| Judd, Thomas, Smith & Company, PC offers a wide range of services to our individual and business clients. In addition to the list of services below and our extensive knowledge of accounting practices, there are other things you can count on from our firm - promptness, value, integrity and a willingness to listen.
We value the relationship with our clients as a "most trusted advisor" and that culture is ingrained into our practice. |
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| Accounting Services |
| At Judd, Thomas, Smith & Company, P.C., we focus on both your business and personal goals. Our Accounting Services Department crosses all the functional areas of our firm: auditing, review and compilation, tax, and management consulting.
From supporting your accounting department to serving as your accounting department, we offer supplementary or in-depth accounting capabilities, depending upon your needs. We are business owners ourselves and understand your needs. We have first-hand knowledge in successfully managing a company. Because of this, we offer you consultation and accounting services based on sound, practical knowledge rather than on theory.
We can customize any accounting system to accommodate your firm's size and specific requirements. Our accounting support includes:
Performing review or compilation services, as an alternative to an audit Preparation of all year-end reports, including 1099s , W-2s and W-4s Payroll reporting, including preparation of state payroll tax reports and sales tax reports Developing and reviewing on-site accounting systems Developing or reviewing internal accounting controls Providing emergency or permanent bookkeeping services Monitoring the performance of in-house accounting staff Providing accounting controller services
We also help our growth-oriented, privately held client businesses to maximize profits, minimize tax burdens, identify and evaluate financing alternatives, and undertake specialized management problems due to our close, day-to-day involvement.
We here at Judd, Thomas, Smith & Company, P.C. believe a business owner benefits from a broad-based advisor who understands your firm's operations and considers both your business and personal goals. Your growth and financial security are important to us.
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| Auditing Services |
| Judd, Thomas, Smith & Company, P.C. provides audit expertise to entities ranging from large, multi-state corporations, municipalities, school districts, not-for profit organizations to small, family-owned businesses. We pride ourselves on providing timely, cost-effective audit services that adhere to strict quality control standards along with a personalized approach.
Our audit approach emphasizes looking beyond the accounting entries to the underlying operations and economics which generated the year's financial results. We believe it is important for us to gain insight into the various business conditions which affect our client's financial condition and operations. Using this approach, our audits are planned based upon an in-depth understanding of the business and the environment in which you operate. This approach results in risk-oriented examinations, which are not only efficient and effective in terms of meeting professional and regulatory requirements, but also meet realistic cost/benefit criteria. Our audit always includes a fresh review and report on internal control weaknesses.
We believe our firm must establish and maintain open communication with management and be available throughout the year to provide responsive and varied professional services.
Our service approach is tailored to the unique needs and environment of your company. Just as you are dedicated to providing the best possible service to your customers, Judd, Thomas, Smith & Company, P.C. believes that thorough, timely, and responsive services to clients is our first priority. As we work with clients, we continue to seek more effective approaches to meet their specific needs.
Both our shareholders and managers are involved in the day-to-day operations of our audits. We believe the audits must be performed by seasoned professionals who have an in-depth knowledge of your company and your industry.
As a member of the SEC practice section of the American Institute of Certified Public Accountants, Judd, Thomas, Smith & Company, P.C. participates in a peer review of our quality and control procedures every three years for compliance. Peer reviews are conducted by CPAs from other firms, based on rigorous standards established by the AICPA. |
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| 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. |
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| 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. |
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| 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 |
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| 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. |
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| 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. |
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| 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. |
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| Litigation Support |
| 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 loss or damages. |
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| Management Advisory Services |
| Even the most qualified managers can benefit from Your business has become more difficult as the burdens of administration and financial management have increased. As a busy professional or executive, your management and organizational problems may seem to be growing while the time available for solving them is shrinking. Judd, Thomas, Smith & Company, P.C. recognizes that your business has its own special needs. We will assist you to identify your needs and problems and design our services specifically to solve them. As a member of your management team, we will not leave you with lengthy and expensive consultant reports. Instead, we will help you put the programs you select into action. Our services are designed to help you in every facet of your business.
Management advisory services consist of advice and assistance concerning such matters as your organization, personnel, finances, operations, systems, controls, and other aspects of current or proposed activities. We can help you with the most strategic, top-level decisions you need to make and can also help you with implementation of your strategies down to the most minute detail.
Our firm is organized to help you deal with:
Decisions concerning the proper form of business entity Budgeting, projections, and forecasting Structuring of your organization Compensation and profit sharing arrangements Partnership agreement and/or stockholder agreement provisions Personnel decisions
Our consultants are also able to assist you in the following areas:
Controlling your receivables Purchasing issues and policies Employee benefit compliance problems Office procedures and policies Time management assistance Property, casualty, and liability insurance considerations
Selecting a business advisor or consultant is a critical business and personal decision. The consultant must have a clear understanding of the administrative and financial issues associated with your business and a thorough understanding of how to deal with them.
Judd, Thomas, Smith & Company, P.C. recognizes your special needs and is ready to be part of your management team. |
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| Multi-State Taxation Preparation |
| Many of our clients have out-of-state nexus issues which require filing in those states. Our professionals are able to assist you in navigating these requirements and aid in the preparation of those returns. |
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| Personal and Business Financial Planning |
| Personal and business financial planning is an organized, well-planned system of using money and financial resources to achieve both short- and long-term goals. At every income level, there are steps you can take to make more efficient use of your assets and to make sure your financial future is secure.
The purpose of financial planning is to obtain the greatest use of an individual's or entity's financial resources while, at the same time, accommodating that person's desires, resources, and station in life. There must be an assessment of where one stands. This helps determine the parameters within which the plan can be developed.
People find that their financial objectives change during their lifetime. While survival is the prime objective in the early years, increasing family responsibilities, growing income, and changing lifestyles will change financial objectivess. At Judd, Thomas, Smith & Company, P.C., our financial advisors will provide different levels of financial planning--from counseling to comprehensive planning.
Your financial plan will include a review of the following:
Your net worth Goals and objectives Property and other assets Liabilities Cash flow Investments Retirement planning, estate planning, and tax planning Insurance need
Projections will be made of what would happen if certain events were to occur: death, disability, retirement. This takes in a review of your insurance coverage, retirement plans, and Social Security protection, as well as your investment and noninvestment assets.
If financial planning is to be truly effective, periodic reviews and updates are essential. In any lifestyle change, such as a marriage, birth, death, or divorce, your financial plan must also be altered to properly reflect the impact of the change.
At Judd, Thomas, Smith & Company, P.C., you will receive competent, objective financial advice tailored to meet your personal and business financial goals at a level of risk with which you are comfortable. |
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| Reviews & 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 two levels of assurance:
*Review - some analytical procedures conducted with limited assurance
*Compilation - based upon client information provided and used primarily for internal use. |
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| 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. |
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