Hallmann Advisors, CPA’s, P.C. provides a wide range of services to individuals and businesses in a variety of industries. At Hallmann Advisors, CPA’s, P.C., we strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Tax Management Services
At Hallmann Advisors, CPA’s, P.C., we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing, as well as, recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.
Accounting/Bookkeeping
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Hallmann Advisors, CPA’s, P.C.’s accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
These services include but are not limited to:
- General ledger and financial statement preparation
- Bookkeeping (Monthly, quarterly, or annual)
- Accounting system setup and support
- Payroll processing
- Cash flow budgeting and forecasting
- Personal financial statements
- Employee benefit and profit-sharing plans
- Corporate tax planning and return preparation
- Litigation support
Entity Selection and Restructuring
Perhaps the most important choice you will make as a business owner is the choice of entity you pick for your business. Your business entity has a large impact on your taxes and other liabilities. From your company’s inception through its growth and development, to the day you sell, pass on or close, Hallmann Advisors, CPA’s, P.C. can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.
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Assurance and Advisory Services
At Hallmann Advisors, CPA’s, P.C., we focus on building close client relationships that add long-term value. This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality or its context, meaning more success for your business.
These services include but are not limited to:
- Audits, reviews, and compilations
- Entity selection and restructuring
- Accounting software selection, implementation, and support
- Business valuations
- Financial projections and forecasts
- Debt and finances advising
- Mergers and acquisitions
- Transaction structuring and negotiations
- Business succession
Audit, Reviews, Compilations, & AR-C 70
Hallmann Advisors, CPA’s, P.C.’s financial statement services comprise four levels of accounting reports/assurance depending on your company’s needs.
Which Level of Assurance Report Should You Use?
Each type of financial statement report may suit specific circumstances, depending on your internal desires, your bank requirements or the necessities of other parties. Understanding each report’s unique strengths and weaknesses can help you choose the most appropriate one.
PREPARATION ENGAGEMENTS AR-C 70
A preparation engagement is a non-attest service (meaning a service where no opinion is expressed or assurance is given) provided by a CPA where we prepare financial statements or prospective financial information. It excludes the mere provision of bookkeeping services, such as recording transactions or processing journal entries. Preparation engagements must be performed using the guidance in the AICPA’s standard AR-C 70. Preparation engagements are considered to be the lowest level of service provided under the Statements on Standards for Accounting and Review Services (SSARS), and the accountant does not issue a report for preparation engagements.
COMPILATIONS
Compilations rely on data provided by management. They provide no assurance that financial statements are free from material misstatement and conform with Generally Accepted Accounting Principles (GAAP). Instead, the CPA puts financial information that management creates in-house into a GAAP financial statement format. Footnote disclosures and cash flow information are optional and often omitted.
REVIEWS
Next are reviewed financial statements, which provide limited assurance that the statements are free from material misstatement and conform with GAAP. Here, the CPA 1) applies analytical procedures to identify unusual items or trends in the financial statements, and 2) inquires about these anomalies, as well as the company’s accounting policies and procedures.
Reviewed statements always include footnote disclosures and a statement of cash flows. But the accountant isn’t required to evaluate internal controls, verify information with a third party or physically inspect assets.”
AUDITS
An audit provides a reasonable level of assurance that your financial statements are free from material misstatement and conform with GAAP. The Securities and Exchange Commission requires public companies to have an annual audit. Larger private companies also may opt for this service to satisfy outside lenders and investors. Audited financial statements are the only type of report to include an express opinion about whether the financial statements are fairly presented and conform with GAAP.
Beyond the analytical and inquiry steps taken in a review, auditors perform “search and verification” procedures. They also review internal control systems, tailor audit programs for potential risks of material misstatement and report on control weaknesses when they deliver the audit report.
Time for a change?
Should you change your level of assurance? Not every business needs audited financial statements, and audits don’t guarantee against fraud or financial misstatement. But the higher the level of assurance you choose, the more confidence you’ll have that the financial statements fairly present your company’s performance.
Please call if you have questions about which type of report is right for you or complete the form below.
Request information about Audits, Reviews, and Compilation >
Estate and Trust Planning and Tax Preparation
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Hallmann Advisors, CPA’s, P.C.’s role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one’s estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don’t have any complications to deal with during a time of loss.
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QuickBooks Accounting Help and Assistance
QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don’t just help you use the software, we help you use it more efficiently and more effectively.
Hallmann Advisors, CPA’s, P.C. offers the following solutions to help meet your QuickBooks needs:
Personal Training
We train you personally! Either one-on-one or several individuals within your organization at your company’s location.
Installation
We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode.
Setup
We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
Support
Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.
Review
Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.
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Monthly Bookkeeping/Write-up
Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Hallmann Advisors, CPA’s, P.C. can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business. Are you in business to be an Accountant or to run the business you love?
IRS Representation
Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.
Payroll Services
Hallmann Advisors, CPA’s, P.C.’s payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax returns.
When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.
Small business owners spend an average of 8 hours a month performing payroll functions. That’s 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.
We offer payroll solutions that meet your business’s needs and enable you to spend time doing what you do best–running your company.
