Our firm offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison. 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. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Tax planning is an essential element of the tax preparation process. We develop tax strategies to take advantage of new tax laws and legislation to minimize your current and future tax liabilities.Tax Preparation
We provide careful tax return preparation with attention to detail and a concern for your best interests. Our tax services include, but are not limited to:
· Corporations C Corporations S Corporations
· Estates, Trusts & Gift
· Exempt (Non-Profits)
Our experience with the taxation of U.S. residents working abroad and foreign citizens working in the U.S. has provided us with an extensive base of knowledge in the area of taxation for non-resident aliens, resident aliens and U.S. citizens living abroad.IRS Audit Representation
Eliminate the worry and guesswork of an audit. Clif is known as the "Fearless CPA" because he is ready and eager to meet with the IRS on your behalf. We have years of experience dealing with various taxing authorities, and have achieved a level of competence that can insure our clients they are properly represented. We are proud of the record of favorable audit results we have achieved for our clients.Income Forecasts and Projections
We can project your anticipated income and plan for your tax liability to determine the proper withholding or estimated payments necessary to avoid a tax liability or underpayment penalties at tax filing time.
Financial Statement Compilation
We can compile your firm's financial statements in accordance with professional standards. Our service includes recommending any changes to the general ledger that may be necessary to improve recordkeeping accuracy and transparency. Compilations are based upon information provided by the client. These financial statements are for internal use only, as no assurance is provided.Financial Statement Audits and Reviews
An audit includes an intensive examination of the company's systems and records to determine the accuracy of the financial statement representation. An audit provides the highest level of assurance as to the validity of the financial statements.
A review consists of a less detailed examination of the recording and transactions behind the company's financial statements. Analytical procedures are used to provide a limited assurance as to financial statement accuracy.
Court accounting requirements are strict and extremely specialized. We have extensive experience, through working with a network of conservators, in providing probate court accounting packages for conservatorships, estates and trusts.Estate Planning
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.Estate/Trust Tax Preparation
Generally, estates and trusts are taxed as separate entities. We prepare a Form 1041, Fiduciary Income Tax Return, in which the entire income of an estate or trust must be reported. A deduction is allowed, however, for income paid to beneficiaries. This income is taxable to the beneficiary in the year of allocation. We prepare and issue K-1 Schedules to Beneficiaries; this information is included in the individual's tax return.
Successful implementation and periodic review of your financial plan will ensure financial independence through your retirement years. We stay abreast of the developments in laws and tax provisions governing retirement plan funding, and can assist you in taking advantage of opportunities to maximize tax savings, both as you save for retirement and once you retire.Financial Planning
In addition to being a CPA, Clifton also is a Certified Financial Planner with years of work experience in the field of finance. We can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security. While we do not recommend specific investments, we can provide detailed information about all investment options available.
When planning to form a California corporation, or to qualify a foreign or out-of-state corporation to do business in California, it is necessary to register with the state. We prepare and file the Articles of Incorporation, determine the availability of the proposed name, and prepare all the documents necessary to form a corporation. We also assist in filing proper documents for Corporate dissolution.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. 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.Payroll Services
We can assist you in implementing the controls necessary to ensure a reliable, efficient payroll system. We help you to develop the most appropriate payroll system, and can prepare all necessary payroll tax returns in a timely manner.Sales Tax Services
Often our clients are responsible for collecting and submitting sales tax in many different vicinities. We can help you compile the information and prepare sales tax returns in a timely manner.Bookkeeping
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. It also provides a clear "paper trail" for future staff to follow, and makes financial statements accurate and easy to compile. We can assist you with the day-to-day tasks associated with bookkeeping.Financial Forecasts & Projections
Forecasting is necessary in order to manage and lead a business to profitability. From simple projections to complex financial modeling, we can assist you in achieving your company's financial goals.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.
Litigation support uses accounting and auditing techniques to quantify economic damages in relation to existing or pending litigation. We can compile information to assist in the calculation and documentation of economic loss or damages.Expert Witness Services
Litigation can require the opinion of a qualified professional, to support or oppose evidence submitted to the court. Our level of expertise in the area of accounting qualifies us to function as expert witnesses in such cases.