Areas of Specialization
Employee Benefit Plans
Real Estate & Construction
Since the firm’s founding in 1990, the construction and real estate industry has been a major focus. Over the years since then, the firm has expanded its expertise in these areas. We go beyond offering simple accounting services; we offer solutions to achieve client goals. You will find that team members understand construction and real estate accounting in its breadth and depth. This layering of services runs the entire gamut, from acquisition to development and through the selling phase. Our firm takes a comprehensive approach and sees the full picture rather than a facet of it. Our expertise includes land development, commercial and residential real estate companies as well as investors with significant real estate holdings. As part of our practice, we work with some of the top real estate attorneys, brokers, engineering firms and architects in North Carolina. In the ever-evolving construction industry, you need a partner to work with you in the good times and over the rough patches. TJT has been such a firm for the Greater Triangle construction industry. Our clients have come to rely upon our experience, judgment, and perspective for good advice and effective business strategy. Builders and contractors have worked with us for years and have come to depend upon our firm for the full range of tax and accounting services. We work closely with a variety of companies in the construction industry including homebuilders, contractors, grading companies, subcontractors, HVAC, roofing, and other construction specialists. We use innovative approaches that will allow you to maximize the potential of your business while remaining in compliance with the ever-changing array of regulations and tax laws.
Thomas, Judy & Tucker, P. A. is an active member of the Triangle Construction & Financial Management Association, Triangle Commercial Association of Realtors, Triangle Commercial Real Estate Women, and the Wake County Homebuilders Association.
Restaurant and Hospitality
An accounting firm serving the restaurant and hospitality industry must be known for its client service and lightning-fast responsiveness. The owners and employees of Thomas, Judy & Tucker, P. A. provide nothing less than this elevated standard to our clients in the hospitality field. Our client base includes relationships with numerous Triangle based hotels and locally owned restaurants as well as several nationwide restaurants chains. We service these clients by providing outsourced accounting services, as well as tax and financial management services. Our customized accounting and tax services have helped our clients become leaders in the hospitality industry both in the Carolinas and throughout the country.
Manufacturing and Distribution
Members of our firm have developed a special expertise from years of handling the accounting and taxation needs of manufacturing and distribution companies. We offer a complete array of services that can be employed “off the shelf” or customized to fit the specific requirements of our clients. TJT does not just assist with tax or audit compliance but our services include planning to include budgeting and forecasting as well as process improvement support and analysis. We can can also assist with inventory control, management support, revenue analysis and provide cost accounting and cost reduction recommendations.
The firm’s non-profit team has extensive experience with a variety of non-profits. We perform audits and assist in the preparation of financial statements for private schools, churches, museums and other Triangle non-profits. Tax return Form 990 has become increasingly complex in recent years and we stay up to date with any changes or required filings for our clients. Our firm holds yearly seminars for local non-profits to help them stay on top of the ever stringent regulation of the non-profit industry. Our outsourced accounting department can provide higher level accounting functions that many non-profits cannot afford through a full-time employee. We can consult with your staff or the board of directors to establish sound financial practices and strategic long term financial goals for your organization.
Governmental & Affordable Housing
Our audit department has extensive experience with yellow book audits as well as audits of affordable housing entities. Our audit and tax teams coordinate their efforts to produce audits and tax returns in a timely and cost-efficient manner.
We perform audits, agreed upon procedures and cost certifications for new affordable housing projects. Commonly, these audits and agreed upon procedures are required by HUD, Rural Development and/or various other third party investors and interested parties. The tax department will complete the associated tax returns and compile the related tax credits for the partners.
Our audit department is fully compliant to perform audits under government auditing standards, Yellow Book Standards and OMB Circular A-133. One of our concentrations is charter schools, but we perform audit engagements for a wide variety of entities that receive government funding.
Employee Benefit Plans
We are experts in the rules and regulations that govern Employee Benefit Plans. We have extensive experience with the audits of benefit plans as well as the filing of Form 5500. Our team is well-versed in the audits of benefit plans for both for profit and non- profit entities. The penalties for not being in compliance can be extensive – would you trust your plan and your organization’s well-being to anything less than an expert? Our team stays up to date on the ever-changing standards that govern such plans and provide yearly training to our staff to ensure that we are offering the very best service possible. We are also a member of the AICPA’s Employee Benefit Plan Audit Quality Center (EBPAQC), established to help CPAs meet the challenges of performing quality audits in this unique and complex area. The EBPAQC provides guidance on current technical issues, best practices, education resources to help perform quality audits, awareness of key audit areas and audit deficiencies as identified by the DOL and AICPA, and insight for planning and performing the firm’s annual inspection of our ERISA employee benefit plan audit practice. We can work with you to determine whether your company’s plan needs to include audited financial statements with your 5500 filing.