Tibbitts & Associates, PLC provides a wide range of services to individuals, businesses, and nonprofit organizations in a variety of industries. At Tibbitts & Associates, PLC we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
Our professional services include:
- Tax Preparation and Planning Services
- Audits, Reviews, and Compilations
- Nonprofit Services
- Payroll Services
- Mergers, Acquisitions, and Sales
Tax Preparation and Planning Services
At Tibbitts & Associates, PLC we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow, and keep you on track to your financial goals. Our expertise, experience, analysis, and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills, and notices.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Tibbitts & Associates, PLC's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
These services include but are not limited to:
- General ledger and financial statement preparation
- Bookkeeping (Monthly, quarterly, or annual)
- Accounting system setup and support
- Payroll processing
- Cash flow budgeting and forecasting
- Employee benefit and profit-sharing plans
- Corporate tax planning and return preparation
Audits, Reviews, and Compilations
Tibbitts & Associates, PLC's financial statement services comprise all three levels of assurance depending on your company's needs.
Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We perform audits for you to remove errors, ascertaining the validity and reliability of your information.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.
Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.
Estate and Trust Accounting and Tax Preparation
Administering an estate or trust can be a daunting task. Tibbitts & Associates, PLC can help executors and trustees of estates and trusts navigate through the administrative process by assisting with the preparation of judicial and non-judicial fiduciary accounting and with the preparation of federal and state tax returns.
The professionals at Tibbitts & Associates, PLC have extensive experience assisting the nonprofit community including:
- Application for exempt status
- Auditing, including single audits. We are qualified to perform audits under Government Auditing Standards.
- Reviews and compilations
- Preparation of forms 990, 990-T, and 990-N
- Consulting services
- Payroll preparation
QuickBooks Accounting Help and Assistance
QuickBooks can provide useful and timely information in the form of financial statements, reports, and graphs. However, it can only provide this information if you purchase the right product and then install, setup, and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.
Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Tibbitts & Associates, PLC can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.
Entity Selection and Restructuring
Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Tibbitts & Associates, PLC can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.
Tibbitts & Associates, PLC's payroll services can help you reduce the time spent on administration through developing and implementing a payroll system that will facilitate processing, timely payment, and preparation of tax returns.
Cash Flow and Budgeting Analysis
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Tibbitts & Associates, PLC can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending and re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
Mergers, Acquisitions, and Sales
Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Tibbitts & Associates, PLC can provide professional know-how to help you successfully structure the deal.