Asset Purchases for New Business

There are various things that go into purchasing assets for your new business. Our goal is to help you understand the advantages/disadvantages of your purchases, from tax liability standpoint. This information will help you plan for purchases.

how can we help you?

Whether you’re an individual, startup, small business, or a large corporation, our CPAs and staff are here to serve you and provide exceptional accounting services for you and your company.

Contacts Us

Having to get some paperwork notarized on a Friday seams a bit harder than it is. Went to my bank first and they quit notarizing Medical POA’s and DPOA’s. So I called Smith and Smith and thank goodness they were open, headed over and took care of it. Steve and his team are great!

Damon B.

Call us in 817.466.9333 or 817.466.9333 for purchasing assets for your business.

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A cardiologist received a letter from the IRS for delinquent payroll taxes that had already been paid.

The cardiologist was sure that the payroll taxes had been paid however, he needed help to prove this was the case. Our CPAs reviewed the tax payments and reconciled them to the various tax liabilities. Upon completion, it was determined that the aforementioned taxes were indeed paid. The issue was that they were applied incorrectly.

A group of doctors were looking for a CPA firm to help them form their new practice.

A group of doctors had been working for various practices and decided to form their own medical entity. They were sure that they could succeed given their experience and knowledge in their field of medicine. Needing a CPA firm to advise them on various tax decisions, they decided to seek the services of Smith & Smith CPAs, LLC.

An Oil & Gas company needed guidance on how to handle their growth.

They started as a sole proprietorship and were in search of a CPA firm that could advise them on how to handle the growth of their company. After searching for a firm, they decided to meet with Smith & Smith CPAs, LLC. In our initial meeting, we learned of their business and inquired about their goals. We decided that it was best for them to incorporate.

An owner of an auto shop came to Smith & Smith CPAs, LLC with a letter from the IRS.

This letter stated that an audit would be taking place. Having never been through an IRS audit, the owner needed help to prepare. We advised him on the process and shared our past experiences. When the audit came, we were there with him every step of the way.

The Dreaded Letter from the IRS.

A client received a letter from the IRS regarding his prior year tax return. Unfortunately, he was being audited. The IRS believed that expenses for his LLC were overstated and disallowed certain deductions. In addition, the IRS stated that the client owed thousands of dollars in penalties alone. We met with this client and went over all of the relevant documents. We were able to guide him through the process and provide him peace of mind. Upon review of transcripts and various documents, we met with an IRS agent on behalf of our client. This …

Let Smith & Smith CPAs plan your Asset Purchases for New Business.