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Devider

What is KP good at?

Our firm offers a wide range of services to our individual and business clients. Our clients benefit by getting personalized, quality service that is beyond comparison. We have listed below the services we offer to our clients along with a brief description.

Assurance & Advisory Services
Audits of Public Companies
Tax Planning & Preparation
Business Consulting
Estate Planning
Business Entity Selection
Business Succession Planning
Pension & Profit Sharing Plans
Management Advisory Services
 

IRS & State Representation
Financial Forecasts & Projections
Cash Flow & Budgeting Analysis
Estate & Trust Tax Returns
Mergers & Acquisitions
Business Valuations
Retirement Planning
Sales Tax Services

     

Services Provided Through Our Referral Network

Cost Segregation Services
Litigation Support
Investment Review
Debt & Financing Services

 

International Taxation
Buying & Selling a Business
Expert Witness Services
Financial Planning

Assurance & Advisory Services

Our assurance services include financial statement audits, reviews, compilations, and agreed upon procedure engagements of entrepreneur-owned and investor-owned private companies. We offer these services in addition to our audits of public companies and audits of employee benefit plans. Below is a description of the levels of assurance services we provide.

Audit – Highest Level of Assurance
An audit engagement provides the highest level of assurance. An audit is a systematic and objective examination of financial information, including the verification of specific information as it relates to financial information based on established guidance as promulgated by governing bodies.

Our process includes an understanding of internal controls and the testing of transactions, including third party evidential matter. An independent auditor’s report is issued based on our audit findings.


Audits of Public Companies
Public registrants are tasked with the increasing demands of regulators and investors. Our experience and expertise allows us to be trusted business advisors in assisting our clients in meeting those demands and to comply with the rules and laws set forth by the U.S. Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB).

As a PCAOB registered firm, we understand how to service public companies and their audit committees. Our professionals have experience in dealing with those issues specific to public registrants. Our transactional experience includes IPO’s, secondary offerings, business combinations, reverse acquisitions and PIPE (private investment in public equity) transactions. Our industry experience includes a wide range of business models including manufacturing and distribution, service organizations and companies in the technology sector.

Review – Limited Assurance
A review engagement consists primarily of analytical procedures of financial information and inquiries of management and is less extensive than an audit.

A review report expresses limited assurance.  Reviewed financial statements must include all required footnotes and disclosures.

Compilation – Lowest Level of Assurance
A compilation consists of presenting financial information that is management’s representation. 

A compilation report expresses no assurance regarding financial information.  Compilations do not require inquiries of management or analytical procedures. 

Which level of service is right for your Company?
The level of service that’s right for your business may depend upon many factors.  Here are some factors you might consider:

Audit and Review Engagements

  • Your financial institution or other lender requires an annual audit or review
  • The owners / shareholders request an audit or review – especially absentee or inactive owners
  • Regulatory or governing body may require an audit or review
  • Executive management may require an audit or review
  • If you are planning a large transaction or the sale of your business
  • Enhanced reporting for higher level tax and financial planning

Compilation Engagement

  • An interim compilation to supplement an annual review or audit or review
  • There are no requirements for assurance on your financial statements
  • Your business is small and you want professional-looking financial statements
  • You have limited needs for high level tax and financial planning
  • You require financial statements primarily for personal use

Other Assurance Services
We also perform audits of controls for service organizations.  Formerly known as SAS 70 audits, we provide SSAE 16 audit services.  We understand how technology is deployed and used which helps us identify control objectives specific to your organization.  Our quality control standards ensure our SSAE 16 audit report meets your needs and your clients’ needs. 
Our internal control professionals have experience in the following service organizations:

  • Loan servicing
  • Data center operations
  • Health care processing
  • Property valuation
  • Software as a Service
  • Claim processing
  • Data storage
  • Mortgage support

ADVISORY SERVICES
We provide advisory services to both privately held companies and public registrants. The Firm’s private company advisory services mainly include outsourced executive financial management through our outsourced CFO and Controller programs. 

CFO Services

  • Financial Reporting
  • Technical Research and Complex GAAP matters
  • Due Diligence
  • Assistance with Financing
  • Budgeting and Forecasting
  • Business Process Documentation and Reorganization
  • Cash Flow Management

Controller Services

  • General Ledger Management
  • General Ledger Clean Up and Catch Up
  • Financial Close
  • Financial Statement Preparation
  • Capital Asset Management
  • Consolidations
  • Foreign Currency Accounting
  • Comprehensive Account Analysis and Reconciliation
  • Inventory Analysis and Cost Accounting

The Firm’s public company advisory services include:

  • Financial reporting which includes assistance with initial public offerings, reverse mergers, secondary offerings, annual and quarterly reporting requirements, restatements and assistance in responding to SEC comment letters.
  • Technical research and assistance with complex GAAP matters.

Financial Forecasts & Projections

Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced team of professionals can assist you in achieving your company’s financial goals.

Tax Planning & Preparation

Tax planning and preparation form a winning combination for our successful individual and business clients. Whether you are a high net worth individual, a multi-tiered partnership, or a multi-state corporation, our experienced team of professionals can develop tax strategies that take advantage of new and ever-changing tax laws and legislation.

Business Consulting

We gauge our worth by the personal and business success of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions 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.

