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icon-industry-white-professional-servicesPROFESSIONAL SERVICES

OUR REPUTATION ALIGNS WELL WITH YOURS.


Professional services firms sell knowledge and expertise. Your firm (like ours) has different needs and faces different challenges than that of a product producing business. Profitability comes from 'face time,' or billing hours, with clients – all of whom have different needs and demands. If team members don't meet with clients or work on specific projects, they don't earn money for the firm, plus without expert professionals and a strong reputation, the firm may fail.

With increased global competition for business and resources, consulting organizations must continually improve. These improvements cut across every aspect of the organization and all departments must work together to achieve service performance excellence.

Our CPAs take the time to learn about your specific needs and assemble a team of advisors with the particular expertise you need to get the job done. We provide our clients with accounting, audit, and taxation services, as well as help our clients keep a strategic focus on growth and success.

OUR CLIENTS INCLUDE:

  • Advertising/Media Companies
  • Architectural Firms
  • Engineering Firms
  • Law Firms
  • Professional Staffing Agencies

Download The Business Owner’s Guide to R&D Tax Credits eBook

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According to industry experts, less than 33% of companies that qualify for R&D tax credits actually apply for them. You may qualify for them and not even realize it.

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Impact of the Tax Cuts and Jobs Act on the Professional Services Industry

SPECIALIZED INDUSTRY SERVICES


Agreed-Upon Procedures Engagements

Agreed-upon procedures engagements are those resulting from a request that certain procedures be performed by an external accountant who lends credibility to the results of tests, evaluations and procedures on specific elements or accounts. Prior to performing the engagement, SVA works very closely with all parties to understand the procedures desired, the extent of testing required and the purpose for which the engagement was requested.

A report detailing the findings is prepared and delivered. As an unbiased party, SVA provides no opinion or certification regarding the results.

Analyze and Review Financial Statements

The effectiveness of a business can be measured many ways with financial benchmarking, arguably the most relevant tool. Benchmarking is a core tool in which the business is compare to goals, to previous years and to similar businesses. Our experts assist not only to properly benchmark your business but suggest other tools to help you analyze and review your financial position.

Business Structuring Strategies (Professional Services)

Accounting Method/Period Changes
We help our clients adopt changes in their accounting method or period for tax purposes. We advise them of the facts and circumstances the IRS considers to allow the change, prepare the required elections and forms, and get IRS consent to change the method. We also fully explain the tax consequences of making the change, so that any issues can be addressed and planned for proactively.

Consolidated Tax Returns
We prepare and review an accurate return for multi-entity consolidated groups in accordance with the complex tax laws by using the most highly qualified personnel. We stay abreast of new developments in tax law so that any requirements or beneficial planning techniques are made available to our clients.

Entity Selection, Formation and Structure Planning
We evaluate the different types of entities available and how they should be formed. We evaluate any changes and develop ideas on how to structure the business as it grows to meet client needs, both now and for the future.

Employee Benefit
In order to attract the best employees possible in a competitive market, often it comes down to what the company offers in employee benefits that drive the decision to accept the offer or take a competitor’s. Our experienced professionals can help implement benefit programs that make sense for the company and the employees.

Executive Compensation
We work closely with businesses to determine appropriate executive compensation including incentives, options and benefits. We help tailor a plan to meet and balance the objectives of the business as well as the executive.

Ownership Planning
All businesses will one day either change ownership or liquidate. SVA works with our clients to plan for their businesses' future, whether that is passing it along to the next generation, adding or reducing individual owners, or winding down operations. With advance planning, our valuation experts can help business owners increase the value of their business to maximize the selling price.  In addition, SVA can assist in proactive analysis and development of a company's buy/sell and operating agreements to avoid confusion and problems in the future.

In addition, SVA can assist in proactive analysis and development of a company's buy/sell and operating agreements to avoid confusion and problems in the future.

Business Tax Planning Strategies

Buy vs. Lease
There are a number of factors that must be considered in making a buy vs. lease decision. The risk of obsolescence, capital needs, accounting treatment, and the useful life of an asset are all factors that must be taken into account when this decision comes up. We can help analyze the situation and give insight into what will make sense for the business needs.

Depreciation Method Planning
We help determine the best depreciation method and incentives that will suit your business. We consider your industry and look at various scenarios to get the most tax savings possible. We work with extensive depreciation software that allows us to evaluate book, federal, state and Alternative Minimum Tax (AMT) depreciation considerations.

Like-Kind Exchanges
The tax-deferred exchange remains the most important tool in planning for non-personal real estate transactions. We work with clients to navigate the many rules and regulations that affect these transactions. We also will act on our clients’ behalf to arrange and act as a liaison between the various other professionals required to complete the transaction according to strict IRS rules.

Multistate/Nexus Tax Planning
Many companies do business in states other than where they are located – it’s part of growing your company, competing in a larger marketplace and making smarter business decisions. Service providers have a much lower threshold than what a typical “tangible goods” company faces when determining whether they are subject to taxation in a given state.  Our professionals can assist you in determining your company’s multistate tax situation, take steps to insulate your activities from overzealous states, and minimize your overall state tax liability.

Stock Incentive Planning
We work with clients to determine the best stock incentive plan for the company and its employees and the best structure for the plan. We work with stock option plans, stock appreciation right (SARS) plans, phantom stock plans, stock award plans, etc.

 
Measurable Results.
kl engineering mr banner

Measurable Results.

"SVA provides proactive sound financial and business advice. They help me gauge what we are doing well, what we can do better, and they develop strategies to guide my company into the future."

Kim Lobdell, President, KL Engineering

KL Engineering

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kleenmark-measurable-results-banner-sva-accountants

Measurable Results.

"SVA’s valuation of our company and their expertise in loan structuring was instrumental in maximizing the tax benefits as we transitioned ownership."

Scott Stevenson, Owner

Kleenmark

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barnes-inc-measurable-results-banner-sva-accountants

Measurable Results.

"We saved $20,000 in taxes and deferred over $500,000 of taxable income with the help of SVA. They are a tremendous partner for our company."

Mark Barnes, President/CEO

Barnes

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