Certified Public Accountants
Stevenson, McCulloch CPA’s, Inc., P.S. provides a wide range of services to individuals and businesses in a variety of industries. At Stevenson, McCulloch CPA’s, Inc., P.S., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:
At Stevenson, McCulloch CPA’s, Inc., P.S., we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.
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From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Stevenson, McCulloch CPA’s, Inc., P.S.'s accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
These services include but are not limited to:
- General ledger
and financial statement preparation
- Bookkeeping (Monthly, quarterly, or annual)
- Accounting
system setup and support
- Payroll processing
- Cash flow budgeting and forecasting
- Personal
financial statements
- Corporate tax planning and return preparation
- Corporate tax planning and
return preparation
- Litigation support
We can set up financial reports for your view to streamline your business and save your valuable time. These reports are important tools that can guide your business in making financial decisions, planning, and evaluating performance.
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Assurance and Advisory Services
At Stevenson, McCulloch CPA’s, Inc., P.S., we focus on building close client relationships that add long-term value. This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality or its context, meaning more success for your business.
These services include but are
not limited to:
- Audit support, Reviews, and compilations
- Entity selection and restructuring
- Accounting software selection, implementation, and support
- Financial projections and forecasts
- Debt and finances advising
- Business purchases and sales
- Mergers and acquisitions
- Transaction structuring and negotiations
- Business succession
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Audit Support, Reviews and Compilation
Stevenson, McCulloch CPA’s, Inc., P.S.'s financial statement services comprise all levels of assurance necessary for most business enterprises, depending on your company's needs.
- Audit Support functions include assistance to companies in preparation for audits by other independent certified public accounting firms.
- Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures. Reviewed financial statements contain an accountant's report which expresses limited assurance that material changes to the financial statements are not needed for the statements to conform to generally accepted accounting principles (GAAP). In reliability, a review falls between the no assurance compilation and the more extensive assurance of an audit.
To perform a review, the CPA should have an understanding of the key aspects of the business-organization, operating methods, products and services. He or she then makes inquiries related to the financial statements. For example: record keeping practices, accounting policies, actions of the board of directors, changes in business activities, and subsequent events. The CPA then applies "analytical procedures" designed to identify unusual items or trends in the financial statements that may need explanation. Essentially, a review is designed to determine whether the financial statements "make sense" without applying audit-type tests to management's representations.
- Compilations are often requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records. When a CPA undertakes a compilation engagement, he or she performs a task comparable to what a staff accountant would do if the company had one. The CPA offers no assurance as to whether any changes would be necessary for statements to conform to generally accepted accounting principles (GAAP), because the CPA simply puts the data into financial statement form. The CPA performing a compilation is not required to probe beneath the surface unless they become aware that the data is in error or incomplete.
In performing a compilation, the CPA first familiarizes himself or herself with the accounting practices common to that industry, acquires a general understanding of the client's transactions and how they are recorded. Once he or she compiles the financial statements, they are then obliged to give them a professional "second look" without performing any audit procedures. That being done, the CPA issues a standard report that in effect says: "Financial statements were compiled, but because they were not audited or reviewed, no opinion is expressed."
- OCBOA The accounting profession has also made provisions to allow issuance of financial statements on an "other comprehensive basis of accounting" (OCBOA). This generally allows a company to report on a basis that may not conform to generally accepted accounting procedures (GAAP). For example, OCBOA statements might include reporting on the basis of figures used in reporting for income tax purposes (tax basis).
Over all, there is a relatively wide range of modifications that can be made to compiled and reviewed financial statements so long as non-conformity with GAAP is disclosed. The general concept is to provide financial statements that meet the needs of the company while identifying material items that allow a reader to understand any reporting that departs from GAAP. In no case should the financial statements attempt to mislead a reader.
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Estate and Trust Planning and Tax Preparation
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Stevenson, McCulloch CPA’s, Inc., P.S.'s role is to assist you and other estate tax planning professionals to help facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well thought out plan as to how to disburse one's estate so as to avoid complications and to be sure wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss. Remember, if you don’t say how your assets are to be distributed on your passing, the government will.
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Financial and Retirement Planning
Stevenson, McCulloch CPA’s, Inc., P.S.'s goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Stevenson, McCulloch CPA’s, Inc., P.S. can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals.
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Litigation Support and Forensic Accounting
Stevenson, McCulloch CPA’s, Inc., P.S. litigation support and forensic accounting services can be employed in a wide range of situations, including commercial litigation, financial investigations, business valuations, business and marital dissolutions, and bankruptcies. These services can involve quantification of economic loss or damages, analysis of financial records, and fraud and theft investigation. Financial and personal records are often vast and confusing to sort through. With our professional training in this matter, we can make sense of these records and transactions and get to your bottom line.
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Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit or have received penalty notices or other IRS correspondence, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.
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Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Stevenson, McCulloch CPA’s, Inc., P.S. can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.
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Entity Selection and Restructuring
Your business entity has a large impact on your taxes and other liabilities. From your company's inception and through its growth and development, Stevenson, McCulloch CPA’s, Inc., P.S. can advise you on choosing an entity type and later restructuring, if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.
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Accounting Programs Help and Assistance
There are any number of accounting software programs available to the business community which can be purchased. With the cost of hardware, software and time in installation, it is important to make the correct choice in the accounting software you choose to install.
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Stevenson, McCulloch CPA’s, Inc., P.S.'s payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax returns.
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Employee Benefits, Pension, and Profit-Sharing Plans – Tax Issues
Choosing and administering benefit plans for your employees is often a complex process. Stevenson, McCulloch CPA’s, Inc., P.S. can help you develop, implement, and administer your benefit, retirement, and profit-sharing plans with an eye toward rewarding your employees and reaching your company's financial and business goals. We can also help maximize tax advantages in implementing these plans. As your business grows, your business and your employees will be rewarded for the hard work that contributed to the success of your business.
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Cash Flow and Budgeting Analysis
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Stevenson, McCulloch CPA’s, Inc., P.S. can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, rebalance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
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Financial Projections and Forecasts
No one can predict the future perfectly, but we can all benefit from planning for it. Stevenson, McCulloch CPA’s, Inc., P.S. combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.
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The range of needs for valuing businesses continues to widen, and Stevenson, McCulloch CPA’s, Inc., P.S. can provide in-depth analysis to help you identify and analyze the factors that drive the value of your company or one in which you have an interest. Uses for this service include estate planning and compliance, buying and selling businesses, divorce matters, family limited partnerships and ESOPs. There are so many factors that contribute to the perceived value of a business. Our expert help can help you evaluate entities that you have an interest in and guide you towards making business decisions that you feel confident with.
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Mergers, Acquisitions, and Sales
Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Stevenson, McCulloch CPA’s, Inc., P.S. can provide professional know-how to help you successfully structure and negotiate the deal. Stevenson, McCulloch CPA’s, Inc., P.S. employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.
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Whether your needs are corporate or personal, Stevenson, McCulloch CPA’s, Inc., P.S.'s professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.
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Resident Alien and Non-Resident Tax Returns
Whether you're a U.S. citizen needing help with the taxation of U.S. residents working abroad or a foreign citizen who has U.S. tax issues, Stevenson, McCulloch CPA’s, Inc., P.S. can help you plot a course through cross-border taxation transactions. There are many special rules and policies for those with a foreign presence. We can help you make sense of how you are affected by them.
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