Consulting Services

Accounting Systems Design and Implementation

Information is the foundation of decision making, and operating any business involves a succession of decisions between alternate courses of action. With accurate, timely and concise information, you can make effective and efficient decisions. Your accounting system is the greatest source of information about your business, and is the most valuable management tool you can employ. Every business is unique, and therefore, every accounting system should be custom designed. We will work with you to design a system that provides the information you need to run your business, and we will train your staff to implement the system properly. If you already have an accounting system, we can analyze and improve its effectiveness and value to you.

Starting A new Business

If you are thinking about starting a new business, you should know the steps to take to get off to a successful start. Our experienced staff will help you make the decisions that will have an impact on the direction and growth of your business for many years. We will integrate your personal financial and tax position with the anticipated financial activities of the new business and formulate favorable tax strategies.. We will recommend the type of organization to use (i.e. C Corp, S Corp, LLC, etc.) We will also address common questions and problems related to the startup and operations of your new business.

Business Plans

Developing a set of plans that outline your goals and objectives and the strategies for accomplishing them greatly improves your chances of success and achievement of those goals. A well prepared business plan is also helpful in obtaining investment capital from outside sources. Our computer software designed for business plans will enable us to prepare a professional presentation package with all key issues and factors addressed in a concise and understandable format. Financial projections accompanied by graphs and charts combined with narrative descriptions, will convey an impressive display of thoughtful planning and organization. Furthermore, the process of developing the plan will often reveal obstacles and result in improved ideas.

Internal Control Studies and Design

The internal controls established for your business enable you to observe and evaluate the accuracy and effectiveness of your operations. Internal Controls are established to assure that procedures are performed properly and in accordance with your directions. Controls also help minimize mistakes and misconduct, while reducing the amount of time you must spend on administration and evaluation.

Lease vs. Purchase Analysis

We can advise you on the best course of action for capital asset acquisitions. Lease or Buy analysis takes into account a multitude of factors, including your cash flow and tax positions.

Bankruptcy Planning and Accounting

Our firm has experience in providing services required by any type of bankruptcy. We have been appointed by bankruptcy courts to provide accounting services in Chapter 7 bankruptcies and also Chapter 11 reorganizations. We have prepared plans of reorganization and negotiated payment plans with the I.R.S. and other taxing authorities. Special financial reports are prepared to meet court needs as well as to provide management with timely analysis of operations under a plan of reorganization. We can assist in preparing operating budgets and business plans to preserve your business operations in a reorganization.

Divorce Accounting

Our C.P.A.'s and staff are experienced in handling various aspects of divorce accounting. We can assist in gathering , organizing and analyzing financial records to provide accurate information required by the divorce proceedings. We can also assist in providing valuation analysis of businesses, property and other assets. We can assist in preparing fair and accurate property division plans.

Representation Before the I.R.S., State and City

As Certified Public Accountants, we are specifically licensed to represent you and your business before the I.R.S., State and City taxing authorities. Whether the issue is an audit, collection matter, information inquiry, penalty assessment or any other item, we can step in and represent you. Our experienced staff is well trained in handling all of the above matters with confidence and success. In most cases, you will never be required to have any personal contact with the agency.

Pension and Profit Sharing Plans

Our staff will explain the various types of plans available and develop strategies to meet your needs. These plans can be very simple or extremely complex depending on your financial structure and goals. As one of the few remaining true tax shelters, the benefits you receive are subsidized by tax savings and deferrals, enabling you to maximize the benefit and effectiveness of your investment funds. We will work with you to establish the plan(s) best suited to your business and personal financial structure, integrating them with your projected future needs.

Retirement Planning

It is never too early to begin retirement planning. Today's work force may not be able to depend upon government subsidies to ease the burden of retirement. Even if funding is currently short, adequate planning will enable you to identify various avenues available to meet your long-term retirement needs. Time is essential to this phase of your finances. As time passes, the opportunities diminish and the costs increase. We will work closely with your financial planners, investment advisors and insurance agents to arrive at a set of plans designed exclusively for you and your family.

