Tax Services

Tax Compliance

Tax return preparation is a complex process that calls for sophisticated assistance and technical knowledge. As tax professionals, we are fully versed in the tax law and are prepared to put our experience to work for you.

Our tax engagements vary in size and complexity. We service individuals, corporations, partnerships, estates, and trusts. We use our own in-house computer network to minimize the cost to you, while maximizing the value of our services. Among our services, we:

  • Prepare federal, state and local income tax returns
  • Reprsent clients with tax audits before the Internal Revenue Service and the State Revenue Boards
  • Prepare estate, fiduciary, and gift tax returns
  • Research specialized tax matters
  • Provide you with up-to-date information on the latest tax law developments

Contact us today and get started.


Today’s international reach by businesses often requires the advice of professionals who understand your local, regional, national and international needs and objectives. Our international team expands your reach, helps you navigate the challenges and opportunities of domestic and international tax laws, and assists with the complexities of foreign business structure.

Increasingly, our clients have experienced mounting compliance pressures and tax challenges in both the U.S. and in foreign countries. In particular, because of the growth in the number of low-tax jurisdictions, the Internal Revenue Service (IRS) has made monitoring international transactions a focal point.

Our international tax team assists clients with cross-border transactions, residency issues, and the various complications of forming or liquidating foreign entities. We have extensive experience in advising foreign-owned businesses with expanding or existing U.S. business activities. In addition, we help clients strategize their efforts globally to achieve their overall business goals both in a tax-efficient manner and in compliance with the rules and regulations of U.S. and global tax authorities.

We serve U.S.- based companies that do business internationally, and foreign-based companies that operate within the U.S. Whether your company is just starting to do business internationally or is already well established in the international marketplace, our team can help you achieve your goals.

Our International Tax and Business Services include:

  • Comprehensive tax strategy advisement
  • International tax compliance
  • Accounting regulatory compliance
  • Entity formation analysis
  • Merger and acquisitions
  • Due diligence on expansion opportunities
  • Permanent establishment rules
  • Planning and implementing export incentives
  • Planning for asset transfers between U.S. and foreign companies
  • Reporting and disclosure rules for tax reporting and on financial statements
  • Foreign tax credit planning
  • Expatriate & foreign national planning & compliance
  • Structuring foreign sales corporations
  • Using income and estate tax treaties

LIFO Inventory Evaluation

FIFO and LIFO accounting methods are means of managing inventory and financial matters involving the money a company ties up within inventory of produced goods, raw materials, parts, or components.

AgeeFisherBarrett, LLC can help to manage your inventory valuation by selecting and implementing the method which fits your company’s tax plan given current economic conditions, changing regulatory requirements and future uncertainty in your industry.

Contact us and let us help you..

Leasing Analysis

The decision to build, buy or lease assets can have a significant long-term effect on your company’s liquidity. Allow AgeeFisherBarrett, LLC to assist in the decision with a proven record of experience and success in long-term strategic tax planning.

We have the tools to aide multi-year cash flow analysis and projections. Together we will evaluate and customize a plan to maximize your resources and promote sustained financial growth.

Contact us now and see how we can help.

Estate Valuation and Planning

How to Cut Your Estate Taxes

You can't take it with you, but failing to plan for your estate can mean that the government, rather than your heirs, may get the major portion of your hard-earned money. Why? Because the top estate tax rate is 40%!

Most people are aware of the exclusion of $5,000,000 of assets from estate taxes. This seems like a significant amount. Yet, when you consider the value of retirement benefits, life insurance, the value of your home, and other assets, you may be surprised at how much you're worth.

It is not effective estate planning to simply put everything you own in joint title or to draw up a will leaving everything to your spouse. You need to review your total financial position and estimate what estate taxes you'd pay if you changed nothing. Then consider options available to cut estate taxes while still accomplishing your wishes concerning the disposition of your assets.

Good income tax planning may result in savings of 35% - the top federal marginal rate. Good estate tax planning may result in savings of at least 30% and perhaps as much as 40%, depending on the size of your estate.

Even if you have no concern for reducing estate taxes, you may want to consider some estate planning techniques that can be used to reduce your current income taxes.

Some possibilities:

  • Give away property that you don't use.

    Current tax law allows you to give away up to $14,000 per year, per recipient, free of gift taxes.

    For example, a married couple with two children can give away up to $56,000 (annually) that will not be included in the parents' estate. Making annual gifts over several years can remove substantial amounts from the estate. If you give away more than the $14,000 annually, you may not owe taxes for the gift, but you start to tap into your "unified tax credit." The "unified tax credit" allows you to transfer up to $5,000,000 of assets tax-free. If the credit is used up for gifts you make during your lifetime, you will have no credit left to reduce your estate taxes.

    The tax-free transfer of $5,000,000 is in addition to the tax-free gifting of $14,000 per year, per recipient. When undertaking a gifting program, consider the tax effect of various gifts.

    If you give away stock which generates dividend income, you'll shift income to the donee (often your children), thereby reducing your current income tax bill. You'll also reduce your estate by the value of the gifted property, and any future appreciation of the property will escape taxation in your estate.

