Our Services

• Restaurant Services
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• Business Services
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• Accounting Services

As a professional accounting firm, Halverson & Company offers a range of service specialties designed to meet your ongoing needs. Our dedicated team of accounting professionals provides the “personal touch” approach to each of our valued clients. Our services offering include, but are not limited to those outlined below:

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• Accounting, Write-up and Compilation Services
• Accounting for Income Taxes (ASC 740 & Uncertain Tax Positions)
• 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 (ASC 740 & Uncertain Tax Positions)

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. In addition, we have in depth experience of the analysis required for Uncertain Tax Positions including implementation and documentation. 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.