Tax Services

Tax planning for industries with their own rulebook.

Taxes shape a large share of your business and personal decisions, and the best time to address them is before the year closes. A captive insurance company, a dealership carrying LIFO reserves, a nonprofit with unrelated business income, and a company apportioning income across a dozen states each face tax questions that call for someone who works in that industry every day.

Larson & Company has practiced tax alongside audit since 1975. Our tax team works in the same industries as our audit team, and the positions we recommend are informed by what we see in your financial statements. That work earned the firm a place on Forbes' 2026 list of top CPA firms.

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Business Tax Planning and Compliance

For corporations, S corporations, partnerships, and LLCs.

We prepare federal and state returns, quarterly estimates, extensions, and we handle the year-round planning that shapes what those returns look like. That includes reasonable compensation studies, accounting method elections, fixed asset and depreciation strategy including bonus depreciation and Section 179, and timing decisions that may move deductions between years.

Entity choice deserves its own conversation. Liability protection, fringe benefits, payroll tax savings, and your long-term goals for the business all factor in. We walk through each one with you before you form, convert, or restructure.

For businesses operating in more than one state, we handle nexus analysis, apportionment, and pass-through entity tax (PTET) elections.

Individual and Business Owner Tax

Returns and planning for business owners, executives, and high-income individuals.

An owner's personal return is closely tied to the business return. Distributions, basis tracking, qualified business income deduction planning, stock compensation, and retirement contribution strategy all affect each other. We prepare your business return with your individual return in mind.

We help you define retirement goals and build the contribution and distribution strategy to reach them. We also coordinate estate and trust planning with your attorney, from design through execution. Our charitable giving strategy work includes donor-advised funds and gifts of appreciated assets. For clients moving between states, we handle residency planning.

Specialty Tax Services

Technical work for industries and situations with their own rules.

Captive insurance tax. Federal and state compliance for captives. The IRS pays close attention to this area, and documentation quality determines outcomes.

Insurance company tax. Federal and state filings for carriers, including reserve-related book-to-tax differences, and statutory accounting for income taxes under SSAP No. 101.

Dealership tax. LIFO analysis and elections, cost segregation studies on facility investment, floor plan interest limitation analysis, entity structure across rooftops, and owner succession planning.

Nonprofit tax. Form 990, 990-EZ, 990-PF, and 990-T preparation, unrelated business income analysis, and public support test monitoring for organizations at risk of reclassification.

Tax provision and income tax accounting. ASC 740 tax provisions and accruals, uncertain tax positions, stock-based compensation under ASC 718, and tax footnotes and required disclosures, including the expanded disclosures under ASU 2023-09. We prepare provisions quarterly and annually, or review provisions your team prepares in-house. Income tax accounting is one of the most common sources of material weaknesses and restatements, and careful provision work keeps it off that list. New to provisions? Start with What Is a Statutory Income Tax Provision?

IRS representation and penalty abatement. When the IRS or a state agency contacts you, we can represent you directly. We handle the correspondence, explain your position, and work to resolve the matter quickly. If a penalty has been assessed, we check whether it was assessed correctly and pursue abatement where you qualify.

Tax Deadlines to Know

For calendar-year filers:
- Partnership and S corporation returns: March 15, or September 15 if on extension
- C corporation and individual returns: April 15, or October 15 if on extension
- Nonprofit Form 990: the fifteenth day of the fifth month after year end, with a six-month extension available
- Form 5500 for benefit plans: July 31, or October 15 if on extension
- Quarterly estimates: April, June, September, and January
- State tax filings: these vary by jurisdiction and domicile
An extension gives you more time to file. Any tax owed is still due on the original deadline, and we will help you estimate the payment.

Do you work with clients outside Utah?

Yes. Our captive insurance, insurance, nonprofit, and tax provision work is national, and we can file in all states.

Can you take over from our current preparer?

Yes. We request your last two to three years of returns, review them for missed positions and open items, and take it from there. That review sometimes turns up something worth amending.

Do you handle IRS notices and examinations?

Yes, both for our existing clients and for organizations that come to us because of a notice. Send us the notice before you respond to it.

What does tax work cost?

Business returns are quoted based on entity type, complexity, the states involved, and the condition of the books, and we quote in advance. Planning work is scoped separately, so you can see what you pay for compliance and what you pay for advice

Will you tell us if we don't need something?

Yes. This comes up most often with clients considering a captive who lack the risk profile or premium volume to support one. We tell you early, before you spend money on formation.

HOW CAN A TAX ADVISOR REDUCE OUR COMPANY’S EFFECTIVE TAX RATE?

An experienced tax advisor evaluates entity structure, credit opportunities, depreciation strategies, R&D incentives, cost segregation, and transaction structuring. Strategic planning throughout the year — not just at filing time — is key to reducing effective tax rates.

WHEN SHOULD A COMPANY SWITCH TAX FIRMS?

Common triggers include business growth, acquisitions, international expansion, complex ownership changes, dissatisfaction with responsiveness, or a need for more strategic tax advisory. A structured transition ensures continuity and compliance.