CCA advises businesses and investors in assessing their obligation to file tax returns and pay taxes.
There are risks associated with paying too little, paying too much, or failing to properly comply with reporting requirements. We utilize a team-based approach focused on risk management, and work hand in hand with attorneys and other financial advisors to maximize results.
Along with more than 30 years’ experience with federal and state taxation, investments, and transition planning, our team holds advanced degrees in accounting, business administration, law, mechanical engineering, and taxation. The returns from your investment in our services include elimination of unwarranted tax liabilities, and avoiding costly scrutiny by taxing authorities.
Federal and state governments often require the results of careful research and planning to be displayed throughout tax filings. Our accredited professionals are dedicated to ensuring that each return is completed with a focus on quality and integrity. We provide outsourced tax departments that businesses can trust to meet filing obligations with preparedness. The tracking and coordinating of reporting responsibilities allows us to approach tax compliance engagements with accuracy and assurance.
Filing taxes at the federal and state levels are obligations of nearly every business and investment decision. From entity consideration to deferred compensation arrangements, we provide personalized, tax-efficient strategies for employers and employees alike. Our qualified team works to develop responsive solutions to strategic business and investment decisions that allow for seamless exit and transition strategies.
Our business valuation experts at CCA determine the value of your business and investment interests for estate and gift tax purposes. Also acting as consultants, they help to establish values used in gifting and management succession plans. With economic consideration as a highest priority, we are able to provide transactional analysis in a responsible and timely manner.
Cost segregation allows clients to depreciate a new or existing structure in the shortest amount of time permissible under current tax laws. Our cost segregation studies provide an immediate increase in cash flow by reducing the burden of current tax liabilities, while adhering to strict IRS regulations and requirements. We also provide REIT testing and compliance services to ensure that our clients meet annual income and asset requirements and maintain REIT qualification.
One of our specialty areas is the commercial real estate industry. The CCA team has been actively involved in organizations at the national level including the National Realty Association, the Real Estate Tax Institute and the National Association of Real Estate Investment Trusts. CCA team members were among the handful of professionals involved in the adoption of the UPREIT structure in the early 1990s which led to the proliferation of publicly traded REITs. We have served clients in the real estate industry for more than 30 years.
Members of our professional team are knowledge leaders in market segments including development and management, as well as in property uses: Hospitality, Office, Retail, Multi-Family, and Residential. Our clients include commercial architecture firms, management companies, builders and contractors, and building owners.
From financial reporting to principal tax planning, our back-and middle-office operations transfer responsibility and allow fund managers to focus on core operations. Our services provide accurate and timely reporting which minimizes administrative costs and reduces the need to “chase information”.
Contact from a federal or state tax agency can be concerning and stressful for a taxpayer. CCA is committed to assisting its clients in preventing, managing, and settling controversies and conflicts. The firm acts efficiently to resolve outstanding disputes by coordinating the efforts of the client’s internal team and professional advisors at each step of the resolution process. We have established an excellent reputation within the IRS and various state authorities as resolute advocates for our clients in matters of tax controversy, both civil and criminal.
Cendrowski Corporate Advisors’ real estate practice provides advice to a wide range of companies in the real estate industry, including:
Out clients own, develop, and manage properties in all asset classes across the country and internationally including…
The diversity of our clients and our extensive experience in both the real estate industry and taxation provides us with a thorough understanding of the business objectives, issues, and concerns of owners and investors, institutions and entrepreneurs, buyers and sellers of real estate, and borrowers and lenders around the world.
In the early 1990s, we were instrumental in the development of the first REIT/UPREIT structure, Taubman Centers Inc./Taubman Realty Group LP. We continue to advise our REIT clients on issues and nuances relating to the formation, ongoing compliance, and management of these entities.
We have over 35 years of experience in the most complex real estate matters, yet many of our clients are just entering real estate or have a relatively small portfolio.
The 2017 Tax Cuts and Jobs Act (2017 Tax Act) provides for an investment vehicle that allows you to defer paying tax on capital gains realized from the sale of capital assets. This investment vehicle is a Qualified Opportunity Fund (QOF). The opportunity zone program was created to encourage taxpayers to invest in business activities that bring economic growth to economically distressed areas. Our team can develop tax strategies to defer paying tax on capital gains realized from the sale of capital assets.
Qualified Opportunity zone properties are invested into through Qualified Opportunity funds. To qualify for tax deferral benefits, investors must place the capital gains into a Qualified Opportunity Fund within 180 days of realizing the gain. These benefits apply to individuals as well as corporations and flow-through entities. There is no limit to the amount of capital gains that can be deferred by reinvestment into a Qualified Opportunity Fund.
There are various levels of tax benefits that can be achieved under these rules, depending on the timing of the investment in a Qualified Opportunity Fund. These tax benefits include:
· Gain deferral: Gain from the sale of assets reinvested in a Qualified Opportunity Zone Fund are deferred until the earlier of (a) sale of the interest in the QOF or (b) Dec. 31, 2026.
· Gain elimination: Depending on how long an investment in a QOF is held, you may be able to permanently eliminate part of the gain. If the investment is held for 5 years, 10% of the deferred gain is eliminated. If the QOF investment is held for 7 years, then 15% of the original gain is eliminated from taxable income.
· Tax elimination on appreciation: If you hold the investment for at least 10 years, you can step-up the basis of the Qualified Opportunity Fund investment to the fair market value on the date you dispose of it; therefore, no tax would apply to gain on the sale of the investment.
Families and individuals with the good fortune of having great wealth are well aware of the extraordinary opportunities that such wealth can bring: multiple homes, extensive travel, recreation, and social activities. Along with the increased opportunities are the increased complexities and day-to-day responsibilities of managing one’s own assets and financial affairs. There is a vital need for professional management of individuals’ and families’ financial affairs in order to achieve a wealthy individual’s desired objectives.
Many wealthy individuals do not have the time to properly manage their broad range of resources because of their substantial business, philanthropic, and family commitments. Even individuals who successfully manage their own financial affairs may have concerns about continuity of financial management in the event of their own illness or death, since others in the family may not possess the specific skills to effectively take over the spectrum of management responsibilities.
As a long-term venture, the family office must develop appropriate risk management processes to help steward the office through changing conditions. These procedures need to encompass both operational level risk as well as strategic risk. Risks evolve over time, particularly when personnel change, in the light of changing market conditions, and changing family priorities, and the family office must adapt to that change while maintaining the overall focus on stewardship.
Family offices are entrusted with financial assets as well as the safety, privacy and reputation of the family, and a robust internal control structure is essential to safeguard those riches. Internal controls evolve over time due to personnel changes, technological changes, and the relative size of the family office. Our experts understand the nuts and bolts of financial processes, and the control points to be met to help ensure positive outcomes. We can rapidly assess the state of controls, and make recommendations to improve the efficiency and effectiveness of operations. Strong internal control structures provide confidence to the family members that operations are efficient, and management have the best information to make important decisions.
An exciting trend is the creation of the multi-client family office, also known as the “multi-family” office. This variant of the family office concept is the solution to the prohibitive cost and time consuming administrative issues present in a single-family office. Sometimes multi-family offices are created through the merger of two independently managed family offices to achieve cost efficiencies.