Voluntary Disclosure vs. Managed Audit: Choosing the Best Path to Reduce Tax Risk
As a commercial insurance carrier, when an insured calls to report a loss incident, you have no time to lose. You need a thorough and fair analysis of the financial impact so you can reach a mutually satisfactory resolution to the claim. At the heart of property and business interruption claims is one basic question: What would the business have earned if this event had not occurred?
To answer this question, you need an in-depth and thorough analysis of the company’s operations and financial performance.
If you’re looking for a partner to assist with comprehensive support throughout the insurance claim lifecycle, contact Chris Frederick to schedule a consultation.
Determining the financial impact of a loss involves more than simply reviewing historical profit-and-loss statements. Other factors can dramatically impact the final calculation, such as the planned introduction of new service lines, entry of new competitors or other market changes that could affect a business’s performance and results.
Our team of forensic accountants and consultants represents insurance carriers throughout the U.S. and internationally. This experience gives us a unique and thorough understanding of the circumstances that can affect a loss event’s financial impact and our insight helps to ensure a timely and amicable resolution.
Determining the financial impact of a loss involves more than simply reviewing historical profit-and-loss statements. Other factors can dramatically impact the final calculation, such as the planned introduction of new service lines, entry of new competitors or other market changes that could affect a business’s performance and results.
Our team of forensic accountants and consultants represents insurance carriers throughout the U.S. and internationally. This experience gives us a unique and thorough understanding of the circumstances that can affect a loss event’s financial impact and our insight helps to ensure a timely and amicable resolution.
“The transfer pricing audit ended after the German tax authorities reviewed our Local File. It might have been the best money I have ever spent.” – Feedback from Finance Director of Irish Multinational in Healthcare Industry following a transfer pricing audit in Germany
“Ben and his staff have been fantastic. They have been very professional and extremely patient as we navigate through our transaction and the planning process.”
“We are incredibly grateful for the partnership, support and collaboration of you and your team…Your professionalism and collaboration truly made the difference for the Company, our teams and our leaders.”
“As always, we very much appreciate your hard work and the hard work of the entire BT team.”
“In the past, I have used two of the top four national accounting firms for advice. I have found Jeff Call’s firm Bennett Thrasher, the most responsive, always available and very, very helpful. Once I’m not around, I’m certain my state trustee will continue to rely on Jeff’s firm.”
“Bennett Thrasher provided exceptional second mile audit services for Trilith Studios. Their team was thorough, knowledgeable, demonstrated a high level of attention to detail and provided clear communication throughout the entire process. We highly appreciated their collaboration and the professional service they provided throughout the entire audit process.”
“Just when you have self-assessed your company to possibly be the worst client ever, the Staff at Bennett Thrasher make you feel like you are their most important and beloved client. That ability is an attribute you don’t see in many accounting firms.”
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