tax prep, planning & audit representation
At Scholl & Company, CPA, we view tax compliance as much more than just filling in tax forms on time. Instead, we treat compliance as an important link in a plan to maximize your tax advantages and meet your financial goals.
Tax Planning Can Be A Competitive Edge
It’s vital in today’s economy for you and your business to take advantage of effective tax advice and planning. Effective tax planning can give you and your business a significant competitive advantage.
Whether you’re a small owner-managed business or have millions of dollars in sales and many locations you need to incorporate smart legal strategies for reducing federal and state income and capital tax bite at every level.
Are you confident you’re taking advantage of every tax break you deserve?
The world is full of "tax preparers" who can put the "right" numbers in the right boxes on the right forms by the right deadlines. But what are they doing to make sure you get all the breaks you deserve? When was the last time your tax preparer came to you and said "here's an idea I think will save you money?"
At Scholl & Company, we believe proactive tax planning is the key to keeping more of what you make. Proactive tax planning means scouring your income and expenses for every available deduction, credit, loophole and opportunity. And without "aggressive" strategies, "gray areas" or "red flags."
What about tax audits?
Disputes with tax authorities can be complex affairs that require an experienced adviser at your side. We have an admirable record of representing clients in the best possible light before all levels of taxing authorities. We understand the subtleties, implications, and ramifications tax regulations and find the best options to help you meet and overcome these controversies. We assess your situation and prepare and present a comprehensive and convincing audit defense. With our extensive experience working with the various government agencies we can put you on the path to a prompt resolution. While we aggressively pursue tax savings for clients, we base those claims only on solid tax law and tax rulings. Our record reflects our philosophy of presenting sound and supportable claims. Moreover, we can offer ideas and suggestions to help minimize or prevent future problems.
Accounting & Assurance
Your financial statements play an important role in establishing the credibility of not only your personal but also your company's financial position and help you plan for your future growth. At Scholl & Company, we provide different levels of assurance for your financial statements including compilations and detailed reviews. If you need to audit financial statements we have specialized services which will help you prepare for the most efficient audit possible.
As a full-service CPA and business advisory firm, Scholl & Company provides all of our clients with the precise level of accounting and assurance services that’s right for their business. We have the technical expertise to diagnose your problems and offer established, real-world solutions. You can count on your Scholl & Company team for the clarity and guidance you need move forward with confidence.
We can provide comprehensive bookkeeping services for your business or personal finances. The last thing you need is the headache of dealing with bank reconciliations, piles of receipts and updating your accounting records. Or, worse yet, always wondering if your records are even providing you with an accurate picture of your business or finances.
We can take the all or a part of your bookkeeping burden off of your plate and facilitate the smooth and successful functioning of your finances. A combination of unique processes and cutting edge technology enable us to undertake outsourced bookkeeping activities for Small and Medium Business Enterprises.
We offer bookkeeping services that are tailored to your specific needs. Whether you want us to handle all or part of your bookkeeping, we will help organize and keep your books up-to-date and provide you with financial statements on a monthly or quarterly basis as you need. We will give you the freedom to work on your business and not on the books.
Our Bookkeeping Services are usually fixed-fee arrangements that may include,
but are not limited to:
- Bank, loan and credit reconciliations
- Financial statement preparation
- Cash flow reports
- Profit improvement reports
- General ledger maintenance
- Account receivable
- Account payable
- Tax preparation
- Tax planning
- Sales tax reporting and monitoring
- Complete payroll processing including all tax forms, direct deposit, etc.
- Customized bookkeeping processes as you need
Scholl & Company offers a wide variety of payroll and tax filing services at a very competitive rate that will allow you to focus your time and attention on activities that will grow your bottom line. With the complex ever-changing rules that govern payroll and payroll taxes, non-compliance with even one of these regulations can produce a big financial cost to you. Our payroll processing solutions can help you reduce those risks, giving you the peace of mind so that you can focus instead on what’s ahead for your business.
