SERVICES

Entrepreneurs and business owners focus their attention and minds on new ways to drive growth and increase profitability. Time is often spent on account management, new business development, and product or service innovation, talent recruiting, marketing, and other strategic initiatives. Energy is often exerted on finding new ways to move the needle and push the company to new heights. Other essential tasks such as accounting and financial reporting, often fall towards the bottom of the list for many. While not as exciting as other parts of the business, a robust, accurate, and timely accounting function is important to the overall vitality of the company. Ownership and management need to have access to reports that paint a clear picture of the financial health of the company. Without this information, they are unable to make the best decisions possible. For this reason, it’s essential to regularly review your accounting, bookkeeping, and financial reporting process to ensure it’s functioning at peak efficiency.

From time to time business owners and managers have needs that extend beyond the tax, accounting, and audit services traditionally offered by accounting firms. It’s during these times that important financial, operational, and other strategic decisions are evaluated. Planning to expand to another location, creation of a succession or exit plan, and raising capital for an acquisition requires careful planning and consideration. A concise understanding of not only financial concerns but also operational and other issues is imperative. Quite often, the guidance of a seasoned provider can help to refine objectives, identify opportunities, uncover obstacles, and reduce the chance for unexpected issues to arise. When facing these situations, it’s essential to partner with a provider that has the depth of knowledge, experience, and network to put your business in the best position possible.

From time to time, privately held companies, non-profit organizations, and independent schools of various sizes, are required to undergo a financial statement audit or other assurance engagement. The purpose of an audit is to obtain an independent opinion about whether a company’s financial statements are stated in accordance with specified criteria.  Depending on the level of assurance needed, companies may be required to have a financial statement audit, review, compilation, or other procedure. The result is a report that provides insight to owners, directors, trustees, banks, creditors, suppliers, and government agencies as to a company’s financial position. The challenge many businesses face is finding a qualified provider who is not only focused on proactive communication and client service but also on financial reporting and technical proficiency. While the latter is important, it’s the former that drives value and comfort for the company.

Managing an estate can be a challenging task. While every taxpayer wants to pay the least amount allowed in income taxes, the goals and challenges of estate administration extend far beyond this premise. There are several items that must be considered when establishing an estate, including how assets should be managed, distributed, and how they will be used. The challenge for many is finding a provider that not only understands these planning issues but also has the knowledge to identify the right mix of solutions for each estate. While some solutions require legal expertise to ensure the proper estate set up and structure, other solutions are more financial in nature. Wealth preservation and management, gifting strategies, insurance planning, and charitable giving play an important, but different role depending on the estate’s needs and goals. For this reason, it’s crucial to partner with a provider who understands the complexities on the financial side of estate planning and administration.

Most business owners and high net worth individuals focus their attention on finding ways to increase revenue, streamline operations, enhance profits, and drive overall growth. When time is set aside to address tax optimization and planning, the focus is often on the needs and opportunities of the enterprise(s). While tax management is essential to the financial vitality of any business, attention must be directed toward individual taxes as well. Everyone involved in one or multiple LLCs, S-corporations, C-corporations, or partnerships, should be proactively managing their taxes to take advantage of opportunities throughout the year. Unfortunately, this all too often falls to the bottom of the list because owners often lack the time, expertise and/or resources to stay ahead of the curve.