Our firm provides “basic services” that are focused to our target client which is a small business (less than 50 employees) and individuals. However, we have access to services (and knowledge thereof) that we think makes our firm much different than our competition. We take great pride in not only knowing what we know but also recognizing what we don’t know and knowing where to find a solution to a problem.
Tax Preparation & Planning
This is the foundation on which our firm was built and will continue to be an important part of what we do. The tax preparation services range from individual, business, trust and non-profits. No client is too small but some clients may be too large. You can feel comfortable to know we recognize when a client needs to be moved to a larger provider.
The service offerings range from helping our clients prepare accurate financial statements for internal use to being a back-up to your internal or external QuickBooks provider. Where appropriate, we will prepare compiled statements, and if our clients need an opinion for either a reviewed or audited statement, we have external relationships to meet those needs based on our client’s complexity and needs.
Our subject matter expertise in this area is one of our strengths and will be a significant growth area for us. We realize the investment a client makes in their building, either through ownership or tenant improvements, will be one of the larger items on their balance sheet. Accordingly, we think this asset should be “tax managed” appropriately to take advantage of the many planning opportunities that impact real estate or tenant improvements. Our service offerings include:
- Cost Segregation Studies: We do not do the studies internally but will help find a provider (including negotiation) that best fits your needs.
- Repair Studies: The new rules that are effective for calendar years 2014 and in the future create significant opportunities to maximize current repair deductions. We can help navigate the rules and apply them accordingly to help determine if a repair deduction is appropriate or if capitalization is required.
- If you have built a small building, or have done significant renovations, a full cost segregation study may not be of cost benefit. However, we can help determine the appropriate depreciable life classification (5,7,15,27.5, or 39-years) of the construction costs to help maximize the current depreciation deduction or to determine what can be expensed as a current repair.
- 179D Studies: We do not do the studies internally but will help find a provider (including negotiation) that best fits your needs.
We do not provide investment offerings for our clients but we do provide common sense financial planning advice. We can be of help with questions such as:
- Can I retire and if not now, when?
- What do I need to save to accomplish my goals?
- Does my current investments make sense for me and my family? We recognize there is a fine line between offering specific investment advice (and the rules that are attached) but we will not ignore a situation if we think a client is being taken advantage of or does not understand what the risk is within their investment portfolios. In our opinion, too many of the smaller investors are not getting the attention to what they need and accordingly, guidance is appropriate.
- Do I have my risks managed? Do I have enough insurance? What happens if I get run over by the “donut truck” tomorrow?
- What happens if I don’t have a will? We have several attorneys we have worked with that we can help find one that fits your situation.
- Is long-term care insurance appropriate?
- How do I cover the cost of education for my children or grandchildren?
Our financial planning approach is basic. We are not going to tell you how you should spend your money but we will tell you when you might run out of money.
We provide a full range of payroll services that gives our clients an additional provider option. In many instances, the large companies are just that, too large and cannot cater to individual company needs. We can provide a full range of services from check writing to completing and filing all of the payroll forms. Our fees are very competitive but we provide greater flexibility to meet the needs of the small business.
We do not have the capability of providing all of the services of a larger CPA firm but we can help you find a solution. Some of the examples of service offerings we have resources for, to meet the needs of our clients, include but not limited to:
- Research & Development Credits: This credit was made permanent and many businesses qualify but don’t realize they do.
- Section 45: Applies to contractors who build residential homes and owners of newly constructed multi-family residential buildings. The credit is up to $2,000 per unit and available if certain energy efficiency standards are met.