Tax Services:

Consolidated Tax Returns

Consolidated income tax returns are not only for very large corporations. They are an opportunity for business owners of multiple businesses to receive current tax benefits from the offsetting of losses of one business against the income of another business. The laws regarding the taxation of consolidated returns are very complex and continually changing. Sisterson has exceptional experience in the use of consolidated returns for operations of all sizes.

We have been working with the tax laws and issues involving consolidated groups for many years, including the following areas:

• Tax compliance
• Election to file a consolidated return
• Intercompany transactions
• Intercompany debt
• Tax allocation methods
• Stock basis calculations
• Loss disallowance rules
• Planning and analysis regarding accumulated earnings tax
• Consolidated Alternative Minimum Tax
• Effect on state income tax
• Internal Revenue Service examinations
• Planning and analysis for personal holding company tax
• Application of “passive loss” rules
• Excess loss accounts