Cash Flow & Budgeting Analysis

A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses. We will sit down with you and explain what the results mean to your company. Cash flow and budgeting means nothing unless it is regularly monitored. We have a monthly or quarterly “Gameplan” program that assists in monitoring your company’s performance. Ask us for a demonstration of this powerful and invaluable tool the next time you visit our office.

Estate Planning

Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce the tax burden due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential through the reduction of estate taxes. We can guide you through the complex process of getting your financial affairs in order. We have teamed up with the very best attorneys to provide exceptional planning for our clients. Please contact us for a referral – we will be happy to set up a complimentary consultation.

Estate & Trust Tax Returns

Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.

Mergers & Acquisitions

Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations, product/service compatibility, competitive tactics and position, financial impact and cash flow considerations.

Business Entity Selection

Choosing the entity form for your business (e.g., “S” corporation, sole proprietor, limited liability company, partnership, etc.) is a crucial decision that can have longstanding tax implications – positive or negative. We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for you. Understand that what may be a perfect fit for your neighbor’s business may not be best for your business. A little effort spent early on in selecting the right entity could save you a significant amount of time, effort and taxes in the long run.

Business Valuations

Whether you are thinking of buying a new business or are contemplating selling your existing operations or a division, the amount attached to the value of your business is extremely valuable information. We will refer you to qualified resources who can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest. They will provide a full range of business valuation services. We assist clients with due diligence and reporting issues related to mergers, acquisitions, divestitures, financings, wealth transfer and tax reporting. We are recognized for our superior services, timeliness, top quality work, and, most of all, our integrity in the process. We hope that you would not consider buying or selling a business without an independent appraisal being prepared.

COMPANY VALUATIONS
M&A C to S Conversions ESOP Valuations Estate Planning and Reporting Partial/Fractional Interest Valuations Restricted Stock Studies Warrants and Stock Options Insurance Placements Buy-Sell Agreements

ACCOUNTING AND TAX COMPLIANCE
Enterprise Value Calculations Goodwill Impairment Measurement Purchase Price Allocations Stock Options

TRANSACTIONS
Fairness and Solvency Opinions Formation and Sale of ESOPs Transaction Advisory and Recapitalization

INTANGIBLE ASSET VALUATIONS
Intellectual Property (Patents, Software, and Technology) Trademark and Tradename Valuations

RESTRUCTURING AND REORGANIZATION
Corporate Recapitalizations Debt Forgiveness and Insolvency Opinions • Debt Instrument Valuations

LITIGATION AND EMINENT DOMAIN
Lost Profit Analysis Eminent Domain Proceedings Corporate and Partnership Dissolutions

Business Succession Planning

Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company’s day to day operations. With a solid background in tax and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.

Pension & Profit Sharing Plans

Qualified retirement plans (e.g., defined contribution or defined benefit plan, Keogh, 401K, SEP, etc.) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees. We have teamed up with advisors that can provide the required administration for the plan of your choice. Please give us a call for a referral.

Retirement Planning

Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.

Management Advisory Services

Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your company’s future growth and success.

IRS & State Representation

During our years of experience dealing with many taxing authorities, we have achieved a level of competence and experience that can ensure our clients they are being properly represented before the various federal and state tax agencies. This area is one of the most undervalued services a CPA firm can offer and should be of high concern when selecting a CPA firm.

Kling & Pathak LLP will help you understand, anticipate and strategically respond to federal and state tax authorities. Our team of professionals routinely handle IRS and state examinations and have helped clients across the broad range of industries and in diverse tax matters. Our extensive experience with IRS proceedings allow us to offer informed perspectives on the strengths and weaknesses of your company’s position in a dispute. We will explore every approach to achieve the best resolution for our clients.

Sales Tax Services

Many of our clients are responsible for collecting and submitting sales tax in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.

Cost Segregation Services

The goal in preparing a Cost Segregation Study is to identify building costs that have been traditionally depreciated over the standard 27.5 or 39 year life and then to re-allocate to their actual shorter lives of 5, 7 or 15 years. A study typically allows for much greater depreciation expense in the earlier years of ownership resulting in larger tax benefits to both businesses and individuals who own the real estate. We can refer you to qualified resources who have years of extensive education and experience in this very specialized area. They are able to offer studies of all types of real estate (commercial, residential, industrial and manufacturing) whether new or owned for several years. We can file the necessary tax forms to allow for catchup depreciation in the current tax year. Feel free to call us for a no-cost estimate of the tax savings to you or your business.

Litigation Support

Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic losses or damages.

Investment Review

As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor build an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.

Debt & Financing Services

Debt management and the evaluation of financing options are issues that an experienced professional deals with every day. Let us use our experience to assist you in securing financing for your personal or business needs or consolidating your current debt to a more manageable level.

International Taxation

Our experience with the taxation of U.S. residents working abroad and foreign citizens working in the U.S. has provided us with an extensive base of knowledge in the area of international taxation. We provide international taxation consulting to all of our foreign corporate clients as well as our U.S. entities doing business abroad.

Buying & Selling a Business

Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent team of professionals has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations. We can also assist you in obtaining financing for a possible acquisition. Our close relationships with several local financial institutions may assist you in obtaining financing for an acquisition.

Expert Witness Services

Pending or existing litigation can result in the need for a qualified professional to present their opinion to support or oppose evidence submitted to the court. Our level of competence allows us the opportunity to function as expert witnesses in such cases.

Financial Planning

A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.