Below we have listed the services that we offer to our clients along with a brief description. As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
General ledger & financial statement preparation
Customized periodic reports based on client requests
Fixed asset tracking and depreciation reports
Accounts receivable and payable services
Accounting system setup for new businesses
Computerized payroll services
Business tax return preparation (Sales & Use/Business Property)
Accounting Software Selection & Implementation
Selecting a computerized accounting software package that is right for your business has become increasingly difficult. As accounting professionals with hundreds of diverse business clients, we have working knowledge and experience with Intuit® QuickBooks® as well as other accounting programs. Our staff can help you choose and implement the system that best fits your needs. These choices, combined with our Technology Services Group, allow us to provide you with a “turn key” accounting solution.
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. Audits differ from reviews and compilations, as they are an intensive examination of your company’s systems and records providing the highest level of assurance. In addition to audits of business entities, we offer specialized reporting for governmental agencies and municipalities, not-for-profit organizations, pension plans and homeowner associations.
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.
Business Succession Planning
Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company’s day-to-day operations. With a solid background in tax and estate planning, business valuation, and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.
Whether you are thinking of buying or selling a business, expanding or transferring the existing ownership of a business, or need information relating to litigation, the amount attached to the value of your business is important. Our valuation specialists can determine the value of a full or partial ownership interest in any closely held corporation, partnership, LLC or proprietorship. We have in-depth valuation knowledge and experience in:
Estate and gift tax valuations
Family Limited Partnerships & LLCs
Closely Held Corporations
Full or Partial Interests in Real Estate Entities
Buying & Selling a Business
Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent staff has experience to guide you through the acquisition/disposition process by addressing such issues as valuation of the business interest, cash flow analysis and tax considerations during and after the sale.
Cash Flow & Budgeting Analysis
A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses. We can assist you with your financial institution in designing and securing a package that will meet your specific cash flow needs on a year-round basis.
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate taxes due on the transfer of your assets. We can show you illustrations of the outcome of your current estate plan and possible alternatives that might meet your estate planning goals in a more tax efficient manner. Business owners have an especially high need for planning in order to provide for business continuity and succession of ownership is essential.Frequently we are involved with all aspects of an estate plan including gathering the necessary information about your assets and estate planning goals, design of the plan and reviewing the documents with you, and your heirs if you wish, to assure a complete understanding. We are also there at your demise to assist your loved ones with the administration of your plan and final disposition of your assets based on your desires. If your plan calls for a trust for your spouse or heirs we can assist with that administration and advise the trustee you named. We are extremely proud to have dozens of family groups where our firm has assisted with the continuing wealth planning for four or more generations.
Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company’s financial goals.
A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Not only are many of our firm’s principals very familiar with the financial planning process, but we have a Certified Financial Planner on staff to help you assess your position and develop strategies that will enable you to achieve your goals and strengthen your financial security.
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff and valuation experts who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages. We can provide support with:
Calculation of Lost Income and Damages
Marital Property Settlements
Breach of Contract or Duty
Shareholder or Other Owner Disputes
Analysis and Valuation of Settlement Options
Medical Practice Billing and Support
Through our affiliate, Omega Medical Solutions, we are able to offer a complete solution to medical office management, billing and collections. Our goal is to leave the medical professional free to practice medicine while assuring that those efforts will be rewarded through a collection process designed to maximize the recovery of those amounts earned. Omega can assist with many aspects of medical office administration including:
Office scheduling and billing systems
Billing and Collection Services
Projections and assistance obtaining financing
Hiring and training of office staff
HIPAA reviews and training
Omega’s services, combined with our accounting expertise and our technology support group’s abilities permit us to deliver a rapid yet comprehensive medical practice system that is flexible enough to grow with your medical practice.
As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, 401(K), SEPs…) can provide significant tax advantages for businesses, their employees and self-employed individuals. The rules that govern these plans have changed significantly and you may be able to achieve even greater benefit now. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.
Please see Financial Planning Section
Reviews & Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. We provide financial reporting on two levels of assurance:
Review – some analytical procedures conducted with limited assurance
Compilation – based upon client information provided and used primarily for internal use.
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.
Our significant investments in continuous staff training, high-end tax preparation systems and extensive resources for tax research enables us to accurately and efficiently prepare federal, state and municipal returns for almost all entities and individuals. We handle tax preparation for:
Individual – Income, estate and gift
Corporations and S-corporations
Partnerships and Limited Liability Companies
Trust and estate fiduciary returns
Pension and Welfare Benefit Plans
Trust, Estate & Probate Administration
We have one of the largest fiduciary administration and tax practices in the Southeast preparing over 250 estate and trust income tax returns each year. We fully understand the rules, old and new, specific to fiduciary returns and Probate Court administration of estates and we can help trustees and personal representatives with administration, record keeping and other advice about their duties as fiduciaries.