An Accountancy Corporation
We offer a full range of tax compliance and accounting services customized to fit our client's individual and business needs. Our mission is to provide clients with personalized, responsive and cost effective solutions designed to achieve their personal and business goals.
Generally tax planning involves factual analysis, interpretation, and characterization of proposed transactions. We also address your estimated tax payments. This involves a determination and calculation of your annual and quarterly tax liability and the related cash flow requirements. Our goal in this practice area is to provide client specific advice based on an understanding of our client's needs derived from in depth discussions with our clients.
We prepare our client's individual income tax returns and those of their business entities and family trusts as well as gift tax returns when required.
During the year we pay attention to changes in your profile which may require adjustment of your estimated tax payments.
Our tax services include coordinating tax liabilities among family entities, trusts and our clients. We then relate such calculations with aggregate family cash flow, and cash needs for debt service, business growth, investments, capital expenditures, retirement, family support and lifestyle requirements.
Tax services may also include advice with respect to tax risk about uncertain tax positions for transactions where the law is not clear. The current environment of frequent changes in the tax law require careful understanding and analysis of your planned transactions and both actual and expected economic performance of family owned and operated businesses. We focus on achieving the necessary collaboration with our clients so that their interests are well served.
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We believe that reliable financial information is critical for the profitable operation of your business and investments. We provide accounting and bookkeeping services designed to augment your internal record-keeping and reporting capabilities. These services include but are not limited to:
- General ledger processing and financial statement preparation
- Bookkeeping support or advisory services on a monthly, quarterly, or annual basis
- Accounting system setup and support
- Advice regarding business operation, growth and debt structure
- Advice and guidance regarding family compensation and its impact on business growth, profitability, debt service and cash flow
- Debt service management including planning for rational debt retirement and impact on after tax cash flow
- Development of your chart of accounts
- Payroll processing advisory services
- Cash flow budgeting and forecasting
- Employee benefit and profit-sharing plan advisory services
- Business and Trust tax planning and return preparation
- Financial reporting design
- Tax Return preparation
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Our goal is to build enduring client relationships that add long-term value. Understanding your business model, factors that may affect your business model in both the short and long run, your business strategy, and your concerns about your business make us a valuable resource to you. Usually there are no easy answers to the questions and challenges businesses face today. Your allocation of time and attention to the big picture given the demand on your time from significant daily tasks involving customers, inventory, vendors and competition, we believe, is necessary to achieve the targeted results. We strive to be an effective resource for your short and long run management decisions.
These services include but are not limited to:
- Entity selection, capitalization, accounting, taxation and cash flow planning
- Accounting software selection, implementation and support
- Transaction structuring and negotiations
- Business succession planning
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Estate and Trust Planning and Tax Preparation
The estate and generation-skipping transfer taxes are repealed for decedents dying in 2010 and for generation-skipping transfers occurring this year due to the Economic Growth and Tax Relief Reconciliation Act of 2001, EGTRRA for short. The gift tax remains in effect. Property received from an estate of a decedent who died in 2010 takes a modified carryover basis. How long these rules will last and what the new rules will be cannot be predicted at this time. However the need for wealth transfer planning continues. While the law in this area may reasonably be expected to remain complex and dynamic, we believe it is in our collective best interests to be alert to changes in the political landscape for planning guidance and to re-evaluate past planning in this area so that the transfer of your assets conforms to your wishes.
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