The professional services that are available along with a brief description of each are presented below. Clients have the choice of working with the CPA and firm of their choosing that best serves their professional needs.
If you have a need for a service not presented, we would be pleased to refer you to a qualified professional to serve your best interests.
Audits, Reviews and Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:
- Audit- an intensive examination with the highest level of assurance
- Review - some analytical procedures conducted with limited assurance
- Compilation - based upon client information provided and used primarily for internal use.
Audit services are provided by Songin Luderman CVAs PLLC.
Accounting Software Selection & Implementation
With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you has become increasingly difficult. As accounting professionals, we are exposed to most programs through trade journals and actual use. Gregory K. Meyer, CPAcan help you choose and implement the system and other technology that best fits your needs.
Advisory Services To Business Owners
Even the most qualified business owners and managers can benefit from competent, objective feedback. Michael Songin's resume and experience in this area is based on years of actual local and international business operating experiences. We can help your company develop long-term objectives and specific strategies to facilitate your business' future growth and success.
We have experience and assist you with starting or expanding your business, multiple business entities, maximizing profits, business associations and relationships, extracting cash, tax accounting periods and methods, shareholder-corporation transactions, fringe benefits, compensation and qualified benefit plans, shifting control, valuation, legal issues, business interruptions and loss measurement, and estate planning to name a few.
We have experience in advising and assisting you with:
- Purchasing, Starting or Expanding a Business
- Maximizing Profit for Your Business
- Tax Efficient Methods for Extracting Cash From Your Business
- Income Tax and Estate Tax Planning Strategies
- Exit Strategies for Owners
- Retirement Planning
- Planning and Brokering the Sale of Your Business
. We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.
Business Succession Planning
Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company's day to day operations. With a solid background in tax and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.
Buying & Selling a Business
Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent staff has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations.
Certified Valuation Services
Whether you are thinking of buying a new business or in the midst of a difficult divorce, the amount attached to the value of your business or professional practice is important. We can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest.
Whether you are contemplating the addition of new computer hardware or overhauling your network, Gregory K. Meyer, CPA thru Business & Technology Consulting Inc. can assist you with many of the difficult decisions that must be made when designing your business' computer systems, software applications and custom data and report design needs.
Debt & Financing Services
Expert Witness Services
Pending or existing litigation can result in the need for a qualified professional to present his/her opinion to support or oppose evidence submitted to the court. Our level of competence allows us the opportunity to function as expert witnesses in such cases.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Loss Measurement and Litigation Support
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff that can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company's management team develop long-term objectives and specific strategies to facilitate your business' future growth and success.
Mergers & Acquisitions
Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations; product/service compatibility; competitive tactics and position; financial impact; and cash flow considerations.
The construction industry is one of the largest segments of the American economy. We are dedicated to helping construction industry professionals improve their operational performance and profitability. We have provided many services to construction industry for over 25 years, including the traditional tax, accounting and reporting services with which most construction professionals are familiar and request when needed. However, our firm is able to provide other valuable services that address critical needs not always recognized by business owners, nor offered by other professional firms.
We offer ongoing Accounting, Tax Advisory and Financial Reporting Services at fees that you will find very attractive with respect to fees charged by other firms. We also offer Advisory Services in the form of oral and written recommendations for your consideration and decision-making. Our Implementation Services involve helping you implement and monitor the recommendations. Transaction Services relate to specific transactions or events involving financing, or a project, a contract, or one that affects your business or your professional practice. Staff Support Services involve training and assisting your staff with specific tasks and responsibilities, including providing outside controller services.
We provide an extensive range of services to this ever-changing profession, whether you traditional bid or project manage, or whether you are a general building contractor, architect or engineering firm, independent trade contractor, developer-contractor or subcontractor.
The following is a partial list of accounting services that we can offer:
- Business start up services
- Business financial reporting for your bank and bonding company
- Interim internal reports
- Business tax planning and compliance
- Personal financial statement preparation
- Personal tax planning and compliance
- Representation before tax authorities
- Sales tax compliance and reporting
- Structuring and planning for your business and for specific transactions
- Project and contract accounting
- Measuring costs and damages
- Business and project financing services
- Compensation planning
- Valuing businesses and business interests
- Provide outside CPA controller services
- Entity selection and related tax elections
- Recommendations for legal, banking, insurance, investment, financing and other professional services
Construction Industry Client Advisory Services
- Choosing the Right Form of Entity
- Accrual vs. Cash Basis of Accounting
- Tax Reporting vs. Financial Reporting
- Depreciation Alternatives & Elections
- Retirement Plans and Planning
- Percentage of Completion vs. Completed Contract Accounting
- Non-percentage of Completion Methods for Small Contractors
- Calendar Year vs. Fiscal Year
- Employee or Independent Contractor?
