Accurate and timely accounting information is vital for any successful business. Our experienced, knowledgeable team is ready and waiting to provide you with personalized service, whether you need it on a temporary or ongoing basis.
Here are just some of the professional services available to Scalisi, Myers & White clients:
We view our role in the financial reporting process as an opportunity to offer constructive guidance for maximizing your company's profitability and efficiency. We provide financial reporting on the following levels of assurance:
What you can measure you can manage. Meaningful, well organized financial records ensure that your business operations run more efficiently on a daily basis and are the foundation of a successful business. Our qualified team can assist you with the day to day task associated with your record keeping.
We view our relationships with our clients as ongoing partnerships, and we pledge to provide you with quality, up-to-date tax return preparation and advice, whatever your tax planning and preparation needs—whether you're a sole-proprietor business or operate a multi-tiered corporation or partnership.
But our dedication to you doesn't stop after April 15. Throughout the year, we focus on current tax laws to provide planning opportunities to minimize your tax liabilities and to maximize your future opportunities.
In today's hectic business world, it's a challenge to juggle all the daily tasks that keep your business running efficiently. One of the most time-consuming tasks any business owner faces is payroll.
Wouldn't it be helpful to rely on a trusted, accessible business partner to handle your payroll functions, from issuing checks to filing the necessary tax returns? We're here to lend a hand with our payroll services.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and development situations that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. Below are some of the areas in which we provide consulting services to add value for our clients:
Estate planning, litigation support, mergers and acquisitions, divorce settlements, buy-sell agreements... In cases like these, you need to know what your business is worth. We're here to guide you through what can sometimes be a difficult process, with a comprehensive analysis that will help you make informed decisions.
Litigation support involves our assistance to lawyers in the litigation process. In litigation support we perform investigative accounting, tax determinations, expert testimony, or financial valuations in dispute situations. Often litigation support involves the quantification of economic damages pursuant to existing or pending litigation. We also have specific experience in dispute situations related to the quantification of business interruption loss caused by catastrophic events. We have an experienced competent team who can compile information efficiently to assist in the calculation and documentation of any potential economic loss, damages, or other litigation support service.
A cost segregation study, conducted using the IRS' preferred detailed engineering appriach from actual cost records, identifies building costs that would normally be depreciated over a 39 ro 27.5 year period and reclassifies them to allow more rapid depreciation. The study consists of a detailed examination of construction and accounting records to properly identify the specific conponents of a building that can be reclassified as 5, 7 and 15 year life assets.
The reclassifications mean larger tax deductions over a shorter period resulting in tax savings and improved cash flow.
Generally, for every million dollars of property you reclassify to shorter recovery periods, the present value of your increased cash flow from income tax savings approximates $200,000+ assuming a 35% tax rate.
Also, under current IRS rules, you can perform a cost segregation study on a building that was placed in service during a prior year (after 1986) and “catch up” the additional depreciation amount to which you were entitled. Amended returns are not required, so it doesn’t matter if the statute of limitations has closed for the year the property was placed in service.
Through our affiliation with BKD LLP our cost segregation studies are performed by engineers and tax professionals who perform hundreds of studies every year.
Contact Leo Scalisi or Dale Myers to receive a no cost initial review to determine the cost/benefit of a cost segregation study for your building. As a general rule you will receive present value cash flow savings of 10 to 20 times your investment for the study.
To effectively manage financial affairs, you need three things: extensive knowledge, meticulous organization, and constant vigilance. Scalisi, Myers & White provides all that and more, thanks to a complete range of consulting and advisory services to help you sort through the complexities of financial planning.
We're proactive in serving each client's needs, providing helpful information and access to a wealth of resources on a regular basis.
Our financial planning services include: