Tax Services

Individual Tax Services

Trusted Tax Solutions

At BCS, the focus is on delivering quality work that clients can trust. Every aspect of tax needs is handled with accuracy and care, fostering a strong relationship of confidence in navigating the ever-changing world of tax laws and regulations.

A full range of tax compliance and planning services is available, including:

• Preparation of individual federal and state tax returns
• Sole proprietorship tax forms
• Personal income tax planning
• Transactional planning for business or asset sales
• IRS and state tax representation during audits

Experienced tax professionals are ready to assist with any of these services or tax planning questions. Tax planning is an essential part of effective tax preparation and is available year-round. Whatever the goals may be, connect today to explore solutions that meet personal and business financial objectives.

Estate, Gift & Trust

Legacy Preservation Solutions

With individual objectives at the forefront, estate plans can be customized to meet specific needs. Whether the goal is passing assets to particular beneficiaries or minimizing the overall tax burden on the estate, BCS offers support to achieve these outcomes. Collaboration with attorneys, trust service providers, and financial advisors ensures a plan tailored precisely to individual needs and objectives.

Tax Compliance Services

• Estate and Inheritance Tax Returns
• Gift and Generation Skipping Tax Returns
• Fiduciary Income Tax Returns for:
  • Simple and Complex Irrevocable Trusts
  • Grantor Trusts
  • Charitable Remainder/Split Interest Trusts
  • Cemetery/Funeral Trusts
  • Bankruptcy Estates

Estate Planning, Implementation & Administration

• Identification and analysis of wealth preservation goals and estate tax estimation
• Review of current estate plans, including wills and trust documents
• Assistance and communication with surviving family members and beneficiaries
• Implementation of the estate plan, including postmortem tax planning

Nonprofit Tax Services

Compliance and Financial Guidance

Nonprofit organizations must file specific annual information returns (Form 990, 990-EZ, 990-N, 990-PF, or 990-T). The Form 990 is now a complex, 12-page document with numerous questions and schedules required by the IRS. BCS tax professionals offer extensive experience in assisting organizations with these returns, ensuring that the correct schedules are completed accurately. While nonprofits typically face no tax liability, certain situations can trigger taxes. BCS provides guidance to help nonprofits navigate these potential pitfalls and stay informed of evolving IRS regulations.

Nonprofit Services Include:

• Preparation of Form 990
• Registration with the Tennessee Charitable Solicitations Division
• Advising on disclosure requirements for tax-exempt entities
• Guidance on avoiding unrelated business income tax
• Assistance in determining the appropriate nonprofit structure: supporting organization, public charity, private foundation (operating or non-operating)

Many nonprofits are also required to undergo annual audits to qualify for certain government grants. The BCS Tax and Audit Departments collaborate to offer seamless access to both tax and audit expertise.