Services

Accounting Services

Accurate and timely financial records ensure that your business operations will run more efficiently on a daily basis and allow you as the owner to make informed business decision. Our qualified staff of CPAs and accountants can assist you with the day-to-day tasks associated with bookkeeping, giving you more time to devote to your business.

Our CPAs and accounting professionals are experienced in the use of most accounting software, including QuickBooks, QuickBooks for Mac, QuickBooks on-line, Peachtree Accounting, Great Plains, and Creative Solutions Accounting. We can provide services on a monthly, quarterly, semi-annual, or yearly basis, depending on your needs and budget.

Services we provide include:

HOA Accounting Services

Condo Accounting Services

Attestation Services

Financial Statement Preparation

Tax Services for HOA’s

Family Office and Accounting Services

Individual, business, family office and condo association bookkeeping and bill paying

The booking of income and expenses as well as invoice entry and vendors payments

Bank account and credit card payment reconciliations

Payroll preparation and direct deposit

The preparation of sales and bed tax returns as well as payroll tax returns, including the quarterly 941 and RT-6 returns, as well as annual 940, W2 and 1099 filings

The preparation of Income statement, balance sheet and other financial statements

End of year adjustments to your general ledger and including booking your depreciation and amortization expense

Many times we see our accounting services expand as a client’s business grows and expends.  Many small businesses need professional financial advice, but can't afford a full-time CFO or controller.

Once your company reaches this point one of our Part-Time CFO professional financial managers can work with you to help guide your business to success.

The cost of hiring a full-time CFO can range from $60,000 to over $100,000 per year plus bonuses and benefits. Our Part-Time CFO services provides you with experienced support at a small fraction of that cost.

Our Part-Time CFO services include:

• Better understanding of your business' finances and cash flow.

• Experienced professional guidance for your business decision-making and planning.

• Training and support for your accounting staff.

• Improvement of company accounting procedures.

• Budget preparation and monitoring.

• Profitability analysis by service or product line.

• Tax saving strategies.

• Improved cash management.

• Liaison and negotiation with bankers, attorneys, and other associates.

• Mergers and acquisitions assistance.

 Homeowner & Condo Associations and support for Property Managers

We provide accounting services for Homeowners and Condominium Associations as well as back office accounting support to property management companies. While there are many important steps in financially managing an Association, our firm is able to balance them efficiently to ensure cohesive administration of policy, account reconciliation, and data analysis. Our services support low, mid-rise and high-rise condominiums; homeowner, sub and master associations and timeshares.

Attestation Services and  Financial Statements Preparation Required By Florida Law

Our firm can assist in conducting the annual audit, review or compilation and preparing the Associations’ financial statements required by Florida Statutes.  Your Association is required to prepare financials statements that are reported on by a CPA firm with various levels of assurances, depending on your Association's annual revenues. Whether you are required to have your financial statements audited, reviewed and compiled, we can help to make the process simple and efficient.

Tax Services for HOAs

Our firm is very experienced in the tax return preparation for your specific entity type, as well as federal and state tax regulations, we provide preparation of Form 1120-H or Form 1120, depending on certain criteria. We are experts in ways to avoid overpayment of taxation, while following all the applicable regulations and laws.

What our HOA services can do for You

Similar to what we offer for small businesses of any type, our services can be provided on a basis that best suits your needs; annually, quarterly, or monthly.   Awe bring our experience and expertise in the factors that contribute to a well-run Association, our firm is equipped to handle all of the following:

• Invoicing assessments

• Tracking accounts receivable

• Banking/lock box system setup up and integration with your accounting program

• Maintaining collection policies

• Coordinating with attorneys regarding delinquent owners

• Preparing weekly and bi-monthly payables

• Monthly reconciliation of all accounts

• Monthly financial reports formatted for individual communities

• Budget analysis, preparation, and management, including reserves

• Complete payroll processing

Our services are structured to be as comprehensive as possible, thus ensuring all of the time-consuming operational components of your Association are efficiently handled.  If your Board needs help managing your reserves, we can advise you on the important decision regarding the newer method of pooling or the traditional straight-line funding approach.  Lastly, our services include auto-pay (ACH) set-up for community owners payments and estoppel letters for property sales, as needed.

Audits

Audits

Stockholders, creditors, Condo Association Boards of Directors and private investors often need assurance that the financial statements accurately represent the true financial position of a company.

Our audit and attestation team can provide three levels of assurance to meet your needs.

Audit – Greatest Degree of Assurance

An audit provides the greatest degree of assurance. An audit is an analytical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.

Our work includes testing of selected transactions and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.

An Audit allows you to...

• Satisfy stakeholders such as employees, customers, suppliers and lenders, as well as the investing community, as to the credibility of published information.

• Comply with banking covenants.

• Comply with State Condo Association Reporting requirements.

• You will receive the greatest degree of assurance because we go outside your company to obtain more information.

Typically, we'll have written communication with:

• Your customers, to check outstanding receivable balances,

• Your banks, to confirm cash or debt balances and terms,

• Your vendors, to verify outstanding payable balances, and

• Your attorneys, for information on pending or threatened legal action.

We also perform physical inspections by observing your inventory counting methods and perform test counts. We document and test each operating cycle, including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client's supporting work papers.

All public companies are required to have an annual audit, but some nonpublic entities must undergo an annual audit as well. These include local governments, Condominium Associations, not-for-profit agencies and other organizations receiving government grants.

Moreover, some financial institutions require audits of nonpublic companies based on the financing amount and/or the bank's assessment of the company's risk. Also, companies with absentee ownership (such as those owned by investment firms, or individuals who no longer run the business) may order audits as checks of their management teams.

Review - Limited Degree of Assurance

Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of methodical procedures we apply to the financial statements, and various inquiries we make of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.

A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.

Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA's technical expertise without the expense of an audit.

Compilation - Lowest Degree of Assurance

In compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.

Banks often require compilations from an independent CPA as part of their lending covenants.

Each type of financial statement report may suit specific circumstances, depending on requirements from your bank or other parties, and your budget.

Understanding each report's unique strengths and weaknesses can help you choose the most appropriate one. Please call or email for an appointment with one of the CPAs in our audit and attestation team.

Income Tax

Income Tax Services

Income tax planning and preparation is a cornerstone service for our successful individual, business, Condo Association, Non-Profit and Estate tax clients. Fundamentally, tax clients come to us for two reasons:

• They want to pay as little in income taxes as they legally have to

• They do not want to get in trouble with the IRS or state tax authority

Whether you are an individual, partnership, shareholder, Board Member or Trustee, our staff can develop tax strategies that take advantage of income tax laws and regulations.  For over 20 years our firm has been experts at accomplishing the two goals tax clients have.

 Our CPAs and tax specialists are experienced and knowledgeable about the tax advantages and benefits available for your particular individual, business Condo Association or estate tax return. We use the most sophisticated, state-of-the-art tax software, to keep up with any changes the IRS makes.

We will prepare all of your Federal, State and local income tax returns as well as any user or informational returns that may be required