What does our Payroll Solution offer you?
Our system automates payroll processing so completely that you simply enter payroll data over a secure Internet connection. Our payroll application and professionals do all the rest. Most importantly -- and unlike the national payroll services -- the unmatched benefit of our personal service and our trusted, professional relationship with you are there with you.
Here are some key features of our payroll solutions:
- Simplified, easy-to-use data entry.
- Direct integration with your QuickBooks® data file
- Calculations for the federal and all 50 states, plus the District of Columbia and Puerto Rico.
- Handles virtually all pay types.
- Multiple payroll schedules and multiple locations.
- Filing of all quarterly and annual federal and state payroll forms.
- Full array of electronic services including direct deposit, tax payments, and electronic filing.
- Complete year end W-2/1099-MISC form service.
- Printing of third-party checks such as garnishments.
- Tracking and accrual of sick, personal, and vacation time.
- Full comprehensive set of reports available 24/7.
- Employee portal access for paystubs and W-2s.
- and much more...
Just give us a call (888) 758-5966
or click here to email us
and we will be happy to provide you with a
no-obligation proposal for your payroll services.
business sales & aquisitions
Selling your business?
One of the first, and most crucial steps, in the process of selling your business is that of recasting your financial statements. What does this mean?
You've worked hard and wisely to minimize your taxes. You've provided yourself and your family financial rewards, put your children or other family members on the payroll, and reinvested your profits back into capital improvements. All this to keep as much of your business profits and assets in you and your family's hands, and out of the hands of the tax agencies.
Buyers want to see the cash flow potential of the business under their management, not yours. Thus, you need "recast" your financial statements to make them easily understandable and show the true profit to the buyer. If you want the buyer to see the value in the price of your business it is incumbent on you to make sure the financial information presented during the due diligence process supports your price.
We work with you to recast your existing financials into something that’s more easily understood by the buyer. Essentially, we help you adjust your past income statements (at least the last three years) to reflect what would have happened if you made some crucial adjustments to how things were processed.
Buying a business?
In reality, you’re not buying a business. You’re buying either that business’s tangible assets, customers, their talent (i.e., employees), or their profits. In the best situation you're buying all four. The acquisition of a business can be a life-changing event involving a large financial commitment and a considerable amount of your time. Performing the proper due diligence is critical to obtaining the facts and accurate information required to make intelligent decisions and reduce your potential risks.
From a buyer's perspective, due diligence refers to the investigation and verification of information involved in a potential investment or acquisition. Doing the homework collecting the necessary legal, financial, and operational documents, and confirming the seller representations and material facts pertaining to the business sale are all part of the due diligence process.
Developing the appropriate due diligence process for your potential purchase is as much art as it is science.
You may be surprised to see the use of the word art in discussing acquisition due diligence. But every business purchase is unique, posing particular transactional, financial, integration, and human capital (employee) challenges. The uniqueness of each deal is in where the art lies in taking a comprehensive due diligence process and effectively and efficiently customizing it to fit your special business purchase transaction.
The primary areas of due diligence in a business purchase include finances, legal issues, employees, business structure and operations. With our 30 years of experience we can help you craft and executed an effective due diligence process covering all these areas as well as any other special areas of concern.
CFO & Controller Services
Today business owners can outsource all or portions of their accounting and finance functions, allowing them to concentrate more fully on running and growing a successful business. Scholl & Company has designed a system for CFO and controller-ship services that is tailored for each client.
Our clients have come to realize they can trust us for our expertise, judgment, and commitment. We take the time to get to know our client's businesses, so when business and financial decisions get made, we are asked for our input because clients know that no one understands them better than Scholl & Company.
Do you need our outsourced CFO or Controller Services? Here are few of the more common situations that have led to the use of our services.
- Has your Controller/CFO left you and you need immediate assistance until a full-time replacement starts?
