Altum LLP - Certified Public Accountants

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Flow-Through Services

Our Partnership Tax Services team works with a wide range of partnership and LLC clients intending to accomplish various economic deals. Our services focus on:

  • Modeling of partnership agreements for tax consequences and to ensure tax allocations and distributions follow the economic deal arranged

Venture Capital

  • Fund, Management Company, GP entities
  • Blocker entities
  • Effectively Connected Income Issues
  • Unrelated Business Taxable Income Issues
  • Carried interest planning
  • Qualified Small Business Stock
  • Warrant issues
  • Capital account maintenance
  • Foreign investment, PFICs/QEF elections and analysis, and other reporting issues
  • Installment sales, earnouts, escrows
  • Multi State tax returns
  • Reportable transactions
  • Side funds/affiliate funds

Real Estate

  • 1031 exchanges
  • Cancelation of debt income and planning
  • Restructuring loans and guarantees
  • Special allocations for promote or for depreciation or other tax benefits
  • Maintenance of capital accounts
  • Cost segregation studies
  • 179D energy efficient improvements
  • Redemptions and mechanisms for dealing with
  • Tenant In Common (“TIC”) Properties and reporting for large TIC structures

Operating business partnerships

  • Choice of entity analysis
  • Professional services firms and the unique issues to their businesses
  • Technology companies and maximizing credit flowthrough and utilization of losses
  • Partnership unit grants (stock option equivalents for partnerships)
  • Maintenance of capital accounts
  • Tax planning related to the flowthrough of income and losses for owners
  • Joint venture taxation
  • M&A including assistance with due diligence and maximization of after tax cash for partnerships and their partners
  • Conversions to corporation form
  • Technical Terminations
  • Multistate filings and composite filings on behalf of partners

S-corporations

Our S-corporation Tax Services team works with a wide variety of S-corporation clients in different industries. Our services focus on:

  • Choice of entity analysis
  • Utilization of losses at the shareholder level
  • Late S-elections
  • Private Letter Rulings for Late S-elections or inadvertent terminations of s-status (including due to an ineligible shareholder)
  • M&A including assistance with due diligence and maximization of after tax cash for S-corporations and their shareholders
  • Utilization and maximization of tax credits at the corporate and shareholder level
  • Multistate and composite tax filings
  • Built in Gain minimization strategies for C-corporations electing S-status
  • Phantom stock plans and stock option plans for S-corporations
  • Cancellation of Debt issues
  • Individual Services
  • Flow-Through Services

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