Accomplishments with Closely Held Businesses

Malin Bergquist clients operate in a wide range of industries, providing our team with broad business expertise. Over the years the firm has developed a large base of clients in the food/beverage and distribution industry, automobile dealerships, medical, dental, chiropractic and physical therapy service and the manufacturing industry. Some highlights include:

Food and Beverage - We have served the food, beverage, and distribution industry for more than three decades. This has ranged from acquisitions , mergers and succession plans to supporting operational needs in tax and business planning. The businesses we serve include beverage distributors (alcohol and non alcohol), food and drink establishments and food distributors. We understand the core performance indicators of these businesses, including industry margin analysis, industry overhead cost levels and percentages, and we have performed business plan support associated with the expansion of franchises.

Health Care - Our clients in the medical arena range from single practitioners to large group practices. Our professionals serve the accounting, tax, and planning needs of hundreds of practice groups. We have assisted clients in selling and buying their practices, developed strategies for exiting their practices, provided practice valuation services and supported their operational needs with accounting and income tax preparation. Senior members of our team have furnished these services for more than 35 years including seats as board members at various medical institutionss.

Recent accomplishments for clients in this niche include:

• Advised a physician in the timing of major acquisitions to reduce net income, saving up to $40,000 in taxes, and in implementing a deferred compensation plan, saving $7,500.

• Advised a physician on formation of a real estate entity, and consulted on timing of major capital asset additions and elect tax credits to reduce taxes, with an estimated saving of up to $25,000.

• For a large cardiology group of 20 cardiologists and 10 primary care physicians in Erie, operating in northwestern Pennsylvania and New York, serve as de facto CFO, assisting with refinancing loan packages, overseeing a cost-segregation study for the cardiology real estate entity, assisting with internal controls, tax advice and physician buy-ins, and implementation of a Cardiology Outpatient Services Agreement (COSA).
• Advised primary care physicians and neurology and psychology groups with succession planning, buy-in and buy-out calculations and revision of compensation agreements with employed physicians and their partners/shareholders.
• Advised a physician group in the purchase of medical practices, including negotiation support, obtaining bank financing, business entity selection and setting up tax and accounting systems.

Automobile Dealerships - Clients in the automotive dealership industry benefit from our experts who provide accounting and tax assistance. Our clients represent a substantial number of the large domestic and foreign automobile dealership types and we understand the complexities and nuisances of this industry.

During the current upheaval in the automotive industry, we have assisted dealerships of domestic brand franchises to develop cost reduction strategies and break-even analyses. More >

Manufacturers - Manufacturing clients benefit from our service depending on the need in the cycle of their enterprise. For start ups, we provide expert assistance in entity selection, accounting system support and consultation and tax planning. Our professionals advise on inventory pricing and control consultation, assistance with research and development credit projects and cost segregation information and support. Our team has expertise in large international and SEC manufacturing accounting and auditing, business valuation and planning.

Recent accomplishments for clients in this niche include:

• Helped a pump manufacturer implement an IC-DISC (Domestic International Sales Corporation) allowing for special tax treatment on sales of U.S.-produced goods shipped to foreign countries, by converting a portion of income from ordinary to capital gain rates, saving $40,000 in taxes.

• Led succession planning for a closely held stock ownership transfer, saving thousands of dollars in income, federal estate and state inheritance taxes.
• Assisted a manufacturer on a state tax strategy concerning nexus and operations to save thousands of dollars in taxes.