Prague & Company, P.C. is able to assist you with the most basic accounting & tax concerns, as well as the most complex.  Among the types of client problems and tasks we could be working on at any time are:

• Analyzing the 20% excise tax on golden parachute payments by recalculating the value of immediately-vested non-cash benefits received by executives of certain corporations using different methodologies allowed by the Internal Revenue Service.

• Advising a non-resident alien regarding the proper investment vehicles to use for his limited partnership interests in U.S. syndicated partnerships investing in Real Estate in order to minimize federal and state taxes and comply with all U.S. filing and withholding requirements. 

• Working with an officer of a publicly-traded company to determine her taxable gain from the exercise and sale of certain stock options, as well as advise as to the potential tax liability from exercising and holding additional shares.

• Advising a new business owner on an account structure to use to efficiently structure an accounting system, and helping to create the actual books by recording initial funding and other transactions.

• Filing a "check-the-box" election for a multi-national client in order to allow income and losses generated through a foreign subsidiary to flow through to the client's U.S. parent.

• Assisting an owner of a retail store ensure that he has properly registered to do business in all of the states in which he operates, and projecting taxable income to him personally.  Also helping him to understand and comply with the various non-resident income tax withholding provisions which his S Corporation is exposed to.

• Helping a consultant client understand the different types of retirement plan vehicles available to her and explaining the cash flows and tax savings that would result from each.

• Advising a multi-billion dollar client as to the proper investment vehicle to use in structuring their South American purchase in order to ensure that entity-level tax and investor-level tax are both minimized as much as possible, that the types of income generated would be acceptable to their non-profit clients, and that the withholding provisions required for their foreign investors would be manageable.

• Helping an investment partnership make an IRC §754 election in order to step up the capital accounts of certain new partners who purchased exisiting limited partnership interests for amounts in excess of the tax basis capital accounts . . . . . and helping to "push down" the effects of this election to a lower-tier entity which owned real property in order to gain tax savings from additional depreciation.

**The material contained on this web site is provided for information purposes only and is not intended to constitute legal or tax advice. The quality, timeliness, accuracy or completeness of any information at this web site, as well as its operation, is provided as is without representation, warranty or condition of any kind. All liability in respect of such information is disclaimed. Do not rely upon the information or apply it to your situation without first consulting Prague & Company, P.C. or other qualified professionals. Any reference or link to a third party is not an express or implied endorsement by Prague & Company, P.C. and Prague & Company, P.C. is not responsible for the materials on such linked third party web sites.