Our services
COLELLA & HUMPHRIES CPAs, LLC (“CHCPA”) provides a wide range of services to businesses and business owners in various industries. At CHCPA, our goal is to meet every client's needs in planning for the future and achieving their goals in today’s and tomorrow’s business environment. Our professional services include:
• Tax Services
• Accounting Services
• Assurance & Advisory Services
• Financial Reporting
• Estate and Trust Planning and Tax Preparation
• IRS Representation
• Bookkeeping/Write-up
• Entity Selection and Restructuring
• Payroll Services
• Cash Flow and Budgeting Analysis
• Financial Projections and Forecasts
• Mergers, Acquisitions, and Sales
• Debt and Finance Advising
Tax Services
At CHCPA, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities and maximize cash flow. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in current and proposed tax laws. We are knowledgeable and current on the tax laws and can apply them to the specifics of your business.
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Accounting Services
Think of accounting as the score card (or report card) for your business. It is important for you to know where your business stands before you know where it is going. Being able to rely on accurate, insightful financial information is key to making good business decisions, maintain profitability, and capitalize on opportunities. CHCPA’s accounting services can assist you with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system selection and setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
Some of our accounting services include:
• General ledger and financial statement preparation
• Accounting system setup and support (QuickBooks, Sage 50 (Peachtree), other)
• Bookkeeping (Monthly, quarterly, or annual)
• Payroll processing
• Personal financial statements
• Cash flow budgeting and forecasting
• Litigation support
Assurance and Advisory Services
At CHCPA, our focus is to develop close relationships with our clients and grow with them. This includes assuring the accuracy of financial records, understanding financial procedures and working to produce long-term strategies that help our clients through the countless challenges they face every day. Our clients benefit from our objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in their industry while remaining compliant with accounting standards and tax law.
Some of our assurance and advisory services include:
• Reviews and compilations
• Accounting software selection, implementation, and support
• Entity selection and restructuring
• Financial projections and forecasts
• Business succession
• Debt and finances advising
• Mergers and acquisitions
• Transaction structuring and negotiations
Financial Reporting
CHCPA provides financial statement services depending on your company's needs. Most companies prefer compiled financial statements (compilations). However, occasionally banks, bonding agents, or other outside parties may require you to have reviewed financial statements (reviews).
Reviews (limited assurance)
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 (no assurance)
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.
Estate and Trust Planning and Tax Preparation
Effective estate and trust planning can ensure financial security for loved ones, protect assets, and minimize taxes. For businesses, it can maintain a smooth succession of ownership. CHCPA's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets while minimizing tax liabilities of your beneficiaries. Everyone should have a well thought out plan as to how to disburse their estate while avoiding complications and ensuring that wishes are followed. Taking the steps to plan now will guarantee that your loved ones don't have any complications to deal with during a time of loss.
IRS Representation
We offer professional representation whether it’s a simple tax notice or a full blown audit. We know first-hand how difficult and frustrating it can be dealing with various government agencies – whether the IRS or state or local tax office. Our experience with these tax authorities will allow us to guide you through this maze and bring a resolution to your matter.
Bookkeeping/Write-up
Accurate, complete, and comprehensive record-keeping is essential to a successful business yet can also be burdensome and time consuming. CHCPA can help you organize your daily tasks necessary for an efficient bookkeeping system, thus allowing you to focus on what you do best, your business.
Entity Selection and Restructuring
The choice of business entity has a driving force on your taxes. From the beginning stages of your company and throughout its duration, CHCPA can advise you on choosing an entity type and later changing it, if advantageous. With our knowledge and expertise, we will constantly monitor your entity type to make sure your business operates as the most advantageous entity type at all times.
Payroll Services
CHCPA’s payroll services can help you develop and implement a payroll system that will meet your needs. Whether computerized or manual, we will develop a system that fits your needs, facilitates processing, monitors timely payments, and preparation of tax returns. If you prefer to process your own payroll, we will work with you to prepare and file all the necessary payroll tax returns due on a monthly, quarterly, and year-end basis.
Cash Flow and Budgeting Analysis
In the accounting world, we have a saying “Cash is King”. Being able to manage cash can improve a company's liquidity, reduce costs, and increase profitability. CHCPA can assist you to know when, where, and how your cash needs will occur. We will help determine what the best sources are for meeting your additional cash needs. Our relationships with bankers and other creditors can lead to a more direct access to cash.
Financial Projections and Forecasts
Projections and forecast are nothing more than predictions at best. However, with the expertise and experience of CHCPA, we work to gain an understanding of your business to produce financial projections and forecasts that are meaningful to business owners and can be relied upon by outside parties such as banks and/or investors. Forecasting for the future is key to your company's success. We constantly stay current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our services range from management summary reports to detailed financial models.
Mergers, Acquisitions, and Sales
Whether you are buying, selling or merging your business, CHCPA can help you structure and negotiate a favorable deal. We provide careful analysis and due diligence to determine that you are receiving a fair price, all while making sure the deal is structured favorably to minimize taxes and maximize after tax cash flow.
Debt and Finance Advising
CHCPA’s professionals can help you review the options available to manage your debt and potentially financing it in a way that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in additional tax deductions. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.