Volume 16 Issue 5 -- September/ October 2004
You must have heard the 2004 Democratic
cry, “Help is on the Way!” Lucky
you, YOU don=t
need to wait. For many years,
accountants and attorneys have been relying on The Tax and Business
Professionals, Inc. (T&BP), to provide help.
What kind of help and why?
Many of you out there have been reading this newsletter but may not
realize that we do much more than write free newsletters.
Have you ever thought about how
convenient it would be to have a tax partner in a nearby office to whom you
could turn when knotty tax questions arise?
For many attorneys and accountants,
T&BP fulfills that function. Instead of being in an office at the other end
of the hall, we’re at the other end of a telephone line or an e-mail message.
Many clients have come to think of
T&BP as a valued resource. For
example, what do you say to a Client that wants to give a piece of land to his
hometown? What if a Client
wants to set up another ice cream store in another state?
Since 1987, we have been providing
advice on subjects such as those mentioned above and much more.
Do we know it all? Of course
not; no one does. Do we know as much
as specialists at large law firms? Often
not, because such firms have the wherewithal to have one attorney work only in
one narrowly focused area, for example, state sales tax issues.
But what about advice involving state sales tax and many other issues as
the same relate to forming a subsidiary?
Some brief illustrations from recent
projects will show the range and diversity of tax issues that our clients bring
In addition to writing formal memos, we
can, for example, “ghost-write” a letter or memo for you to put on your own
stationery to address a particular situation. Often a client will call and use
us as a sounding board to determine if an issue merits research or to get a
Often, in taxation and business there
is no clear answer, and many risk factors have to be weighed.
We can and do listen, and provide valuable advice.
Do we charge for such advice? Of
course, it is our work product.
In recent years, e-mail has become an
increasingly useful way of communicating with our clients. For example, recently
a CPA who was working on a tax return whose filing deadline was fast approaching
encountered a potentially complex question involving an S corporation
shareholder whose basis in both stock and debt had been reduced by losses in
prior years. The CPA needed
assistance with figuring out how to treat a partial loan repayment on the
return. An e-mail inquiry was answered within the day.
Of course, you could hire an associate
or take on a partner to do what T&BP does, but that would likely be very
much more expensive than paying for the assistance of T&BP on an as-needed
We know how busy you are and how easy
it is to overlook resources because you have not dealt with this or that issue
in some time. Even if you have all
the best resources and the time to consult them, there are still situations
where a second opinion is valuable.
There are some clients whom we hear
from about once every five years. This
newsletter is oriented to those individuals.
We hope to hear from you soon.
For more about what we do, click here.
Copyright 2004, 2005
By Tax and Business Professionals, Inc.
9837 Business Way
Manassas, VA 20110
While designed to be accurate, this publication is not intended to constitute the rendering of legal, accounting, or other professional services or to serve as a substitute for such services.
Redistribution or other commercial use of the material contained in Tax & Business Insights is expressly prohibited without the written permission of Tax and Business Professionals, Inc.