At Welch & Co., the preparation of forms and filing of documents is just the beginning. The facts and numbers that go into various reports enable us to gain valuable insights about financial matters which can lead to new choices and better decisions.
Our between-the-lines, integrated approach makes Welch & Co. unique. Clients retaining the firm for traditional accounting procedures--an audit or a payroll or tax return, for examaple--get more than routine calculations. They also get business acumen from professionals who can help them make smart decisions and avoid costly mistakes.
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel can not 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
*Accounting system setup for new businesses
*Computerized payroll services
*Business tax return preparation (Sales & Use/Business Property)
*Personal financial statements
Audits, Reviews and Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance for both businesses and not for profit organizations:
*Audit- an intensive examination with the highest level of assurance
*Review - some analytical procedures conducted with limited assurance
*Compilation - based upon client information provided and used primarily for internal use.
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.
Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff 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.
We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to:
*Tax planning & return preparation
- Estates, trusts & gift
- Not-for-profit organizations
*Taxing authority representation
*Divorce and support issues
*Tax effects of buying/selling a business
Tax Planning & Preparation
Tax planning and preparation form a winning combination for our successful individual and business clients. Whether you are an individual or a multi-tiered partnership, our experienced staff can develop tax strategies that take advantage of new tax laws and legislation.
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. The following is just a few of the areas in which we provide consulting services:
*Accounting software selection and implementation
*Type of entity selection
*Buying/selling a business
*Financial & retirement decisions
*Estate, trust & gift planning
A CPA can provide a vital role in your estate planning to insure that your personal and business assets are transferred to your surviving spouse, children or other heirs, and that the transfer is done in a manner in which taxes due are minimized.
If you are a business owner, your CPA can help you ensure there is the succession of ownership so that your business continues to thrive.
The role of a CPA in your estate planning can involve the following:
- Identifying your goals: identify your goals typically concern preservation of your wealth and disposition of your assets while minimizing tax liability.
- Reviewing your current financial position: analyzes your current financial situation, identify anticipated assets, determining how much of your estate should remain liquid, review the titles to your assets and consult on important documents such as your existing wills, trusts, retirement plans, real estate, savings and insurance policies.
- Planning for Transfer of Assets: discuss how the transfer of property will occur -- either by will, by contract or by intestacy. Your CPA can review your current will and work with your attorney to determine if your will accurately reflects your wishes.
- Coordinating your Planning Team: coordinates with the other members of your estate planning team including your attorney, insurance agent, investment broker, appraiser, etc. to ensure the proper strategies are implemented.
- Implementing Your Plan: advises and recommends the estate planning activities including selecting an attorney, retitling or transferring of assets, gifting programs, charitable giving and insurance purchase.
- Advising: provides guidance in selecting your estate executor, guardians and fiduciaries and also discuss the importance of having advance directives in place including powers of attorney, living wills and health care directives.