Taxation is a matter of increasing importance to our non-profit and financial services clients, and we provide assistance as needed to operate under today’s frequently changing and increasingly complex tax laws and regulations.

Regulated Investment Companies (RICs) tax

Our tax department provides tax return preparation, review and consulting services for the majority of our financial services clients. We continually research and build our knowledgebase to ensure compliance with constantly changing laws and regulations. Other tax services include:

  • Research and guidance in maintaining RIC status, including planning methods to avoid RIC disqualification
  • Review of required distribution calculations
  • Excise tax return calculations
  • Income recognition from complex investment vehicles, merger advice and other services
  • Review of the potential tax ramifications with respect to reorganization transactions such as the merger of two RICs
  • Planning with respect to, and assistance in the analysis of, investments in potential Passive Foreign
  • Investment Companies
  • Investment Partnerships
  • Hedge Funds
  • Assistance and guidance with the conversion of various investment vehicles into RICs

Non-Profit Tax

Our tax department provides tax return preparation, review and consultation services to our non-profit clients. We are able to address such issues as:

  • Unrelated business income on alternative investments and other activities
  • Compliance with Form 990 requirements
  • Taxable and nontaxable compensation and fringe benefits including deferred compensation plans
  • Taxable arbitrage on tax-exempt financing
  • Deferred giving programs
  • Consultation to maximize the tax benefits of charitable gifts
  • Joint ventures with for-profit entities
  • Guidance with FBAR and FACTA compliance
  • Preparation of application for exemption for newly formed organizations.

Pension Plan and Retirement Planning Services

  • Review and analysis of numerous pension plan options to best fit the needs and goals of a particular organization from both the employer and employee point of view. The number of employees, desired maximum contribution amount, nondiscrimination requirements, top-heavy requirements and vesting requirements are among the numerous considerations that we review in order to recommend a plan.
  • Assistance to Plan Administrators in ensuring plan compliance, including nondiscrimination testing, top-heavy testing and research & consultation with respect to tax law changes.
  • Taxable and Assistance to our non-profit clients with respect to their Section 403(b) tax sheltered annuity plans in order to help ensure that 1) tax returns are filed in a timely manner, 2) contribution limits are not exceeded, and 3) the plan is not discriminatory. compensation and fringe benefits including deferred compensation plans
  • Guidance with respect to establishing or converting to a Roth IRA, including estate tax planning considerations.

International Tax

  • U.S. taxable income and Social Security tax withholding requirements for international employees after consideration of international income tax treaties and totalization agreements
  • U.S. withholding requirements with respect to dividend and capital gain payments to nonresident taxpayers
  • Individual nonresident and dual resident U.S. income tax filing requirements
  • Tax reporting requirements of controlled foreign organizations.

Connect With a Tait Weller Expert

Leonard DiPietro, CPA

Managing Director, Tax Services
215-979-8854

Harrison Pereira, CPA

Tax Director
215-979-8826

Kadeu Sayid

Tax Supervisor
215-979-8830

Anna Vonn Eleazer

Tax Supervisor
215-979-8858