Tax
INCOME TAX ACCOUNTING (ASC 740)
Tax accounting begins with expertise and teamwork
We’ve got both. We can help you prioritize your reporting obligations for the good of your business.
Practice Lead
Tom Widman
Principal
Tom is a principal in the tax practice, specializing in serving C Corporations. He works with both privately-held and public companies of all sizes.
Depth of expertise
Tax accounting requires its ASC 740 specialists to combine two skills: They must be proficient with accounting and also possess both broad and deep understanding of tax rules in a constantly-changing environment. BNN’s tax accounting team experts are, at the core, experienced CPA tax practitioners.
In addition to providing tax accounting services, we routinely prepare and review complex tax returns for taxpayers in a broad range of industries, and consult with clients regarding the tax impact of domestic and multijurisdictional operations and sophisticated transactions. Nearly all of the members of our team have had significant prior experience in the largest accounting firms in the world before joining BNN.
How we can help
- Tax provision preparation & co-sourcing
- Tax basis balance sheet assistance
- Uncertain tax position (ASC 740-10) support
- Local country tax provision support
- Deferred tax validation
- Financial statement carve-out support
- Transactional tax accounting consultation
Teamwork is at our core
BNN’s tax accounting group will partner with the rest of your team to provide the clarity and accuracy that your financial stakeholders and third party auditors should expect. We work closely with controllers, tax directors, and other members of our clients’ accounting teams – some of whom are proficient themselves with ASC 740, and some who are not. We will gain an understanding of your operations and the components of your financial results, and help explain and present the impact that taxes have on them.
As part of your internal team, we will help you navigate the combination of relentlessly-changing tax rules with current accounting guidance. We will proactively “have your back” by working closely to help you limit risks, restatements, or material weaknesses that can slow down your audit process.
We have excellent working relationships with third-party auditors, large and small, and can help you bridge the gap between your internal reporting and your auditor’s issued audit report.
What Our Clients Are Saying
Our BNN team was great. As a smaller company, we had varying priorities and BNN remained engaged even when I couldn't, and when I was able to re-engage they were extremely flexible. The quality of service was great. As a former Big 4 auditor, I felt I was getting Big 4 quality but with much better client engagement and service.