We offer a number of different services to our clients, which makes us a “one-stop shop” for all of your accounting needs. Our team has been trained in a number of different areas, and they have the experience necessary to complete a broad range of tasks. We can do everything from payroll and budget preparation to retirement and tax planning. So if you’re looking for a CPA in Corpus Christi that can help you or your business stay financially healthy, be sure to reach out to us.
Additional Services We Provide
Our firm can offer clients any of the following services:
- Quality Financial Advice — A good financial advisor can help you to avoid the unnecessary costs that come with not having the right financial knowledge, and they’re not just for rich people. It can be a great choice for those who want to get their personal finances in order.
- Payroll Services — This is an important part of any business, because it’s the system through which your employees and vendors get compensated for their work. In some smaller firms, it may be handled by the owner or a paid associate. But it’s usually managed by an accounting or human resources department.
- Business Valuations — This is the process of determining the economic value of a company, and it’s sometimes referred to as a “company valuation.” All areas of the business have to be evaluated, and the information gathered is used to determine how much the company and its departments are worth.
- Retirement Planning — Part of this process includes identifying income sources, taking a close look at expenses, implementing a savings program, as well as managing assets and risks. Future cash goals also have to be estimated, so you can get an idea of whether your retirement income goals can be achieved.
- Guidance on Health Insurance/Benefits — Because of the Affordable Health Care Act (ACA), you’re legally required to offer health insurance if your business has more than 50 employees. The cost for these benefits averages at $659 per month to cover an individual, which is split between the company and the employee.
- Annual Income Tax Planning — This can help you to reduce your tax liability because you’re taking advantage of any deductions and credits as you time income and expenses. It involves an analysis of your financial situation and any IRS tax codes, so you can minimize your tax liability at the end of the year.
- Entity Structuring and Restructuring — Your business entity can have a huge effect on your taxes and other financial liabilities, so choosing the right company structure plays a critical role in planning for the successful operation of your business. Everything from equity arrangements and tax advantages to long-term financing and succession of ownership can be affected by this decision.
- Minimizing Tax Penalties — The IRS imposes tax penalties for not complying with tax laws, and they can be due to a number of situations (including failing to file a tax return, late payments, and underpayment of estimated tax). Understanding and managing tax penalties can be a daunting process, which is why it can be helpful to hire a professional.
- Software Installations — The expense of installing accounting software is in the management and professional time than in the cost of the software itself. It needs to be structured so it can provide information that’s important to your business.
- Preparing Budgets — The budget of an organization determines how it can leverage capital to work toward its goals, which is why budget preparation is one of the most important skills for any business leader (whether it’s an aspiring entrepreneur, executive, functional lead, or manager). But before you can prepare your first organizational budget, you need to understand what goes into one and the important steps in creating it.
- Merger and Acquisition Assistance — Mergers and acquisitions can be an important part of any growth strategy, but not all of these deals will deliver the benefits that buyers promise. Operational problems are often discovered after the deal has been completed, and integrations can be more challenging than expected. That’s why it can be a good idea to hire a professional to help you with these deals.
- Structuring Buy/Sell Agreements — A buy/sell agreement is a contract between various members of an LLC with regard to the sale or offer to sell of a member’s interest in the company to the other members of to the LLC when a specific event or series of events occur. The purpose of this agreement is to limit the owner’s ability to transfer their interests and to avoid any unwanted owners. If it’s properly structured, it can help to establish the company’s value.
If you’re looking for a CPA in Corpus Christi to help you with your accounting and financial needs, be sure to reach out to Jennings & Hawley.