VPTax

Is an outsourced corporate tax department founded by former partners at Big 4 tax firms who were also former tax directors at large domestic and multinational firms

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VPTax is an outsourced corporate tax department founded by former partners at Big 4 tax firms who were also former tax directors at large domestic and multinational firms. The firm is highly automated and process-oriented, with a significant proprietary technology backbone. They serve a diverse client base ranging from start-ups to established public companies.

 

DID YOU KNOW: VPTax has worked with The RealReal since 2015. They are a highend fashion reseller that utilizes an efficient e -commerce marketplace and recently had a successful IPO. “We were engaged as their outsourced corporate tax department and supported their rapid growth and smooth transition to the stock market,” says Lord.

“I appreciate that I can always reach my “VP of Tax” at VPTax. As we’ve grown, there are constantly tax questions that arise. The VPTax team is accessible, knowledgeable, and incredibly responsive. When we do build a tax department of our own, it will be modeled after VPTax!” – Steve Lo. Corporate Controller the RealReal.

 

The top talent at VPTax spent, collectively, over 100 years in corporate tax and they bring all that experience to the startup community of Utah.

This is a perfect fit for people coming out of incubators or out of universities, who are entrepreneurs with a great idea, yet don’t necessarily want to know how to comply with the IRS rules or receive cash benefits from R&D tax credits. “We take care of that for them,” says Jeff Olson, Director of Sales, “and save them money and headaches in the process.”

“We manage all our clients corporate tax compliance needs, which mitigates the burden of dealing with a company’s tax situation,” says Lord, also a Director of Sales.

 

Focusing primarily on high-growth startups, VPTax helps start-ups and midmarket organizations understand the tax ramifications of what they’re doing as they grow. “Because of the way we designed our platform,” says Lord, “we become aware of their tax implications in our process.”

At the heart of VPTax is this platform, which synthesizes data elicited from clients via answers to a series of questions that dig into their business. This is done annually, at times more frequently, depending on the nature of the business and their tax needs—which can become complex.

“We have the team and resources to address this,” says Olson, “so our clients focus on running their business.”

 

VPTax’s process is embedded in a proprietary workflow management platform that provides accessibility and transparency. In the company’s fiscal Q1 every year, the client goes through a static interview that reviews everything tax related. VPTax and the client get into the weeds and dredge out what’s really going on. This generates a custom data set for their tax needs.

“VPTax’s systematic process is also an enormous help to domestic companies with an international presence. As a company expands globally there are significant US corporate tax compliance requirements. These need to be complied with consistently and methodically. Overlooking these or failing to comply can cause significant, irrevocable US penalties and complications”, says Olson. “VPTax is adept at this—many of our clients have a presence in Europe and the Asia-Pacific region.”

 

Working with so many companies has emergent benefits that VPTax can then pass on to its clients. “If we learn something at one company,” says Olson, “that allows us bring that lesson to every company.” All VPTax compliance services are built on a flat rate model, for startup customers as well as enterprise. “Everyone gets first-rate, world-class service at a flat rate,” says Lord.

Utah is an exciting place for VPTax right now. “Silicon Slopes has an old school Silicon Valley vibe to it,” says Olson. “There’s a ton of opportunity to help out here… and many of these organizations can leverage what we provide. It’s just a great fit,” says Lord.

 

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