Corporate and Business Accounting
Like individuals, businesses have a unique lifecycle. At Draffin & Tucker, our team of professionals is here to assist you every step of the way. Whether you are a start-up business determining which type of entity best serves your needs, a growing business determining the best method to obtain capital for expansion or a well-established business preparing for a transition to the next generation of management, we are here to assist you with seasoned advice from years of practice. Our dedicated tax and commercial services team specializes in serving closely-held and family businesses. We realize that, oftentimes, the family business is another family member, and our goal is to assist you in growing, maintaining and transitioning your business through the business lifecycle.
Our Corporate and Business Accounting Services Include:
Audits, Reviews and Compilations of Financial Statements
Whether you are subject to audit or review of your financial statements due to financial lending covenants, the terms of a government contract or as part of a bonding agreement, we are prepared to provide you with quality service at a competitive fee. For those companies not required to furnish audited or reviewed financial statements but wish to have a professionally prepared set of financial statements, we also provide compiled financial statements.
Tax Planning and Preparation
Taxes can be one of the largest expenses for a business. However, with the proper planning and strategic implementation, they can become one of the smallest expenses. With our highly-trained and knowledgeable team, we can assist in quarterly and year-end planning to determine how to strategically reduce tax liability of a business, while ensuring the soundness of the implemented plan. Once planning is complete and the books have been closed, our team prepares the appropriate filings and ensure compliance with the taxing authorities and to ensure that the results of the planning strategies are fully realized.
Monthly Bookkeeping Services
For many small businesses and start-up companies, having a full accounting department is a luxury that they simply cannot afford. Draffin & Tucker has a dedicated team of bookkeepers with years of experience in working with companies of various sizes to ensure that your company books are clean and organized. We serve as the accounting department for your business. Working closely with our clients, this bookkeeping team assists in making adjustments and corrections to the books to accurately reflect the operations of the company. At the end of each month, the team communicates with the appropriate personnel to ensure that any adjustments are understood and makes suggestions to increase the efficiency of the process and the proficiency of such personnel.
Business Succession Planning
When the time comes in the lifecycle of the business to consider succession planning, there are often a myriad of factors that must be considered. Whether it is the equalization between children, the determination of key employees to take the reins or the review of a buy-sell agreement, Draffin & Tucker’s commercial services team is prepared to help. These discussions are often very sensitive and private; therefore, Draffin & Tucker seeks to provide independent advice while maintaining the highest level of confidentiality. We collaboratively work with other professionals, including attorneys and insurance providers, to ensure your wishes are fulfilled in the chosen plan.
Mergers, Acquisitions, Restructurings and Recapitalizations
The business world is highly complex and the forms by which these combinations and restructurings occur can be just as confusing. At Draffin & Tucker, our seasoned team works to help you understand the pros and cons of available options. Whether you are buying, selling, restructuring or recapitalizing, we will work with the rest of your advisory team to construct and negotiate the most favorable package for you and your business.
Business Advisory Services
Whether it is determining the tax consequences of a particular business structure, determining the benefits of a cost segregation study, setting up the required filings for a new business or determining the applicability of the latest tax credit to your business, our commercial services team is ready and able to assist you in making these and other determinations. Our team will conduct the research and prepare the analysis necessary to assist you in making the best decisions for your business, allowing you to focus your attention and efforts on growing your business.
Pension Plan Audits
Many businesses offer retirement plans for their employees. Depending on the size and type of plan, your company may be required to file an informational return along with audited financial statements to the U.S. Department of Labor. At Draffin & Tucker, our experienced team will assist you in making sure that all of your reporting requirements are met.
Payroll and Sales Tax Reporting
Payroll and sales tax filings are some of the most time consuming reports required to be filed by a business. Furthermore, for a person inexperienced with such filings, the requirements can be overwhelming and confusing, with the cost of erroneous filings being significant. At Draffin & Tucker, we take on this reporting burden so that you can have the confidence that the reports for your business are complete and accurate, allowing you to focus on growing your business.