CLIENT SERVICES
Our firm offers a wide range of services to our individual and business clients. Being a relatively small firm, we are able to offer our clients personalized quality service. Below, we have listed the services that we offer to our clients along with a brief description.
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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.
ACCOUNTING SERVICES
Accounting Services
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
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General ledger & financial statement preparation
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Bookkeeping
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Monthly oversight of bookkeeping services
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Accounting system setup for new businesses
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Budgeting
Audit Services
The highest level of assurance that can be offered on a client’s financial statements.
An audit is the highest level of assurance Owen Petersen can offer on a set of financial statements. We utilize confirmations, inquiries, analytical procedures, observation and other methods to form an opinion on the client’s financial statements.
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Review Services
A limited amount of assurance that can be offered on a client’s financial statements.
A review can be a cost-effective way to meet the requirements of third parties (such as lenders). We do this through inquiry of client management and analytical procedures applied to their financial information.
Compilations
Utilizing our accounting and financial reporting expertise we can assist you in presenting information in the form of financial statements, without providing any assurance on those financial statements.
TAX SERVICES
Tax Preparation
We pride ourselves on providing tax preparation services that are more than data entry but also looks at each individual situation to determine the best approach. We hold ourselves to the highest professional standards with continuing education for the current and new tax laws that are enacted and have access to high-quality research software to assist in analyzing the tax law.
We prepare returns for various types of entities including:
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individuals
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corporations
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partnerships
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trusts and estates
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not-for-profit organizations
Tax Planning
Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.
Tax Representation
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
Sales Tax Services
Many of our clients are responsible for collecting and submitting sales taxes in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.
CONSULTING SERVICES
Business Formation
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, positive or negative. 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. We will be with you through each step of the process to get your business up and running.
If you desire to form a non-profit organization, we can assist with applying for your tax-exempt status, and state registration.
Business Mergers & Acquisitions
We can assist you with the due diligence that is required when undertaking a merger or acquisition. We can work with you and your attorney throughout the process to ensure that you are in good hands every step of the way.
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 alongside your attorney, or recommend one if necessary.