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About Our Company
 What
We Do
We are a full-service CPA firm, providing
a wide variety of services to business and individual taxpayers. We
pride ourselves on knowing you and your business and tailoring what
we do to what you do. We work with you, and not around you. Our services
include, but are not limited to:
Financing advice
Need a line of credit? Working capital loans?
Mortgages? We will work with you to prepare a financing package, and
help you prepare for your meeting with the loan officers. We will also
work with you throughout the year to maintain your books and records
to minimize the year end rush.
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Financial statement preparation
There are three different types of opinions attached to financial
statements: audit, review and compilation. Each has a different level
of assurance associated with it, meaning the level of reliance that
can be placed upon it. Along with each level of assurance is an increase
in the amount of analysis that is required, and also the cost.
Audit - An audit report is the highest level of assurance, and as mentioned,
the most extensive amount of analysis. Audits require us to verify certain
account balances with third parties (banks, insurance companies, etc)
as well as testing and analyzing the activity through and around various
account balances as well as the status of the company as a whole. This
financial statement opinion is often required by the bank when you maintain
larger loans, mortgages and lines of credit. Due to the cost and extensive
nature of the analysis, audits are not necessarily the most efficient
financial statement opinion for your business.
Review – Very often, this is the best financial statement report
for your business. While it does not require the testing associated
with an audit, there is a fair amount of exploring done to the various
general ledger accounts as well as inquiry and fluctuation analysis.
Although your numbers are not dissected as with an audit, the level
of work is often more than adequate for internal use while satisfying
the requirements of most banking relationships. Combine this with the
reduced cost and the review becomes the greatest bang for the buck.
Compilation – In its simplest form, the compilation report is associated
with your period end results presented in a format that adheres to generally
accepted accounting principles. There is no formal analysis or testing
done to prepare a compilation report, although we can perform certain
enhanced procedures if necessary. This is often the report of choice
for quarterly financial statements, and for year end internal use reporting.
If you have a question on which one of these reports is the best fit
for your business, please contact your tax advisor.
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Business plans
This is the most overlooked tool for the new business, and is also
the first step for those seeking angel or venture capital investment.
Preparing the business plan requires you to plan where you are, where
you are going and how you plan to get there. You are detailing the growth
strategy of your business; you will have to be honest with yourself,
and highlight the strengths and weaknesses of your operation. The result
will be a much stronger company who can capitalize on its assets and
work to minimize its disadvantages.
The standard business plan is comprised of four sections: 1) the description
of the business, 2) the marketing plan, 3) the financial management
plan and 4) the management plan. We can help you find industry comparatives
and prepare the financial sections of your plan. What is your monthly
burn rate? Will you need financing, if so, how much? Should you sell
company stock or seek debt financing? We can help.
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Tax preparation and consultation
There are only two absolutes in life: death and taxes. While we
cannot help with the first, the latter is our business. We are experienced
in preparing tax returns for you and your business, whether your business
is a local Beauty Salon, not-for-profit Swimming Club or an emerging
Internet Solutions firm. Tax preparation goes beyond the constructing
of your tax returns, and we continue to work with you after your taxes
are filed to develop a tax strategy that minimizes taxes while fitting
your business.
While most Individual taxpayers do not have the tax planning opportunities
of the business owner, there are some strategies that may be employed.
We will work with you to make sure you are aware of the potential for
these benefits as well as advising you on the benefits of various retirement
vehicles and other tax deferral options. We can also introduce you to
our network of financial planners who work with us to develop a saving
plan that not only provides for your future, but is as tax advantageous
as possible.
Do you have a difficult tax situation? We maintain the latest tax research
materials in our library. In addition we are also available for tax
audit representation, gift tax preparation, and trust tax return preparation.
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Accounting systems
Knowledge is power, understanding your business is key to its success.
The pulse of your business runs through your accounting system, it makes
sense to ensure this system is as efficient and effective as possible.
As mentioned elsewhere on this site, we are big fans of QuickBooks for
most small and growing businesses, however good tax software is only
the icing on the cake. Under the frosting is the accounting system.
A well designed system will be simple yet effective, enabling transactions
to be controlled and financial information to be accurate without requiring
an excessive investment in time or expense. Whether your transactions
consist of thirty checks per month or three hundred, we can help you
build a system that works with your business. Our goal is to enable
you to control your business without your accounting system controlling
you.
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