P&B Extended Client Services
As you take the time to put together your tax information, think about this...
Pittman & Brooks provides services well beyond tax return and financial statement preparation. We offer a wide range of services for your business and personal matters. Any one of our knowledgeable accountants would be happy to assist you.
QuickBooks
Are you struggling to get your QuickBooks data in order? Did you know that, in addition to our other services, we offer QuickBooks training and support? We have trained and experienced QuickBooks users on staff who can assist you with your QuickBooks needs.
Long-Term Care Insurance
Did you know that approximately 60% of people over age 65 will require long-term care at some point in their lives? Because Medicare does not cover most long-term care in a nursing home, private long-term care insurance has become more popular as a primary source of benefits. Private long-term care insurance policies have become more comprehensive in recent years, with many insurers now covering not only nursing home care, but home health care, adult day services, assisted living, personal care, and hospice care. While we are not insurance brokers, we can assist you in reviewing a long-term care insurance policy and in determining whether such a policy would be beneficial to you.
College Funding
If you have been thinking of ways to save for your children’s future education costs, you may want to consider a qualified tuition program. The income earned on your investments are tax-free and payouts to cover eligible higher education expenses will be tax-free when your children, (or other relative), withdraws the funds to pay for college. Another option to consider is an Education IRA. Funds set aside in an Education IRA can be used to pay for elementary and secondary school expenses as well as college costs, and like qualified tuition programs, the earnings and withdrawals are also tax-free. If you are interested in finding out if either of these savings plans is right for you we can provide you with some helpful information in order to make that decision.
Review of Wills
A will is a basic and integral part of your estate plan, it is the legal document to record your intentions on the disposition of your property upon death. While we don’t actually prepare wills, as part of assisting you with your overall estate planning process, we can review your will to ensure your objectives are met while minimizing federal and state estate taxes. For further information regarding your will please contact us.
Social Security
Do you have questions regarding Social Security? Are you, or someone close to you, nearing retirement age and wondering when to apply for benefits? Are you considering receiving benefits before your normal retirement age or possibly delaying them for an increased monthly benefit? We’re here to assist you with filing a claim or helping you understand the benefits you have worked so hard for and the tax impact of those benefits. Please give us a call with any questions you may have.
Fraud and Internal Control
How are you managing your business finances? Many business owners are discovering that their assets are not as well protected as they thought. This is especially true in small business environments where a single employee manages all the finances. Often there are no “checks and balances” to verify that transactions are accurate.
When proper, consistent procedures are not in place, employees can learn to manipulate the accounting system to their benefit. Whether they take money from the company or their mistakes are undiscovered, the end result can greatly impact your company's management decisions, financial reports and tax filings.
Unfortunately, once your financial records have been altered, discovering problems is extremely difficult. Most standard accounting practices are not designed to uncover internal problems such as embezzlement. Our firm can assist you in developing and implementing important internal controls that will help your company safeguard the integrity of your financial records and your financial assets.
Business Valuations
Are you thinking about buying or selling a business, or maybe gifting some of your stock? How do you decide on a fair price? That is where a business valuation comes into play. There are certain methods of calculating the value of a business to answer these various questions. We have a great deal of experience in calculating the value of a business and would be glad to assist you.
Retirement Plans
There are so many retirement plan options available, how do you know which one is right for your small business? We can assist you in choosing the optimal plan based on what is important to you. Some options and features include a salary deferral option, more stringent eligibility requirements, more time to establish the plan, no annual reporting requirements, and maximizing contributions. We can discuss the differences between the plans available with you and find the perfect fit for your business.
If you have questions on any of the above mentioned topics, feel free to give us a call at 503.684.9233.
