Auditing Services

While we recognize that most audit and review engagements are performed as a result of requirements of outside, third parties (i.e., lenders, funding sources, bonding companies or shareholders), we also believe that these services can be a useful management tool to improve administrative and accounting practices and profitability. Our audit programs are designed to help identify inefficiencies, internal control weaknesses and potential problem areas.

Working closely with our client's staff throughout the process, we strive to establish a smooth working relationship with a minimum amount of stress. Many of our clients actually look forward to seeing us each year as they view us as a friendly resource able to provide them with professional expertise in many areas. We have extensive experience with the special accounting and reporting requirements of non-profit organizations (from charities to labor unions) and employee benefit plans.

Accounting Services

Our accounting services include basic bookkeeping activities such as the preparation of bank reconciliations, recording of receipts and disbursements from client records, maintaining a detailed general ledger and asset depreciation schedules, and payroll tax reporting (i.e., quarterly and annual federal and state payroll tax returns). These services usually result in the preparation of interim period or annual compilation based financial statements as well as the completion of required year-end tax or information returns.

Our staff has acquired a detailed knowledge of each of our clients and has developed a strong working relationship with them. The goal at Parrish & Peterson is to blend the technical, practical, business and personal aspects into every engagement.

Tax Services

Parrish & Peterson believes that thorough tax planning and subsequent follow-up is a major key to individual and business profitability, net worth and liquidity. We place particular emphasis on developing and implementing creative, forward-thinking tax planning strategies to defer, reduce or eliminate federal and state taxes. The tax planning problems of closely-held corporations and their shareholders and executives and high-income individuals, including those who have incentive stock option planning issues, are an area of special expertise. This includes the analysis of investment opportunities, estate planning and retirement planning.

We work closely with each client to resolve any IRS, state, county or local tax issues. This includes representation, on their behalf, before the taxing authorities. Our staff has experience in negotiating favorable outcomes as a result of tax audits and has developed a working rapport with the various authorities and agents who represent those agencies.

We are available year-round to consult with you on issues that may result in significant tax consequences. We stress tax planning in order to develop strategies for minimizing your tax liability or exposure to audit.

Financial Planning Services

Our firm also provides a variety of financial planning services, whether your needs are a one-time consultation or a complete personal financial planning package, we have the expertise to provide all of your financial needs. Our objectivity and independence allows us to look at your financial assets, analyze your goals and objectives, process your information and recommend and implement specific plans for you as well as monitor your results. We offer services in all areas including planning for the funding for college education, insurance planning, investment strategies, retirement planning, tax and estate planning. Our services are fee based only. Because we do not sell products and do not receive a commission for the sale of a product, we believe our independent and objective planning services offer the best results for our clients.

Valuation Services

Our business clients frequently need to know the value of their business. This need may arise with the sale of the business, litigation support such as a divorce, estate and gift tax or succession planning, buy/sell agreements, or establishing and maintaining stock ownership or stock option plans for employees. Having had experience in developing valuation techniques, we believe we are best suited to provide valuation services to business owners, attorneys, judges, financial institutions and insurance companies.

Numbers, facts, figures, balance sheets and financial statements simply are not adequate to accurately measure the true fair market value of an asset. Many different approaches and methods of valuation analysis should be reviewed and selectively matched to the asset being valued. Selecting the most appropriate methodology, supported by various types of analysis, including sophisticated mathematical calculations, ratio analysis, industry comparisons, economic and market analysis, relative business risk assessment, and many other considerations is required to achieve a competent valuation. In addition, business valuators must have expertise in accounting, tax, finance, economics, litigation support and valuation theory. As a full-service firm, Parrish & Peterson has developed such expertise.

When valuing a business or assets, it is important to have the assurance that the valuation analyst considers all the relevant information and facts in order for the client to get the full economic benefit they deserve. Using a qualified business valuator will provide confidence, peace-of-mind, and the advantage of knowing clients will receive a professional product. As CPA's, we provide third-party objectivity, independence and credibility.