| Spain, Price, Reader & Thompson P.C. offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.
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. |
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| (Click Service Title For Details) |
| Accounting Services | Tax Services | ||
| Audits, Reviews and Compilations | Estate Planning | ||
| Services for Retailers | Lender Service Group | ||
| Real Estate | Professional Practice | ||
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| 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 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 |
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| Tax Services |
| We believe that each of our clients is entitled to every reasonable opportunity to minimize their taxes, operating within the framework of the law. Given the complexity of the Tax Code, we insist that our tax professionals be among the best and brightest minds in the field. These professionals are trained in the field of technical tax compliance and planning, employing the most current tax education programs, state-of-the-art research data and techniques and advanced automated tax return planning and preparation.
Our tax specialists are also exposed to other areas of our practice, thereby providing insights into nontax areas that might impact certain aspects of tax planning with nontax issues without the need for additional consultants. We offer proactive tax planning and service for individuals and corporations of all types, for partnerships and limited liability companies, for trusts and estates and for gifts. We also of representation during tax examinations by governmental authorities. |
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| Audits, Reviews and Compilations |
| Before management and directors , shareholders and creditors can properly evaluate where a business is heading, they must first know where it has been and where it is currently.
Our services to clients in this area vary, depending on the size and complexity of the entity. One or several of the following technical services provide various levels of assurance on the financial statements of a company. Audit – this is the highest level of service performed by our firm under the professional standards of certified public accountants. The objective of an audit is to provide a reasonable basis of expressing an opinion as to the fairness of the financial statements taken as a whole. Review – this involves inquiries and analytical procedures that provide a basis for expressing limited assurance by CPAs that no material modification should be made to financial statements. Compilation – this is the minimum level of service that can be performed under professional standards. The objective of a compilation is to present information that is the representation of management in the form of financial statements, without expressing assurance on those statements.
We comply with the rigorous standards of our profession and strictly adhere to all technical and ethical requirements of our governing authorities. As part of these standards, we undergo a peer review of accounting and auditing services by an independent CPA firm, which certifies that we meet or exceed professional standards. In addition, all applicable members of our firm meet or exceed the continuing education requirements of our governing bodies, which generally require a minimum of 40 hours of CPE each year.
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| Estate Planning |
| Perhaps the most vital and certainly the most personal of our wide range of service is estate planning. Here we call upon acknowledged expertise from internal and outside experts (attorneys and other professionals) with a single purpose: to maximize and conserve estates through generations.
Under the current legal and tax structure, this is a complicated and intricate process, which also involves any number of psychological and philosophical considerations. We help families preserve what has been acquired. We also seek the most advantageous methods of carrying out the philanthropic desires of individuals and families. We are up-to-speed on the various methods of conserving and putting wealth to use, protecting the rightful interest of heirs and structuring entities to conform to the desires of the family. At the most basic level, this requires empathy, understanding, a total knowledge of tax ramifications, realization of specific needs of individuals, recognition of special circumstances and tact. Estate planning is a basically simple process with incredibly complex possibilities. The genius is in the details. One of our unsung services is to follow-through with those, making complexities understandable to the client, after other specialists have finished their tasks. We supply solid information in understandable terms and structure the estate to meet your requirement and desires. |
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| Services for Retailers |
| Retailing is in the midst of rapid evolution. No longer does the end-of-day cash register total comprise the end-all and the be-all of the retail business. We began (nearly 50 years ago) as a firm that developed specialized accounting services for retailers and small/start-up businesses. As this sector has grown and matured, so have our services.
We are immensely sophisticated in what we offer. We are involved with retail business from open-to-buy decisions, computer software systems, leasing assistance, tax issues, margin, markup and markdowns and the bottom line. And we make it easy. Not the business itself, which in some ways is the toughest business around, but easy in the systems and information flow which help retailers marshal the data to make decisions. We become, in a very real sense, partners in the retailing effort. Our decades-long experience enables us to provide you with guidance and information and decision-points effortlessly, allowing you to concentrate on store design, buying, management, sales and all the other intricacies of retailing. We supply financial data analysis and proper interpretations for management, making sense of the numbers as it were. |
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| Lender Service Group |
| Asset-based lenders can realize significant cost savings and efficiencies by outsourcing due diligence (prefunding) and review (postfunding) services. Our Lender Service Group provides these professional services on loans ranging from $2 million to $2 billion. Our clients assure us that these services add significant value to collateral monitoring.
We provide due diligence and review services to a wide variety of industries. However, in a happy example of symbiosis, our intimate knowledge of the retail business allows us to help lenders understand retailing and collateral monitoring issues, primarily inventory. We, in contrast to many firms supporting the asset-based lending community, have only seasoned professionals in the Lender Service Group. We pride ourselves on the quality of our service and our clients agree, judging by the testimonial letters. These are general reasons why lenders think of us as a solid asset. Due diligence. We deliver. |
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| Real Estate |
| Real estate firms have real need of increasingly sophisticated tax and accounting information. We are at ease in this area, serving a growing number of companies who rely on us for assistance in structuring deals, accomplishing specific goals within the tax system and aiding troubled companies with workouts and planning.
For commercial developers, we can help with analysis of land costs, construction costs and Federal, state and local taxes; with pro forma income streams, balance sheets and cash flows, ROI and financing alternatives. For existing properties, we can structure the most favorable methods to accomplish goals within current tax regulations. Working with your professional real estate team, we can deliver information you need from rental rates and current lease considerations, to projections of cash flow in the future to expense stops, maintenance requirements and staffing. For troubled companies, we aid in workouts and lender/debt negotiations. We have the knowledge and experience to deliver the information and data you want and need with a minimum of lead time and management involvement. We view our role as advisors using our experience to acquaint you with financial data from similar projects and supplying the specifics you need to make useful decisions. Solid information, tax savings and accounting expertise. That’s what we deliver. |
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| Professional Practice |
| The tax compliance/planning, accounting systems and management consulting needs of professional practices are similar to those of other businesses yet have very specific and unique characteristics. We understand what your practice requires, be it legal, architectural, medical, advertising or engineering. Who better? We are a mid-size professional practice ourselves.
We further understand that professionals by their nature want the information required to make sound decisions but do not want to become heavily involved with the mechanics of delivering such information. Our consultancies to professional practice are designed to do just that. We are current, of course, on changing business and financial backdrops as well as applicable tax data. We help you with practice management, financial data and comparables from similar practices, tax and financial systems tailored to your specific requirements. We help you be comfortable with the business side of your practice so that you may concentrate on your profession. Our services help free you from tiresome involvement with business and let you focus on what you do best. With solid information and all bases covered. We deliver both. |
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