Engineered Tax Services, a Florida-based tax advisory firm, announced the acquisition of of two companies: J.E. Salazar & Associates, which focuses primarily on grant training and education, and R&D credit advisory firm Tax Credit Advisors.
With the Salazar acquisition, ETS can now assist clients with securing funding through grants, the application process for which tends to be complicated and time-consuming.
As part of the deal, which was finalized Dec. 16, J.E. Salazar owner and founder Joyce Salazar is now serving as executive director of the new grant services division of ETS, and Jaime Lujan has been named director of operations.
The agreement had been in the works for about eight months. By buying the company, ETS is able to combine its native tax expertise with the successful grants processes developed by Salazar over the years.
"ETS is always looking to create more opportunities for growth — for our employees, our clients and our communities," said CEO Julio Gonzalez, in a statement. "Government grants are designed to advance the public good and stimulate the economy, but the reality is that small businesses and nonprofits — and the accounting firms that serve them — often lack the time or expertise to pursue them."
The Tax Credit Advisors deal came about because its founder, Otto Kunz, was retiring and so had been looking for a buyer over the past few years.
"The tools he's created have brought optimal results and have withstood IRS scrutiny in an area that has seen its share of abuse," Gonzalez stated. "We're pleased that Otto is passing his legacy on to us to make ETS the best tax credit firm in the country."
Since its founding in 2000, the firm has helped American and Canadian companies in a variety of industries take full advantage of R&D tax credits by preparing extensive technical and regulatory documentation for approval.
The deal became final on Dec. 16, with ETS professionals now serving clients of Tax Credit Advisors.
