Menu of Services

Tax Return Preparation

Tax return preparation is the cornerstone of a well-managed financial strategy. At Cooper Norman, we take the stress out of tax season by ensuring every detail is handled with precision. This includes:

• Accurate reporting of income, deductions, and credits
• Maximizing your tax savings
• Ensuring compliance with federal, state, and local tax laws

We also help businesses navigate more complex tax return situations, including filing for partnerships, corporations, and sole proprietorships. By minimizing errors and reducing the risk of audits, we give you peace of mind knowing your returns are handled correctly.

Tax Planning & Strategies

Effective tax planning is essential for financial success. Our team of experts works with you to develop customized strategies that minimize liabilities and maximize savings. We focus on:

• Identifying tax-saving opportunities specific to your industry
• Optimizing deductions to reduce taxable income
• Structuring transactions for greater tax efficiency
• Creating long-term plans to ensure sustained financial health

Whether you’re planning for growth, restructuring your business, or preparing for succession, our tax planning services provide the roadmap you need to succeed.

Entity Selection

Choosing the right legal structure for your business is one of the most critical tax decisions you’ll make. From LLCs to sole proprietorships, Cooper Norman helps you evaluate your options based on:

• Management structure preferences
• Tax implications for your specific industry
• Long-term financial and operational goals

The right entity selection not only determines your tax rates but also impacts deductions, liability protections, and the overall effectiveness of your tax strategy.

Cost Segregation

Accelerating depreciation deductions through cost segregation can significantly impact your bottom line. This tax service involves identifying and separating the costs of business assets, which allows for shorter depreciation periods. The result? Immediate tax savings and improved cash flow.

By working with Cooper Norman, you can maximize these benefits while ensuring full compliance with IRS regulations.

Tax Credits

Tax credits are powerful tools for reducing your overall liability. Our team will help identify and claim eligible credits, such as:

• Research and development (R&D) credits
• Energy-efficiency incentives
• Hiring incentives for specific employee groups

These credits not only reduce the taxes you owe but also provide opportunities to reinvest savings back into your business.

Multi-State Taxation

Operating in multiple states introduces unique tax challenges, from varying income tax laws to sales and payroll taxes. Cooper Norman specializes in multi-state taxation, helping you:

• Navigate complex filing requirements
• Minimize liabilities across jurisdictions
• Stay compliant with all applicable tax laws

With our guidance, you can avoid penalties, reduce risks, and focus on growing your business confidently.

Sales Tax

Sales tax laws are complex and vary significantly between states and local jurisdictions. For businesses in Idaho and beyond, we provide expert assistance with:

• Calculating sales taxes accurately
• Preparing and filing returns
• Ensuring compliance with Idaho sales tax regulations

Our knowledge of state-specific tax laws ensures your business avoids costly errors and penalties.

International Taxation

Expanding your business internationally comes with unique tax challenges. At Cooper Norman, we provide comprehensive support for cross-border activities, including:

• Navigating complex tax treaties
• Managing tax liabilities in multiple jurisdictions
• Ensuring compliance with international tax regulations

Whether you’re handling imports, exports, or foreign investments, we’ll help you create a tax strategy that aligns with your global business goals.

IRS Audit Support

Facing an IRS audit can be intimidating, but with Cooper Norman by your side, you’re never alone. Our audit support services include:

• Preparing and organizing required documents
• Communicating directly with the IRS on your behalf
• Representing your business during audit proceedings

We ensure your compliance throughout the process and work to resolve any issues quickly and effectively.

Payroll Tax

Payroll taxes are a critical aspect of running a business. Federal, state, and local requirements can be complex, but Cooper Norman simplifies the process by:

• Calculating employee wages and withholdings
• Filing payroll tax returns accurately
• Remitting taxes to the appropriate authorities

With our payroll tax services, you’ll avoid penalties and ensure your employees are paid correctly.

W-2 vs. Independent Contractor

Understanding the differences between W-2 employees and independent contractors is essential for tax compliance. Cooper Norman assists with:

• Preparing returns for both W-2 and 1099 workers
• Advising on eligible deductions
• Ensuring accurate classification to avoid IRS penalties

We’ll help you maintain a compliant and efficient payroll system, no matter the structure of your workforce.

Like-Kind Exchanges

A like-kind exchange allows businesses to defer capital gains taxes when swapping one asset for another of similar type. This strategy is especially common in real estate transactions and offers a way to reinvest without immediate tax burdens.

At Cooper Norman, we help you navigate the rules and ensure your exchange is structured properly.

Opportunity Zones

Opportunity Zones offer tax incentives for investments in designated areas, encouraging economic growth. We assist clients in identifying these zones and structuring their investments to maximize tax benefits.

Reasonable Compensation Survey

Determining fair salaries for business owners, executives, or key employees is crucial for tax compliance. Our surveys help ensure compensation aligns with IRS guidelines and industry standards, reducing the risk of penalties or audits.

Strategic Transaction Taxation

Complex transactions such as mergers, acquisitions, and restructurings require careful tax planning. Our strategic transaction taxation services help you:

• Minimize liabilities during transitions
• Structure deals to achieve financial goals
• Navigate tax implications confidently

Industry-Specific Tax Strategies

Different industries face unique tax challenges. Cooper Norman offers tailored strategies that account for specific regulations and opportunities, ensuring compliance and maximizing deductions.

Gift and Estate Planning

Transferring wealth effectively requires strategic planning. Our gift and estate planning services focus on:

• Minimizing estate, gift, and generational-skipping taxes
• Structuring wills, trusts, and charitable donations
• Helping you achieve your financial and legacy goals

Valuation Services

Accurate valuations are essential for mergers, acquisitions, estate planning, and compliance. We’ll provide fair market value assessments for your business, assets, or securities to ensure you’re making informed decisions.

Contact Us at Cooper Norman

Cooper Norman is committed to providing personalized tax strategies that reduce liabilities, simplify filings, and help you avoid costly errors. With over 70 years of experience across various industries, our team is here to make your taxes manageable and efficient.

Contact us today to learn more about how we can help you take control of your taxes!