At Holmes & Swafford CPAs, we provide tax preparation and planning services for individuals, trusts and estates, and a wide range of businesses including partnerships, LLC’s, C-Corporations, S-Corporations, and Non-Profits. In addition, we are familiar with Tennessee tax law and relevant compliance requirements for operating your business. We are committed to providing timely tax and accounting services with the highest quality work. We maintain paperless files and use state of the art, tax software and technologies. In addition, the firm belongs to both the Tax Section and Private Companies Practice Section of the American Institute of Certified Public Accountants as well as members of the Tennessee Society of CPA’s. We pride ourselves on giving you personalized and thorough service that meets your business or individual needs.
Holmes & Swafford CPAs can help ensure your business is in compliance with the ever-changing tax laws but just as important we can guide you in creating and implementing your future tax saving strategies.
Client services provided by our tax professionals:
Tax return preparation for corporate, partnership, not-for-profit, estate and trust entities
- Tax return preparation for individuals, corporations, partnerships, not-for-profits, estates and trust entities
- Comprehensive tax planning
- Multi-state tax issues
- Tax research
- Representation at IRS and Tennessee Department of Revenue exams and audits
- Audits, Reviews and Compilation of Company Financial Statements
- Expertise in real estate and construction accounting and tax
- Employee Benefit Plan audits and design
- Executive Compensation Plan design
At Holmes and Swafford, we work side-by-side with our clients and tailor our services to fit their specific needs. We combine personal attention and access with the highest levels of technical expertise and specialized knowledge. Timely communication and responsiveness are hallmarks of our client relationships. All of these attributes support our objective of helping you reach your financial goals.
We pursue excellence by staying on top of current developments and technologies. We stay abreast of industry issues and observe the marketplace, so we can analyze provide service and advice tailored to your specific needs and goals. We use our experience and resources to develop industry insights and specialized skills that allow us to bring maximum value to your projects. Together all these factors allow us deliver superior service and act as a trusted business advisor.
A detailed listing of the services we provide is set out below. Look at what we have to offer and how we can help you or your business.
At Holmes & Swafford, we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients with excellent service. Tax partner and specialist involvement ensure that our clients receive the most experienced technical expertise we have to offer.
We offer the following tax services:
Federal, State Tax Services
Tax Return Compliance
Preparation of federal, state and international tax returns is the core of our tax services. High-levels of technical and industry specific expertise allow our tax professionals to ensure our clients’ tax returns are prepared efficiently and timely.
We help businesses structure economic transactions in ways that minimize the tax impact by advising them on acquisitions, sales and mergers.
Accounting Method Reviews
We review businesses’ tax accounting methodologies for proper accounting and accounting method strategies to maximize income tax benefits.
Audit & Appeal Representation
We possess the expertise and experience to represent taxpayers before tax authorities. Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain you the most favorable results.
State and Local Tax Specific Services
Nexus Consulting and State Tax Liability Analysis
We can help you to understand and navigate where your business is required to file and pay state and local taxes based on multistate activities. Additionally, we will make recommendations of where to file and quantify potential tax liabilities associated with various state and local jurisdictions.
Sales and Use Tax Determination
We can assist you understand the sales and use tax consequences of specific transactions and ensure you meet any filing requirement.
Tax Planning Services
Federal Income Tax Planning
We aid businesses with all aspects of federal income tax planning. This includes implementing federal income tax strategies that maximize savings, increase profits and manage cash flows.
State and Local Tax Planning
Our team understands the structural and transactional underpinnings of state and local regulations in ways that allow us to create solutions that mitigate tax liabilities. We provide state and local tax planning in the following areas:
- Income tax
- Franchise tax
- Sales and use tax
- Property tax
- Other miscellaneous taxes
Business Succession Tax Planning
You spent your life building your business and now you want to pass it on to the next generation or sell the value you built. We advise businesses on the proper succession planning to preserve your family and business legacy while also looking out for potential tax consequences that may result.
Other Tax Services
We keep our clients up-to-date on the latest federal, state and international tax issues through webinars, newsletters, website postings and face-face to meetings. By staying ahead of tax issues, and we can communicate how they will impact your operations quickly and address them in a timely manner.
Individual Tax Services
When it comes to individual taxes, change provides opportunity. We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities. You can depend on us for objective guidance and personal attention. We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.
Estate and Trust Tax Services
If you have not considered what will happen to your hard earned assets as you age and eventually pass on, you should. Without an estate plan, the wealth you worked your entire life to build will be distributed according to state law and not according to your wishes. Estate planning is crucial if you want to minimize taxes and distribute as much as possible to your preferred beneficiaries.
We will work with you to design an estate plan customized to your particular needs by utilizing a variety of planning vehicles such as family limited partnerships, trusts and charitable entities. Our team can assist you by performing the following:
- Review wills and trust instruments.
- Estimate estate taxes and strategize alternatives that may provide tax savings.
- Review business issues including valuation and the transfer and/or disposition of business interests.
- Identify potential liquidity problems caused by federal and state estate taxes for the continued operation of the family business, probate, administration costs, etc.
- Develop a lifetime gifting program using vehicles such as family limited partnerships, charitable trusts and qualified personal residence trusts
- Prepare estate, gift, fiduciary and non-profit tax returns
- Advise you on the possible use of various trusts structures; including charitable remainder trusts, grantor annuity trusts, personal residence trusts, family partnerships, credit shelter trusts, marital deduction trusts and revocable lifetime trusts.
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