INTERNATIONAL GREER & WALKER, LLP CERTIFIED PUBLIC ACCOUNTANTS

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1 INTERNATIONAL GREER & WALKER, LLP CERTIFIED PUBLIC ACCOUNTANTS

2 GREER & WALKER, LLP CERTIFIED PUBLIC ACCOUNTANTS

3 WHO IS GREER & WALKER, LLP? Founded in 1984, Greer & Walker, LLP is the largest Charlotte-based full service accounting firm, with more than 80 staff members. We provide high quality accounting, tax, and advisory services with a personal touch to a wide range of business and individual clients. WHY GREER & WALKER? The global business arena has become an increasingly important part of today s business life. However, the rules for doing business around the world are constantly changing and have become more and more complex. Proper advice from experienced international tax and accounting professionals can help you to avoid pitfalls while expanding your business internationally. For 25 years, we have made it our mission to be a dependable and knowledgeable business partner to our multinational clients. Our international team of professionals is experienced in serving American companies expanding their businesses abroad as well as international companies seeking to establish a subsidiary or presence in the United States. Our international practice focuses primarily on the needs of privately held middle market companies, their owners, and their management teams. In addition to the experience of our firm s own staff in Charlotte, we also have access to extensive worldwide resources through our membership in PKF International Limited, a network of legally independent firms.

The global business arena has become an increasingly important part of today s business life.

4 MEMBERSHIP IN PKF INTERNATIONAL LIMITED is a global network of legally independent accounting and consulting firms which aim to improve client service through combined resources, information and expertise, while maintaining local ownership. With more than 230 firms in 400 locations throughout 120 countries, the network s coverage extends to virtually the entire industrialized world. We are able to offer our clients the following benefits of our membership: Sharing of technical resources, knowledge, and skills among member firms, which provides us with the expertise to handle any business problem Access to worldwide experienced professionals well-versed in peculiar aspects of conducting business in their state or country Mandatory peer reviews of our accounting practices to ensure member firms maintain the highest quality standards

We are able to offer our clients the following benefits of our membership: Sharing of technical resources, knowledge, and skills among member firms, which provides us with the expertise to handle any

5 WHAT SERVICES CAN GREER & WALKER PROVIDE? Our international team of skilled professionals is focused on the unique challenges that global companies face, including a wide range of tax planning and compliance issues: ENTITY CHOICE / STRUCTURE The decision concerning the type of business entity through which to conduct business in the U.S. and abroad can be complex and confusing but is generally dictated by two primary concerns: Limiting the owner s liability and optimization of worldwide taxes. We can advise you on the appropriate operational structure for you and develop strategies to reduce your overall worldwide tax burden. TRANSFER PRICING COMPLIANCE Transfer pricing refers to the intercompany pricing arrangements between related companies, including tangible and intangible property as well as services. The IRS has increased its examinations of small and mid-size companies believing there is weak taxpayer compliance and opportunities for additional tax revenue. We can assist you in developing pricing strategies that meet the compliance and documentation requirements, without sacrificing the goal of tax optimization and profitability.

The decision concerning the type of business entity through which to conduct business in the U.S.

6 FOREIGN INVESTMENTS IN U.S. REAL ESTATE Many foreign individuals invest in U.S. real estate without fully comprehending all of the federal and state tax consequences. With proper tax planning, taking into consideration existing tax treaties between the U.S. and your native country, we can help you minimize your taxes. INTERNATIONAL INCOME TAX PLANNING International taxation is a complex area. We can review your cross-border tax strategies in response to recent legislation and regulation and develop strategies to reduce your worldwide tax burden. INTERNATIONAL ESTATE TAX PLANNING International estate planning requires the understanding of multi-jurisdictional inheritance tax laws and treaties. If you or your family live in more than one country or have international investments or businesses, without proper advice and planning, inheritance and estate tax problems can arise unexpectedly. We are well equipped to provide you with advice to reduce, avoid, or defer estate taxes.

INTERNATIONAL INCOME TAX PLANNING International taxation is a complex area.

7 EXPATRIATE SERVICES We provide tax planning, tax consulting, and tax compliance services to corporations and their employees on assignments outside of their home country. Our services include: Assignment planning and compensation structuring Expatriate and foreign national tax return preparation, including review of available special elections and treaty provisions Annual tax equalization, totalization, and tax reconciliation calculations Foreign tax return assistance in conjunction with our membership in the PKF International Limited network. ASSURANCE SERVICES We provide a variety of financial reporting options. These include audits (a structured examination with the highest level of assurance), reviews (analytical procedures conducted with limited assurance), and compilations (based upon client information without auditing or review procedures). If you are required to prepare consolidated financial statements, we can assist your company through the conversion or reconciliation process from U.S. GAAP to the financial accounting regulations of your native country. In addition, we identify factors that contribute to your operating results and help you turn that information into valuable management tools.

Annual tax equalization, totalization, and tax reconciliation calculations Foreign tax return assistance in conjunction with our membership in the PKF International Limited network.

8 OTHER SERVICES Some of the other services we provide that are not specific to international business are as follows: Personal tax planning and tax return preparation for company executives Internal control assessments Retirement and profit sharing plan reporting Succession planning Estate planning and administration Structure and terms of buy/sell agreements and incentive compensation plans Investment advisory services Tax planning, structure, and due diligence related to mergers, acquisitions, or sale of business transactions Business valuations Forensic accounting and fraud auditing Lease versus buy decision analyses Litigation support and dispute resolution services Accounting personnel search assistance

agreements and incentive compensation plans Investment advisory services Tax planning, structure, and due diligence related to mergers, acquisitions, or sale of business

9 INDUSTRY RESOURCES Greer & Walker s associates are active members and leaders of the following business associations: British American Business Council Charlotte World Trade Association European American Business Forum French American Chamber of Commerce German American Chamber of Commerce Italy-America Chamber of Commerce Latin American Chamber of Commerce Membership in these associations keeps our professionals informed of international business issues and trends and in tune with your business needs. Our professionals in the international services group are also exposed to regular industry-specific continuing education to ensure that we stay current with the issues that you face. In addition, our tax and accounting libraries and databases include numerous publications, reference books, and other research materials specifically related to international business.

keeps our professionals informed of international business issues and trends and in tune with your business needs.

10 CONTACT US Call us to discuss how our international expertise can benefit your business. For more information contact John M. Norman at or John M. Norman, CPA, Partner

11 SOUTH TRYON SQUARE 201 SOUTH TRYON STREET SUITE 1500 CHARLOTTE, NC USA PHONE FAX

12 GREER & WALKER, LLP CERTIFIED PUBLIC ACCOUNTANTS INTERNATIONAL Greer & Walker, LLP is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual firm or firms.

legally independent firms and does not accept any responsibility or

The Business Advantages of Transfer Pricing

The Business Advantages of Transfer Pricing Transfer pricing as an international tax strategy Compliance studies can lead to planning opportunities May 2005 Take it to the Max. 800 Liberty Building Buffalo, NY 14202 ph: 716.847.2651 fax: 716.847.0069