Accounting Systems The accounting system
captures valuable information required to manage a profitable business.
We help clients develop the appropriate system for them, from the simple
general ledger software packages (such a Quickbooks) to sophisticated integrated
systems. We encourage and guide our clients to be self-sufficient and to
prepare their own monthly financial statements and reports.
Business Plans Most companies use business
plans to obtain financing. The business plan should more importantly be
used by the business to guide the managers in growing the company for a
one to three year period. We have guided clients in developing the Mission
Statement, preparing the industry analysis, and preparing the financial
Business Planning We function as our
clients' strategic business advisors. We help clients plan for specific
business events. These include the formation of a new division, or the development
of a new product or service. It can also include determining the appropriate
time to add new employees.
Business Valuations Business valuations
can be prepared for a variety of reasons. These include selling a business,
buying a business, financing, divorce, partnership dispute, litigation,
tax purposes or estate planning. We review the history of the business,
its prospects for the future, and determine the appropriate method to value
Divorce Consulting Divorce is a stressful
and emotional time for both parties. We guide clients through the tax and
business aspects of divorce. This includes property settlements, child support,
alimony, division of retirement plan assets, and business valuation. We
also review the divorce agreement before it is finalized.
Estate Planning We work with the clients'
team of professionals (attorney, insurance agent, investment manager) to
minimize estate taxes. This can include a gifting program, passing the business
to the next generation, or funding the tax payment with life insurance.
These strategies could be affected by the use of trusts or other vehicles.
Financial Planning Clients are faced
with various financial issues throughout different stages of their lives.
A younger couple may need to save for the purchase of their first house
or to fund their childrens' education. Middle aged couples may want to save
for a vacation home or for retirement. Older couples may be concerned with
retirement income, nursing home costs or estate taxes. We help clients prioritize
their goals and implement a plan to meet their objectives.
Financing Advice There are numerous
sources of financing available for businesses throughout various stages
of their development. This includes traditional bank financing, equipment
leasing, asset based lending, Small Business Association, government agencies,
venture capital and private equity. We guide our clients through the maze
of financing alternatives and help them locate and choose the appropriate
We prepare compiled or reviewed financial statements for clients
who require them for financing, bonding or for reporting to investors. These
are usually required on an annual basis. Compiled statements are appropriate
when the third party reading the statements just wants them to be in conformity
with generally accepted accounting principles. Reviewed statements are appropriate
when the third party wants limited assurance that the financial statements
have been reviewed by a CPA and that we have performed analytical procedures
We have worked with attorneys to guide them through the financial
issues involved in litigation. This has included the value of the business,
the investigation of the financial activity of a business and the computation
of lost profits. We are sometimes called upon to testify in court as an
Mergers and Acquisitions We have represented
both buyers and sellers of businesses, as well as parties to the marriage
of two businesses and the separation of two businesses. These services have
included the valuation of the business, price and structure of the sale,
performing due diligence studies, identifying financing options, and assisting
in the structure and negotiation of the deal.
Tax Planning Most individuals and businesses
have the ability to manipulate their income tax liability to a certain extent.
We work with our clients to project their income tax liability before the
end of the year to determine what steps should be taken to reduce their
tax. This can include accelerating deductions, deferring income, buying
or selling assets. The wrong time to try to reduce your tax liability is
when you are preparing your income tax return.
Tax Preparation We work with clients
to prepare their income tax returns. We prepare income tax returns for individuals,
S corporations, C corporations, partnerships, limited liability companies,
trusts and tax exempt organizations.
Tax Research In the business world
very few transactions are exactly alike. Thus, the tax ramifications of
the particular transaction must be reviewed to determine the tax effects
to the client. We have an extensive tax and business library, and the skilled
staff to research the tax and business ramifications of business transactions.
We are often times able to restructure the transaction to save our clients
time and money.