AUDIT & ACCOUNTING SERVICES

TAX SERVICES

FINANCIAL PLANNING
 

CONSULTING SERVICES

      AUDIT & ACCOUNTING SERVICES

Preparation, presentation, and analysis of client financial statements, as well as attesting to financial statements prepared by the client, are the foundations of our practice. Our financial statement audit and accounting services approach encompasses the following:

• Deliverables, including substantive management letters with business analysis and solutions contributing to better business decisions and administrative practices

• Incorporates current technology including the constant use of notebook computers in the field

• Full range of audit, accounting, tax, and application software programs, during all engagements, including fieldwork

• Utilizing industry-specific programs

• Highly objective and management-oriented approach

• Maintaining close and constructive relationships

• Responsiveness to the needs of our clients throughout the year

• Timely review and reporting of information to management

• Industry specialization:

  • Manufacturing (including off-shore/international operations)

  • Railroad industry (nationwide client base)

  • Leasing industry

  • Closely-held businesses

  • Cutting-edge paperless environment, including electronic programs

  • Tax training specifically geared for field audit staff to recognize tax savings opportunities (e.g., research & development, ETI, LIFO)

  • Accessibility at all times by use of email, voicemail and wireless communications

• Cutting-edge paperless environment, including electronic programs

• Tax training specifically geared for field audit staff to recognize tax savings opportunities (e.g., research & development, ETI, LIFO)

• Accessibility at all times by use of email, voicemail and wireless communications

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      TAX SERVICES

The firm provides a wide array of tax services from meeting all statutory filing requirements for individuals, businesses, trusts and estates to the structuring of business acquisitions and divestitures. We employ the most advantageous techniques available to minimize and/or defer the payment of taxes.

All tax strategies are incorporated into sound business decisions derived through an overall comprehensive analysis of the particular situation. Use of state of the art technology and tax related software allow us to provide these services in an efficient manner. A partial list of our tax services includes:

• Cost segregation studies

• Entity selection

• Tax election evaluation and preparation

• Research and Development Credits Studies

• Specialized tax accounting methods

• Entity reorganization or liquidation

• Cost capitalization analysis

• Tax accounting methods selection and elections

• Sales and use tax studies

• Ruling request preparation for federal and state

• Representation before IRS and NYS

• Planning and preparation

• Tax return compliance

• Purchase price allocation on business acquisition

• Charitable contribution planning

• Retirement distribution planning

• Estate and gift planning

• New York State Empire Zone credits

• New York State Brownfield credits

• Federal Empowerment Zone benefits
   

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      FINANCIAL PLANNING

• Determining the goals and establishing services to be performed
• Gathering required information for evaluation purposes
• Prepare analyses of the current financial situation
• Develop preliminary recommendations and analyze impact on established goals
• Discuss preliminary recommendations with all parties to the engagement and develop final recommendations
• Prepare and deliver a written financial planning report
• Implement or coordinate implementation of recommendations
• Monitor and update the plan

The planning process will normally address the following issues:

• Cash Management
• Risk Management
• Education Planning
• Retirement and Accumulation Planning
• Investment planning
• Income Tax Planning
• Estate Tax Planning

      CONSULTING SERVICES

• Preparation of business plans
• New business formation
• Business valuations
• Structuring buy-sell agreements
• Ownership succession
• Financial planning
• Litigation support/expert witness services
• Preparation of loan packages and negotiation of covenant requirements
• Break-even analysis
• General financial counseling
• Analysis of budgeting and cash flow systems
• Operations reviews to reduce costs and/or increase efficiency of operations
• Merger and acquisition analysis
• Organization studies which develop more effective management structures
• General marketing and distribution plans
• Lease versus buy analysis
• Analysis of conventional versus tax-exempt financing (IRB)

INFORMATION TECHNOLOGY CONSULTING

In today’s rapidly changing, technology driven environment, there is a need for consultants who can assist small business by bridging the gap between business and technology. Since the focus of Bowers & Company CPAs, PLLC has been on providing world-class service to our clients; it only made sense to offer IT Consulting. Some of the services we provide for our clients include:

• Accounting system review and needs analysis
• Customization of existing system to increase the functionality of the accounting system
• Provide professional assistance with regards to the integration with external systems and migration of accounting data between systems
• Assist with installation, setup, and training on new systems
• Assist in migration from old system to new system
• Tailor computer general ledger software packages to meet the client’s specific needs
• Implementing, maintenance and monitoring of internal networks and PC’s
• Internet and web services

FAMILY BUSINESS PLANNING

During the next decade, family businesses across the country will attempt to successfully transition nearly $1 trillion in assets from one generation to the next. At Bowers & Company CPAs, PLLC, we have established the Family Business Practice Group, a team of expert accountants and consultants committed to helping you meet this challenge head on. Some of the services provided include:

• Estate and tax minimization planning
• Retirement and financial planning
• Succession and ownership transfer planning
• Family Office implementation and management
• Significant benefit of the Family Office is confidentiality
• Strategic planning
• Developing effective compensation systems for family members and key non-family employees
• Key non-family executive search and placement services
• Conflict management, negotiation and problem solving
• Facilitating regular family meetings to establish business goals, values and priorities

MERGER AND ACQUISITION CONSULTING

Bowers & Company CPAs, PLLC provides consulting services to a wide range of private businesses in the merger, acquisition, and private debt areas. We offer financial advisory, accounting, valuation, tax and due diligence services to companies considering a sale, merger or acquisition. Our expertise has been demonstrated in successfully representing many clients in purchases and sales of $5 million to $50 million.
 

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      SEMINARS & SPEECHES

• New Tax Laws
• Manufacturing Activities Deductions
• Brownfield Tax Credits
• Empire Zone Credits
• Tax Controversy
• Cost Segregation
• Hottest Tax Savings Ideas

The seminar is free of charge and held every January.

NOT-FOR-PROFIT SEMINARS

The Firm conducts an annual non-profit (NFP) seminar which includes current and informative topics affecting our clients. One current topic is "Financial and Operational Decisions in the Current Funding Climate" that will include Community and Government Leaders as panel guests. Seminars with panels such as these have provided invaluable insight into the current and future state of their respective organizations with an emphasis on the availability of grants and funding opportunities, discussions of collaboration and consolidation options within the local NFP community, and field attendees questions regarding similar topics.

The seminar is free of charge and held every spring.
 

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