SERVICES
Whether you're an individual or a business, no client is too small for our complete attention and care. We focus on four core areas of expertise: tax planning & preparation (for individuals and businesses), bookkeeping, audit & assurance, and start-up assistance. Please review the specifics of our services below and contact us with any questions. We're always eager to discuss your needs and find the best ways way to protect your hard-earned income.
INDIVIDUAL TAX PLANNING & PREPARATION
We understand that tax planning and preparation can be intimidating, and that minimizing your tax liability can be complex. Allow our experts to handle it for you, and we’ll even review your prior years’ returns for any missed deductions.
We are diligent about remaining up to date on the changing tax laws and will examine all tax-saving opportunities available to you. We are committed to minimizing your tax liabilities and maximizing your future opportunities, all while remaining in full compliance with IRS and State statutes.
With our comprehensive tax planning, we work with you throughout the year to develop a customized plan with tax-saving strategies tailored to your unique situation. Our personal, one-on-one service and expert tax return preparation and advice will give you peace of mind, knowing that your tax return is in capable hands.
If you have any questions about our tax planning services or tax return preparation, please contact us for a free consultation.
BUSINESS TAX PLANNING & PREPARATION
Maximizing your after-tax income is our priority. Planning is the key to successfully and legally reducing your tax liabilities.
Throughout the year we guide you on the tax implications of your business decisions and how to optimize your tax saving strategies.
We are diligent about remaining up to date on the changing tax laws and will examine all tax-saving opportunities available to you.
We can also advise you in ways to improve your bookkeeping so that the tax planning and preparation process is more efficient and cost effective, however outsourcing your bookkeeping to us is the easiest way to create peace of mind and allow you to focus fully on growing your business.
BOOKKEEPING
Accurate record keeping is a fundamental requirement for running a profitable business, but it can also be complicated and time intensive. Allow us to be your external accounting department, offering complete relief from the never-ending flow of bookkeeping tasks, including:
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Financial statement preparation
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Bank statement and credit card reconciliations
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Bill payments and accounts payable
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Invoicing and accounts receivable
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Payroll processing
With your trusted partners on the job, there is never any concern about the reliability of the data. Your worries are eliminated.
AUDIT & ASSURANCE
For small businesses looking to secure a loan, expand a line of credit, raise significant funding, or to even sell the business, you will likely need some level of assurance provided by your CPA that depends on the requirements of the bank or other parties. Understanding the differences between a preparation, compilation, review, and audit should be left to your CPA, however below we provide a brief description of each. Please call us if you have any questions about which type of report is right for you.
PREPARATION
Financial statement preparation is for your own use, so you can have current information on the financial standing of your business.
We can prepare your financial statements directly from the records you provide, but it is more efficient and less costly when utilizing our bookkeeping services to start.
COMPILATION
A compilation is generally requested by lenders and other outside parties who don’t require a “level of assurance” on a corporation’s financial statements but want to see that the corporation is associated with a CPA.
It’s a basic summary of your company’s financial statements written by a CPA. The compilation is the first page before the actual financial statements provided to those requesting.
Unlike a review or an audit, a compilation provides no “level of assurance,” and the CPA performing the compilation is not required to be independent of your business, which is why it naturally goes hand-in-hand with our bookkeeping services.
REVIEW
A financial review is a limited examination performed by a CPA, reporting on the plausibility of your financial statements, and may be requested by prospective lenders, buyers and investors.
By performing a review, we provide a “limited assurance” on your organization’s financial statements; simply that the financial statements are free from any material misstatements, and that they meet generally accepted accounting principles.
AUDIT
As the highest level of assurance, an audit typically is appropriate and often required when you’re seeking major financing or credit, raising equity, planning a public offering, receiving funding from the federal or state government, or preparing for a sale or merger.
An audit provides “a reasonable amount of assurance,” which translates to the highest level of assurance, that a corporation’s financial statements are accurate and devoid of any material misstatements.
In an audit, the CPA is required to obtain evidence and confirmations via:
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Third-party confirmations
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Inquiries with appropriate personnel
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Physical inspections and observations
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Substantive testing and analytical procedures
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Examination of supporting or source documents
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Evaluations of internal control systems and fraud risk
The CPA is also required to determine whether her independence has been impaired, and if it has, then she is not able to perform the audit engagement.
Finally, the CPA will issue a formal report that expresses an opinion on whether the financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting framework. If any significant or material weaknesses in your system of internal control are identified during the audit, the CPA will report them to you and discuss ways in which you can improve your business.
START-UP ASSISTANCE
For many entrepreneurs who start their own business, managing their company’s finances and taxes can be a full-time endeavor in and of itself—not to mention keeping up with the impact that being a business owner can have on their personal finances. That’s where our firm can help relieve the burden.
If you’re starting a new business, our firm can guide you through the process of entity selection, provide valuable tax planning advice, and help you optimize your accounting structure.
When your business grows to the point that you need professional back office and tax preparation support, we can transition to delivering comprehensive, affordable solutions that allow you to focus on growing your business—not day-to-day financial management.
We will partner with you throughout the year to ensure that your new business complies with the latest tax codes, that your tax payments remain on track, and that your tax burden is reduced whenever possible. We’ll also ensure that your personal finances are on track and that you are taking full advantage of any potential tax savings related to your unique situation.
Let us be your trusted financial advisor—with you every step of the way as your business and personal financial needs evolve. Contact us today.