Client Services

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.

Accounting Services

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Accounting for Income Taxes

Fowler, Howard and Reid CPAs can assist you your accounting for income taxes, such as FAS 109 now known as ASC 740. 

For companies without the resources of a full tax department, we can provide the in-house expertise or can augment what you have to fill out any resources gaps needed to complete these complex calculations.

With strong technical skills in tax rules and generally accepted accounting principles, our income tax accounting services include the following:

• Preparation and review of annual & quarterly tax provisions, and footnote disclosure.

• Analysis of disclosures

• Analysis of  Valuation Allowance

• Modeling/Forecasting temporary difference reversals

• Research to support tax positions

• Identification, analysis and tracking of uncertain tax positions (FIN 48)

• Share based payment analysis (FAS 123R)

• NOL Limitation Studies (IRC 382)

Entrepreneurial & Privately Owned Businesses

Managing your financial records is the key to growth and success. Our goal is to simplify and improve the financial operations and bookkeeping needs of our Entrepreneurial & Privately Owned Business clients so that they can focus on running their businesses.

With this in mind, we offer the following services:

• QuickBooks ProAdvisors:

               -  Discounts on Intuit Products and Services

               -  Linking of Software Components to Financial & Bank.

• Payroll Automatic to Financing Credit Cards Linked to Financing Billing Linked to Financials.

• QuickBooks Set-up

• Write-up and general bookkeeping

• Accounting and Budgets

• Receivables analysis with paperless reporting

• Trust and escrow accounting analysis

• Turnkey Services (Payroll Checks, Reports & Deposits & Tax Returns, Audits Representation)

• Corporate Reporting & Business License Compliance

Consulting Services

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Bankruptcy Services

Fowler, Howard & Reid, PLLC works with debtors, trustees, creditors, their lawyers and other advisors to ensure that the bankruptcy process moves smoothly.  We understand the diverse needs of parties involved in distressed situations, and realize the importance or timely accurate reports. 

In addition to the preparation of Final Tax Returns, and Tax Clearance Filings, Our bankruptcy services, also include the following:

• Bookkeeping

• Claims Administration

• Reconciliations

• Tax Asset Recovery

• Preparations of Final Tax Returns

• Preparations of Tax Clearance Filings

• Bankruptcy Services

Business Sale & Succession Planning

Whether or not you plan to transfer or sell your business soon, you need an exit strategy now! 

A successful exit strategy includes making your business more competitively attractive to potential buyers and maximizes the net cash remaining after paying transaction costs and taxes.

An owner who is key to the daily operations must plan for unexpected disabilities or similar circumstances to avoid a "fire sale" or outright cessation before business sales prices return to higher levels.

Our services in this area include among other things:

• Basis Studies

• Computations of Potential Gains

• Installment Sale Analysis

• Like Kind Exchange Analysis

• Pre-Sale Staging

• Key Man Insurance Analysis

Business Start Up & Entity Selection

Starting a new business is a challenging process and more than turning your idea into a viable product or service. Making your investment of money and hard work payoff is equally important. Part of that payoff depends on whether you make the right choices from the beginning.

Fowler, Howard and Reid can assist you with the start-up process in the following ways.

• Choice of Entity (S Corp, LLC, Partnership, Etc.)

• QuickBooks Set-up

• Bookkeeping

• Secretary of State & Tax Registration

• Full Payroll Services

• Income Sales Payroll & Property Tax Compliance

• Credits & Incentives (Provided by SALLT LLC.)

Tax Services

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Tax Services

We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to:

• Tax planning & return preparation

• Individuals
• Corporations
• Partnerships
• LLCs/LLPs
• Estates, trusts & gift

• Not-for-profit organizations

• Taxing authority representation

• Divorce and support issues

• Tax effects of buying/selling a business

   

   

Compliance - Tax Preparation & Outsourcing

Tax compliance is more than just filling forms; it's about identifying and seizing tax opportunities to save money!

Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities and individuals. In addition, we work with foreigners who have US reporting requirements and US Expats who live or work outside of the US.

The following is a list of some of the services we provide:

• Preparation of Corporate Income Tax Returns

• Outsourcing of Compliance Departments

• Assistance with respect to tax disclosures, reporting and related computations in areas such as:

• Tax Withholding and Related Reporting for Foreign Investors

• Tax Withholdings and related Basis Computations for Partnerships

• Foreign Bank Accounts & Offshore Asset Reporting & Disclosure

• Foreign Earned Income Exclusions, Related Computations, & Substantiation.

Consulting - Tax Research, Planning & Minimization

Whether you are looking for a tax professional to provide you with ideas or you are a tax professional who needs additional resources to implement your own planning strategies internally, Fowler, Howard & Reid, PLLC can help you.

