Accounting Structure and Setup
Assist with the initial setup of your accounting software and customize your chart of accounts. Audit the existing structure and make and assist with recommendations for improvement.
Financial Statement & Report Preparation
Preparation of Financial Statements and Reports (monthly, etc), to give you sound historic records for accurate reporting as well as information for current and future management.
Fixed Asset Management
Calculation and recording of fixed asset acquisition and capitalization, financial and tax basis depreciation, and disposition or retirement of fixed assets.
Develop inventory valuation/costing system for manufacturing processes including job costing, process costing or activity based costing systems that match revenues to cost of goods sold.
Establish and perform routine account reconciliation procedures and analysis including documentation, formatting, and financial statement classification--preserving the work papers.
Audit Various Areas of Company
Audit the personnel department, the cafeteria or retirement plans, and other areas requiring legal and tax specialties for cost reduction, compliance purposes, and risk prevention/reduction.
Give financial and asset protection advice prior to making financial decisions that include the future sale of the company, acquisition or addition of a subsidiary to the company, full or partial liquidation or redemption, borrowing, contracting, acquisition or disposition of capital assets, and use of accelerated tax deductions--all coordinated with big picture tax or retirement planning.
Tax Strategies and Return Preparation
Advise on entity set up and ownership for best tax strategies (as well as best asset protection from a legal perspective) with S-corporations, C-corporations, General & Limited Partnerships, Limited Liability
Companies, Trusts, etc.
Prepare tax returns to meet all regulatory reporting requirements for federal, state and local tax authorities while coordinating those with the entire client tax and business portfolio strategies.