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Employment Tax Services

 

Minimizing federal, state and local liabilities

Overview

For many companies, employment taxes are the single largest tax burden – yet often receive little attention. As states become more aggressive and as laws at all levels become more complex, the dual challenge of minimizing both tax liability and compliance risk is greater than ever before and requires an innovative approach.

For virtually all companies, optimizing employment tax strategies is an essential factor in maximizing bottom-line performance. With accounting, legal, and consulting backgrounds, TaxBud’s dedicated Employment Tax Services professionals have extensive experience at the federal, state, and local levels, across a wide range of industries. We help clients of all sizes identify and implement ways to reduce their current and future employment tax burden, and take advantage of opportunities to recover overpayments from previous years.

Our services are categorized into four primary areas:

  • Refunds and Savings

  • Compliance

  • Controversy

  • General Consulting

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    Refunds and Savings

    Delivering employment tax savings to companies.

    For companies going through a merger, acquisition, reorganization, or any other type of transaction involving the movement of employees, there are a lot of moving pieces to consider, including the possibility of employment tax savings. Often overlooked, employment tax refund reviews help companies to avoid overpaying taxes by taking credit for the social security, federal unemployment, and state unemployment taxes paid by the predecessor employer within the same calendar year. Acquiring employers may also be able to save costs by utilizing the predecessor’s state unemployment experience history.

     

    Compliance

    Navigating compliance complexity.

    In recent years, tax laws have become more complex, leading to an increased risk and cost of compliance for many companies – especially those who operate in multiple jurisdictions.

    At TaxBud, we have significant experience helping companies of all sizes, ensuring our clients comply with federal, state, and local employment tax reporting requirements, everywhere they do business.

    Our compliance services address the following:

  • Employment tax process reviews

  • Year-end W-2 / 1099 assistance

  • Employment tax reconciliation

  • Other day-to-day matters as they arise with our clients

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    Controversy

    Protection and support, when you need it.

    In the world of business, anything can happen. And when it does, companies need to be ready. Our Employment Tax Services Practice helps with the unexpected, offering representation and mediation that can reduce or eliminate assessments by state agencies or the IRS.

    Controversy addresses the following:

  • Audit defense

  • Issues include expense reimbursements, fringe benefits, independent contractors, executive compensation, equity compensation, and other matters

  • Penalty protest and controversy resolution

  • Penalty-free adjustments

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    General Consulting

    The specialized services our clients need.

    When it comes to employment tax services, having in-depth knowledge of the federal and state employment tax laws can help companies stay compliant – and decrease their tax burden and risk. At BDO, our Employment Tax Services Practice does just that, offering a wide variety of services that include:

  • Annual state unemployment tax rate reviews

  • Penalty-free adjustments

  • Federal and state employment tax planning

  • Employment tax reconciliation

  • International employee consulting