Gabler Molis & Toland, Certified Public Accountants

Asheville Office

32 Orange Street
Asheville, NC 28801
Phone: (828) 281-3161
Fax: (828) 281-3164
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Brevard Office

190 S Caldwell Street
Brevard, NC 28712
Phone: (828) 883-2920
Fax: (828) 883-4692
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Hendersonville Office

421 Church Street
Hendersonville, NC 28792
Phone: (828) 698-5488
Fax: (828) 698-5489
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Marion Office

27 West Henderson Street
Marion, NC 28752
Phone: (828) 652-1600
Fax: (828) 652-1622
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Services - Tax Management

Entity Selection

They say that the answer to all tax questions is "It depends." and it especially applies to entity selection. One of the first major decisions you will have to make as you start your new business is the form of legal entity it will take. To a large degree this decision may be dictated by the way you have organized your operations and whether you intend to work on your own or in conjunction with others.

The form of entity you choose can have a significant impact on the way you are protected under the law and the way you are affected by income tax rules and regulations. There are five basic forms of business organizations. Each has its own benefits and drawbacks and is treated differently for legal and tax purposes. They are as follows:

Sole proprietorship
Partnership
Corporation
S Corporation
LLC

Estate, Trust, & Gift planning

Your ability to meet the long-term needs of your loved ones can be greatly enhanced by the proper use of trusts and gifting strategies, and also by timely and well thought-out estate planning techniques.

These types of plans can be quite complex but in general they are designed not only to minimize estate taxes, but more importantly to help you direct your resources to the particular needs of your own unique family situation. In some situations, it is better to gift early to minimize estate taxes, but in others it is best to let beneficiaries inherit so that they may obtain certain basis related tax benefits.

It can be difficult to give away significant amounts of money or plan for large dispositions, so one rule to remember is that it is much easier to give away an acorn than to wait until you have to give away the oak tree. In other words, the earlier we start your plan, the better!

Our team will be happy to help you plan for a secure future and to explain every step of the formation and implementation of the plan in terms that you can understand and embrace.

International Taxation

Our firm provides a wide range of international tax services for both inbound and outbound corporations as well as for executives whose careers take them around the world. Our specialized corporate tax services include:

International Tax Planning
Tax Return Compliance
Income Tax Treaties Interpretation
Transfer Pricing Issues
Export Tax Incentives
Review of Corporate Holding Structures

And, whether you are an American executive working abroad or a foreign executive in the US, we also understand your unique needs as an individual involved in the international business community. Our team of global professionals can help you reduce your tax burden and meet your tax responsibilities with the following specialized services:

Individual Tax Planning & Compliance
Investment Holding Structures
US Taxation of Nonresident Investments

Property Exchanges

Property exchanges have become a major way of swapping property in order to minimizing tax. There are many critical steps that must be followed in order for a tax-free exchange to qualify under the Internal Revenue Code. Our team can lead you through the various steps necessary to accomplish this significant tax saving exchange. We can also advise you on the future tax ramifications of your exchange and help you minimize the tax impact of selling or exchanging the property you acquired. Please contact us should you be contemplating the sale of investment property.

Representation before Tax Authorities

Going through a taxing authority's examination is a very intimidating experience. Our team of trained professionals is equipped to deal with the various taxing authorities and to relieve our clients of the stress related to such examinations. Our approach is to minimize your need to interact with the taxing authorities as much as possible. Our firm's reputation with the IRS and the N.C. Department of Revenue is one of mutual respect and we have found that by presenting your information clearly and comprehensively to the auditors it not only expedites the audit process, but it also helps you get the best results.

Tax Planning

The axiom that "we don't plan to fail, we fail to plan" is especially applicable to taxes. We seldom get a second chance to change a decision that was made during the year, after the year is over. The structuring of tax transactions to minimize taxes is not only wise it is legal. The professional CPA needs to be included on the front end of major financial decisions so that the tax effect is clear.

Tax Return Preparation

Income tax laws are quite complicated. The amount you may save by attempting to tackle your own taxes, particularly as they relate to a business, can be greatly overshadowed by the expense you may incur if you make a mistake. This axiom takes on greater significance when the return is for a corporation - especially the first return. However, a far greater consideration than potential mistakes, is missing opportunities which may be available to you and your business.

Cost Segregation

Could you benefit from cost segregation? If you have bought, built, or remodeled a building within the last 10-12 years, chances are you could derive significant financial benefit from a cost segregation study. This IRS accepted, asset-reclassification procedure corrects instances where 39-year and 27.5-year depreciable property should rightfully be classified as shorter-lived 5, 7 and 15-year property. As a result, real estate owners can lower their current incometax liability and increase current cash flow — often saving hundreds of thousands or even millions of dollars. Because the study can recapture available depreciation from prior years, your resulting tax savings could be substantial. Our specialized expertise improves your yield. Cost segregation can’t be conducted by just anyone. It takes a highly trained engineer to identify all allowable property, even when it’s hidden behind walls. This could include specialized electrical, mechanical and plumbing systems, excess capacity HVAC and lighting, and non-structural and decorative architectural features. When you want highest possible yield, it pays to work with proven experts in the field.

More information on Cost Segregation