IC-DISC a Powerful Tool for Exporters to Save on Taxes

INDIANAPOLIS, May 3, 2011 /PRNewswire/ — McGuire Sponsel, a leading national
specialty tax firm, is pleased to announce the formation of a new IC-DISC
practice line. An Interest Charge Domestic International Sales Corporation
(IC-DISC) is a little-known but powerful tool for U.S.-based exporters to
realize significant savings on their taxes.

IC-DISC provides a permanent tax savings opportunity for qualifying U.S.
exporters. It is an incentive specifically provided by the tax code that allows
U.S. exporters to increase their ability to compete globally by reducing federal
tax liabilities.

It does so by allowing domestic companies to establish separate entities that
act as commission agents for the company’s export sales. This commission is a
tax deduction for the manufacturer, and the dividends paid from the IC-DISC are
taxed at 15 percent only when paid to the shareholders. Assuming a 35 percent
tax rate for the manufacturing entity, a 20 percent tax savings can be realized.

McGuire Sponsel Director TJ Sponsel, along with Senior Manager Mark O’Dell, will
oversee this new practice line.

The new IC-DISC practice adds to the existing core areas of expertise for
McGuire Sponsel: research and experimentation tax credits, green building
incentives and cost segregation.

“The formation of an IC-DISC practice is a natural evolution for McGuire Sponsel
in becoming a more comprehensive resource for local and regional CPA firms,”
Sponsel said.

“Given the number of manufacturers we serve and their continual interest in
saving tax dollars, the IC-DISC is an excellent way to secure more benefits
within the established tax code.”

A nationally renowned firm, McGuire Sponsel partners with leading CPA firms
across the U.S. to deliver specialty tax services that fall outside their
traditional areas of practice.

For more information, visit: mcguiresponsel.com

Media contact:
Shawn Sorrells
Coles Marketing Communications
o. 317.571.0051 x110
c. 317.710.6643
ssorrells@colesmarketing.com

SOURCE McGuire Sponsel