Tax advisory

Tax advisory

Tax work in the United States has to sit close to the accounts. Computations, filings and positions taken with the Internal Revenue Service (IRS), with New York State, and with any other state or local tax authority that applies, should follow from records that are complete and from a clear reading of the relevant law and guidance.

We provide practical tax advisory and compliance support for companies and projects: federal, state and local income tax compliance, help with IRS matters, and sales tax support where this is part of the agreed scope, together with year-end tax health checks and assistance when an authority reviews a filing. Amounts are handled in U.S. dollars. The exact taxes and filings we can take on are agreed in the engagement letter and are limited to the work we are resourced to deliver.

Tax advice is coordinated with your accounting calendar and, where you also have an audit, with the independence rules that apply to that audit. We will not take on tax work for an audit client if doing so would compromise the audit.

Who it is for

Tax advisory and compliance support is for companies, project vehicles and other entities that need federal, state or local computations and filings prepared carefully, that want a year-end review of their tax position, or that need structured support in responding to the IRS or a state or local tax authority.

• Companies preparing federal, state and local tax computations and related filings
• Businesses that need support with IRS correspondence or examinations
• Entities with sales tax collection, filing or nexus questions in New York or other states
• Finance teams that want a year-end tax health check before filings are made

What is included

• Federal, state and local tax computations prepared from the accounting records and the applicable law
• Compliance support for IRS matters and for sales tax that is expressly brought into scope
• A year-end health check of the tax position, including obvious exposures and filing dates
• Written explanations of positions taken, so they can be revisited later
• Support in assembling responses and documents if the IRS or another authority opens a review

What you receive

• Tax computations and the working papers that support them, in U.S. dollars
• A short written summary of the tax position and of any items that need a decision
• Filing support for the returns that are included in the engagement
• An organized file if an authority requests information

Why it matters

Tax filings that do not follow the accounts, or accounts that ignore the tax consequences of a transaction, create avoidable risk. Treating tax as part of the close, rather than as a separate afterthought, is the more reliable approach.

We work with reference to federal tax law and IRS guidance, and to New York State and, where relevant, local tax requirements, and we explain our reasoning in writing. We do not claim to replace legal counsel on disputed or litigated matters, and we will tell you when a specialist or a legal opinion is the more appropriate next step.

How we work

Whether the engagement is a statutory audit or another assignment, we follow a clear sequence so that both teams know what happens next.

• Planning: Every engagement begins with planning. We take time to understand the entity or project, the applicable reporting framework, the people who will rely on the report, and the dates that matter to the board, lenders or funders. Scope, responsibilities and a realistic timetable are agreed in writing before detailed testing begins. We also agree the information we will need from management, and the points at which we will update you as work progresses. Good planning reduces last-minute pressure and helps both teams work in an orderly way.
• Risk assessment: Once we understand the entity, we assess the risks of material misstatement in the financial statements or, for a project review, in the expenditure and compliance areas covered by the terms of reference. This includes considering the business and its environment, the design of relevant internal controls, and areas that typically require judgment — such as revenue recognition, estimates, related-party transactions and going concern. The audit or review plan is then focused on those risks, so effort is concentrated where it will make the most difference rather than spread thinly across every account.
• Fieldwork: Fieldwork is the stage at which we obtain the evidence that will support our report. Depending on the engagement, this may include inquiry of management, inspection of documents, analytical procedures, confirmations, observation and substantive testing of transactions and balances. We work as far as possible from records that are already organized, and we raise questions and interim findings as they arise so that surprises are dealt with during the assignment, not in the final week. Fieldwork may take place at your premises, at our office in New York, or through a combination of on-site and remote work, agreed during planning.
• Reporting: When testing is complete, we evaluate the evidence as a whole, form our conclusions and discuss significant findings with management and, where appropriate, those charged with governance. For a statutory audit, the formal deliverable is the independent auditor’s report on the financial statements, usually accompanied by a management letter that records control observations and recommendations. For project or special-purpose work, we issue the report format required by the funder or the agreed terms of reference. We aim to explain our findings in clear language, so the report is useful as well as compliant.
• Follow-up: Issuing the report is not the end of a useful engagement. We walk management through the observations in the management letter or project report, distinguish between matters that need prompt attention and those that can be planned into the next cycle, and remain available to clarify our findings. Where we are reappointed, lessons from the current period inform planning for the next one — including information requests, cutoff procedures and any control improvements you have made. Follow-up is practical: the aim is a clearer file, fewer recurring adjustments, and a more orderly engagement the next time around.