CFO Squad Offers Corp. Tax and FBAR Services

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NEW YORK, N.Y. – (Dec 1st, 2015) The CFO Squad has announced a new division, the CFO Tax Squad, to provide Corporate Tax Planning, Compliance & Preparation services; complimenting its core offerings of outsourced CFO services, SEC reporting, audit preparation, and other financial business services targeted towards smaller and fast growing companies.

Compliance and preparation of tax returns is only the first step in a complete tax strategy.   Tax planning is also an essential element in a company’s growth and success from start-up companies to complex international companies.   The CFO Squad’s tax division is pro-active in its efforts to minimize a client’s overall tax burden reviewing reorganization plans, mergers & acquisitions, shareholder issues, executive compensation, or plans to expansion plans.

The CFO Squad’s Tax Division provides tax services for corporations both domestic and international seeking preparation and filing of U.S tax compliance, plus various state & local sales, use & income taxes as well as strategies for companies doing business across multiple tax jurisdictions and related tax treaties.

No longer can companies calmly ignore taxes due to the lack of taxable income.

Today, enforcement and the “automatic” statutory penalties for failure to file have become very expensive.

Many corporations, trusts, partnerships and individuals are likely unaware of their requirement to file their Foreign Bank Account Report (FBAR) with the IRS (FinCen Form 114) as part of the Financial Crimes Enforcement Network.  Failure to do so can quickly add up to tens or hundreds of thousands of dollars in penalties as well as other civil and criminal penalties.

“Often our clients have subsidiaries outside the U.S. with foreign bank accounts, and it can be a very serious compliance issue if they don’t file the appropriate forms and reports like a FBAR,” said Jay Cardwell, COO and Tax Director for CFO Squad.   “After having numerous clients ask us for these kinds of corporate tax services to compliment our core CFO services, we decided to create a formal tax division. “

The CFO Squad’s Tax Squad compliments its Pre-Audit Preparation and SEC Financial Reporting Services.  Clients using the CFO Squad Tax Services appreciate the enhanced coordination and added value they receive in preparing their tax filings, along with their SEC filings (10K, 10Qs, etc.) handled  in coordination [JSC1] by The CFO Squad.  Efficiencies naturally occur when tax preparation work papers can flow directly from the financial statement work papers.   As a result, The CFO Squad can save its clients a significant amount of time and money.

The CFO Squad’s Tax Squad provides tax services for corporations both domestic and international seeking preparation and filing of U.S tax compliance, plus various state & local sales, use & income taxes as well as strategies for companies doing business across multiple tax jurisdictions and related tax treaties.