Sensiba San Filippo’s action sports industry practice group is passionate about our clients and the pursuit of adrenaline rushes from surfing, skating, biking, boarding, riding, slack line and more. We proudly support our communities and those organizations that enable our lifestyles, including Surfrider Foundation, Tour de Cure and many more.
We are a full service public accounting firm that provides financial reporting assurance, tax return preparation and compliance services. We help action sports clients capitalize on opportunities that are often under-leveraged such as:
- Research and development credits
- Incentive compensation plans
- State sales tax and income tax nexus
- Fraud prevention
- US Customs duty drawback
- Royalty and licensing with contract manufacturers and foreign distributors
A Case Study on How We Can Help
SSF re-evaluated the corporate structure of a large multi-national motocross and apparel client’s European subsidiaries from both a logistics and a tax planning perspective. Deeply experienced in the constantly changing international tax climate, SSF swiftly coordinated a team of in-house and foreign experts to assess and present best-in-class options to the Company’s decision makers. The recommended changes were well received and were immediately implemented. The changes resulted in streamlined product delivery logistics, reduced customs, duty and VAT costs, and are expected to save the client millions of dollars of corporate income taxes. All of these benefits are being realized by the client and are allowing them to maintain effective parachute options should international laws further change.
Blog Insights From Our Action Sports Team
The current economic climate for manufacturers provides significant challenges. Increasing foreign competition, price pressure from weakened demand, tight capital markets, and increasing costs of raw materials have combined to create a particularly competitive landscape for the San Francisco Bay Area. [...]