As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Accounting Services
Accounting Services
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
*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
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:
*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.
Bookkeeping/Write-Up
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.
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.
Financial Statements
We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions.
Forensic Accounting
We use accounting and auditing skills to provide an analysis of financial records in conjunction with dispute resolutions, as well as fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.
Consulting Services
Accounting Software Selection & Implementation
With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you has become increasingly difficult. As accounting professionals, we are exposed to most programs through trade journals and actual use. Our experienced staff can help you choose and implement the system that best fits your needs.
Business Consulting
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.
Business Succession Planning
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 Valuations
Why would you need a business valuation? Establishing an accurate assessment of value for any business, enterprise or intangible asset requires in-depth, specialized knowledge. Business valuation professionals with practical experience as Certified Public Accountants (CPAs) are well prepared to meet the client’s exacting needs. Their varied experience and training in valuation theory and application, litigation support, accounting, tax, auditing, finance, insurance, economics, and investments prepare business valuation analysts to provide their clients with a comprehensive analysis and competent valuation.
Business valuations are vitally important in a number of situations that commonly confront business owners.
Numbers, facts, figures, balance sheets, and financial statements simply are not adequate to accurately measure the true fair market value of a business. Many different approaches and methods of valuation analysis should be reviewed and selectively matched to the asset being valued. Selecting the most appropriate methodology – supported by various types of analysis, including sophisticated mathematical calculations, ratio analysis, industry comparisons, economic and market analysis, relative business risk assessment, and many other considerations – is required to achieve a competent valuation.
When valuing your business or assets, it is important to have the assurance that the valuation analyst considers all the relevant information and facts so you get the full economic benefit you deserve. Using our qualified business valuators will give you confidence, peace-of-mind, and the advantage of knowing you will receive a professional product. When’s a business valuation necessary?
* Application for a loan
* Purchase or sale of a company
* Initiation of employee stock ownership plans
* Creation of a buy/sell agreement among owners
* Estate and gift tax determination
* Property settlements such as those involved in divorce proceedings
* Charitable contribution of company stock
* Commercial litigation
Our business valuation professionals are called upon to assist in the sale or purchase of a business, to advise on the terms of shareholder agreements, and to determine an appropriate value in litigation.
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 staff has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations.
Computer Consulting
Whether you are contemplating the addition of new computer hardware or overhauling your network, our experienced staff can assist you with many of the difficult decisions that must be made when designing your business' computer systems.
Consulting Services
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
*Business valuations
*Buying/selling a business
*Computer systems
*Financial & retirement decisions
*Estate, trust & gift planning
Estate Planning
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.
Financial Planning
A properly structured financial plan helps you to face financial challenges that may present themselves throughout your lifetime. Through the financial planning process, Horizon Financial Advisors, LLC can help you assess your financial needs and develop strategies designed to enable you to achieve your goals and strengthen your financial security.
Investment Review
As you develop your investment strategy, we will act as your sounding board. We can help you build an investment portfolio that takes into consideration the impact of taxes and is designed to produce favorable after tax returns.
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs…) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.
Retirement Planning
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
Other Services
Asset Protection
Asset protection, or wealth preservation, plan makes the enforcement of judgements against protected assets nearly impossible and allows the owner of protected assets to retain substantial control over these assets. Our firm can assist you with an asset protection plan that may include family limited partnerships, or offshore trusts.
Employee Benefit Plans
The accounting and tax issues involved with employer-provided benefit plans can be overwhelming. We can assist with the development, implementation and administration of your employee benefit plan.
Expert Witness Services
Pending or existing litigation can result in the need for a qualified professional to present his/her opinion to support or oppose evidence submitted to the court. Our level of competence allows us the opportunity to function as expert witnesses in such cases.
Litigation Support
It is no secret that litigation involves interpreting accounting, financial, statistical, and economic information. You know that preparing for court can require analyzing quantities of technical evidence, interrogatories, depositions, and documentation – within tight time limits. Being able to provide you with the information you need in the time you need it separates us from other firms.
Because we are highly trained and experienced CPAs, we understand the subtleties of financial issues the way attorneys understand nuances in the law. And because we specialize in serving the legal profession, we can provide you and your clients with extra assurance to help realize their expected financial rewards.
Although our work for you can be very complex, we know that explanations must be clear. We communicate our findings in straightforward terms. You can rely on our team to provide you the support you need – in your office and in the courtroom. From the most complicated of matters to the most pressing deadlines, we work for you.
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.
Tax Services
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.
IRS Representation
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.
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.
Tax Services
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
- Individuals
- Corporations
- Partnerships
- LLCs/LLPs
- Estates, trusts & gift
- Not-for-profit organizations
*Taxing authority representation
*Divorce and support issues
*Tax effects of buying/selling a business
Miscellaneous
Exit Planning
Start with the exit in mind. We have adopted a seven step process based upon John Brown’s #1 selling book “How to Run Your Business So You Can Leave it in Style”. Successful Exit Planning is based on the series of steps. Our experience and knowledge of this process, and working with you and your other advisors, we develop and complete an exit strategy that will meet or exceed your Exit Planning goals.
Securities offered through 1st Global Capital Corp. Member FINRA/SIPC. Investment advisory services
Joel M. Kosovsky, CPA/PFS, CFP is licensed to offer securities in the states of CT, FL, MA, ME, NY, OH & RI. This is not an offer to sell securities in any other state or jurisdiction.