Practice Areas & Services

Specializing in representing the closely held business and high net worth individual requires that we focus on tax planning and projections. We seek to plan for each of our clients and to stay involved with their business. Planning and spending time with our clients allows for the exchange of information necessary for us to provide insight and make timely and creative recommendations and solutions. We also strive to eliminate any surprise with the timing or amount of income tax payments that are due. All tax planning is done by partners and senior tax managers of the firm to insure quality and to draw on the many years of experience and love.

We utilize the latest technology including online tax research and invest heavily in continuing education to minimize the time and effort of preparing and planning for tax returns and to keep current on the many changes affecting Federal, California, local and Multi State tax issues. The following are some of the areas we concentrate on in tax planning:

• Estate & Wealth Transfer Planning Including:
• Lifetime gifts and sales to family members through the use of family limited partnership and LLCs, irrevocable trusts, life insurance planning, and charitable trusts. We specialize in wealth transfer strategies that meet the objectives of minimizing estate taxes, preserving parental and family control, and protecting the transfer of wealth to children and grandchildren from creditors, spouses and from mismanagement.
• Business Entity Planning For:
• Forming a new business including choice of entity and structure
• Acquisition or sale of a business
• Real Estate Tax Planning Including:
• Tax deferred exchanges under section 1031
• Tax deferred exchanges under section 1033 for condemnations by Federal, State or local governments
• Partnership taxation issues relating to:
• Basis and allocations of income
• Cost segregation to maximize depreciation
• Research & Development & Manufacturers Tax Credits
• Enterprise Zone Credits
• Distribution Planning From Qualified Retirement Plans
• Multi State & Local Tax Planning

We specialize in preparing the following types of Federal, California and Multi State income tax returns:

• Individual
• Business Tax Returns
• C Corporation including consolidated returns
• S Corporation including consolidated S Corporation returns
• Partnership and LLC returns
• Employee Benefit plan returns
• Sales, Business License, Payroll, and Personal Property Tax Statements
• Trust & Estate Tax Returns
• We specialize in Estate and Trust tax return preparation and assist in the creation, administration and funding of living and testamentary grantor and irrevocable trusts. We provide complete assistance to families as a result of the loss of a loved one including the planning and preparation of the estate tax return through the establishment and funding of the trusts required to minimize tax as prescribed by the family trust document. We work with and recommend estate-planning lawyers to prepare trust documents and wills and to assist in the administration of estate and trust matters.
• Fiduciary - form 1041
• Gift Tax Returns - form 709
• Estate Tax Returns - form 706

Business owners and management often view financial statement reporting as necessary only to comply with the requirements of their lenders, investors, shareholders or regulatory agencies. To be successful, clients need to make effective business decisions based on accurate and timely financial information. Our goal is to ensure that our clients receive additional value from the preparation or examination of our clients' financial statements, using the opportunity to provide these services as a way of better understanding our clients' businesses and being able to provide valuable recommendations for improving management's use of timely, accurate and customized financial reporting, tax saving techniques, internal accounting controls, and operational success of the business. We have learned that personalized and timely advice we have given to our clients can and often is implemented with meaningful results. We have participated in the onsite AICPA quality review program since inception in 1988, receiving an unqualified opinion each time, and have annual inspections so that we can insure that we provide comprehensive quality control procedures. We regularly and meaningfully provide continuing professional education to our entire professional staff. We employ state of the art computer technology and software, and our in-depth knowledge of business and accounting and our commitment to quality allow us to deliver reliable information in a cost-effective manner for the following accounting services:

• Audits, Reviews & Compilations
• Bookkeeping and Controllership Functions
• Inventory Audits
• Cash Flow Projections & Budgeting
• Development of Specialized Financial Reporting
• Design of Customized Executive Summary Reports
• 401 (k) and Employee Benefit Plan Audits Required by ERISA

We have been providing business management services to high net worth individuals, entertainment and real estate clients for over twenty years. We provide a full spectrum of business management services that center around being incredibly responsive and comprehensive. We assist our business management clients with the formulation of goals, development of strategies, and long-range planning. We work with our clients and provide complete support to their advisors or assist in the referral to an advisor (agent, manager, bankers, lawyers, investment advisors, and insurance agents). We have custom business management software that provides unlimited flexibility in reporting financial results as well as weekly cash balance reporting with complete detail. We never accept referral fees or commissions of any kind from any advisor or investment manager. Services we typically provide include:

• Weekly cash flow reports by account with a summary of all cash and investment account balances and cash management services.
• Pay personal and business bills, make deposits, maintain banking relationship and reconcile bank accounts.
• Bookkeeping services and preparation of customized monthly financial statements
• Tax planning and preparation
• Obtain and monitor personal and business insurance including evaluating proper coverage levels
• Preparation of budgets, forecasts, and projections
• Long term financial planning including referral to institutional quality investment managers and independent evaluation of investment opportunities.
• Forensic accounting, royalty audits, fraud detection and prevention services

As your trusted independent financial advisor and accountants we have the ability as a result of the depth of our knowledge and our experience in working with a client and our familiarity with their business to provide additional advisory and consulting services to our clients. Our collective years in servicing a wide variety of clients enable us to effectively identify problems, recommend solutions and implement systems that are proven successes. Some of the key areas in which we can consult include the following:

• Assistance With the Negotiation of Agreements Including the Acquisition or Sale of a Business, Structure of a Business, Settlement of Obligations at a Discount or the Restructure of Debt
• Strategic Planning and Consulting Including Profit Planning and Analysis
• Design of Customized Financial Reporting
• Due Diligence for Mergers & Acquisitions
• Entity Structure & Planning
• Litigation Support, Forensic Accounting and Expert Witness Testimony
• Internal Accounting Controls and Review
• Installation of Computerized Accounting Systems Including Quicken & QuickBooks
• Information Technology & Security Design and Review
• Compensation & Employee Benefit Design Including Retirement Plans, Deferred Compensation, Stock Option Plans, and Cafeteria Plans
• Business Valuations for Buy/Sell Agreements or for the Purchase of a Business Including Referral to Appraisers and Valuation Experts
• Financial Analysis of Operational Results and Cost Analysis
• Providing a Referral Network for Competent Advisers Such As:
• Lawyers for transactional, estate and tax matters and business litigation
• Bankers for lines of credit and term loans
• Insurance agents for all forms of business insurance
• Investment managers
• Loan brokers for residential & commercial mortgages
• Auto brokers
• Cost Segregation Study