We have the experience and pay for research tools, saving you money that you would otherwise need to invest in purchasing software and getting up to speed on various Federal, State & Local tax issues.  This frees up your time and resources to concentrate on other business priorities and to focus on tailoring your tax research to provide a real return on your investment in the tax function.

We constantly monitor tax legislation, regulations, and court rulings so we can provide the most effective tax planning for the future of your business or personal needs. 

We use our Big Firm experience to look at your taxes holistically from an overall perspective rather than narrowly focusing on one particular area to maximize total tax savings in a more comprehensive manner.

We approach your research and planning needs as business owners or Tax Directors and look for ways to use above the lines taxes such as sales & use taxes, fuel taxes or other non-income based taxes to increase gross margins and enable you to consider pricing alternatives that will provide more market share and successfully compete against your competitors by working smarter not harder.

We approach your individual research needs with a similar mindset treating your money as if it were our own.  

Controversy, Audit Defense & IRS Representation

During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal, state and local tax agencies. 

Our experience and relationships with Federal and state tax authorities provide us with access to senior level personnel who have the power to settle cases and therefore mitigate professional fees and tax liabilities.  

In addition, we frequently work with attorneys to assist them in quantifying the cost of pursuing different tax strategies and in preparing delinquent returns or other supporting documentation and calculations required as part of amnesty programs or other settlement agreements. 

We have successfully assisted clients in numerous areas beginning with the first tax notices received through successful resolution at the appeals levels, through negotiation of payment plans.

Our services include among other things:

• Responding to Tax Notices & Representation in Audits & Appeals

• Preparing Delinquent Filings

• Preparing Offers in Compromise & Payment Plans

• Preparing Penalty Waivers

• Preparing and Negotiating

• Voluntary Disclosure & Amnesty

Credits & Incentives

We offer Federal and State Tax and Non-Tax credit and incentives for expanding businesses.

See SALLT website for further details regarding Credits and Incentives.

Payroll Services

Payroll taxes represent a large portion of your employment costs.  New laws and increasing complexity require that businesses continually monitor this area of taxation.  In addition, trust fund penalties may expose owners or other employees with payroll responsibility to personal liability for mistakes. 

Most businesses find it easier to outsource their compliance to a 3rd party vendor. We can offer a reasonably price solutions for Payroll needs. 

Full Service Payroll Processing:

• Federal Tax Deposits and Filings

• State Tax Deposits and Fillings

• Payroll Tax Penalty & Trust Fund Assessment Defense & Removal of Penalties

• Offers in Compromise, Payment Plans, Appeals, and Assistance with Levies & Notices

• Tax Restructuring & Planning to Reduce Payroll and Unemployment Taxes.

Sales Tax Services

Sales tax can make a difference in your gross margin when your business must be competitive on pricing, and margins are thin.  Many businesses must rely upon volume to drive profits.  Our comprehensive approach to sales tax can provide immediate benefits to your bottom line.  In today's troubled economy, many states are increasing their efforts toward sales tax compliance in an effort to boost state revenues that have decreased as a result of companies continuing to operate in a loss position.

Effectively managing your sales taxes is required to protect your bottom line, especially given average sales tax rates ranging from 6% to 9% throughout the US.

We will review your purchases to determine whether you are paying hidden sales tax that may otherwise translate to refunds. We will also evaluate your operations to ensure that you are compliant to protect you from unexpected assessments in the event of an audit.  To the extent that we identify exposures, we will work with you to develop a strategy to mitigate the potential cost of non-compliance and will create a process for you that will prevent future exposure to fines and penalties.

As a result of our experience with sale & use tax we have successfully saved our clients millions of dollars which translated into above the line tax savings

Our sales & use tax consutling services include the following:

• Sales & Use Tax Compliance Review

• Sales & Use Tax Due Diligence for Potential Acquisitions

• Sales & Use Tax Preparation and Outsourcing

• Sales & Use Tax Recovery Service

• Sales & Use Tax Audit Representation

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Other Services

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Expert Witness Services

Today's litigious society demands that experienced professional be included in initial strategy meetings to ensure the highest probability of success.  Many lawsuits can be avoided or mitigated by proper consulting upfront.  A professional team including a CPA, attorney, and insurance professional can provide you with a critical advantage over your adversary in building a winning strategy.

Fowler, Howard & Reid PLLC provides litigation support and expert witness testimony for those situations that require specialized knowledge of tax and accounting including:

• Forensic Accounting

• Modeling of tax implication of various settlement offers

• Identification and measurement of deferred tax assets and other financial assets in divorce contests.

• Preparation and assistance with financial affidavits and individual tax returns

• Modeling and forecasts to support legal arguments.

QuickBooks Pro Advisor ®

Accounting can be a nightmare for small business owners.  QuickBooks is currently the most popular accouting softtware for small business owners.  We can provide you the help you need. 

If you want to take on the accounting and back office functions for your business, we will help you.  If you don't have the time or inclination, we can do it for you.