Large volume of K-1 tax returns consistently delivered on time

Background
  • Company headquarters are located in southern California and operates primarily in the fast food chain restaurants industry.
  • Company has been operating for over 50 years, generates over $240M in annual revenue, and employs over 5,600 employees across all locations.
  • The organization was struggling with meeting the needs and expectations of their partnership stakeholders in getting a large number of K-1 tax returns completed and delivered to all shareholders before March of every year, thus allowing enough time for the partners to include in their personal filings.
  • Wright Ford Young & Co. holds a long standing history of understanding the impact to a Company’s reputation of not delivering K-1s to shareholders on time, and the downstream consequences and subsequent filing delays if those K-1s are not received by investors by when they expect.
Approach
  • Wright Ford Young & Co. (WFY) was engaged to prepare and deliver approximately 3,800 K-1 tax returns to all of the Company’s partners and investors.
  • WFY was expected to deliver all 3,800 K-1 tax returns no later than February 28 of each year.
  • WFY was engaged by the Company for over 20 years prior to the sale of all Company properties to a major private equity firm.
Results
  • Wright Ford Young & Co. consistently achieved the accurate preparation and timely delivery expectation of all 3,800 K-1 tax returns during every year of our relationship.
  • WFY never missed the February 28th deadline in 20+ years of service to the Company.

Quick turnaround of K-1 tax returns improves investor confidence and satisfaction

Background
  • Private real estate development company operating primarily in the investment and general brokerage industry.
  • Company has been operating in Arizona for 5 years, estimated to generate approximately $236M in annual revenues, and employs approximately 10,000 employees.
  • The Company was in need of a qualified tax compliance firm that could get large LLC returns with many investors prepared and processed quickly to appease investors.
  • Company interviewed several capable accounting firms and selected Wright Ford Young & Co. based on a favorable recommendation from a common real estate development investor.
Approach
  • Wright Ford Young & Co. (WFY) was engaged to prepare and deliver over thirty (30+) LLC and partnership K-1 tax returns to all entity investors on time and on budget.
  • Annual engagement is quite large with multiple stakeholders and individual strategic tax planning to maximize tax savings.
  • Primary motivation is to assure that all investor tax returns are accurately prepared and delivered quickly to improve the relational and simplicity value to all investor stakeholders.
Results
  • Wright Ford Young & Co. has consistently prepared and delivered on all expected investors’ K-1 tax returns on time and on budget since engagement started.
  • As an added value, WFY has fielded tax-impact questions from non-AZ and international investors to help assure the confidence of their investment decisions.

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