Financial firms operate in a highly regulated industry where tax oversights and reporting errors can be costly. A single mistake or tax inefficiency can result in penalties or unnecessary tax liabilities. It can also cause reputational damage or sink security values through the erosion of stakeholder trust. Polston Tax is an experienced accounting and tax resolution firm that can help financial services firms avoid those outcomes.
Part of our work at Polston Tax is helping those in the finance industry reduce tax liabilities through means like tax credits. State and national governments offer various incentives which may apply to your work and industry.
With a credit, you can reduce your income taxes. These reductions often cover expenses from activities benefiting your employees or community. We identify and work through documentation procedures for finance tax credits applicable to your business. As you navigate the complex tax process for the finance industry, rely on our team to help you find financial benefits.
The federal government offers various general tax reductions that may apply depending on your work. These incentives include the:
While not many state incentives apply to the finance industry specifically, several may apply based on your work. For example, several states have credits related to low-income housing development. These may apply to institutions that finance such developments.
Professionals in the financial services industries deal with what’s most important to many people — the money they’ve worked hard to earn and save. As a result, this industry has unique challenges to navigate:
At Polston Tax, we understand the unique tax challenges financial professionals face, and we’ll help you comply with the rules now and as they change. Our team of tax attorneys, CPAs and accountants are here to help you stay compliant, minimize tax liabilities and resolve issues before they become costly problems.
Whether you’re managing a hedge fund or running an insurance agency, Polston Tax has the expertise to handle your tax needs while ensuring compliance and protecting your financial health.
Financial services companies countrywide collaborate with Polston Tax because of our:
Polston Tax offers professional accounting, tax planning and resolution services to financial services firms nationwide. Schedule a free consultation to discuss your needs, or connect with us to learn more about how we can help.