INDIANAPOLIS - Indianapolis-based specialty tax and consulting firm McGuire Sponsel has merged with Georgia-based Ernst & Morris. The firm says the combined entity, which will continue to do business under the McGuire Sponsel name, creates a "mutual opportunity to offer additional benefits to clients." Financial terms of the merger are not being disclosed.

Ernst & Morris, located just outside of Atlanta, specializes in cost segregation, which is the process of identifying property assets in order to optimize depreciation deductions for federal tax purposes, according to McGuire Sponsel. The more than 25-year-old firm operates in all 50 states.

"Ernst & Morris is an ideal partner who will bring incredible value to our clients," said TJ Sponsel, co-founder and managing shareholder of McGuire Sponsel. "Beyond the combination of significant cost segregation expertise, we share important core values and the foundational belief that successful relationships are built on trust and integrity. We also share a commitment to serving clients with an unmatched passion for this business, focused on clients and meaningful collaboration."

Alan Smith, managing director at Ernst & Morris, says joining with McGuire Sponsel better positions the firm to help clients and partner CPA firms. 

McGuire Sponsel says the merger will not have a negative effect on jobs at either firm.