Tax Provision Preparation

Tax Provision Preparation

In today’s complex corporate environment, many companies are finding that they come up short in the vast expertise and effort required to prepare tax provision and supporting workpapers for independent auditor review. These processes do require extensive knowledge in financial statement accounting, as well as a comprehensive understanding of U.S. federal, state, and international tax laws.

As a firm, FML has nearly a quarter century of hands-on experience and understanding in each of the aforementioned areas. We have overseen or audited the tax provision process for public and private firms ranging from small start-ups to multinational corporations, while cultivating a high level of trust in the accuracy and reliability of our work.

Additionally, our tax provision deliverables are continuously audited or reviewed by the “Big Four” firms, all of which have expressed continual confidence in our work.

Our income tax accounting approach includes proactive tax risk assessment and measurement of uncertain tax positions (Fin 48), as well as reporting and interacting with our clients and their auditors. We ensure that the provision and tax footnote are audit-ready, and that all complex accounting and tax issues have been resolved prior to the provision’s presentation to the independent audit firm.

Areas of tax provision preparation expertise include:

  • Valuation allowance assessment and analysis
  • Tax accounting for business combinations
  • Assess and report the tax impact of stock compensation
  • Interim reporting
  • Assessment of discrete tax items
  • IFRS reporting
  • Assess the impact of tax law changes
  • Intra-period allocations
  • Review of internally prepared tax provision work to meet Sarbanes-Oxley requirements

Contact FML

Lisa (LaSaracina) Willauer, CPA

Founding Partner, Tax & Advisory Services

Justin Wilcox, CPA

Partner, Tax & Advisory Services