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Tim Hilligoss

Shareholder

Tim is known as an advocate & advisor for clients, guiding them through business transactions, tax issues, and international expansion.

What is your area of focus?

I’m focused on helping owners tackle the top financial, tax and operational issues impacting their bottom line. My expertise includes entity and organizational structure, US tax planning and compliance, and transactional services with a focus on tax efficient deal structuring, buy-sell side due diligence, Quality of Earnings studies and reorganizations. As a consultant for middle market companies, I help owners with their tax and accounting needs while providing guidance on business transactions. I also support the firm’s international practice by being a trusted advisor to Chinese companies expanding to the U.S.

How long have you been at Clayton & McKervey?

Since 2001

What is the favorite part about your job?

I enjoy meeting with clients and helping them improve their profitability through the introduction and implementation of innovative tax strategies.

Specializations

Federal and state tax saving strategies
Domestic and international tax structuring and compliance
Repatriation and transfer pricing strategies
Chinese currency controls
Transaction services and tax efficient deal structuring
Buy-side/sell-side due diligence
Quality of Earnings analysis
Business consulting and succession planning
Retirement plan design

Education

Master of Science in Taxation, Walsh College
Bachelor of Accountancy, Walsh College

Connections

Association for Corporate Growth
Michigan Economic Development Corporation
Asian Pacific American Chamber of Commerce
Detroit Chinese Business Association
Michigan China Innovation Center
PrimeGlobal

Articles by Tim Hilligoss

Transaction Support

Considering a Sale? Financial Reporting Matters

Posted on April 20, 2022 by

Having the right financial statements in place is vital for many reasons, but especially when you may be considering the potential sale of your business. When it comes to financial reporting, buyers and sellers frequently have different priorities in mind so they may be looking for different things when reviewing financials.

Transaction Support

It’s Time to Plan Your Business Exit Strategy

Posted on March 15, 2022 by

Selling your business ownership stake at the right time – and for the right price – can be a challenge. To make matters even more uncertain, today’s buyers are more sophisticated than ever – especially with rising private equity influence. The earlier you start crafting an exit strategy, the better.

Transaction Support

Business Transaction Basics: It’s All About Due Diligence

Posted on September 28, 2021 by

You’ve been talking to buyers for months and have a letter of intent in hand. So, what comes next? Before taking on tens of millions of dollars in new assets, buyers will undergo a thorough check to understand exactly what they are purchasing. Here's what you need to know about due diligence to make the process as smooth as possible.

Transaction Support

Business Transaction Basics: Why Having the Right Team Matters

Posted on September 9, 2021 by

Many new obstacles and questions come into focus when you decide to sell your business. Where do you find firms interested in buying? How much is your company worth? How do you find a good partner? Bringing on an experienced M&A team can help ensure you get the full value of the company you’ve built.

Transaction Support

Business Transaction Basics: Are You Ready to Sell?

Posted on August 17, 2021 by

Even if your business isn’t for sale yet, knowing what’s involved in a transaction and understanding what buyers value most is a great way to ensure your business can receive the best valuation possible for when the day comes – often faster than you anticipate.

General, Transaction Support

Understanding Transactions, Even if Your Business Isn’t for Sale

Posted on January 12, 2021 by

Selling your small business may not have been your focus in 2020 and may not be your focus in 2021, but planning ahead comes with huge advantages. Here are four things our team walks through with every client when we prepare for a deal.

COVID-19

PPP Update – Owner Compensation & Non-Payroll Costs

Posted on September 3, 2020 by

At the end of August, the SBA and Treasury issued an updated PPP Interim Final Rule which addresses forgiveness related to owner compensation and certain non-payroll costs.

COVID-19, General

PPP Loan Forgiveness FAQs

Posted on August 10, 2020 by

The COVID-19 pandemic caught many by surprise including business owners who were required to comply with forced business closures and others who experienced modified operating rules or dwindling demand.

COVID-19

More PPP Changes – New Forgiveness Applications

Posted on July 24, 2020 by

On June 17th, two streamlined PPP forgiveness applications were released including SBA Form 3508 and SBA Form 3508 EZ along with accompanying instruction guides. The new applications are designed to be borrower-friendly as they are less complex and much shorter than the original.

COVID-19

PPP Loan Forgiveness – New Details Available

Posted on May 27, 2020 by

Just as the Memorial Day weekend was about to kick off, the Small Business Administration (SBA) and Treasury published updates to the Paycheck Protection Program (PPP) Interim Final Rule (the Rule). The update, which was released late on May 22, 2020, provides important new details about the loan forgiveness process.

COVID-19, Tax & Assurance Guidance

PPP Loan Forgiveness Application & Guidance Released

Posted on May 18, 2020 by

On May 15, 2020, the Treasury and Small Business Administration (SBA) issued long-awaited information on PPP loan forgiveness, including the application for forgiveness and relevant instructions.

COVID-19, Tax & Assurance Guidance

Documentation is Key as We Wait

Posted on May 13, 2020 by

How many of you remember the old ketchup commercial -- waiting for the ketchup pour to hit your hot dog or hamburger? Anticipation, an-ti-ci-pay-ay-tion…is making you wait.

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Insights & Perspectives

Data-driven decision making: 3 key insights for business owners

What does it take to build a data-driven business? For self-reliant leaders who feel they’ve hit a plateau when it comes to scaling a business, adopting a data-driven approach can be a breakthrough success strategy. Using data in a more focused way helps good engineers become good entrepreneurs. It’s about creating balance. Here we take a look at key insights for business owners when using data in decision making.