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Accurate calculations for current and deferred taxes provide your company with the data needed to perform long-range business planning, determine how you size up with your competitors, and calculate tax reserves. Fulfilling more than just a tax compliance need, reliable FAS 109 calculations let you anticipate changes in earnings that result from changes in tax expense.
The passage of the Sarbanes-Oxley (SOX) legislation in 2002 made compliance with FAS 109 more challenging for public companies. With one of the ten largest SEC practices in the nation, HEIN & ASSOCIATES LLP can assist you with this important process.
Here are just a few of the issues that affect FAS 109 calculations:
- Internal controls required for compliance with SOX 404 added complexity to the tax accounting function for public companies.
- Treatment of stock options, deferred compensation, warrants and foreign tax issues all add complexity.
- Your outside auditors can no longer assist you with FAS 109 and other complicated tax calculations.
- Legislative changes will continue to impact accounting for taxable income, changing your income statement and balance sheet from year to year.
Remove the burden from your tax department and let HEIN & ASSOCIATES LLP prepare detailed work papers, analyze valuation allowances, and other calculations for FAS 109. We include checklists for sign-off, as required by SOX 404, and prepare copies for you and your auditors.
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