Business

Business Taxation

We prepare income tax returns for various entities:

• Partnerships

• Limited Liability Companies (LLC)

• S-Corporations

• Corporations

• Nonprofit organizations

• Disregarded entity

We prepare income tax returns for various entities:

• 1099s

• Property tax returns

• Sales tax returns

Controller and Advisory Services

Small and medium-sized companies that are looking for a low-cost alternative to employing a full-time controller would benefit from our Controller services. Controller Services we provide include:

Developing Financial Controls

Rather than wait for an annual tax return, we encourage clients to take an active role in monitoring the performance of their businesses. We help clients:

• Standardize financial reports

• Compile critical financial data

• Implement budgeting and financial goal planning

• Improve the data flow to lenders and tax advisors

Understanding and Enhancing Cash Flow

Understanding the difference between cash flow and profit will help in making your business decisions.  We believe that cash flow is the most critical concept in financial management. We work diligently with clients to help them both understand and enhance their total cash flow. We help clients:

• Understand the nature and derivation of cash flow

• Develop detailed cash flow forecasts

• Understand bank financing

• Understand the role of working capital in cash flow management

• Implement cash flow enhancing policies and procedures

• Understand the role of capital expenditures in cash flow management

Accounting and Bookkeeping Services

Businesses need accurate and timely financial information in order to make the decisions necessary to maintain profitability and limit tax liability. We provide the support that you need to maintain accurate records and free up your time to conduct your business.

Our services include but are not limited to:

• General ledger and financial statement preparation

• Bookkeeping (monthly, quarterly, or annual)

• Bill-paying services

• Initial accounting system setup, training, and support

• Cash flow budgeting and forecasting​

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Quickbooks and Peachtree Accounting Help and Guidance

QuickBooks and Peachtree can provide useful and timely information in the form of financial statements, reports, and graphs. We can help you select the software that is right for your business. We offer the following services to help meet your software needs:

• ​Installation - We can install QuickBooks and Peachtree on your stand-alone computer or in a network environment, in either single or multi-user mode.

• Setup - We assist new users with initial setup including EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking, and Reports. We also help experienced users manage their businesses more effectively by improving their current setup.

• Support- If you have any questions or need guidance we will be there for you.​

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Entity Selection and Restructuring

Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, we can advise you on choosing an entity type and later restructuring if advantageous. You may have many questions about choosing the type of entity for your business, for example:

• Should I incorporate?

• Should my rental property be transferred into an LLC?

• What are the tax implications if I elect to be treated as an S corporation?

With our knowledge and expertise, we can help you choose the most advantageous entity type for the functions your business performs.

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Financial Statements

Riccabona and McGee, LLP's financial statement service comprise two levels of assurance depending on your company's needs.

• Reviews - provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.

• Compilations - are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.

Business Valuation Services

The range of needs for valuing businesses continues to widen, and Riccabona & McGee, LLP can provide in-depth analysis to help you identify and analyze the factors that drive the value of your company or one in which you have an interest.

A business valuation quantifies and substantiates your company's worth in terms of tangible and intangible assets. The valuation process is never simple. It requires a multi-dimensional examination of quantitative and qualitative aspects of your business, and an analysis of pertinent tax, financial, and industry data.

We have the expertise and credentials to perform valuations in a full range of situations, including:

• Buying or selling a business

• Gift and estate planning

• Marital dissolution

• Valuation of family limited partnerships

• Allocation of the acquisition price

• Corporate or partnership dissolution

• Shareholder disputes