What HLB Gross Collins Did

HLB Gross Collins has served as integral advisor to the company, assisting with complex tax issues and providing guidance on potential acquisitions. Partner Richard Taylor took the lead in directing various accounting teams within the firm. In a collaborative effort, HLB Gross Collins also relied on the expertise of some of its HLB International affiliates.

The teams creatively solved some key problems for the client related to its international expansion into countries including Puerto Rico, which involved both compliance and tax issues. Tax Partner Jake Bodenheimer developed an innovative solution for the client by recommending the creation of a separate subchapter N corporation, which is similar to a subchapter S corporation in that it is a pass-through entity, but it is used for sources of income both within and outside the United States.

Results

HLB Gross Collins’ advice and assistance over past years has helped the energy firm grow its revenues from $6.2 million in 2005 to $20 million in 2007. During this same two-year period, the company has increased its profits before officer salaries by 525 percent.

For more information about how HLB Gross Collins can help your business, call us at 770-433-1711.