Services
Starting a U.S. Business
Rödl Warren Averett consults and assists many clients with domestic and international business structure and tax planning, transfer pricing, double taxation treaty issues, financial reporting according to U.S. GAAP, HBII and IFRS, corporate and personal U.S. tax returns and many other services unique to international entities. The United States tax and accounting fields can present numerous challenges to foreign companies and individuals, including German investors. Rödl Warren Averett helps clients successfully handle those complex issues. Rodl serves approximately 600 U.S. subsidiaries of foreign parent companies, including almost 150 automotive suppliers.
Start-up Consulting - New Investment in the U.S.
Investing in the U.S. for the first time can be challenging from the standpoint of learning how business practices and taxes differ from the mother country. Our teams of Germans, Koreans and Americans understand the differences and can communicate in your language the impact of such differences on your business decisions.
Additionally, the state and local governments are the primary groups offering incentives to new companies to create new jobs in their area. Rödl Warren Averett's detailed knowledge of the various incentives available can make a significant difference in the future cash flows of your U.S. project. We know what to ask for and how the requests are to be made. Assistance to our clients can include the following:
- Incentive identification
- Acquisition due diligence
- Business process outsourcing
- IT consulting
- Transfer pricing studies
- Cost segregation
- Cost containment
Income Tax Services
Entity Structure Consulting
Selecting the legal structure of your U.S. entity should include consideration of minimizing risk to litigation claims by third parties and minimizing corporate income taxes from a combined view of the parent company and the U.S. subsidiary. Our international tax specialists should consult with you and your attorneys during your start-up to select the most appropriate legal structure for the U.S. entity.
Tax planning
We realize the importance of gaining an understanding of every aspect of your business, your goals and expectations. This knowledge is critical in minimizing your tax liabilities and maximizing your cash flow. In order to achieve these objectives, we specialize in providing year round tax planning and common sense, value added solutions that will save taxes. Our tax personnel will provide new and innovative ideas in order to create greater value for your business organization.
Tax compliance filings
Rödl Warren Averett works closely with clients both in tax preparation and compliance and in developing tax strategies. We also bring additional value to tax services by placing a strong emphasis on tax planning. Our international tax professionals are skilled at planning and considering the impact of any tax burdens.
Additionally, Rödl Warren Averett understands the importance of tax research and client communication in compliance and planning. We use the latest in tax research services and receive daily notices regarding tax regulation changes. We alert our clients to these changes when appropriate.
Multi-state tax services
In the U.S., corporate income taxes are assessed at the federal level as well as the state level. Many U.S. companies are liable for state corporate income taxes in multiple states depending on various factors including the location of their property, their employees and their customers. Many of our clients are subject to multi-state filings and we understand the requirements of different states and the applicable apportionment factors. For especially complex situations, we have state and local tax (SALT) specialists devoted to maintaining significant expertise in this area.
Audit / Attest Services
In the U.S., financial reporting by accountants can include levels of reporting other than a full scope audit.
Audits
Audits are not required by law in the U.S., except for listed companies whose stock is publicly traded. Audited financial statements may also be requested by financial institutions that have loaned funds to a company. Full scope audits are often required for a U.S. subsidiary when the mother company in Germany/Korea is required to have an audit of its global consolidated financial statements in Germany/Korea.
Agreed upon procedures
This level of service is typically less costly than a full scope audit. Its most common application would be in an instance where the U.S. subsidiary's financial statement is not overly significant to the global consolidated financial statement, but the auditor for the global statement would like audit assurance on one or two significant components (i.e. fixed assets and inventory) of the U.S. subsidiary's financial statement.
Specified audit procedures are agreed in advance and the auditor's report states the procedures and the findings from performing these procedures. During the first few years for a start-up entity in the U.S., electing an "Agreed Upon Procedures" examination can save some cost when a full scope audit is not yet necessary.
Reviewed financial statements
This level of attestation provides less assurance than an audit. Procedures performed are primarily making inquiries of management and performing analytical review procedures. This level of service also is less costly than an audit.
Quarterly reviews
U.S. subsidiaries of listed companies in Germany/Korea may require quarterly reviews (primarily inquiry and analytical procedures) for the interim financial statements after the first, second and third fiscal quarters of the year. Rödl Warren Averett performs such services for the U.S. subsidiaries of these companies and communicates the results to the auditor of the mother company.
Compiled financial statements
This level of services provides no attestation assurances and consists of drafting a financial statement from numbers provided by the client. It may or may not include financial statement footnotes depending on the request of the client. This level of service is less costly than an audit or review engagement.
Employee benefit plan audits
Plan audits are required to be submitted to the U.S. Department of Labor for plans with more than 100 eligible participants (subject to certain exceptions). Plans whose investments assets are maintained by certain financial entities may receive certification from the trustee and reduce the audit requirement to a "limited scope" audit.
Internal audit outsourcing
Internal control systems, a key element of audit opinions, are extremely important in today’s business world. Rödl Warren Averett understands the concern of many international businesses, including private companies that are not subject to Sarbanes-Oxley, corporate governance and other regulatory restraints, to develop and improve internal audit functions.
For the private companies that have recently grown into worldwide organizations, the internal audit is crucial to global risk management. When necessary, we work with specialist fraud investigation teams across the world. However, Rödl Warren Averett uses the following to improve your risk management:
- Internal audit advice, analyzing risk and regulatory environment, designing internal audit methodologies and processes, implementation advice and monitoring
- Internal audit co-sourcing, on a project-by-project basis or under worldwide framework arrangements
- Internal audit outsourcing
When necessary, we work with specialist fraud investigation teams around the world.
Additional Services
Retirement Plan Services
Rodl Warren Averett has the resources to offer clients comprehensive employee benefit plan services. With over 25 years of experience, our professionals serve over 300 retirement and employee benefit plans, the largest consisting of more than 5,000 employees. We offer clients turn-key benefit plan solutions including both plan administration and plan investment services. Our benefit plan services feature annual plan compliance, broad investment selection, participant directed accounts, quarterly participant statements, daily account access through the internet or a toll free retirement hotline, and local account representatives.
Human Resources and Staffing Services
Rodl Warren Averett has the resources to offer clients full-service recruiting, temporary staffing and permanent placement services - from administrative to executive, as well as comprehensive HR outsourcing. Our professionals have over 75 years of experience serving clients across the U.S. and in a variety of industries.
Payroll Services
The need to streamline and focus your business practices has never been greater. That is why more and more businesses have chosen to outsource their payroll. Outsourcing helps reduce costs and workload, freeing up time to take care of what’s really important: growing your business.
Working through an experienced and reputable industry provider, Rodl Warren Averett has the resources to offer clients flexible Internet and PC payroll options for companies of all sizes. CompuPay is one of the largest and most innovative providers of online payroll services in the U.S., and through CompuPay, we offer business clients comprehensive online payroll processing, including tax filing and compliance service, electronic new hire reporting, direct deposit and employee access to online check stubs and W-2s.