Our firm offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients benefit by getting personalized quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description. As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.
Under the direction of Tom Goodwin, the firm provides tax consulting services to businesses and individuals. We assist clients with executing complex transactions and structuring acquisitions and divestures of assets and businesses. While our specialty is providing these services to clients with connections to the real estate industry, we also work with start up businesses and high net worth individuals in need of sophisticated tax services.
M&G assists clients in planning the use of partnership allocations to maximize the availability of losses to the proper partners and to meet the business and tax objectives of the partners.
GP LLC specializes in the preparation of business tax returns for flow through entities (partnerships, LLC’s, S Corporations) as well as trusts and closely held C Corporations. We have particular expertise in complex partnership allocations, basis issues and passive activity rules and limitations. We also use composite tax returns, where appropriate, for flow through entities with numerous partners to minimize overall state filings.
GP LLC also prepares tax returns for individuals with sophisticated tax issues, particularly those that own interests in businesses and flow through investment vehicles.
GP LLC works with clients in structuring cross border transactions with the objective of minimizing their global tax liability.
We also prepare Canadian tax returns for businesses owned by US citizens or companies with operations in Canada or the US Virgin Islands.
We represent taxpayers in connection with Federal and state audits. Being audited by a taxing authority can be a stressful experience. We have the experience to handle these audits in a professional manner to defend positions taken in the tax returns and to provide the documentation needed by the taxing authority to minimize any adjustments.
Estate Planning Services
We work with local and Boston attorneys to provide clients comprehensive estate planning solutions. Estate planning is more than just minimizing the estate tax liability. It is assisting clients with understanding their long term goals and objectives, especially where there are operating family-owned businesses involved. GP LLC has experience in assisting families in transitioning family owned businesses to the next generation while working with attorneys to complete the necessary documents and utilizing state of the art estate planning techniques where appropriate. Simplicity is the key and we strive to use simple solutions where possible in order to minimize the execution costs as well as future professional fees in maintaining complex structures.
Bookkeeping Services- Real Estate
Real estate owners use us to perform bookkeeping services to access our industry expertise. We assist owners in maintaining the books and records, but more importantly assist clients in monitoring receivables, calculating CPI increases contained in leases, calculating escalations for commercial and retail tenants, maintaining lease abstracts, operational budgeting, cash flow planning, assisting in developing financing packages and assisting owners in strategic decision making.
Bookkeeping- Start up and small businesses
We provide bookkeeping and accounting services to clients in order to minimize their overall costs and to allow them continuity in the event of illness or employee turnover. Many clients find it cost effective to use us to maintain their books and records, process payroll, and pay bills where they do not need a full time staff person to handle these functions. It allows them the security to know that a professional organization with a full staff is there to meet their needs on a day to day basis. Our professionals are supervised internally so the client is comfortable that their books are accurate and that their needs are met every day.
Maintaining the accounting records is only part of the package we offer. Small businesses and start- up companies have financial needs in addition to bookkeeping. GP LLC offers a complete package of skills and services to small businesses. Our professionals also function as controllers and CFO’s to our clients. Our experienced professionals can assist owners in developing budgets and strategic business plans, structuring debt and equity raising and meeting with lenders and investors to assist the owner in accessing capital. Where our clients need an audit or review by an independent CPA, we provide the information they need, coordinate the work and minimize the time that management needs to spend in working with auditors.
While not a requirement, almost all of our clients all utilize our tax services. They find that our professionals work together and share information such that tax planning happens automatically and tax return preparation is easier and more cost effective where our tax professionals can access the accounting records and prepare the returns.
Bookkeeping- High Net worth individuals
GP LLC assists high net worth individuals and families with bookkeeping and bill paying services. These services are generally provided in connection with tax preparation and/or trustee roles.
Financial Executive Functions
Our professionals have extensive financial experience in the real estate and financial world. In some cases, a real estate or start up firm needs the advice and assistance of financial professionals to guide them through the complex world of finance and raising equity, but these needs do not rise to the level of a full time executive. Clients in this situation turn to M&G to assist them in developing financial strategies for their business, including financing for projects, raising equity for projects and overall financial oversight. By accessing senior professionals on an as needed basis, they avoid the need to hire a full time CFO.
Work Out Services
In this time of financial uncertainty, many organizations need to access professionals experienced in matters that exceed their expertise. Many real estate developers and lenders, while experienced in their craft, do not have experience in managing financial obligations in an economic downturn. Not only are there lender issues, but there are tax issues as well. Bankruptcy may be an option, but not one that should be entered into lightly. We can assist an owner by reviewing legal documents and assessing their rights and obligations, assessing market conditions and evaluating its business plans, and providing experienced insight into possible solutions to financial difficulties.
It is critical that real estate and business owners having serious financial issues seek the advice of experienced professionals who can assist the owner in evaluating their options and understand the results of those options. Individuals who have owned property for a long period of time or who have re-financed the property and pulled out cash may find that they are facing a large tax gain if the property is sold or foreclosed and may need to consider an alternative disposition structure to defer their tax liability. Tom Goodwin has substantial experience is providing creative tax structuring solutions to these problems and has assisted many owners with tax deferral strategies.
Solving financial problems with troubled properties is more than just resolving the tax issues. Comprehensive solutions require creativity in the operational area as well as creative financing solutions. To allow us to provide complete solutions in this area, GP LLC has entered into strategic alliances with a real estate development company with over 30 years of operational and development experience in real estate as well as a former CFO with a national real estate company to assist us on an as needed basis.
Mergers & Acquisitions
Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations; product/service compatibility; competitive tactics and position; financial impact; and cash flow considerations.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Debt & Financing Services
Debt management and the evaluation of financing options are issues that an experienced professional deals with every day. Let us use our experience to assist you in securing financing for your personal or business needs or consolidating your current debt to a more manageable level.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company's management team develop long-term objectives and specific strategies to facilitate your business' future growth and success.