We do not meet with success except by reiterated efforts.
-Francoise de Maintenon
Kay Perrone & Associates provides a wide range of services to individuals and businesses in a variety of industries. At Kay Perrone & Associates, 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:
At Kay Perrone & Associates, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow, and keep you on track to your financial goals. Our expertise, experience, analysis, and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills, and notices.
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From start-ups to established enterprises, businesses rely on accurate and insightful financial information to maintain profitability and capitalize on new opportunities. Kay Perrone & Associates' accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, and tax planning. We also have established business relationships with financial advisors who can assist with investments and employee benefit and profit-sharing plans.
These services include but are not limited to:
- - General ledger and financial statement preparation
- - Controller Services or bookkeeping (monthly, quarterly, or annual)
- - Accounting system setup and support
- - Payroll processing
- - Cash flow budgeting and forecasting
- - Personal financial statements
- - Compilation reports
- - Corporate tax planning and return preparation
- - Employee benefit and profit-sharing plans (through established relationships)
We can set up financial reports to streamline your business and save your valuable time. These reports are important tools that can guide your business in making financial decisions, planning, and evaluating performance.
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Assurance and Advisory Services
At Kay Perrone & Associates, we focus on building close client relationships that add long-term value. Our clients 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.
These services include but are not limited to:
- - Entity selection and restructuring
- - Accounting software selection, implementation, and support
- - Business valuations (through established relationships)
- - Financial projections and forecasts
- - Cost segregation studies
- - Transaction structuring
- - Business succession
- - Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis.
- - Compilations are usually requested for internal purposes and are based upon information provided by a company’s management. They do not offer assurance but may involve some adjustment to accounting records.
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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. Kay Perrone & Associates’ role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your 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 your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.
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Professional representation can be vital during an audit, and our experience with tax authorities enables us 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 our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.
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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, Kay Perrone & Associates can advise you on choosing an entity type and later restructuring, if advantageous. With our knowledge and expertise, you will always be advised regarding the most advantageous entity type for the functions your business performs.
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Accurate record-keeping is essential to a successful business, yet it can also be complicated and time consuming. Kay Perrone & Associates can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.
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Our Controller Service helps companies that have the human resources to perform basic daily accounting tasks but need an accounting and payroll expert to act as their Accounting Manager/Controller/CFO. This service is for small businesses that cannot or choose not to employ a full-time accountant to fill this role. The service is customized to your needs. We can write your checks for you, review your transactions, make adjusting journal entries, prepare payroll tax and sales tax returns, and produce monthly financial reports, to name a few available services. We also meet regularly to discuss what the numbers are actually telling you about your business. This service ensures that you receive timely, relevant, and reliable financial information. The Controller Services may be conducted on a weekly, quarterly, or monthly schedule, but weekly and monthly schedules provide you with up-to-date information and feedback about your business that you can act on immediately.
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QuickBooks ® Implementation, Training, and Support
QuickBooks can provide useful and timely information in the form of financial statements, reports, and graphs. However, it can only provide this information if you purchase the right product and then install, setup, and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.
Kay Perrone & Associates are QuickBooks Pro Advisors and offer the following solutions to help meet your QuickBooks needs:
Installation- We install QuickBooks on your stand-alone computer or in a network environment, in either single- or multi-user mode.
Setup- We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking, and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
Controller Service for QuickBooks users: Our Controller Services give you a higher level of service and can be performed at your site using your QuickBooks. See the Controller Service description above for more information.
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Kay Perrone & Associates’ 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. Kay Perrone & Associates has established business relationships with financial advisors who can help you develop, implement, and administer your benefit, retirement, and profit-sharing plans with an eye toward rewarding your employees and reaching your company's financial and business goals. We work with those firms to help maximize tax advantages in implementing 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. Kay Perrone & Associates can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending and rebalance your budget and/or debts for an optimal cash flow to support your business' success. This balanced plan will be revisited if and when there are any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
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Financial Projections and Forecasts
No one can predict the future perfectly, but we can all benefit from planning for it. Kay Perrone & Associates combines expertise and experience with a gained 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. 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, our 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 Kay Perrone & Associates has an established business relationship with a valuation expert who 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. Our expert help can help you evaluate entities in which you have an interest and guide you towards making business decisions with which you feel confident.
