|Industry: ||Healthcare |
|Entity Type: ||Private Company |
|Ownership Structure ||Venture Capital Backed |
|Geographic Footprint: ||U.S. & Israel |
|Annual Revenue: ||$149 Million |
|Number of Employees: ||1,000 |
While quickly expanding through acquisitions, a telehealth company sought a provider that could assist with all areas of its tax function, including tax due diligence, federal, state, and international tax planning, and support for its day-to-day operations.
CBIZ provided outsourced tax department support to address complex purchase price accounting matters, technical income tax accounting considerations, and international and state and local tax issues. Our team streamlined processes and updated controls to more accurately and effectively capture tax accounting matters. We also enhanced management team communication through executive summaries that highlighted key risks and opportunities.
With our assistance, the company took advantage of beneficial tax law changes related to both the 2017 tax reform law commonly known as the Tax Cuts and Jobs Act (TCJA) and in the Coronavirus Aid, Response and Economic Security (CARES) Act of 2020. These tax opportunities helped minimize risk and established a tax profile to help the company achieve long-term tax benefits.
The company successfully established the proper controls and processes to allow it to not only minimize risk, but also focus more time on complex tax accounting matters and value-add tax planning strategies.
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CBIZ MHM is the brand name for CBIZ MHM, LLC, a national professional services company providing tax, financial advisory and consulting services to individuals, tax-exempt organizations and a wide range of publicly-traded and privately-held companies. CBIZ MHM, LLC is a fully owned subsidiary of CBIZ, Inc. (NYSE: CBZ).