Case Studies from recent engagements
Case 1
Repair and Fabrication
A repair and fabrication facility in Florida had a prominent tax attorney give them some advice on a particular item that the attorney believed was taxable. He advised the repair and fabrication facility to pay the tax. Our consultant and Mr. Bodden realized the statute was being applied incorrectly and the repair and fabrication facility was due a significant refund. The repair and fabrication facility personnel were cautious regarding the newly found savings because of the reputation of the prominent tax attorney. Geoffrey Bodden & Associates, Inc. applied for a refund on behalf of the repair and fabrication facility and produced a six figure savings for them.
Case 2
Construction Industry Manufacturer
A construction industry manufacturer engaged another firm in an attempt to generate some savings. The other firm found some savings but caused so many problems and wasted so much of the controller's time that the company was hesitant to ever do another engagement of this type. The construction industry manufacturer also later found out the agreement they signed allowed the consulting company to perform another engagement in the future or pay a stiff fee for violating the agreement. They allowed Geoffrey Bodden & Associates, Inc. to do a sales and use tax engagement for them. Geoffrey Bodden & Associates, Inc. found them additional savings and provided such high quality and professional work that the company will be happy to use us again for their sales and use tax consulting. Our agreements do not include future work. We get to do your work again only if you are pleased with our work and decide to re-hire us.
Case 3
Paper Manufacturer
A large Florida based paper company did an engagement years ago with Geoffrey Bodden & Associates, Inc. They received a greater than expected amount of money and were happy with the work. They were approached sometime later by another consulting firm offering to provide a similar service for what seemed to be a discounted rate. The paper company agreed and the firm did the work. Hidden in the contract from the other firm was a clause that made a percentage of future savings payable to the other firm which nullified any discount in the rate and actually made the rate much higher than Geoffrey Bodden & Associates, Inc. The paper company was unhappy with the quality of the work turned in by the other firm and by the hidden clause in the contract. Geoffrey Bodden & Associates, Inc. continues to do the work for the paper company today.
Case 4
Food and Beverage
Geoffrey Bodden & Associates, Inc. attempted for 17 years to work for a particularly large food and beverage corporation. After 17 years the corporation agreed to engage Geoffrey Bodden & Associates, Inc. for the sales and use tax recovery work. They believed they had a very good handle on the sales and use tax area and there would not be much in savings for Geoffrey Bodden & Associates, Inc. to find. Geoffrey Bodden & Associates, Inc. found significant savings for the corporation much to their surprise.
Case 5
Construction Industry Manufacturer
A large construction industry manufacturer who has several facilities across the state had been utilizing a firm from out of state for their ad valorem tax consulting for five years. The out of state firm was doing the ad valorem tax engagements at a discounted rate and on one year term contracts. The out of state firm handled the engagements much the same way as the rest of the industry and did not put much effort into the engagement. Their consultant only briefly visited the manufacturer's corporate office twice for a few minutes each time over the course of the five years. At the same time Geoffrey Bodden & Associates, Inc. was engaged by the company to produce savings in the sales and use tax areas. The corporate finance department was so pleased with the quality of our sales and use tax worked that they agreed to let us handle their ad valorem tax engagement to see what we could produce. Our consultant visited each facility personally and performed a very detailed review of each facilities assets. Our consultant worked on the case for several months doing very high quality work. Geoffrey Bodden & Associates, Inc. produced savings of 6 figures in the first year and each subsequent year for the duration of the contract. Geoffrey Bodden & Associates, Inc. continues to handle the ad valorem areas for the company.
Case 6
Construction Industry Manufacturer
A construction industry manufacturer that was new to the state had purchased a significant amount of new equipment and handled the ad valorem tax negotiations with the county on their own. They were under the impression that they had negotiated such a good deal with the county that they were very hesitant to allow us to review the ad valorem tax area. They finally engaged Geoffrey Bodden & Associates, Inc. for their ad valorem tax consulting and our expert consultant produced savings for the company that well exceeded six figures.
Case 7
Food Industry Distributors
Geoffrey Bodden & Associates, Inc. worked for a food distributor that had been through several state and federal audits regarding their fuel and excise taxes. Their big 4 CPA firm also reviewed those areas. The company representative was confident that there were no opportunities for savings in those areas. The expert consultants at Geoffrey Bodden & Associates, Inc. reviewed the records and found savings so significant that the company was astonished. The CPA's firm was so embarrassed that they told the company representative that our work was not credible. The company representative requested that we get our work approved by the governmental agency which regulated the tax area. Our consultants went through an audit in those areas. The auditors stated that the work presented by Geoffrey Bodden & Associates, Inc. was the best they had ever seen and the refunds were paid in full.
Case 8
Sales Tax Audit
A commercial passenger airline company was assessed $360,000.00 of additional sales tax after being audited by the Florida Department of Revenue. Geoffrey Bodden and Associates was hired to reduce the audit assessment. We reduced the assessment to $30,000.00 after several months of detailed work. The client was very pleased with the outcome. The commercial passenger airline company also made our recommended changes in the way it was paying taxes and from that point forward continually saved over $100,000.00 per year.
