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Accounting Services

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Accounting, Write-up and Compilation Services
Accounting for Income Taxes (FAS 109)
Accounting Software Selection and Implementation
Business Formation, Entity Selection and Structure Planning
Business Operation, Strategic Planning and Finance Advisory Services
Budget and Cash Flow Preparation and Analysis
Fixed Asset Software and Database Conversion and Management
Income and Franchise Tax Planning and Return Preparation
Individual Tax
Corporation Tax
Partnership Tax
Estate, Trust & Gift Tax
Personal Property Tax
Payroll Tax
Sales and Use Tax
Federal and State Tax Return Audit Representation
Payroll Services
State and Local Sales and Use Tax Preparation
Merger and Acquisition Transaction Planning and Consulting


Accounting, Write-Up and Compilations

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 day-to-day tasks associated with accounting record keeping. In addition, we can provide compiled financial statements based upon client information provided and used primarily for internal use. We have made the decision to not perform any more extensive attest-function services than compiled financial statements. Accordingly, we are not in a position to assist with Audits or reviews of financial statements.


Accounting for Income Taxes (FAS 109)

With the implementation of the Sarbanes Oxley legislation, many audit firms are no longer permitted to assist their audit clients in the preparation of the required accounting for income taxes. We have extensive experience in the preparation of required tax provisions and the calculation of required current and deferred income tax asset and liability account balances. Let us assist you in developing your provision analysis for turn-key delivery to your audit firm.


Accounting Software Selection and Implementation

With the number of computerized accounting software packages available for small business and individuals growing every day, selecting one that is right for you has become increasingly difficult. As accounting professionals, we are exposed to most programs through trade journals and actual use. Our experienced staff can help you chose and implement the system that best fits your needs.


Business Formation, Entity Selection and Structure Planning

Choosing the form of entity (i.e. "S" corporation, "C" corporation, sole proprietor, limited liability company (LLC), etc.) 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 for your business. In addition, entity conversions and entity structure planning may be of importance to you.


Business Operation, Strategic Planning and Finance Advisory Services

We gauge our value by the personal and business successes of our clients. We can help evaluate 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.


Budget and Cash Flow Preparation and Analysis

A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company's financial condition, estimate financing requirements and alternatives, and track cash flow sources and uses.


Fixed Asset Software and Database Conversion and Management

For many companies, the investment in fixed assets is a necessary and significant factor and yet, so often, insufficient attention is given to properly accounting for this significant cash outlay and its ratable recovery. We have extensive experience with the available software packages used to manage this cost center and can assist your company with the software implementation and ongoing outsource maintenance of the related database. Proper accounting for fixed asset costs will help minimize personal and real property taxes. We have been able to cover the costs of monthly asset maintenance through reduced and abated personal property tax costs.


Income and Franchise Tax Planning and Preparation

Tax planning and preparation form a winning combination for our successful individual and business clients. The best time to save money on your taxes is before they are due, and this requires expert planning. By keeping current on new tax laws and legislation, we are in a position to identify key tax opportunities that minimize both your current and future tax liabilities. We provide one-on-one pro-active tax counsel to meet your unique needs throughout the year, not just at tax time. We are prepared to assist you in any of the following compliance and planning areas:

Individual Tax
Corporation Tax
Partnership Tax
Limited Liability Company/Limited Liability Partnership Tax
Estate, Trust and Gift Tax
Personal Property Tax
Payroll Tax
Sales and Use Tax


Federal and State Tax Return Audit Representation

From time to time, individual and business tax returns are selected for examination by the respective taxing authority. This should not be a time for alarm but should warrant careful interactions to minimize the exposure and inconvenience. We are experienced in our interactions with taxing authority personnel and are prepared to assist or represent you in connection with these matters.


Payroll Services

As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.


State and Local Sales and Use Tax Preparation

Many of our clients are responsible for collecting and remitting sales and use taxes in many different taxing jurisdictions. We are prepared to assist in the compilation of information and preparation of sales and use tax returns in an efficient and timely manner.


Merger and Acquisition Transaction Planning and Consulting

Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations, product or service compatibility, purchase or sale price allocation considerations, financial impact and cash flow considerations.

 

Islands Restaurants

"Tim Halverson and his team understand the restaurant business! They have been valuable business advisors for many years assisting us with entity structuring, tax projection planning, tip reporting, fixed asset management, and of course all our income tax and business property tax return filing requirements. There concern for our company along with their personal touch is evident in all they do".

- Doug Kollus, President
Rob Richards, Chief Financial Officer

Rubio’s Restaurants

"Halverson & Company have been a welcome addition to our list of service providers. As a public company, our tax accounting, tax planning, and tax rate analysis needs are a constant priority. Since turning to Halverson & Company to assist us in these areas, we have enjoyed a strong reassurance that this particular need is in good hands. They have exceeded our expectations both as to accuracy and timeliness, at times working directly with our independent auditors to get the job done"!

- John Fuller, Chief Financial Officer

Trophy’s Restaurants

"As a four-unit restaurant company, we work to keep our corporate costs to the minimum. We do not have the luxury of affording a full time finance officer. Tim Halverson and his qualified staff have been our outsource solution for assistance with strategic business, finance, entity structure, and tax planning decisions. He is always ready at the end of my phone to act as a sounding board and to provide his experience and counsel to the challenges of the restaurant business".

- Dale Wilson, General Partner

Boston Celtics

"Through the years, Tim and his staff have been instrumental in organizing and tracking my financial information and assisting with the many tax related planning matters that I encounter. I would recommend them to anyone as trustworthy tax advisors"!

- Danny Ainge, Executive Director Boston Celtics

Baltimore Ravens

"Tim has been with me through the years as I have continued to climb the football coaching ladder. Anytime I have a question, I just pick up the phone and he’s there, knowledgeable and informed, ready to help in the decision process. His experience allows him to advise from many different perspectives. I’m grateful to have him"!

- Brian Billick, Head Coach Baltimore Ravens

Baltimore Ravens

"I have only been with Halverson & Company for a short time now, but I can already see the value of making the change to them. They understand the professional athlete, they understand planning for the growth and protection of assets and the multi-state tax factors that we encounter and they do it with a personal touch! It was a good decision to bring them on to my team"!

- Todd Heap, All-Pro Tight End, Baltimore Ravens

 

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