Tax Planning
Tax Planning & Compliance

The key to minimizing taxes and avoiding penalties is planning. Not your average, everyday kind of planning, but planning with knowledge and foresight in mind. Knowing how the tax laws apply to you or your business is just the beginning; equally important is having a clear vision of your goals and objectives. This coordination of tax knowledge and objectives can open the door to new opportunities and creative strategies.

Barfield, Murphy, Shank & Smith professionals stay up to date with federal and state regulatory environments for developments. We are available to discuss the changing landscape of doing business outside Alabama, and can bring to bear both our skill and the resources of our alliance colleagues domestically and internationally. The foresight part comes from having a detailed understanding of where you have been and where you want to go. We have that understanding. Why? Because we know our clients inside and out. When you have questions or concerns about regulatory developments affecting your business or industry, please contact us and we will help you understand the significance to your situation, and the opportunities presented.  Scheduling a lunch meeting once a year isn’t our idea of client interaction. We believe in frequent  communications throughout the year, we look forward to being engaged by our clients in the regular course of business.

Tax Preparation

  • Individual, corporation and partnership
  • Multi-state
  • Estate and gift
  • Fiduciary
  • Tax exempt
  • Private foundation

Tax Planning

  • Business and individual
  • Family groups
  • Estate
  • Retirement
  • Merger and acquisition
  • Other transactional planning
  • Business Structure/Restructuring and Choice of Entity
  • Business Succession
  • International Taxation

Examples of Other Specific Tax Services BMSS Can Provide 

  • Representation on audits with the IRS or state and local jurisdictions
  • Research & Development Credits Analysis and Implementation
  • Tangible Property Regulations Analysis, Implementation, and Compliance
  • Ruling requests from the IRS and states regarding specific transactions
  • ACA analysis and consulting