AUDITS | REVIEWS | COMPILATIONS
Audits
Stockholders, creditors, and private investors often need assurance that the financial statements accurately present the true financial position of a company. In addition, some other types of entities must undergo an annual audit as well. These can include not-for-profit organizations, retirement and benefit plans, local governments, and other organizations receiving government grants.
An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements. Based on findings, we issue a report on whether the financial statements are fairly stated and free from material misstatements.
Reviews
Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures applied to the financial statements, and various inquiries of your company’s or organization’s management team. Based on findings, a report is issued on whether we are aware of any material modifications that should be made to the financial statements.
Compilations
In a compilation, the financial statements are the “representation of management.” Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on knowledge of accounting principles and a general understanding of your organization. The compilation report issued states that the financial statements were not audited or reviewed and that no opinion, conclusion or assurance can be expressed on the financial statements by us.
TAX SERVICES
Tax laws are complex and ever changing. By keeping current on new tax laws and legislation, we guide our clients towards tax planning opportunities that minimize both current and future tax liabilities. Let our expertise, experience, and year-round client service assist you in whatever your tax needs are. Tax services offered include:
- Tax planning & return preparation
- Individuals
- Corporations
- Partnerships
- LLCs/LLPs
- Estates, trusts & gift
- Not-for-profit organizations
- Employee benefit plans
- Taxing authority representation
- Divorce and support issues
TAX PLANNING
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income. We make it a priority to enhance our awareness and education of the current tax law by attending continuing professional education. Our goal is that individuals and businesses pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.
ACCOUNTING SERVICES
Whether you’re just starting out or an established organization, you may have more important things to do than to do the accounting. We can take care of your accounting needs, so that you can focus on growing your business or organization. Accounting services we provide:
- General ledger and financial statement preparation
- Bookkeeping (monthly, quarterly, or annual)
- Software and accounting system setup and support
- Payroll processing
- Bank reconciliations
NOT-FOR-PROFIT ORGANIZATIONS
Our firm has a group of professionals who understand and are passionate about providing services to nonprofit organizations. We work with public charities, private foundations, and most other forms of tax-exempt organizations. Not-for-profit services include the following:
- Audits, reviews, and compilations
- Accounting services
- Tax planning and preparation
• Form 990, 990-EZ, 990-T, and 990-PF
• State filing requirements
ESTATE, GIFT, AND TRUST TAX PREPARATION
Our estate and fiduciary experts can assist with the tax preparation required when assets have been placed in a trust, when a gift tax return is required, or when you or a loved one has deceased. There are many election rules and distribution rules, and filing deadlines with the administration of trusts and estates that are complex. Our goal is to make this process as painless as possible. Estate, gift, and trust tax preparation services include:
- Estate tax return preparation (Form 706)
- Gift tax return preparation (Form 709)
- Fiduciary income tax return preparation for estates (Form 1041)
- Fiduciary income tax return preparation for trusts (Form 1041)
FAMILY OFFICE SERVICES
By utilizing the services of experienced family office service professionals, high-net-worth families can achieve improved financial management and receive valuable guidance in a cost-effective manner. Our goal is to give families peace of mind combined with financial and administrative freedom. Family office services we provide include:
- Bill pay
- Cash flow management
- Household payroll administration
- Fiduciary support services
- Tax return preparation (individual, trust, gift, private charitable foundation, estate)
- Tax planning
- Personal financial statement preparation
ADVISORY SERVICES
Our team also offers advisory services. We want to see your business or organization succeed and realize that you may need specialized services at times. Other services we provide:
- Entity options for new businesses
- Cash flow management
- Strategic business planning
- Accounting software selection and implementation
- Buying/Selling a business
- Succession planning