Our firm offers a wide range of services to our individual and business clients. Being a relatively small firm, we are able to offer our clients personalized quality service. 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.
(Click Service Title for Details)
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
- Bookkeeping (Monthly/Quarterly/Annual)
- Accounting system setup for new businesses
- Computerized payroll services
- Business tax return preparation (Sales & Use/Business Property)
- Personal financial statements
- Litigation support
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.
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.
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.
We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions.
The audit is the highest level of assurance service that we, as CPAs, perform and is intended to provide a user comfort in the accuracy of the financial statements. We perform procedures in order to obtain "reasonable assurance" (defined as high but not absolute level of assurance) about whether the financial statements are free from material misstatement. In an audit, we must be independent, and are required to obtain an understanding of your business's internal control and assess fraud risk. We are also required to corroborate the amounts and disclosures included in the financial statement by obtaining audit evidence through inquiry, physical inspection, observation, third-party confirmations, examination, analytical procedures and other procedures. At the conclusion of the audit, we will issue a formal report that expresses an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable framework (e.g. accounting principles generally accepted in the United States of America). As the highest level of assurance, an audit requires the most time and accordingly has a higher cost associated with the service. Audits are typical appropriate and often required when you are seeking complex or high levels of financing and credit, if you are seeking outside investors or are preparing to sell or merge with another business.
The review service is one in which we, as CPAs, perform analytical procedures, inquiries and other procedures to obtain "limited assurance" on the financial statements and is intended to provide a user with a level of comfort on their accuracy. The review is the base level of CPA assurance services. In a review engagement, we are required to understand the industry in which you operate, including the accounting principles and practices generally used in the industry. We are also required to obtain knowledge about you, including your business and the accounting principles and practices that you use, to sufficiently identify areas in the financial statements where it is more likely that material misstatements may arise. A review is substantially narrower in scope than an audit but like an audit, requires us to be independent. At the conclusion of the review, we will issue a formal report that includes a conclusion as to whether, based on the review, we are aware of any material modifications that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework (e.g. accounting principles generally accepted in the United States of America). A review is typically appropriate as a business grows and is seeking larger and more complex levels of financing and credit. It is also useful when you, as the business owner, are seeking greater confidence in your financial statements for the purpose of evaluating results and making key business decisions.
Compilation of financial statements is a service where we, as CPAs, are required to read the financial statements in light of the reporting framework being used and consider whether the financial statements appear appropriate in form and are free from obvious material misstatements. However, we do not obtain any assurance for a compilations because we are not required to verify the accuracy or completeness of the information provided or otherwise gather evidence for the purposes of expressing an audit opinion or review conclusion. At the conclusion of the engagement we issue a report that states we did not audit or review the financial statements and accordingly does not express an opinion, a conclusion or provide any assurance on them. Unlike other attest engagements, we can be independent, or we may not be independent, but if we are not we must state so in our report. Compilations can also be issued with an accountant's report or without an accountant's report (Prepared Financial Statements) based on user needs. A compilation is typically appropriate when initial or lower amounts of financing or credit are sought or there is significant collateral in place. Though no assurance is provided, outside parties may appreciate your association with a CPA, which is readily apparent in the compilation report.
Agreed-upon procedures engagements are a special type of attest service that differ from other attest services. The typical attest services involve reporting on the financial statements taken as a whole (with limited exceptions) under a specific reporting framework. Agreed-upon procedures differ because the client determines the nature and scope of work. This does not mean the client determines the methodologies or specific procedures to be employed, but rather determines the specific items to be tested. At the conclusion of the agreed-upon procedures engagement, we will issue a report that details the nature of the work performed, the findings made during testing procedures and any recommendations we believe would be relevant. Agreed-upon procedures may be appropriate in a variety of situations where your company desires independently verified and reported information, such as the inspection of documents or transactions, confirmation of information from third parties or verifying compliance with specific contractual obligations. We can help you determine when independently agreed-upon procedures are the answer to your needs.
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 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.
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years. This is performed at both the business and individual level. We also work well with existing financial advisors as our ultimate goal is to ensure you receive the maximum benefit possible.
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. Several members of Altruis have served in controller or CFO roles which provides valuable insight and practical solutions for your business.
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. The following is just a few of the areas in which we provide consulting services:
- Accounting software selection and implementation
- Type of entity selection
- Business valuations
- Buying/selling a business
- Computer systems
- Financial & retirement decisions
- Estate, trust & gift planning
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company's management team develop long-term objectives and specific strategies to facilitate your business' future growth and success.
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs...) can provide significant tax advantages for closely held businesses and self-employed individuals. 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.
Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.
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.
Estate & Trust Tax Preparation
Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
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.
Sales Tax Services
Many of our clients are responsible for collecting and submitting sales taxes in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.
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.
Certified QuickBooks Pro Advisor ®
We are a Certified QuickBooks Pro Advisor ®. We can assist you in QuickBooks ® Setup, Training, and Reporting.