’s legal counsel. Finally, Siegfried Advisory prepared the annual tax returns as required for annual tax compliance.