Exceeding Expectations

Audit & Attestation

At Thomas, Judy & Tucker, we provide a wide range of assurance and attestation services. Our audit methodology has been developed using a risk-based approach. We design our audit strategy around the size and nature of our client’s business. Our team has extensive industry knowledge across a wide variety of industries.

Our audit and attestation team provides the following services:

• Audits
• Reviews
• Compilations
• Agreed upon procedures
• Fraud examination / forensic services

Taxation

Both business and personal income taxation laws and regulations become increasingly complex with the passing of each year. Our team stays on top of the changing laws and technical rulings in order to provide our clients with the most current advice. Our team will make sure that you take advantage of any deductions allowable while staying compliant with the regulations. As your business grows, we will work with you to ensure that your expansion is matched by our service to your business. We are experienced with multi-state issues and will work to make sure that your growing business stays compliant with all state regulations and filing requirements. Providing excellent taxation service is so much more than just annual tax preparation and filing. We work with you throughout the year, generating tax forecasts and planning appropriately to minimize your tax burden when filing season arrives. We will shape our services to the specific needs of your business or you personally.  

Some keys areas we cover:

• Preparation of all applicable returns
• Entity Selection
• Taxation aspects related to the purchase or sale of business
• Multi-State taxation
• Selection of accounting methods
• Like-kind exchanges
• Tax and property settlement advisory
• Charitable gift strategies
• Cost segregation
• Income tax credits
• Representation during federal and state audits

Outsource Accounting

With this set of services, our clients can have a virtual accounting department without hiring anyone or adding to their payroll. We bring an experienced team to our clients’ accounting needs that can customize its services according to the specific needs of the client. The outsource team can do anything for a client that its own accounting department could do. The division performs services for businesses that look for a more cost-effective approach to financial management. Clients reap the benefit in their operations by reducing overall expenses, obtain stronger financial planning, and maintain better cash management. The division specializes in multi-location businesses, e.g., franchises, emerging concept or established restaurants, and multi-purpose businesses, as well as highly tailored plans for small to medium enterprises of any industry, or market served, as well as not-for-profit organizations. To learn more or inquire about TJT outsource accounting visit our page at tjtoutsourceaccounting.com  

This full-range of services includes:

• Financial statement preparation
• Cash management
• Payroll processing with tax report filing
• Sales tax reporting
• Accounts payable/purchase orders
• Accounts receivable/sales orders
• Job costing

Estate Planning

Proper estate planning allows our clients to provide for themselves now and their families and heirs in the future. Whatever your category of need, our firm has it covered. We use team approaches and can even bring in selected planning partners to ensure that all our clients’ needs are served. Our range of expertise encompasses gifting techniques, charitable gifting strategies as well as a comprehensive knowledge of the evolving federal estate tax laws and regulations. We work with our partners in the financial planning industry to provide you with a complete plan for your estate and financial planning. We work with you to make sure that you take full advantage of the yearly gifting exclusion as well as the lifetime gift exclusion. Our team can partner with you to help you select the most advantageous charitable gifting strategies which will allow you a tax break now and benefit your selected charity in the future. Our goal is to keep your estate tax burden as low as possible while at the same time passing assets on to your desired recipient.

Advisory

Advisory services at Thomas, Judy & Tucker, P.A. come in two types: direct and indirect. Direct advisory occurs when the client receives the valuable advice as their primary deliverable (see list below) and indirect when the client receives the advice in addition to some other accounting service they have contracted for. Firms can only offer this latter service if their people really know and understand the client’s industry and business. We hire, train, and groom people to be able to do just that. The firm helps its clients make use of the financial data, uncovered by the firm, to make better business decisions. In many cases, the firm’s accountants will point out the trend or direction to management. However, we always leave the ultimate decisioning process where it belongs – with our client’s management team. Providing excellent taxation service is so much more than just annual tax preparation and filing. We work with you throughout the year, generating tax forecasts and planning appropriately to minimize your tax burden when filing season arrives. We will shape our services to the specific needs of your business or you personally.  

The firm offers the following to solo practitioners, partnerships, non- publicly traded corporations, and non-profit organizations:

• New business formation
• Entity selection
• Merger and acquisition support
• Succession planning
• Sale of the business
• Forecasts and projections
• Accounting policies and procedures

Business Valuation

The business valuation team at TJT can help you sift through all of the appraisal requirements and considerations to prepare a rational, comprehensible, and defensible valuation. Valuations can range from certified appraisals prepared in accordance the standards of the IRS and AICPA, to calculations of value based on limited data and assumptions. Our professionals have experience across a broad range of industries including real estate, healthcare, architectural and engineering, construction and more. Our depth of experience enhances our ability to provide precision to assist with all your business valuation needs.

Purposes of Business Valuation Reports

• Marital Dissolution
• Gift, Estate, and Income Tax
• Succession Planning
• Buy/Sell Agreements
• Executive Compensation Issues
• Dissenting Stockholder actions
• Shareholder Oppression Cases
• Employee stock ownership plans (ESOPs)
• Business Damages
• Purchase Price Allocations
• Goodwill Impairment and Intangible Asset Valuations

Valuations can be prepared for business entities of any size, fractional interests, and for any industry group. In addition, valuation analysis can be provided for focused valuation issues including marketability and control adjustments. Services are also available for the preparation of financial projections, transaction advisory services, and litigation support.

Feasability Studies

A client may need projection engagements performed in connection with loan applications. Funding agencies such as United States Department of Agriculture will require a projection in relation to certain loan applications under certain programs that are administered by them. Projection engagements of this nature often include a 5 year projected balance sheet, income statement, statement of cash flows and related footnotes disclosing the signification assumptions used in determining projection amounts. An examination opinion or compilation report is often provided depending on the size of the loan. We also work with other financial institutions to provide projection reports for clients’ commercial loan applications as required by the financial institution.