Brown Smith Wallace professionals bring a unique perspective to client service. Many of our subject matter experts previously worked at Big 4 accounting firms, large corporations or have otherwise developed a breadth of industry experience. The in-depth knowledge and expertise that this experience affords them is matched with our firm’s hands-on client service.
Our professionals not only serve clients throughout the St. Louis metro, but also the greater Midwest, the U.S. and internationally. We have experience serving clients across the United States and around the globe. Additionally, as an independent member firm of Moore Stephens North America, we can expand your reach and connect you with knowledgeable professionals across the country and the globe.
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- Forming a Captive Insurance Company
Challenge: A multi-billion dollar contractor was looking for ways to cut costs and improve profitability in light of recent economic conditions. Brown Smith Wallace helped it establish a captive insurance company. We advised the company on how to set up its captive to serve as a reinsurer so that it would cover the layer previously retained via a large deductible policy. This enabled the client to document and capture all of its subcontractor's risks in order to pass the costs onto the subcontractors.
- Court Case Highlights Importance of Reputable Service Providers
- State Tax Apportionment Strategy Saves Company $850K
- Establishing Nexus
Challenge: A company, doing business entirely within one state, was filing its tax return correctly. However, it was discovered that if the company was subject to allocation and apportionment the majority of its sales would be allocated outside its home state.
- Consolidating Results
Challenge: During the review of a new client's state tax return, we noticed the company had filed separate state income tax returns since the company's inception. This resulted in an elected over payment.
- Realizing Savings by Changing Residency
Challenge: The owner of a S Corp headquartered in Missouri, moved his state of residence to Florida. However, the change was not properly reflected in his state tax returns.