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Fashion

Designing a Plan to Succeed

Fashion companies are competing in a global marketplace. Our fashion clients represent a cross section of the industry and include some of the most successful companies. These companies include manufacturers, wholesalers, importers, designers and retailers with national and international reach.

As advisors to the fashion industry, we have experienced the global and local issues that affect the way they do business and are well positioned to help them deal with changing conditions. Cash flow planning, gross profit by product line, chargeback analysis, assistance with access to capital, and operational improvements are just a few ways we help fashion companies gain an edge. Our clients benefit from our strong relationships in the financial community, as banks and factors respect the quality of our financial statements.

Tax planning is essential to the fashion industry, as opportunities such as research and development tax credits and other tax credits and incentives are explored for potential benefits. We understand the owners’ goals and help establish a strong estate planning strategy, building around profitability and long term plans.

Services include:

  • Financing
  • Financial and cash flow projections
  • Gross profit by product lines
  • Chargeback analysis
  • Manufacturing and financial information systems recommendations
  • Tax planning
  • Estate and distribution planning
  • Information systems management

Does your company qualify for Research and Development (R&D) tax credits? The fashion industry is an essential component of the U.S. economy, consisting of 7,000 firms and employing in excess 130,000 employees. Innovation has long been considered a cornerstone of growth for the industry, leading to new products and processes to meet market requirements and demands. Accelerated growth is again expected due to lower input costs and the realization of rewards associated with prior investment in direct-to-consumer sales channels.

Anchin’s professionals understand the important role the fashion industry plays in keeping the U.S. competitive in an increasingly global economy. Our industry experience, attention to detail and expert judgment result in accurate, highly defendable tax credit calculations. Our dedicated fashion industry team includes audit, tax and advisory professionals with years of experience identifying issues and solving problems for every type of business within the industry, including companies involved in footwear, textiles, formal wear and performance wear.

Our fashion industry R&D team ensures that our clients benefit from all of the incentives available to them. Anchin helps clients assess their R&D tax credits at all phases of their business, from the time they first consider entering a new market (white space evaluation) and throughout the product lifecycle. We are particularly skilled and experienced at identifying qualifying projects and initiatives in each area of your business and are experts at examining and capturing all allowable expenses towards your company’s research credit.

Anchin works with clients interested in claiming the R&D tax credit for the first time, and those who have difficulty meeting the contemporaneous documentation requirements needed to support their R&D claim. We also assist clients who have had a significant portion of their R&D claim disallowed, and those who need to reassess their R&D tax credit calculation because the nature of their business has changed.

To learn more about Federal and State Research and Development tax credits.

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