What We Offer
Our three main services are:
Accounting, Attestation, and Tax Preparation
Accounting Services
As a full-service accounting firm, we offer year-round accounting services to our clients. The most in-depth accounting service we offer is preparing your monthly accounting from your bank statements, credit card statements, and check stubs. We reconcile the bank statements each month and prepare all necessary adjusting journal entries. This is our highest level of service designed to let small business owners run their business and have very little accounting duties.
We also work with internal controllers, CFOs, accountants, and bookkeepers to adjust and correct accounting data prepared by your company. As your business grows, we recommend you hire internal staff who handle some of the day-to-day accounting tasks. We then provide outsourced accounting services at the end of each month to make necessary corrections and adjusting entries. We can also provide this service at the end of each year if your accounting is being adequately handled by internal staff.
We believe good accounting is the key to success in every business. Good accounting can come in many different forms. We are here to help you find the right fit for your company.
Attestation Services
As a third-party accounting firm, we provide attestation services to our clients. Attestation services consit of compilation financial statements, reviewed financial statements, and audited financial statements.
A compilation consists of presenting financial information prepared by management in a standard, readable form. Compilation financial statements provide no assurance that the financial statements are free from material error. They are often used by business owners to easily analyze financial data year-by-year or period-by-period at a more affordable cost than the other levels of attestation. This type of financial statement is required by some banks for obtaining or maintaining a loan or line of credit.
Reviewed financial statements provide limited assurance that there are no material modifications that need to be made for the statements to be in conformity with Generally Accepted Accounting Principles. We inquire with management and perform analytical procedures as part of our reviewed financial statement process. Analytical procedures include comparing line-items on financial statements year-by-year and explaining material differences as well as creating expectations and conclusions on several key accounting ratios. A review is much more in-depth, and therefore more expensive than a compilation, but much less in-depth and costly than an audit. This type of financial statement is often required by banks and insurance companies, as well as for obtaining funding from government programs.
Audited financial statements provide reasonable assurance that the financial statements are in conformity with Generally Accepted Accounting Principles. An audit is a multi-step process consisting of planning, fieldwork, and reporting. An audit is the highest level of assurance offered and is often needed by banks, insurance companies, funding from government programs, and for maintaining not-for-profit tax status. It is the most expensive attestation process but provides the most assurance.
Tax Preparation Services
We prepare income tax returns for businesses, individuals, not-for-profit organizations, and fiduciaries. Most federal income tax returns are due on March 15, April 15, or May 15 each year. Normally income tax services are prepared at the culmination of accounting services and/or attestation services before these due dates. As your business and/or personal financial situation becomes more complex as you enter new states, gain new revenue streams, buy or sell property, start a business, buy or sell a business, change the tax structure of your business, hire employees, and have new partners join your team, your tax situation will also increase in difficulty.
We encourage individuals with a business, rental property, or a multi-state return to hire a paid tax preparer to prepare their returns. Returns that are simpler than this may be self-prepared. However, we have seen many self-prepared and inexpensively prepared returns with one or more of the above situations have many mistakes, costing taxpayers thousands of dollars. The more complex your tax situation is, the more we believe a paid preparer will give you the accuracy and confidence needed to worry less about preparing tax returns and focus more on your family, business, and career.