Press Room

October 09, 2011

The Importance of Holistic Tax Reviews for Private Companies: The WTAS Tax 360 Program

The Importance of Holistic Tax Reviews for Private Companies: The WTAS Tax 360 Program

Over time many successful companies make one-off tax decisions that later prove to be no longer optimal. The notion of a Tax 360 program is to provide a holistic evaluation of a company’s tax position. The goal is to produce a diagnostic review that becomes the “road map” for implementing planning techniques that integrates the company’s and owners best interests into a cohesive tax plan. This type of review could start with a look at a company’s present structure with an eye towards minimizing all taxes – – entity level, trust level and individual. Consideration should be given to the most tax efficient ownership structure, considering use of various entities such as C-Corp, S-Corp, LLC/LP and Trusts. Factors include federal and state rate changes, passive activity losses, non-business expenses and international aspects.

Michael Maglio and Andrew Bernard are Managing Directors at WTAS. Maglio concentrates on integrating tax and financial planning to create long-term strategies for his clients. Maglio has over 20 years experience providing financial tax and investment advice to high net worth individuals, corporate executives and family groups. Bernard has over 27 years experience with U.S. and international tax matters.

New Jersey Technology Council (August 9, 2011)

View the article on njtc.com