Income Tax Accounting

Today’s regulatory and legal environment has complicated the way many companies account for income taxes. The changing tax laws and threat of restatement, coupled with tight timelines and complexities of the provision process make it more important than ever to have an expert on your side.

At PKM, our tax professionals use the right tools to ensure that your tax planning strategies integrate seamlessly with your overall financial picture. By taking the challenges of accounting for income taxes off of your hands, we tailor an individual solution to help make the process as painless and efficient as possible. Our professionals understand ASC 740 from not only the tax perspective, but also from the accounting side of the equation. Our solutions based on our industry analysis and experience will help you rest easy, trusting we’ve done the job right.

We assist clients with the following:

  • Implementation/compliance.
  • Evaluating positions according to their technical merits.
  • Calculating the maximum benefit available for positions held to the more-likely-than-not (MLTN) standard.
  • Assessing uncertain tax positions across multiple jurisdictions.
  • Preparing and reviewing financial statement disclosures or footnotes related to tax provision.
  • Quarterly/inter-period accounting

At PKM, our process is unique because we work closely with your external auditors to apprise them early of any significant positions and management’s desired course of action. As such we are able to avoid unnecessary back and forth communication as well as unwelcomed changes on the back end.

Our Tax Services include:

  • Effective Rate Planning & Analysis for multistate and multinational companies
  • Deferred Inventory Tracking & Valuation Analysis
  • ASC 740-10-50 (Uncertainty in Income Taxes)
  • Staff Outsourcing/Co-sourcing

Read about a PKM Income Tax Accounting Case Study.