As we truly partner with our clients, we work hard to provide solutions beyond the obvious and the ordinary. This happens by working with our clients closely to identify areas of opportunity and improved business strategies. Some solutions are quick and easy and others require us to roll up our sleeves to find the right solution for our client and their unique situation.
A Niagara Peninsula packaging and wholesale company expanded into the U.S. to be closer to the majority of their business and client base. They have grown to five employees in Canada and approximately forty employees in the U.S. in the two years since this expansion. As a Canadian-owned U.S. startup business they were referred to Tronconi Segarra & Associates for assistance as they had been operating in the U.S. as a personally owned U.S. Limited Liability Corporation (“LLC”).
The Tronconi Segarra & Associates Cross-Border Team analyzed the entity’s structure and immediately assisted them in restructuring into a C-Corporation, a much more advantageous structure based on the company’s Canadian ownership. We further assisted them with becoming tax compliant to avoid regulatory scrutiny and reviewing their current filing elections to minimize future tax obligations. Now, as their U.S. operation continues to grow exponentially, we are assisting our client with sales and use tax matters, strategic business planning, and connecting them with pertinent specialists to ensure their U.S. operation is running smoothly and they are in compliance with all federal, state, and local regulations.
As a result of Tronconi Segarra and Associates’ expertise in entity restructuring and tax compliance and planning, the company was able to mitigate approximately $20,000 in tax penalties and achieve a current status with their federal tax filings. When the company received an audit notice from the IRS in early 2020, our experts were able to successfully navigate their audit process and our client received a “no change” audit result.
For more information contact:
David Lever / Principal/ 716.276.8242 /
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