- Do you plan on acquiring, merging or selling a business?
- Are your company finances out of control?
- Is it taking too long for your accounting department to produce accurate financial statements?
- Are you frustrated that your billing process is causing collection delays?
- Do you need assistance preparing for your audit?
- Do you need new accounting systems and processes?
We can assist you with the financial operation of their company in a variety of ways, such as:
- Provide outsourced or interim contract Chief Financial Officer and Accounting functions
- Monthly Financial Results - Review, analyze and make recommendations
- Budgeting and cash management
- Funding Assistance - Assisting clients in attaining and maintaining debt and equity financing including negotiations and communications with lenders and investors
- Design Financial Statements and Management Reporting Systems
Our team of professionals draws on a wide range of accounting experience to improve the sophistication of your financial reporting. We make sure the appropriate procedures are in place to maintain the integrity of your financial statements, and monitor progress toward your company’s objectives.
Not sure how our interim or outsourced CFO and Controller Services will work for you? Want to find out in detail how it works and how much money you may save? Give us a call for a free, no-obligation consultation at (888)758-5966 or click here to send us an email.
Maintaining an accurate and meaningful accounting information system requires a combination of software, accounting, tax, business process, and information technology knowledge. Owning QuickBooks® accounting software provides only a single piece of the system. Let us setup and fine tune your accounting information system to provide the exact information needed to run your business successfully.
Forensic Accounting & Litigation Support
Through our investigative work we’ve examined frauds of many types and magnitudes. Our expertise also lies in preventing and investigating embezzlements and financial statement frauds, evaluating financial disclosures in matrimonial and probate concerns, as well as, other types of forensic accounting matters.
Bret Scholl, CPA directs the firm's forensic accounting services. He is a Fellow of the American College of Forensic Examiners International (ACFEI). The Fellow designation is the highest honor ACFEI can bestow upon a member. This designation is reserved for members with outstanding achievements and excellence as well as participating actively in ACFEI programs.
Federal Acquisition Regulations (FAR) Consulting
The Federal Acquisition Regulations (FAR) is the business manual for anyone operating in the federal marketplace. If you are a federal government contractor the sheer volume and intricacies of the federal procurement regulations require you to partner with knowledgeable and experienced professionals. At Scholl & Company, we have the expertise to help you with regulation interpretation and solution development in such areas as cost allowability, small business programs, contract financing, acquisition of commercial items, contract management and the contract clauses.
New Business Services
Are you thinking of owning your own business?
Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has since worn off that determines whether a new business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period for the long haul.
A systematic plan of action is needed to fulfill your dream or goal of being your own boss and running a profitable and successful business. Success lies in the approach you choose to take right from the beginning. We can help you avoid the common pitfalls that many new business owners make when starting their new venture.
Profit Improvement Planning
Scholl & Company's profit improvement consulting assignments vary from a focused review of a specific area of the business to a full-blown, comprehensive look at every aspect of the enterprise to identify profit improvement opportunities. These profit improvement opportunities typically fall into two broad categories: cost-focused and revenue focused.
Reviewed Financial Statements
A review of your business's financial statements by Scholl & Company, CPA, while not as in-depth as an audit, allows you to satisfy regulatory or other requirements and provides you with valuable business financial information.
The scope of a review of your business's financial statements is substantially reduced from that of an audit. It is also based on our understanding of your organization and the environment in which you operate. In a review, we perform analytical procedures, make inquires, and obtain management representations. We are then in a position to state that we are not aware of any material modifications that should be made to your financial statements in order for them to conform with generally accepted accounting principals (GAAP) and other comprehensive basis of accounting (OCBOA).
When you need objective advice, where do you turn?
Our clients often turn to us for advice on their company’s strategic direction and goals. It can be difficult for an entrepreneur or business owner to discuss their business and personal concerns on sensitive issues such as succession planning. Sometimes you just want an objective perspective on your business plan or strategic opportunity.