Services

Individual SALT Services

Income taxes imposed on individuals, trusts and estates are one of the top sources of revenue for state and local jurisdictions. The complexities of business ownership, investment and the mobility of the workforce can cause traps. Similar to the common scenario of professional athletes who travel from state to state, company executives working in multiple states should also file a return for the period of time spent in those jurisdictions. Failure to report income in all applicable states can be embarrassing not only to the executive, but also to the company. However, with these complexities, significant opportunities for planning also exist.

Our experienced state and local tax (SALT) professionals provide proactive planning, compliance, consulting and audit defense services for individuals, trusts and estates with complex tax situations.

Specific areas in which our SALT specialists provide services include:

Residency Issues

State residency rules can be quite complex and vary from state to state. Our experts can assist in determining a taxpayer’s state of residency and defend clients who have been challenged to support their residency status.

Income Sourcing

Determining how much salary, business or investment income should be sourced to a particular state is complicated and inconsistent among the state jurisdictions. Our SALT professionals regularly identify the issues and provide the methodology to determine the appropriate amount of income/loss to be reported to a jurisdiction.

Audit Defense

WTAS professionals can manage, assist and/or represent clients to rigorously defend and reduce any potential assessment.

Refund Opportunities

Individuals may be allowed certain deductions or credits unique to the state or local jurisdiction, which are often missed. Our SALT team has expertise in identifying these opportunities for our clients.

Compliance

The patchwork of state filings for individuals who derive income from multiple jurisdictions can be challenging. Our SALT professionals have a proven, efficient and results-oriented process to manage complex multi-jurisdiction filings for individuals.

Planning

Individuals who maintain varied investments and business activities may structure their activities to achieve tax efficiencies. WTAS can assist individuals in meeting their planning goals.