Why Outsource Your Payroll…
It’s Cost Effective
Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees.
It’s a Time Saver
Our payroll service eliminates the burden of customizing, updating and maintaining your own payroll system–no more data entry, no more researching updates or new laws, no more worries.
Worry Free Payroll Tax Filing
Eliminate the risks of calculating and filing your own payroll taxes by having professionals do it for you. Federal, state and local payroll tax laws are frequently changing and becoming more complex. How much time do you want to spend learning all the rules and keeping your information up to date?
Allows You To Focus On Core Competencies
Our professional staff allow you to focus on the core competencies of your business. We are accounting professionals–you get the experts working for you and with you.
Comprehensive Reports
You get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include workers’ compensation reports and much more.
Get the Payroll Solution That Best Fits Your Needs.
We know that when it comes to payroll service – no one size fits all. That’s why we offer the following 3 custom payroll processing options.
1. Comprehensive Payroll Services
Our Comprehensive Payroll Service takes care of all of the payroll processing for you, so that you won’t have to. You get…
Your payroll checks prepared and printed on-time, every-time.
All of your payroll checks are laser printed on “blank” check stock to ensure maximum security and meet the micro encoding standards as set forth by the Federal Reserve System.
Direct Deposits
Worry Free IRS and State tax reporting as well as EFTPS tax deposits. User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee’s vacation, sick days, and personal days accruals. Creation and filing of the required new hire reports Your payroll records maintained in tip top shape.
2. After-the-Fact-Payroll Services
We will take your manually-prepared payroll records and other payroll information and post this information to our data files, so you get…
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee’s vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports
Your payroll records maintained in tip top shape.
3. My Pay Processing
You can enter your employee’s hours and earnings securely online and get…
The ability to instantly print payroll checks on your own printer.
Direct Deposits
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee’s vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports.
Your payroll records maintained in tip top shape.
Custom Payroll Reports Service
There seems to be an endless amount of special reports Government agencies require. We can prepare the following reports for you.
Worker’s Compensation Audits
Unemployment Claims
Social Security Audits
Child Support Audits
W-2 and W-3 processing
1099 and 1096 processing
Preparation/assistance with Federal and State registration forms
How much do we charge?
In order to give you an accurate price for our payroll services we need to know a little more about your business and what services you’re interested in. Our prices are very competitive and affordable. Please contact our office so we can learn more about you and you businesses needs 248-625-2727
Cash Flow and Budgeting Analysis
Good cash management can improve a company’s liquidity, reduce costs, and increase profitability. Hallmann Advisors, CPA’s, P.C. can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business’ ability to survive. We can help you analyze your spending, re-balance your budget and/or debts for an optimal cash flow to support your business’ success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
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Employee Benefits, Pension, and Profit-Sharing Plans
Choosing and administering benefit plans for your employees is often a complex process. Hallmann Advisors, CPA’s, P.C. can help you develop, implement, and administer your benefit, retirement, and profit-sharing plans with an eye toward rewarding your employees and reaching your company’s financial and business goals. We can also help maximize tax advantages in implementing these plans. As your business grows, your business and your employees will be rewarded for the hard work that contributed to the success of your business.
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Business Valuation
The range of needs for valuing businesses continues to widen, and Hallmann Advisors, CPA’s, P.C. can provide in-depth analysis to help you identify and analyze the factors that drive the value of your company or one in which you have an interest. Uses for this service include estate planning and compliance, buying and selling businesses, divorce matters, family limited partnerships and ESOPs. There are so many factors that contribute to the perceived value of a business. Our expert help can help you evaluate entities that you have an interest in and guide you towards making business decisions that you feel confident with.
Mergers, Acquisitions, and Sales
Business transactions and transitions are complicated affairs, and whether you’re buying, selling, or considering a potential merger, Hallmann Advisors, CPA’s, P.C. can provide professional know-how to help you successfully structure and negotiate the deal. Hallmann Advisors, CPA’s, P.C. employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.
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Debt and Finance Advising
Whether your needs are corporate or personal, Hallmann Advisors, CPA’s, P.C.’s professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.
Tax Credits and Incentives
It’s been proven that more than 50% of tax credits and incentives go unclaimed every year. Hallmann Advisors CPA’s P.C helps you take advantage of these less obvious opportunities to reduce costs and generate refunds. You’ll receive valuable insights on how to take advantage of favorable incentive packages – tax and non-tax savings opportunities for job creation, research, training and other qualified expenses.
Busy companies often overlook tax credits and incentives as ways to lower costs. Especially when there’s a general business or economic slowdown, opportunities arise to take advantage of tax incentives that can positively impact the bottom line.
Real Estate Investment Planning and Advisory
Planning for a Real Estate Investment whether Residential, Commercial, or Land is essential to ensure proper liability protection and ideal tax structure. Hallmann Advisors CPA’s P.C has had boots on the ground Residential and Commercial brokerage experience, granting our clients advanced Advisory/Strategy to make informed decisions.
Our firm also analyzes and implements Cost Segregation Studies as a viable accelerated depreciation method for all property types. Cost Segregation is often a strategy overlooked or missed that has the potential to result in large tax savings.
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