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 Services
TAX PLANNING & PREPARATION
Income Tax Planning and Preparation
Although many people do not begin thinking about income taxes until January 1, we believe providing a complete income tax service must include advance planning. Through planning, we can help minimize the effect of income taxes. Our tax planning services include opinions on the tax effect of proposed and closed transactions, advice on the tax and economic aspects of financing capital investments, development of deferred compensation plans, advice on estate tax and retirement options, and assistance in determining qualification requirements for current or proposed employee benefit plans.
Other Tax Services
In addition to income tax planning and preparation, we offer a full range of tax services. We will assist in the preparation of all standard income tax returns, as well as, gift and estate tax returns, privilege tax returns, personal property tax returns, shares tax returns, and returns for employee benefit and retirement plans. In addition, we will handle all IRS correspondence related to any of our tax services.
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AUDITING
We provide auditing services to a variety of industries including construction, manufacturing, distribution, healthcare, not-for-profit and information technology. Our clients range in size from small, start-up businesses to large, established companies. To meet the needs of our wide range of clients, we offer several levels of services from financial statement preparation to complete financial statement audits.
As every business is unique, we tailor our audit procedures to each client's operational and financial reporting needs. Our audit plans are both industry and client specific; therefore, our focus is on the individual client and the unique manner that your business is operated. We use the latest technology to ensure that financial information is integrated from trial balances to financial statements in the most efficient manner. We also maximize your investment in our auditing services by working closely with your accounting staff. This eliminates duplication of effort and creates a more efficient approach to auditing.
The firm uses a risk-based audit approach. Our primary focus is on each client's business strategies and the associated risks, which lead to possible effects on the financial statements. Gaining an understanding of the companies internal controls, industry trends, and the current market environment enables us to tailor our audit procedures in a way that allows us to address each identified audit risk area in the most effective and efficient manner.
If an audit is not required, we provide two additional levels of unaudited services - reviews and compilations. Our review service primarily consists of discussions with management and analytical reviews of financial information. Reviews provide limited assurance as to the accuracy of the financial statements. Compilations can also be used to assist you in preparing financial statements in accordance with professional standards. Compilations express no opinion or assurance on the accuracy of the financial statements.
In connection with the above services, Himmelwright & Huguley, LLC also provides a number of services to fit your specific needs including prospective financial statements, internal control reviews, agreed upon procedures for specific financial statement elements, due diligence and other compliance reporting.
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BUSINESS CONSULTING
Business Management Advisory Services
We are not only interested in our client's accounting, auditing and tax needs, we are also interested in assisting with their daily operations. Therefore, we offer a wide range of business and financial consulting services. These services include:
Assisting corporate financing
Budgeting and forecasting
Business health checkup
Business succession planning
Cash-flow analysis
Internal control issues or problems
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Internal control structure reviews
Merger and acquisitions
Monthly review of financial statements
Pricing strategies
Workman's compensation cost control
Valuations of businesses
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We also keep you up to date on new developments, changes or laws that could impact your business.
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COMPUTER CONSULTING SERVICES
As computers have become more integrated into the daily management of businesses, Himmelwright & Huguley, LLC has recognized that many clients need assistance in selecting, purchasing and maintaining their computer systems. We can analyze and recommend computer hardware that will meet your needs in a manner that is cost-effective, efficient and timely.
We will also work closely with clients to ensure they are using the best and most appropriate accounting software for their needs. We also are Professional Advisors for QuickBooks by Intuit and are experienced with numerous other accounting software packages.
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FAMILY & ESTATE PLANNING
Regardless of your degree of wealth, most individuals can benefit from a comprehensive estate and gift plan. We will assist in developing an estate plan that not only minimizes estate taxes, but also provides for asset protection and wealth transfers to future generations. We strive to be involved in the early stages of planning; however, we will also review your current estate planning documents, analyze the ownership of assets, review insurance programs, review retirement benefits and consult with each client to make any necessary changes to existing plans to assure your goals are achieved. In addition, we will consult with you concerning gifting programs associated with your estate planning and prepare the necessary tax returns. Our tax services in this regard include preparation of tax returns for children's trusts, estate income taxes and charitable trusts.
We will also assist in determining our client's needs for retirement and how they can meet their goals. We will discuss options for naming the beneficiary of their retirement proceeds and its possible tax effects. We will also assist in determining the required minimum distribution upon attaining the age of 70 ½ and the elections available at that time.
Many people also need assistance with their daily accounting tasks. For these clients, we can provide complete accounting services including paying bills, balancing accounts, monitoring investments, developing personal budgets, and conducting routine ongoing financial and accounting services.
Over the past several years, changes to the tax laws have created numerous savings vehicles for children's educational needs. These vehicles allow you to assist with the educational expenses of your child, grandchild or any special child in your life. Himmelwright & Huguley, LLC can advise clients on the most appropriate plan for that child's education given their specific and unique circumstances.
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BOOKKEEPING & PAYROLL
Bookkeeping Services
Complete and accurate financial record keeping is crucial to your business's success; however, this can be time-consuming and can take away from the time you need to run your business. To allow our clients to spend time growing their businesses, we offer complete monthly bookkeeping services including preparation of bank reconciliations, preparation of reconciliations of all asset and liability accounts, sales tax computation, client billings, collections of account receivables, and preparation of monthly financial statements.
Payroll Services
We also offer complete payroll services. These services include preparation of payroll checks, preparation of annual W-2 forms, and preparation of quarterly payroll tax returns. In addition, we provide these services via the Internet. Using the Internet enables the firm to eliminate geographical obstacles and hardware/software compatibility issues.
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