Certified Public Accountant
Rodger D. Michell, CPA provides a wide range of services to individuals and businesses in a variety of industries. At Rodger D. Michell, CPA, 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:
Clients are guided through a full range of tax planning and preparation decisions with strategies that minimize tax liabilities, maximize cash flow and keep clients on track to their financial goals. The Firm's expertise, experience, analysis and thorough research allow for optimum financial opportunities to be found in existing as well as recently enacted tax laws. The firm is knowledgeable and up to date on the tax laws and can make sense of clients' receipts, bills and notices.
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From start-ups to established enterprises,
businesses rely on accurate and insightful financial information in order to maintain profitability
and capitalize on new opportunities. The Firm's accounting services will steer the client closer to these goals, helping the client achieve accurate record-keeping and financial 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
- Personal
financial statements
- Employee benefit and profit-sharing plans
- Corporate tax planning and
return preparation
- Litigation support
Financial reports can be set up for clients to review and streamline their businesses and save valuable time. These reports are important tools that can guide the client's business in making financial decisions, planning, and evaluating performance.
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Assurance and Advisory Services
At Rodger D. Michell, CPA, the focus is on building close client relationships
that add long-term value. This includes training the client about the importance of the solidity of financial records, evaluating
financial procedures and working to produce strategies that help clients face the myriad of challenges
in business planning and execution. Clients will benefit from objective analysis to assist in controlling
costs, increasing efficiency, and implementing new technologies and procedures that take advantage of
changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality (context), meaning more success for the client's business.
These services include but are
not limited to:
- Audits, reviews, and compilations
- Entity selection and restructuring
- Accounting software selection, implementation, and support
- Business valuations
- Financial projections and forecasts
- Debt and finances advising
- Mergers and acquisitions
- Transaction structuring and negotiations
- Business succession
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Audits, Reviews, and Compilation
Rodger D. Michell, CPA's financial statement services comprise
all three levels of assurance depending on customer needs.
- Audits offer
the highest level of assurance about the client's financial statements to third parties, and include in-depth examination and confirmation
of account balances, inventories, and other financial statement captions; and other procedures considered necessary by the Firm. Audits include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements as well as assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
- Reviews provide negative assurance to outside interests (meaning the Firm indicates nothing came to its attention that would require adjustment to the financial statements or additional or changed disclosure in the notes to the financial statements), and involve inquiries made to client management and others and analytical procedures intended to support or belie financial statement matters and that may possibly identify items requiring further analysis.
- Compilations are usually requested by clients for both internal purposes as well as for external use, and are based upon information provided by a company's management. They do not offer assurance although they may result in some adjustments to the client’s financial statements.
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Estate and Trust Planning and Tax Preparation
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Rodger D. Michell, CPA's role is to help the client navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of his or her beneficiaries. Everyone should have a well thought out plan as to how to disburse one's estate so as to avoid complications and to be sure wishes are followed. Having one’s taxes and estate thoroughly and carefully planned in advance will ensure an individual that his or her loved ones will not experience any additional complications during a time of loss.
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Financial and Retirement Planning
Rodger D. Michell, CPA's goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. You are guided through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Rodger D. Michell, CPA can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and this Firm can help you to take the proper steps to reach your goals. The reality is, the planning for retirement never ends, even for those presently retired, because factors such as economic or world events we have no control over may threaten or hasten your ability to be retired, and cause you to re-visit the steps you took in the past to determine if they are still appropriate when these events happen. This Firm is there to help you in these times as well.
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Litigation Support and Forensic Accounting
Rodger D. Michell, CPA litigation support and forensic accounting services can be employed in a wide range of situations, including commercial litigation, financial investigations, business catastrophes causing the need for accounting reconstruction, business valuations, business and marital dissolutions, and bankruptcies. These services can involve quantification of economic loss or damages, analysis of financial records, and fraud and theft investigation. Financial and personal records are often vast and confusing to sort through. The Firm’s professional background and training in this matter allows for making sense of these records and transactions and getting to your bottom line.
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Professional representation can be vital during an audit, and experience with tax authorities enables the Firm to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with the Firm can put many of your worries to rest. The Firm is ready and willing to assist you in this most serious need.
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Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Rodger D. Michell, CPA can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business. This can be accomplished by the client outsourcing this service to the Firm or even better by the client having the Firm train the client’s employee(s) in how to realize this important yet often so under-estimated business requirement.
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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, Rodger D. Michell, CPA can advise you on choosing an entity type and later restructuring if advantageous. With the Firm’s knowledge and expertise, consideration will always be given to the entity choice.
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Accounting Software Selection and Assistance
The goal of the accounting software is, very simply, financial reporting. Financial reporting is a broad term which covers the possible uses of the financial statements to its users such as company management, the company’s accounting firm, creditors, investors, SEC reporting, tax compliance, and possibly sales and purchasing decision makers, just to name a few. Financial reporting tells the numerical story of your business’ performance for a time period and position on a certain date.
