Audits, Reviews & Compilation
In the financial reporting process, our role is to provide practical solutions to maximize your company's profitability and efficiency. We provide financial reporting solutions on all three levels of assurance:
- Audit - an all-encompassing analysis to provide the highest level of assurance.
- Review - Utilization of systematic strategies in testing reliability of financial data and limited assurance
- Compilation - an in depth professional assessment of information provided by the client used mainly for internal management decision-making.
Employee Benefit Plan Audits
Audits of employee benefit plans have become increasingly complex due to new rules, regulations and reporting requirements. The complexity of employee benefit plan audits requires professionals with specialized audit and accounting experience.
Employee benefit plan audits are required by the Employee Retirement Income Security Act of 1974 (ERISA) and the U.S. Department of Labor (DOL) for employers with more than 100 eligible plan participants at the beginning of any plan year and some smaller plans. The plan's sponsor is responsible for complying with these requirements. An incomplete, inadequate or untimely audit report may result in significant penalties being assessed against the plan's sponsor. Therefore, one of the most important duties of the plan sponsor is selecting an independent auditor for the plan.At Hall & Company, we have over 225 combined years of business experience. Our team of auditors is specially trained and educated in the most current ERISA, DOL and generally accepted auditing standards (GAAS) requirements. We understand the specific areas of testing that the DOL requires. We can ensure that you carry out your legal responsibility to file complete and accurate annual returns and reports for your plan each year.
ERISA Audit services offered:
- Limited Scope Plan Audits
- Full Scope Plan Audits
- Defined Benefit Audits
- Defined Contribution Audits
- 401(K) Audits
- ESOP Audits
- Health & Welfare Plan Audits
Financial Forecasts & Estimates
- Our teams of professionals are highly skilled in the field of estimating and financial forecasting and are capable of everything from basic estimates to providing intricate financial modeling to help you achieve your financial goals.
Tax Strategies for Efficient Planning
- The tax environment is ever-changing. Our experts stay abreast of strategies to minimize tax liabilities and keep clients informed of compliance issues and opportunities. Whether you are a small business, high net-worth individual, or large multi-state entity, we will provide you with leading edge tax expertise and strategies to maximize your bottom line.
- U.S. residents and entities conducting business abroad, and foreign citizens and entities conducting business in the U.S. create unique tax situations that require extensive knowledge in the International Tax arena. Our International Tax team is poised to advise and assist you with strategy and compliance in tackling global taxation.
- We gauge our worth by the personal and business success 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.
Cash Flow & Budget Analysis
- The timely flow of resources within your organization and personal financial activities will decidedly impact your success. Our team can evaluate the effectiveness of your current flow and strategize with you to develop a healthy financial forecast and identify comprehensive, yet flexible, steps you can easily implement to improve your financial well-being.
- Effective estate and trust planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce the tax burden associated with the transfer of your business to successors. We can guide you through the complex process of getting your financial affairs in order. We have teamed up with the very best Orange County attorneys to provide exceptional, comprehensive planning to our clients. Please contact us - we will be happy set up a complimentary consultation.
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.
Cost Segregation Services
- Our goal in preparing a Cost Segregation Study is to identify building costs that have been traditionally depreciated over the standard 27.5 or 39 year life and then to re-allocate to their actual shorter lives of 5,7 or 15 years. A study typically allows for much greater depreciation expense in the earlier years of ownership resulting in larger tax benefits to both businesses and individuals who own the real estate.
- Our engineers have years of extensive education and experience in this very specialized area. We are able to offer studies of all types of real estate (commercial, residential, industrial and manufacturing) whether new or owned for several years. We can file the necessary tax forms to allow for catchup depreciation in the current tax year. Feel free to call us for a no-cost estimate of the tax savings to you or your business.
Mergers & Acquisitions
- Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations, product/service compatibility, competitive tactics and position, financial impact and cash flow considerations.
Entity Selection for Your Business
- Choosing the entity form for your business (e.g. "S" corporation, sole proprietor, limited liability company, partnership, etc.) 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 you. Understand that what may be a perfect fit for your neighbor's business may not be best for your business. A little effort spent early on in selecting the right entity could save you a significant amount of time, effort and taxes in the long run.
- Whether you are thinking of buying a new business or are contemplating selling your existing operations or a division, the calculated value of the entity is paramount. We provide objective analysis to assist you in the valuation of any business in which you have an interest. We provide a full range of business valuation services including due diligence, reporting issues related to mergers, acquisitions, divestitures, financings, wealth transfer and tax reporting. We are recognized for our superior services, timeliness, top quality work, and most of all, our integrity in the process. We hope that you would not consider buying or selling a business without an independent appraisal being prepared.
- COMPANY VALUATIONS • M&A • C to S Conversions • ESOP Valuations • Estate Planning and Reporting • Partial/Fractional Interest Valuations • Restricted Stock Studies • Warrants and Stock Options • Insurance Placements • Buy-Sell Agreements.
- ACCOUNTING AND TAX COMPLIANCE (INCLUDING 141, 142, 409A AND 123(R)) • Enterprise Value Calculations • Goodwill Impairment Measurement • Purchase Price Allocations • Stock Options.
- TRANSACTIONS • Fairness and Solvency Opinions • Formation and Sale of ESOPs • Transaction Advisory and Recapitalization.
- INTANGIBLE ASSET VALUATIONS • Intellectual Property including: Patents, Software, and Technology • Trademark and Tradename Valuations.
- RESTRUCTURING AND REORGANIZATION • Corporate Recapitalizations • Debt Forgiveness and Insolvency Opinions • Debt Instrument Valuations.
- LITIGATION AND EMINENT DOMAIN • Lost Profit Analysis • Eminent Domain Proceedings • Corporate and Partnership Dissolutions
- 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.
Buying & Selling a Business
- Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent team of professionals has experience to lead you through the acquisition/disposition. We maintain close relationships with several local financial institutions and may assist you in obtaining financing for an acquisition.
- Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic losses or damages.
- Pending or existing litigation can result in the need for expert testimony. Our professionals are qualified to present their opinion in court to support or oppose evidence submitted.
- Planning for retirement is a task we all must think about at some point, but with so many available options, determining the best choices for yourself or your company can be a daunting task. We can help you decipher the benefits and pitfalls and choose the best fit for you and your employees. Closely held businesses and self-employed individuals can significantly benefit from the valuable tax advantages of a qualified retirement plan such as a 401(k), defined-contribution or defined benefit plan, Keogh and SEP IRA, etc. We are well-versed in all types of plans.
- 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.
- As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor build an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.
- Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
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 company's future growth and success.
- We use accounting and auditing skills to provide an analysis of financial records in conjunction with dispute resolution. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices. Our team of professionals work closely with top Orange County law firms to uncover fraud or misappropriations of funds within an organization.
- During our years of experience dealing with many taxing authorities, we have achieved a level of competence and experience that can ensure our clients they are being properly represented before the various federal and state tax agencies. This area is one of the most undervalued services a CPA firm can offer but should be of high concern when selecting a CPA firm.
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.
Debt & Financing Services
- Debt management and the evaluation of financing options are issues that an experienced professional deals with every day. Let us use our experience to assist you in securing financing for your personal or business needs or consolidating your current debt to a more manageable level.
- We have Certified QuickBooks consultants on staff to assist clients with all their QuickBooks accounting needs. We are here to answer any questions related to set-up, reports, allocations, bookkeeping, or reconciliations.