- Delinquent Tax Returns and Tax Liens
- IRS and Labor Audits
- Lease vs. Purchase
- Capitalizing Expenditures vs. Expensing
- Pay Cash vs. Financing
- Corporate Tax & Bonus Planning
- Real Estate Development
- Joint Ventures
Divorce Strategy and Advisory Services
Our extensive divorce experience and services involve providing practical advice and experience for financial planning, costs of divorce, financial outcome management, valuation of business interests or property, recommendations for legal counsel for your needs, and minimizing the financial impact of divorce and adjustment.
Family and Business Office Services
We are tax and business advisors who provide highly specialized services to professionals, businesses and families offices that include: coordination of full scope bookkeeping and reporting, income tax, charitable giving and wealth transfer strategies, advise on business acquisitions and sales, structuring of real estate investments, working with affiliated professionals on private equity and venture capital transactions, planning for investments that utilize sophisticated ownership structures and managing tax compliance engagements.
Physicians & Medical Group Practices
We provide many services to healthcare providers and medical group practices, including the traditional tax, accounting and reporting services with which most providers are familiar and request when needed. However, our group is uniquely qualified to provide other valuable services that address critical needs not always recognized by healthcare providers, nor offered by other professional firms.
Our professionals can help you succeed in the changing healthcare environment by assessing the overall efficiency and profitability of your practice. Providers that can adjust to the risks of the changing healthcare environment and seize opportunities will be economically rewarded and retain a competitive market advantage.
We offer Medical Practice Advisory Services in the form of recommendations for your consideration and decision-making. Practice Transaction Services relate to specific transactions or events involving your professional career or practice.
We are dedicated to helping health care practitioners improve their operational performance. We provide an extensive range of services to this ever-changing profession, whether you are a continuing care practice or incident care practice; sole practitioner or large group practice, hospital-based or office-based.
Some of the healthcare practice matters that we can provide assistance with:
- Practice Management Review
- Advisory & Support Services for Medical Practice Administration
- Personnel Management and Staff Training
- Selection Of The Right Entity For Your Practice and Setting Up A New Practice
- Determining Provider Cost Structure
- Benchmarking Practice Performance
- Evaluation of Outsourced Billing & Collection
- Valuing Your Practice
- Practice Development, Mergers, Affiliations and Sales of Practice Interests
- Adding New Physicians, Structuring and Negotiating Employment and Shareholder Agreements
- Practice Split-ups & Separations
- Compensation and Retirement Planning
- Tax Compliance & Planning
- Practice-Specific Financial Reporting
Real Estate Financing & Project Development
Our experience and time invested in the real estate industry has required us to develop extensive capabilities to quickly prepare and present comprehensive financial, tax, cash flow, sales forecast outcomes and operating projections to assist you in analyzing your purchasing, leasing, development and financing alternatives and solutions. Please ask us for a comprehensive sample report for your real estate project.
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IRS & State Tax Problem Representation
We have over 30 years of experience dealing with the IRS and New York state tax authorities, and we have achieved a level of competence that can ensure that you are being skillfully represented before the various federal and state tax agencies in all matters, including taxpayer audits, refund claims, amended returns, non-filing, withholding and sales tax, trust fund penalties, tax appeals, tax assessments and collection action, liens, levies, innocent spouse, third party collection issues, offers-in-compromise, bankruptcy, criminal matters, penalty abatements and tax payment programs.
Michael J. Songin CPA CVA CGMA is registered with and authorized by the IRS to have direct IRS computer access to: 1) electronically file taxpayer Power of Attorney and Taxpayer Information Authorizations; 2) access the IRS computer Transcript Delivery System and electronically request and receive your tax information and tax returns; 3) Electronic Account Resolution to make online inquiries regarding a taxpayer's account; and 4) TIN Matching to electronically match a Taxpayer Identification Number with a taxpayer name.
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
Sales Tax Services
Many of our clients are responsible for collecting and submitting sales taxes in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.
Tax Planning & Compliance
Tax planning is an essential element of the tax preparation process for both individuals, business owners and professionals. By making tax planning part of your overall personal, business and practice strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.
We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to:
*Tax planning & return preparation
- Estates, trusts & gift
- Not-for-profit organizations
*Taxing authority representation
*Divorce and support issues
*Tax effects of buying/selling a business
Please note that your tax services are always and exclusively engaged with and provided by the CPA(s) and firm of your choosing and billed by that firm that provides those tax preparation services to you. For all tax return preparation and filing matters, Songin Luderman CPAs PLLC is the authorized electronic tax return filing transmitter to the various federal and state tax agencies and specifically does not provide any tax preparation services of any kind.
Please regularly visit our NewsLetter section of our website to help stay informed on new tax and financial developments that are important to you.
We prepare all returns on an accurate and timely basis. We have significant annual investment in tax research libraries and computerized tax preparation software to enable us to accurately and efficiently plan and prepare all Federal and all 50 States tax returns for various types of entities including individuals and family members, corporations, LLCs/LLPs, partnerships and trusts.
As an Authorized IRS E-File Provider we can E-File most tax returns for individuals and business taxpayers to achieve the highest level of compliance, refund and payment efficiency.