  • Gifts of tuition and medical bills, if paid directly to the school or doctor, are also tax-free. They do not count towards the $14,000 annual gift or the $5,000,000 unified credit.
  • Make charitable gifts. If you're charitably inclined, you can reduce both your current income tax bill and your estate tax by making gifts to qualified charitable or educational organizations. Gifts to charities are tax-free.
  • Property can be transferred to a spouse, either during your life or upon your death, tax-free.
  • Protect your life insurance from taxes in your estate by having your policy owned by someone else. The owner will have to pay the premiums. You forfeit the right to change beneficiaries or borrow against the policy.
  • Trusts can be an effective way to remove assets from your estate. There are many kinds of trusts, each designed to accomplish certain objectives. Trusts vary considerably in complexity, and they are under no circumstances a do-it-yourself affair. Seek professional advice.
  • Contact us today.

Sales Tax Reporting

AgeeFisherBarrett, LLC assists companies in identifying and assessing the strengths and weaknesses of their sales and use tax function.

We will evaluate sales and use tax exclusions and exemptions to maximize their benefit in application to your company, review accrual and compliance processes, and provide direction and advice relating to sales and use tax audits.

Contact us now and see how we can help.

Representation Before the IRS

AgeeFisherBarrett, LLC can assist both companies and individuals seeking advice and guidance on the most efficient and effective methods to deal with your IRS inquiry, violation, penalty or audit.

We can accurately evaluate the validity and context of the IRS claim as well as customize a plan to resolve the matter quickly.

Contact us now and see how we can help.

Cancellation of Debt

What is Cancellation of Debt?

If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender. When that obligation is subsequently forgiven, the amount you received as loan proceeds is normally reportable as income because you no longer have an obligation to repay the lender. The lender is usually required to report the amount of the canceled debt to you and the IRS on a Form 1099-C, Cancellation of Debt.

Here’s a very simplified example.

You borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt from you, there is a cancellation of debt of $8,000, which generally is taxable income to you.

Is Cancellation of Debt income always taxable?

Not always. There are some exceptions: Qualified principal residence indebtedness, Bankruptcy and Insolvency are just some examples of exceptions.

Contact us so we can help you determine if your Cancellation of Debt is taxable.

Cost Segregation

Cost Segregation is a tax planning procedure accepted by the Internal Revenue Service. It allows commercial and residential rental real estate owners as well as tenants to reclassify building costs as a means to accelerate depreciation deductions, defer taxes and improve cash flow. It is a useful planning tool for newly-acquired and newly constructed properties as well as buildings already in service and properties undergoing renovations. It can maximize tax savings by adjusting the timing of deductions. It can significantly lower insurance premiums and also reveal opportunities to save on property and transfer taxes.

AgeeFisherBarrett LLC has completed hundreds of cost segregation studies since 1985. Our team will analyze architectural drawings, mechanical and electrical plans, and other blueprints to segregate the structural and general electrical and mechanical components from those linked to personal property. We will also allocate costs such as architectural and engineering fees to all components of the building.

Contact us and see how we can help you.

Form 5500 Filing Requirements

As you may or may not already know, the U.S. Department of Labor (DOL) generally will no longer accept hard-copy submissions of Form 5500’s and accompanying schedules after 2009. All plan sponsors must file electronically effective January 1, 2010. The new system, known as EFAST2, requires action on your part. Information on electronic filing can be found on the EFAST2 section of DOL’s website, including the FAQs at the following address:

In order to prepare for the new electronic filing process, plan sponsors will need to register with the DOL. In January 2010, the DOL should have issued post cards to all plan sponsors, specifically to those individuals who signed their plan’s 2008 Form 5500. The post card was an invitation for you to register for appropriate credentials and to “sign” and file your Form 5500 for 2009. To register, you will need an Internet connection and an email address.

What You Need To Do

  • Register for your credentials. After January 1, 2010, you must log in to the EFAST2 website at to register for your credentials.
  • Apply for the “Filing Signer” credential if AgeeFisherBarrett will be preparing your Signature-Ready 5500 for the 2009 plan year. If AgeeFisherBarrett will not be preparing your 2009 Form 5500, you may need to register for additional credentials, and you should consult with your Form 5500 preparer before registering.
  • Enter the applicable information by following the online instructions to obtain your specific electronic credentials (User ID and PIN).
    • Only one set of credentials will be issued for each email address. Signer credentials allow the user to sign as the plan sponsor, the plan administrator, or both.
    • Credentials belong to you as an individual, not the business for which you work. As such, you will need to update your profile whenever your email address changes so that any notification from the DOL is delivered to you in a timely manner.
  • If you have contracted with AgeeFisherBarrett to prepare your Form 5500, we will be contacting you via email to link to our Form 5500 software and complete the required information. By entering your User ID and PIN, you can sign the form electronically.

For any questions or issues with complying for the new 5500 Filing Requirements or obtaining your credentials, please contact us.