Hancock Consulting Accounting & Tax Services
Our services
Our firm offers a wide range of services both to businesses and individuals. Unlike a large corporation, we give our clients customized quality service with a personal touch. Here is a list of the many services we offer. (The list is not meant to be all-inclusive, please feel free to inquire about a service you do not see listed. If it is something we cannot provide, we would be happy to refer you to another qualified professional.)
- Accounting services
- Tax services
- Consulting services
- Bookkeeping services
- Specialized services
- Financial statements
- IRS representation
- Tax planning
- Business entity selection
- Business succession planning
- Litigation support
- Purchasing and selling a business
- Asset protection
- Retirement planning
- Financial planning
- Estate planning
Accounting services
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot 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, which include the following:
- General ledger and financial statement preparation
- Bookkeeping (monthly, quarterly, annually)
- Accounting system setup for new business
- Computerized payroll services
- Business tax return preparation (sales and use tax and business property tax)
- Personal financial statements
- Litigation support
Tax services
We prefer to take a proactive versus 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 and return preparation
- Individuals
- Corporations
- Partnerships
- LLCs and LLPs
- Estates, trusts and gift
- Not-for-profit organizations
- Taxing authority representation
- Divorce and support issues
- Tax effects of buying and/or selling a business
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 a list of some of the areas in which we provide consulting services:
- Accounting software selection and implementation
- Type of entity selection
- Business valuations
- Buying and selling a business
- Computer systems
- Financial and retirement decisions
- Estate, trust and gift planning
Bookkeeping services
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.
Specialized services
Due to our diverse clientele, we encounter a wide array of financial and tax issues. As a result, we have gained valuable experience in numerous specialized areas. We feel our ability to provide such a variety of services reflects our versatility, competency and our dedication to quality client service. This expertise includes:
- Mergers and acquisitions
- Asset protection
- Investment review
- Bankruptcies
- Litigation support
- Cash flow forecasting
- Employee benefit plans
- Expert witness services
- Internet commerce
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 and/or making financial decisions.
IRS representation
We have experience in dealing with many taxing authorities. We have achieved a high level of competency that can ensure our clients they are being properly represented before the various federal and state tax agencies.
Tax planning
Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.
Business entity selection
Choosing the form of entity for 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 succession planning
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 daily 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.
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.
Purchasing and 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.
Asset protection
Asset protection or wealth preservation planning makes the enforcement of judgments 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.
Retirement planning
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and throughout your retirement years.
Financial planning
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.
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 your business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
