Our firm offers a wide range of services to our individual and business clients. We collaborate with client management, bringing valuable insight to all areas of the business such as accounting, taxation, financing, retirement planning, succession planning and estate planning. Below, we have listed the services that we offer to our clients along with a brief description.
Accounting and Assurance 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:
- General ledger & financial statement preparation
- Bookkeeping (Monthly/Quarterly/Annual)
- Accounting system setup for new businesses
- Computerized payroll services
- Business tax return preparation (Sales & Use/Business Property)
- Personal financial statements
- Litigation support
Audit of Financial Statements
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. Our audit team is experienced and will provide a quality audit with minimal interruption of your day to day operations.
Our firm goes through a rigorous peer review for our audit practice as required by the AICPA. A link to our most recent certificate is here. FKC has attained the highest level of peer review for privately-held companies for an accounting and audit practice in the United States of America based on quality control and compliance standards established by the American Institute of Certified Public Accountants.
Employee Benefit Plan Audits
We are members of the Employee Benefit Audit Quality Center of the AICPA. Membership provides access to comprehensive resources that assist us in further enhancing the quality of our employee benefit plan audits. As a member our firm must participate in annual updates which provide timely information on a variety of technical, legislative and regulatory subjects that we in turn can apply to your employee benefit plan audit to help ensure compliance with the appropriate standards and changes in regulations.
We also have established quality control programs, perform annual internal inspection procedures, and make our peer review report findings publicly available.
At FKC we focus on plans with 100-1,000 employees. We specialize in the following full scope or limited-scope audits:
- 401(k) plans
- Defined benefit pension plans
- Health and welfare plans
- Money purchase pension plans
- Employee stock ownership plans (ESOP)
Review, Compilation and Agreed Upon Services
For businesses who have a financial reporting need outside the scope of an audit. FKC can provide the following assurance services:
- Review – provides limited assurance that financial statements are not materially misstated
- Compilation – provides formal financial statements without expressing an opinion.
- Agreed Upon Services – provides an opinion based on procedures agreed upon between management and our firm.
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.
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.
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, 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.
Business Succession Planning
Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company's day to day operations. With a solid background in tax and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.
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.
A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company's management team develop long-term objectives and specific strategies to facilitate your business' future growth and success.
Estate & Trust Tax Preparation
Effective estate and gift 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.
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.
As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
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.
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.
Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.