Small Businesses
Managing a small business requires wearing many different hats. Engelman Accountancy is dedicated to helping small businesses manage their challenging financial tasks, allowing the business owner to focus on managing the business. We also help you and your employees learn more about your financial matters so that you can become increasingly independent and informed. Our small businesses services include:
Developing Business Tax Strategies
- Determining the best structure for the business: C-Corporation, S-Corporation, LLC, partnership, or individual interests
- Preparing income tax returns
- Analyzing income tax positions and advising on strategies to reduce taxes
- Taxation planning including transactional planning, structural analysis, capital investments/financing, and investment analyses
- Keeping the small business owner updated on tax changes
Organizing Accounting Function
- Identifying a client’s reporting needs and implementing the process
- Developing accounting systems including implementing internal control systems such as authority levels and the appropriate flow of documents
- Performing general accounting services including maintaining account books
- Compilation and review of monthly, quarterly, and annual financial statements
Consulting on Operating Efficiencies
- Financially structuring contracts to minimize taxes and tax audit
issues - Analyzing budgets and cash flow
- Forecasting and financial analysis
- Increasing profitability through financial analysis and comparison to the industry competition
- Accounting for businesses in trustee and receivership situations
- Strategic Planning
- Business and management consulting
- Providing assistance for the internal accounting function
Business Valuation for Increase in Family Wealth
- Structuring for sale
- Planning and developing a valuation
- Accounting for mergers, acquisitions, or dissolutions
- Accounting for buying or selling interests in the business or gifting all or parts of the business
- Valuing all or parts of the business for estate purposes.
Business Litigation Assistance/Forensic Accounting
- Shareholder/Partnership Disputes
- Insurance Defense Matters
- Estate accounting
- Transactional issues
Broad Referral Base
Even when your life events are beyond our expertise, we can draw on a broad range of professional experts whose experience and approach we value. Whether it is a specialized attorney, a financial planner, or an investment advisor, we know and have worked with the best and would be glad to help you make the right selection.