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ACCOUNTING AND AUDITING SERVICES

Accounting and Auditing Services are the backbone of Haynes Strand and Company. Clients and third party users rely on our reputation for efficient and accurate service. These services can be summarized as follows:

Audits
Reviews
Compilations

Auditing is an attest function to insure that a client’s financial statements properly reflect its condition as of the audit date. We examine financial records and procedures and perform other tests required by generally accepted auditing standards. When we issue an audit opinion, our professional reputation is at stake, so our client and interested third parties can rely on the high quality of our work.

A review applies inquiry and analytical procedures to client-provided data. It provides limited assurance that a client’s financial statements reflect its condition as of the review date. It is designed to see whether the financial statements appear reasonable without applying audit tests to the client’s data.

A compilation is a financial statement presentation of client-provided data. It is a professional look without the performance of any audit or review procedures.

We perform audits for several nonprofit organizations of various sizes.  We offer 38 years of experience in this area and currently meet all CPE requirements.

 

TAX PREPARATION

We prepare income tax and related information returns for the following type of entities:

Individuals
C Corporations
S Corporations
Partnerships
Limited Liability Companies
Limited Liability Partnerships
Employee Benefit Plans
Trusts
Estates

In addition to preparing annual returns, we are available to answer clients' questions throughout the year as tax related matters arise. Also, we are available to provide related services in the areas of tax planning, financial planning, and estate planning.

 

TAX PLANNING

Tax planning services are provided for:

Individuals
C Corporations
S Corporations
Partnerships
Limited Liability Companies
Limited Liability Partnerships
Trusts
Estates

At Haynes Strand and Company, we utilize state of the art research data and techniques and automated tax return planning software to assist our clients in minimizing their current tax bill. In conjunction with tax preparation, financial planning, and estate planning, we assist our clients throughout their lives in minimizing taxes and preserving assets for current and future financial needs.

 

PERSONAL FINANCIAL PLANNING

We provide assistance in planning for such future financial needs as college, vacations, retirement, health care, etc. We utilize automated financial planning software and risk-based techniques to assist our clients in preparing for these and other future financial needs.

 

ESTATE PLANNING

We assist clients in developing and coordinating a strategy to transfer the clients’ property to desired beneficiaries in a way that fulfills the clients’ goals and objectives. We utilize a systematic approach encompassing the following steps:

Setting Goals
Gathering Data
Developing the Plan
Communicating the Results
Implementation and Periodic Monitoring

Depending on the clients’ profile, we select which techniques best accomplish the clients’ goals and objectives.

 

PENSION & PROFIT SHARING PLAN ADMINISTRATION SERVICES

Our retirement plan consulting services assist you in designing and implementing a comprehensive retirement program, and in administering your retirement plan(s) in compliance with IRS and Department of Labor requirements. These services include the following:

Plan Selection and Implementation
Employee Benefit Plan Audit Services
Plan Participant Allocations
Plan Accounting and Bookkeeping
Information Return Preparation

 

FORECASTS & PROJECTIONS

We will compile, apply agreed-upon procedures, or examine prospective financial statements for an entity. An entity can be an individual, partnership, corporation, trust, estate, association, or governmental unit. The prospective financial statements may be a financial forecast or a financial projection.

A financial forecast is based on the responsible party’s assumptions reflecting conditions it expects to exist and the course of action it expects to take. A financial projection is based on the responsible party’s assumptions reflecting conditions it expects would exist and the course of action it expects would be taken, given one or more hypothetical assumptions. Such hypothetical assumptions might be an addition to a manufacturing facility or purchase of an expensive piece of equipment.

 

BOOKKEEPING & PAYROLL

The following is a partial list of bookkeeping services available from Haynes Strand and Company.

Record Journals
Post General Ledger
Reconcile Bank Statements
Post Earnings Records
Prepare Payroll Tax Returns and W-2's
1099 Reporting Requirements
Compiled Financial Statements:

Monthly
Quarterly
Annually

Accounts Payable
Payroll
Problem Resolution with Reporting Entities

 

BUSINESS CONSULTING

Over the years, our clients have increasingly depended on our business and management advice. Our continuous involvement with a large number of businesses in a variety of industries enable us to maintain an intimate knowledge of a broad range of business activities. Our partners and staff have the experience necessary to serve these clients in many business areas including the following:

Accounting Systems
Business Valuations
Computer Systems
Software Evaluation
Executive Compensation Plans
Financial Controls
General Business Planning

Our firm offers a variety of assistance with purchasing computer systems. We help our clients find the right computer system for their needs by analyzing system requirements, software and backup needs, and printer specifications. If necessary, after the system is purchased, on site training is provided by our staff to help clients become more familiar with their new computer system. Follow up support is also available for any future questions or issues that might arise.

We also offer support for established systems. Whenever a client has a technical question regarding hardware or software, our staff is available to help.

We help our clients choose an accounting package that is right for them. Each individual client’s needs are studied in detail and a software package is recommended that will fit their specifications. Our staff can help install the software and provide support for that package by providing software training. Follow up support is also provided for any questions or issues that might arise.

 

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