The most important element of accounting software is realizing the full benefits of the features of the software, and knowing how to use the software to obtain those benefits, in order to realize the goal of successful financial reporting for your business.
The financial statements are the clients’, not the accounting firm’s. However, having said that, many times the client will ask its accounting firm for guidance or assistance concerning its accounting software selection, implementation, or use. Most small businesses use either Quickbooks or Peachtree. These two applications, used to their fullest, will work well for companies as long as for example the data files don’t get too large and only a few people need access to do their jobs. Ideally, accounting software should be first of all affordable, and should be selected based on the criteria of meeting your needs both today and in 5 years from now without alteration of the software or the need for add-ins. Besides basic financial reporting needs, Peachtree and Quickbooks can track inventory, some personnel matters, purchase and sales orders, projects, cost or profit centers, consolidations, and tax compliance matters. Both Quickbooks and Peachtree also offer enhanced versions of their basic product that may solve the issues a growing company faces after 5 years such as the need for more users who need access to do their jobs, or the need to communicate from individual offices or stores to a home office, or the issues of un-purged data files resulting from years of accumulated transaction history, etc.
Larger organizations typically use accounting software designed for bigger applications. Examples include SAP, Microsoft Dynamics, or Macola, just to name a few of the many well qualified brands available. Government organizations and school districts typically use software designed for government and not-for-profit accounting.
Whether your business size is small, medium, or large and whether it is in the private, government, or not-for-profit sectors, Rodger D. Michell. CPA can help you in the selection, installation, implementation, and full use of the software to meet your financial reporting requirements. You will also be trained in the use of the software through either the Firm or the combined efforts of the Firm and the software manufacturer (depending on whose software you purchase). Such training is often an ongoing process due to personnel turnover or changes in the business itself. The Firm is there for you throughout this time to help you address these situations as they occur.
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Rodger D. Michell, CPA's payroll services can help you reduce the time spent on administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of tax returns.
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Employee Benefits, Pension, and Profit-Sharing Plans
Choosing and administering benefit plans for your employees is often a complex process. Rodger D. Michell, CPA can help you develop, implement, and administer your benefit, retirement, and profit-sharing plans. These plans help maximize tax advantages for your business. By having one or more of these plans, as your business grows, your business and your employees will be rewarded for the hard work that contributed to the success of your business.
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Cash Flow and Budgeting Analysis
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Rodger D. Michell, CPA can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. Cash flow is something that dictates your business' ability to survive. The Firm can help you analyze your spending, rebalance your budget and/or debts for an optimal cash flow that will support your business at any size. This 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.
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Financial Projections and Forecasts
Financial forecasts and financial projections are two different types of prospective (“what if”) financial statements that present an entity's expected financial position, results of operations, and cash flows in future periods under two different conditions.
Financial forecasts assume that your business will continue to function in the same manner in which it is currently functioning. So if your business is in manufacturing and you want to know what the results would be in a future period if for example new orders were a certain amount, a financial forecast would be prepared for that future period, and disclosures of significant assumptions made in the forecast would be included in the notes to the forecast.
Financial projections make one or more hypothetical assumptions about your business’ future course of action. So if your business is a store and you are considering adding a web site to enable drop shipping of products for sale on the web site, and you wanted to know what the future results would be given certain sales levels, a financial projection would be prepared for that future period, and disclosures of significant assumptions made in the projection would be included in the notes to the projection.
No one can predict the future perfectly, but we can all benefit from planning for it. Rodger D. Michell, CPA combines expertise and experience with an understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. Together with the client, we make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, this work can range from top-level reports to detailed financial models.
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The range of needs for valuing businesses continues to widen, and Rodger D. Michell, CPA can provide in-depth analysis to help you identify and analyze the factors that drive the value of your company or one in which you have an interest. Uses for this service include estate planning and compliance, buying and selling businesses, divorce matters, family limited partnerships and ESOPs. There are so many factors that contribute to the perceived value of a business. This Firm, together with outside experts can help you evaluate entities that you have an interest in and guide you towards making business decisions that you feel confident with.
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Mergers, Acquisitions, and Sales
Expanding or contracting your business is a huge undertaking. Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, the Firm can provide professional know-how to help you successfully structure and negotiate the deal. The Firm employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics.
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Whether your needs are corporate or personal, the Firm can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax savings. Even if you are able to handle the payments and the amounts of your current debts, you may be still be able to save money and/or lower your payments.
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Whether you're a corporation with overseas operations or a business or individual needing to work out taxation of U.S. residents working abroad or foreign citizens working in the U.S., Rodger D. Michell, CPA can help you plot a course through cross-border taxation issues. There are many special rules and policies for businesses with a foreign presence. The Firm can help you make sense of how you are affected by them.
