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We advise clients regarding the many issues surrounding business formation. Some issues include preparation of a business plan, cash flow projections, bank negotiations, funding, establishing identity with a multitude of governing authorities, and choice of entity.
There are many considerations in determining the appropriate choice of entity. We provide analysis and recommendations regarding sole proprietorship corporations, S-corporations, limited liability companies, partnerships, limited liability partnerships, family limited partnerships and trusts. It is also important to determine if a change in entity choice is warranted during the life of the business. |
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There are three reporting levels for financial statements, compilation, review and audit.
Compilation of a financial statement is the presentation in the form of financial statements, information that is the representation of management without undertaking procedures to express any assurance on the statement, and generally include professional general account reconciliation and adjustments.
A review consists principally of inquiries of company personnel and analytical procedures to provide limited assurance that the financial statements are presented fairly in accordance with statements of standards for accounting and review services issued by the American Institute of Certified Public Accountants.
Audits contemplate obtaining an understanding of the internal control structure or assessing control risk, tests of transactions and confirmation of accounts providing the auditor with sufficient information in order to provide a reasonable basis for expressing an opinion on the financial statements as a whole regarding fair presentation in accordance with generally accepted accounting principles and an opinion as to whether the financial statements are free from material misstatements.
Even more important than the preparation of financial statements is the assistance we can give you in using the statements to manage your business more effectively and profitability. |
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Our services encompasses a wide variety of services including but not limited to:
- On-site controller or management teams
- Cash flow projections
- Budgets
- Merger and acquisition assistance and due diligence reporting
- Bank negotiations
- Buy/sell agreement assistance
- Compensation and fringe benefit analysis
- Stock option plan recommendation
- Accounting system design
- Accounting personnel training and support
- Lease verses buy decisions
- Real estate sales acquisitions
- Pension plan accounting
- Succession planning
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Our services include preparation of federal and multi state returns, tax projections. Estimated tax payment calculations, and extensive year round tax planning to minimize or defer taxes. We consider the use of tax credits such as research and development, manufacturing investment credit, enterprise zone and targeted jobs credits whenever applicable. We also maintain various carryover and depreciation schedules for our business clients. |
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We have experience representing businesses before the Internal Revenue Service. We also have had experience representing businesses and individual before other taxing authorities, such as, the Texas Franchise Tax Agency, The Texas Workforce Commission, and other regulatory departments and agencies. |
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Where other professional services such as banking, pension administration, real estate, legal council and specific industry consultants are required, we can draw upon our professional relationship with respected professionals who will service you well. |
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