Estate Planning

As your wealth accumulates over your lifetime, plans of action must be developed to protect and preserve your assets for future needs and for the needs of your family. Estate planning techniques will structure your personal and business finances in ways designed to safeguard your assets and minimize tax and probate costs.

Medical Practice Management and Control Studies

We have conducted management and control studies of medical practices to help identify problem areas in the practice. Our studies include analysis of billing and collection procedures and their effectiveness, management controls and their efficiency,
personnel policies and compensation formulas, information storage policies and procedures, computer systems, pension and profit sharing plans and much more. We can also assist the physicians in developing plans and procedures for allocations of revenues and expenses.

Assistance in Securing Loans

Our firm can assist you in obtaining loans from various outside sources. We will help prepare loan application forms, assist in gathering and presenting financial information and deal directly with any lending institution you might choose. Over the years, our C.P.A.'s and staff have developed close working relationships with many of the local lenders. We know what criteria they establish and what information they need, and they are familiar and confident with our work. We often know the exact person in an organization with the authority to provide the requested credit, and will frequently meet directly with that person to provide information beyond the scope of an application. This personal relationship will usually generate greater, improved consideration in borderline situations.

Management Advisory Services

Our team approach to combining the experience and training of all of our C.P.A.'s and staff, enables us to advise you on just about any aspect of managing your business and personal finances. We offer consulting services in the areas of taxation, finances, planning, operations, information technology, human resources and litigation services, to mention just a few. Pose us a question or describe a problem or obstacle, and we will let you know what services we provide to resolve the issue.

Computer Hardware and Software Implementation

Our firm is completely computerized and our staff has extensive experience with the implementation of computer systems for many of our clients in a wide variety of industries. We can evaluate the effectiveness of a system in providing the information and services that your business requires. We can perform cost-benefit analysis to determine if the cost of a system is reasonable for the specific information and services it provides. We will also work with your staff in the training and effective use of the system.

Mortgage Analysis

With the wide variety of innovative mortgage packages available in today's financial market, it has become an increasingly complex decision process to choose the best mortgage package. We are familiar with the forms and different characteristics of the various types of mortgages as well as the costs associated with them. We can analyze your financial and tax positions, combined with your goals and plans to help you choose the mortgage best suited for your needs. We can also advise you on whether or not there would be an advantage to re mortgage. In addition, we can perform analysis to determine whether or not your mortgage is credited properly in accordance with the agreement.

Debt Structure and Consolidation Analysis

Our trained staff can analyze your debt structure and offer suggestions for alternate courses of action. We can analyze factors to determine the cost and benefits of debt consolidation, as well as assist you in obtaining debt consolidation financing.

Amortization Schedules

Our computer amortization software can prepare any type of loan, land contract or mortgage analysis you may require. Both present value and future value computations can be generated. We can calculate many different variables such as the amount of a payment required by the terms of any loan, the number of payments required, balloon payments, payoff amounts at any point in the loan, the amount of a loan for a given payment and interest rate and much more. We can calculate the differences caused by changing proposed loan variables such as interest rates, compounding periods, length of loan and other variables. Payment schedules are prepared in an easy to read format.

Analysis of Commercial Lease Cost Provisions

Most businesses will eventually enter into a commercial lease. These leases are usually complex and require the assistance of an attorney's services. The attorney, however, will rarely address the dollar amounts of costs involved, they are more concerned with other issues of law and protection. Unfortunately, many commercial leases do not spell out all of the costs in a clear and concise fashion. In addition to a base rent amount per square foot, there are generally provisions to add on costs for property taxes, common area maintenance and building operations. The actual amount of rent you pay is frequently more than the monthly rent you think you have agreed to pay. Our staff will provide an analysis of estimated add on costs, enabling you to understand the full extent of your financial commitment.