Prague & Company, P.C. offers a diverse set of services to satisfy the needs of our individual, corporate and partnership clients. We also provide services to more unique types of entities, including trusts and estates, private foundations and Real Estate Investment Trusts (REITs).
Individuals
Prague & Company, P.C.’s individual tax clients need advice 365 days a year – not just from January to April. From year-end planning to determining the proper amount of quarterly estimated payments to pay, we help our clients to understand the tax implications of their financial activities. We strive to maintain an open dialogue with our clients during the year to not only ensure a worry-free tax season, but also as a means to potentially minimize their tax liability. Whether our clients are trying to determine the impact of selling a particular security in June or purchasing a rental property in November, it is important to consider the tax implications year-round.
Prague & Company, P.C. has extensive experience with providing the below services to United States as well as non-United States persons (i.e. resident or non-resident aliens). We are familiar with tax specific items related to non-United States persons, such as the foreign earned income exclusion and the calculation of foreign tax credits.
Among the many tax planning and compliance services Prague & Company, P.C. offers, we provide the following:
- Preparation of all federal and state filings, including tax returns
- Estimation of quarterly tax payments
- Advice on current and future tax law changes
- Guidance on non-cash compensation, including restricted stock, incentive stock options (ISOs) and non-qualified stock options (NSOs)
- For individuals with foreign investments, preparation of the Report of Foreign Bank and Financial Account (FBAR), calculation of foreign tax credits, and guidance on the Offshore Voluntary Disclosure Program (OVDP)
Corporations, Limited Liability Companies (LLCs) and Partnerships
Prague & Company, P.C.’s corporate and partnership clients demand prompt and accurate service to ensure that they can meet the needs and demands of their investors and clients. Our corporate and partnership service offerings can be adapted to domestic and foreign entities, multi-tier entities and alternative invest vehicles such as Real Estate Investment Trusts (REITs) and Passive Foreign Investment Companies (PFICs).
Prague & Company, P.C. can provide one or many services to our corporate and partnership clients. For those clients interested in having Prague & Company, P.C. manage all the tax and accounting aspects of their business, please visit Partnerships and Private Equity Administration for more a detailed list of service offerings.
Among the many tax planning and compliance services Prague & Company, P.C. offers, we provide the following:
- Preparation of all federal and state filings, including tax returns and investor K-1s
- Review of financial results on a quarterly basis and provide estimated taxable income to investors
- Maintenance of tax basis of investments and capital accounts
- Maintenance of investor correspondence such as W-9 and W-8 forms and adhere to any state or foreign withholding requirements related thereto
- Advice on potential state franchise, excise, or other “value” taxes on the investment vehicles themselves
- Correspondence with and advice to general partners and key company figures on entity formations, changes in tax law and other tax considerations
Other Entities
Prague & Company, P.C. not only focuses on the common types of entities, but also offers many of the above services to more specialized entities. These entities include fiduciary entities (i.e. trusts and estates), charitable foundations, charitable trusts and non-profit organizations (section 501(c)(3) entities).