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Tax

Achieving tax savings is a universal financial goal. When tax burdens decrease your available financial resources, you need advice and guidance from financial professionals who know how to address tax challenges and seize tax-saving opportunities.

The Tax Cuts and Jobs Act of 2017 brought tax reform and changes that will impact just about every individual, business and organization in some way. The biggest question you most likely have is, “How does it affect me?”

Whether you’re trying to determine which entity is best for your next hospitality venture or turning to tax planning to help grow your construction business, seeking tax advice and advocacy is key to achieving your immediate and long-term business and personal objectives in relation to the new tax codes.

The Ericksen Krentel team of tax advisors is experienced at serving the needs of a diverse client base, with an understanding of the tax compliance and regulatory issues facing organizations ranging in size from startups to large corporations. Our individual, fiduciary and private foundation clients also cover a range of situations, including:

  • Federal, state and local tax return preparation and compliance
  • Tax planning and consulting
  • Mergers, sales and acquisitions
  • Entity selection and capital structure
  • Trust and estate planning
  • Cost segregation
  • Tax incentive and tax credit consulting including:
    • Work Opportunity Tax Credit
    • Enterprise zone
    • Historic restoration tax credit

Ericksen Krentel’s tax professionals understand the intricacies of tax management. Whether you are balancing your business books or your personal portfolio, our specialists can lead you through the maze of tax management. Working with our tax professionals will enable you to identify critical issues and benefit from a wealth of technical experience.

That includes helping you strategically plan for and better leverage:

  • Industry-specific tax services
  • Commodity tax services
  • SALT (State and Local Taxes)
  • Property tax services
  • Research and development tax credit services
  • Business financing, acquisitions, reorganizations and sales

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Hurricane Ida Update

Our thoughts and prayers are with all of the people affected by Hurricane Ida. Ericksen Krentel team members have spent this week checking in on each other, our families, and our clients to ensure that everyone is in a safe position. Our New Orleans and Mandeville offices are currently closed due to power outages. We expect our Mandeville office to re-open shortly and will post the status updates of both offices on our website and social media as we know more details. We will do our best to assess the situation of our clients and people, and intend to return to each office as quickly as possible.
We have learned through our experience with past disasters and the ongoing pandemic to be adaptive to new technologies and have implemented cloud-based applications that allow us to efficiently operate remotely. In the interim, we are available to the extent that is possible in working remotely with our many affected clients and their personnel.
As recovery operations begin to take shape and progress, please do not hesitate to call on us to assist in your financial, tax, and other needs. You can reach your Ericksen Krentel professional directly through their normal email address or if you need immediate assistance, send a message through communications@ericksenkrentel.com to receive a return call from one of our professional team members. We look forward to a complete recovery and once again working directly with our clients.

What to Know About Restaurant Revitalization Grants in the Rescue Plan Act

As the COVID-19 pandemic and its economic devastation continues, the $1.9 trillion American Rescue Plan Act of 2021 (ARPA), which was signed into law March 11, 2021, expands relief provisions first introduced in the Coronavirus Aid, Relief and Economic Security (CARES) Act from March 2020 and introduces new measures to help businesses and individuals.