Businesses rely on timely and accurate financial information not only for tax compliance but also as a management tool to maintain profitability and capitalize on new opportunities. Nigl Nigl & Mathe LLP accounting services can assist you with accurate record-keeping and reporting. We can set up financial reports to more efficiently run your business so you have more time to focus on what makes you profitable. These reports are important tools that can guide your business in making financial decisions, planning, and evaluating performance. We can also assist and/or supervise with the preparation of your financial statements.
These services include but are not limited to:
We monitor the changes in the tax law that could affect you and recommend tax saving strategies. We will prepare all your tax returns and serve as your advocate in all tax matters. Our firm offers a full range of tax planning and compliance services. We will work with you year-round in order to minimize your total tax burden.
Our tax planning and compliance services include but are not limited to:
We can assist you with your complete payroll processing. Many of our clients feel that their payroll information is the most confidential part of their business and at the same time the most difficult to protect. For those clients, we provide the perfect solution. We process and maintain all payroll information at our office to ensure confidentiality.
These services include but are not limited to:
Every Pay Period (Weekly, Bi-weekly, Monthly, etc.)
Every Quarter
Every Year
Business/Management Consulting
You know how to run your business. We use expertise from seeing what works for other business owners to identify issues concerning your business and offer strategies to help you operate more efficient and profitable. You may need assistance with accounting software selection and implementation, product pricing, buying/selling a business, succession planning or what employee incentive and benefit plans to offer. We can help.
Most family-owned businesses’ controller function is handled by the owner. We know that the owner’s time is better spent focusing on what makes the business profitable. We come to your office (weekly, monthly, quarterly or annually) to review your financial records and prepare reconciliations to ensure you are receiving timely and accurate information. We are there as a sounding board to assist with solving the day-to-day problems that every business faces.
Outsourced Bookkeeping
The goal of our outsource bookkeeping services is to remove you from the hassle of dealing with the never ending flow of bookkeeping details by providing a cost effective alternative to maintaining an in-house bookkeeper.
Outsourcing a "back-office" function such as bookkeeping allows the owner and/or management to focus on the core growth activities of the business. Whether your business needs a bookkeeper for a few hours a week, or a full-time position, you need a highly trained individual to give you an accurate, organized, consistent and cost effective solution to the ongoing accounting needs of the business.
The benefits of outsourcing are:
Cost Segregation Studies
A cost segregation study is a process to identify personal property assets that often get buried or lumped together within the real property asset. The goal is to reclassify those asset costs to the shortest possible depreciable life to enable the real estate owner to maximize their tax depreciation, thereby reducing current income tax obligation.
As a result of commercial real estate being depreciated over 39 years, a cost segregation study identifies 15-50% (depending on industry) of assets that may qualify and depreciated over a five, seven or 15-year life. The result is an increase in depreciation expense which reduces taxable income and increases cash flow.
Due to recent Revenue Procedures, owners of commercial real estate can go back and "catch up" on depreciation deductions that were not taken on previously filed tax returns. The procedure affords the ability to go back to tax years as far as 1987 without amending the entity's or shareholders' previously filed tax returns. The immediate correction or "catch-up" is taken into one tax year (current year) as an acceleration of their depreciation expense, which as a result, will enhance cash flow.
QuickBooks® 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.
Nigl Nigl & Mathe LLP offers the following solutions to help meet your QuickBooks needs:
Personal Training – We train you personally, at our office or yours. Either one-on-one or several individuals within your organization at your company's location.
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: Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. We have found that many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
Support – Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.
Review – Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.
Nigl Nigl & Mathe LLP will help you with any new business start-up. We can help you determine what type of entity classification to be (sole proprietor, partnership, C-corporation, S-corporation, limited liability company (LLC), limited liability partnership (LLP), or joint venture). We can fill out the required applications for federal and state elections and identification numbers.
Let’s face it, we all want to retire and not have to worry if we are going to be able to maintain or better our way of life. We listen to your concerns and help you develop a plan to ensure you have financial independence in your retirement years.
No one likes to think about the inevitable, but there is no time like the present to prepare and plan for your estate. Nigl Nigl & Mathe LLP can provide opportunities to lower taxes and allow you to pass on more to those you want and less to the government. Each person has different wants and needs when it comes to passing on wealth. We can address each of your concerns design an estate plan to address your needs. We can help you protect what you have worked so hard to accumulate over your life for your family and loved ones.
Unfortunately, the risk of fraud is not always a high priority to business owners. You want to believe you have the most trustworthy employees, customers and vendors. All we have to do is watch the news or read the newspaper to see that fraud is a very prevalent occurrence not only in public corporations but private family-owned businesses as well. We can help in this regard by assisting with the development of a fraud prevention plan that targets areas of weakness. We can also ensure that the systems that you have in place to prevent fraud are actually working as intended. If you believe fraud has occurred, Nigl Nigl & Mathe LLP uses accounting and auditing skills to review your financial records and analyze whether fraud has occurred and the extent of the financial loss.