Repair and Fabrication
A repair and fabrication facility in Florida had a prominent tax attorney give them some advice on a particular item that the attorney believed was taxable. He advised the repair and fabrication facility to pay the tax. Our consultant and Mr. Bodden realized the statute was being applied incorrectly and the repair and fabrication facility was due a significant refund. The repair and fabrication facility personnel were cautious regarding the newly found savings because of the reputation of the prominent tax attorney. Geoffrey Bodden & Associates, Inc. applied for a refund on behalf of the repair and fabrication facility and produced a six figure savings for them.
Case 2
Construction Industry Manufacturer
A construction industry manufacturer engaged another firm in an attempt to generate some savings. The other firm found some savings but caused so many problems and wasted so much of the controller's time that the company was hesitant to ever do another engagement of this type. The construction industry manufacturer also later found out the agreement they signed allowed the consulting company to perform another engagement in the future or pay a stiff fee for violating the agreement. They allowed Geoffrey Bodden & Associates, Inc. to do a sales and use tax engagement for them. Geoffrey Bodden & Associates, Inc. found them additional savings and provided such high quality and professional work that the company will be happy to use us again for their sales and use tax consulting. Our agreements do not include future work. We get to do your work again only if you are pleased with our work and decide to re-hire us.
Case 3
Paper Manufacturer
A large Florida based paper company did an engagement years ago with Geoffrey Bodden & Associates, Inc. They received a greater than expected amount of money and were happy with the work. They were approached sometime later by another consulting firm offering to provide a similar service for what seemed to be a discounted rate. The paper company agreed and the firm did the work. Hidden in the contract from the other firm was a clause that made a percentage of future savings payable to the other firm which nullified any discount in the rate and actually made the rate much higher than Geoffrey Bodden & Associates, Inc. The paper company was unhappy with the quality of the work turned in by the other firm and by the hidden clause in the contract. Geoffrey Bodden & Associates, Inc. continues to do the work for the paper company today.
Case 4
Food and Beverage
Geoffrey Bodden & Associates, Inc. attempted for 17 years to work for a particularly large food and beverage corporation. After 17 years the corporation agreed to engage Geoffrey Bodden & Associates, Inc. for the sales and use tax recovery work. They believed they had a very good handle on the sales and use tax area and there would not be much in savings for Geoffrey Bodden & Associates, Inc. to find. Geoffrey Bodden & Associates, Inc. found significant savings for the corporation much to their surprise.
Case 5
Construction Industry Manufacturer
A large construction industry manufacturer who has several facilities across the state had been utilizing a firm from out of state for their ad valorem tax consulting for five years. The out of state firm was doing the ad valorem tax engagements at a discounted rate and on one year term contracts. The out of state firm handled the engagements much the same way as the rest of the industry and did not put much effort into the engagement. Their consultant only briefly visited the manufacturer's corporate office twice for a few minutes each time over the course of the five years. At the same time Geoffrey Bodden & Associates, Inc. was engaged by the company to produce savings in the sales and use tax areas. The corporate finance department was so pleased with the quality of our sales and use tax worked that they agreed to let us handle their ad valorem tax engagement to see what we could produce. Our consultant visited each facility personally and performed a very detailed review of each facilities assets. Our consultant worked on the case for several months doing very high quality work. Geoffrey Bodden & Associates, Inc. produced savings of 6 figures in the first year and each subsequent year for the duration of the contract. Geoffrey Bodden & Associates, Inc. continues to handle the ad valorem areas for the company.
Case 6
Construction Industry Manufacturer
A construction industry manufacturer that was new to the state had purchased a significant amount of new equipment and handled the ad valorem tax negotiations with the county on their own. They were under the impression that they had negotiated such a good deal with the county that they were very hesitant to allow us to review the ad valorem tax area. They finally engaged Geoffrey Bodden & Associates, Inc. for their ad valorem tax consulting and our expert consultant produced savings for the company that well exceeded six figures.
Case 7
Food Industry Distributors
Geoffrey Bodden & Associates, Inc. worked for a food distributor that had been through several state and federal audits regarding their fuel and excise taxes. Their big 4 CPA firm also reviewed those areas. The company representative was confident that there were no opportunities for savings in those areas. The expert consultants at Geoffrey Bodden & Associates, Inc. reviewed the records and found savings so significant that the company was astonished. The CPA's firm was so embarrassed that they told the company representative that our work was not credible. The company representative requested that we get our work approved by the governmental agency which regulated the tax area. Our consultants went through an audit in those areas. The auditors stated that the work presented by Geoffrey Bodden & Associates, Inc. was the best they had ever seen and the refunds were paid in full.
Case 8
Sales Tax Audit
A commercial passenger airline company was assessed $360,000.00 of additional sales tax after being audited by the Florida Department of Revenue. Geoffrey Bodden and Associates was hired to reduce the audit assessment. We reduced the assessment to $30,000.00 after several months of detailed work. The client was very pleased with the outcome. The commercial passenger airline company also made our recommended changes in the way it was paying taxes and from that point forward continually saved over $100,000.00 per year.
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