Traditional Accounting Services from Portney and Company
Audits: Audits of financial statements are preferred or required by most investors, bonding companies, lending firms, or government agencies and others. In an audit, and independent CPA, tests and verifies information in the accounting records. Then the CPA expresses a written objective opinion on the financial statements within the guidelines of the AICPA. This provides the highest level of assurance to the user of the financial statement. Clients are also given recommendations on how to improve their internal controls and other aspects of their operations.
Review: Reviews of financial statements may be acceptable for some credit and interim purposes. There is no direct verification of data. The independent CPA determines whether the statements make "sense" after inquiring into record keeping practices and accounting policies and analyzing the various accounts.
No opinion is expressed on the financial statement after a review, except that the CPA is unaware of any material modifications needed to the statement.
Compilation: For a compilation of a financial statement the CPA puts the individual's or company's financial data into financial statement form. The CPA does not probe beneath the surface unless an error or incompleteness is detected. Our policy is to include full disclosure about a company's significant accounting policies and procedures.
Business Tax Services
Traditional Tax Services - In order to provide accurate and timely guidance our tax specialists remain fully versed in the ever-changing tax laws at the federal, state and local levels. All the latest publications, policies and procedures are available to us.
Legislative reports, drafts of bills and tax law changes are reviewed daily - and without customized software capabilities, we know that changes will directly affect you or your business - and what avenues should be pursued.
As part of our tax services, we will:
- prepare business and personal tax returns
- make projections of taxable income and liability
- develop retirement and estate planning
- review tax-deferred investments
- develop strategies to reduce your tax burden
- provide representation before the IRS
- design tax-qualified employee benefits plans
- and interpret and advise on the tax laws and proposed or pending legislation
Pension and Profit Sharing Planning - We perform this service in conjunction with our tax planning and outside pension services.
Tax Analysis of the Sale or Liquidation of Business - We can give you sound advice on the tax implications for your business and or personal tax liabilities and we know when it is necessary to also utilize the services of other professionals.
Handling of Tax Notices, Examinations and Appeals - We can assist you by both counseling and representation for both personal and business matters
Personal Tax Services
Planning for Retirement - to assure adequate income and minimal taxes.
Gift and Estate Tax Planning - to minimize the tax burden on heirs.
Transfer of Assets and Interests - to minimize taxes in these cases.
Family Business Consulting - we develop and implement strategies that control the impact of wealth on relationships among family members and outsiders without sacrificing needed management control and flexibility. Our consulting services include succession planning, estate planning, retirement planning and equitable compensation structure development.
Forensic Accounting - This is a specialty of ours, engaging in research and support of criminal investigation of accounting practices in business (e.g. matrimonial, embezzlement, etc.) We function in some cases as court appointed accountants to do audits and research company's financial activities and operations.
Identify Special Tax Accounting Methods for Your Business - Methods of accounting that can help minimize and or defer your tax liabilities by reducing the income reported on your financial statements and within the guidelines of compliance with the revenue laws.
Apply to Internal Revenue Service for Special Rulings and Appeals - for special business circumstances.
Assist Multi-State Business Operations - to minimize relevant state taxes.
Management Advisory Services
Business Valuation - Saves money and taxes in cases such as divorce, estate planning, gift giving, buying or selling a business or its property.
Loan and Bonding Assistance - Planning for your business future. Preparing of proper forms and statements so that your business can grow.
Reorganization of Small and Medium Size Companies - Help in making decisions on recruiting new employees and training your existing ones to improve efficiency.
Our knowledge of many business operations can help us make suggestions of changes in your company.
General Business Counseling - Changes in the business world and economy can be a threat to your cash flow. The financial knowledge and skills CPAs can bring to your business help when you need it most, so that your future can be financially healthy.
Contracting and Construction Services
Portney & Company understands that keeping an accurate track of costs is critical to the entire construction industry. We have a depth of experience in providing accounting and related services to construction managers, general contractors and subcontracting firms of all sizes.
Specialized Industry Services We Provide:
- Structure of a comprehensive cost accounting system
- Education & Implementation of percentage of completion system
- Education & Implementation of completed contract system
- Development/Review of job cost systems
- Development/Review of inventory controls.
Are You In Trouble ???
Dealing directly with IRS and all 50 States.
Get Your Returns Filed and Sleep Better at night. Our specialty is Multiple Prior Years Tax Returns.
Let us help you get in Compliance
Our contracting services team is highly trained and experienced in meeting the diverse and specific needs of our many contracting and construction industry clients
"Solutions That Are Custom Built" - We deliver custom built financial solutions that measure up to your specifications
Insurance Comparison Shopping Services - Portney Consulting LLC. is pleased to announce that we have expanded our services to meet the many requests from our clients. We will now be offering Insurance Comparison Shopping Services. We have made arrangements with over 50 of the top insurance companies to offer their products to our clients. Click Here for Details