Accounting Services

Audits, Reviews and Compilations

Audits

The audit is the highest level of assurance service that a CPA performs and is intended to provide a user comfort on the accuracy of the financial statements. The CPA performs procedures in order to obtain “reasonable assurance” (defined as a high but not absolute level of assurance) about whether the financial statements are free from material misstatement.

• Intended to provide creditors, investors and other outside parties with a high level of comfort on the accuracy of financial statements
• CPA issues 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
• Typically appropriate and often required when seeking high levels of financing or outside investors, or when selling a business

Reviews 

The review service is one in which the CPA performs analytical procedures, inquiries and other procedures to obtain “limited assurance” on the financial statements and is intended to provide a user with a level of comfort on their accuracy. The review is the base level of CPA assurance services.

• Intended to provide lenders and other outside parties with a basic level of assurance on the accuracy of financial statements
• Typically appropriate as a business grows and is seeking larger and more complex levels of financing and credit
• CPA issues review report

Compilation

Compilation of financial statements is a service where the role of the CPA is more apparent to outside parties, and as such, the requirements for performing this service are more explicit. The compilation report is the first page before the actual financial statements and is written by the CPA on her firm’s letterhead.

• Intended for use by lenders and other outside parties who may appreciate the business’s association with a CPA without requiring a level of assurance on the accuracy of financial statements
• Typically appropriate when initial or lower amounts of financing or credit are sought or significant collateral is in place
• CPA issues compilation report

Consulting Services

Business Entity Selection

Choosing the form of entity of your business (e.g. "S" corporation, sole proprietor, limited liability company) is a crucial decision that can have longstanding tax implications, positive or negative. We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company.

Buying & Selling a Business

Business sales are challenging for the buyer and seller alike.  The structure of the transaction is a critical step in the process.  We can guide you through the acquisition or disposition process by addressing operational, financial and tax issues. 

Tax Services

Tax Planning

Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.

Tax Preparation

We prefer to take a proactive vs. reactive approach to tax services.  By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that may minimize both your current and future tax liabilities. Some of the tax services we offer include:

• Individuals - Form 1040
• C Corporations - Form 1120
• S Corporations – Form 1120S
• Partnerships - Form 1065
• LLCs/LLPs- Form 1065
• Estates, trusts & gift - Forms 706, 1041 & 709

We prepare business and individual tax returns for all 50 states.