At Ambrosi Donahue Congdon, we offer a comprehensive array of creative and strategic tax and financial services for individuals, S corporations, corporations, and nonprofit businesses.
We conduct audits of financial statements for non-public companies, non profit organizations and pension plans. An audit is the highest level of service performed on an entity’s financial statements. The objective of an audit is to express an opinion on the financial statements as to whether they are fairly presented in conformity with generally accepted accounting principles or other comprehensive basis of accounting. Audits need to be conducted in accordance with auditing standards generally accepted in the United States of America and planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit consists of examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements by obtaining corroborating evidential matter through inspection, observation or confirmation, and certain other procedures. An audit also consists of assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
We conduct reviews of financial statements for non-public companies and non profit organizations. A review is the middle level of service performed on an entity’s financial statements. A review consists of making inquiries to an entity’s personnel and applying analytical procedures to financial data. The objective of a review is to express limited assurance that there are no material modifications that need to be made to the financial statements in order for them to be in conformity with generally accepted accounting principles or other comprehensive basis of accounting.
We conduct compilations of financial statements for non-public companies and non profit organizations. A compilation is the lowest level of service performed on an entity’s financial statements. A compilation consists of pulling together unaudited or reviewed financial information and presenting that financial information in the form of financial statements without undertaking to obtain or provide any assurance on the financial statements.
Strategic Income Tax Planning
We conduct systematic analysis of available options that minimize our clients’ tax liability through favorable strategies in current and future tax periods. For example, we review retirement plan options and annual contribution amounts to determine both the tax implications of different entity structures and the most advantageous method of selling or gifting significant assets.
Our firm prepares federal and state tax returns for individuals, small businesses, corporations, and nonprofit organizations. We research complex and continually changing federal and state tax issues to ensure our clients are utilizing all available opportunities to minimize their tax liability. We are alert as to state nexus requirements and the filing requirements for companies operating in multi-state jurisdictions. For large clients who are required by investors to be audited by a national or international CPA firm, we offer an alternative to using the firm for tax compliance services. Our professionals, who have years of private industry experience, bring creativity, value and continuity in working with the financial management team.
Sales Tax Compliance
Our firm helps clients prepare monthly or quarterly sales and use tax returns, both locally and in multiple states. We assist companies in determining which items are tax-exempt. In addition, we determine whether they have nexus in a particular state, and are subject to the requirement to collect sales tax in that state.
International Tax Services
With our multi-national knowledge of international tax developments, our firm minimizes the tax burdens of our clients through relevant global tax strategies. We review income tax treaties to determine potential tax saving strategies and provide assistance in filing required information returns. We work with corporate clients in Canada, the United Kingdom, and Germany
Ambrosi Donahue Congdon provides a wide range of financial services to meet our clients’ needs. For businesses, we offer services such as bookkeeping or audit assistance and provide solutions to streamline your financial reporting. As part of the yearend closing, we have financial analysis software that can compare the performance of your company with prior years, as well as other companies in your industry, to give you an added perspective on your business. We have worked with a network of trusted bankers, attorneys, insurance agents and financial advisors for a number of years and they can give you options when faced with business decisions.
Working closely with attorneys and business owners, our professionals provide objective assessments of value in cases of mergers and acquisitions, Section 409A employee stock options, estate planning, stockholder disputes, and divorce. To provide business valuations that are compliant and defendable, we conduct thorough analyses of current market trends, economic conditions, and a company’s financial statements. Our firm has experience with independent valuations of intangible assets in situations where the company is audited by a national or international CPA firm.
Business Succession Planning
We work with clients to develop a plan for business succession, such as setting up the gifting or selling shares of company stock to a family member or current employee over a number of years. We also advise on the tax structure of transactions and address the concerns of the buyer and the seller in a strategic sale of the business. Additionally, we assist clients in creating incentive plans that ensure a company’s stability through the change of ownership.
For clients who prefer to outsource part-time bookkeeping services, such as bill paying, invoicing and reconciliation of accounts, we use the latest technology to ensure our clients have accurate and up-to-date financial information when they require it.
Quick Books Assistance
For clients who use QuickBooks to run their business, we work with their bookkeepers to improve reporting so they can make more timely and informed decisions.
Integrated Payroll Solutions
ADC, Inc., an affiliate of our firm, is a licensed provider of ADP Payroll Software services, where ADP assumes liability and responsibility for compliance with payroll return filing requirements. ADC offers a one-stop shopping approach for our clients.
Our credentialed professionals offer specialized analytical and due diligence skills required for business valuations, forensic accounting, and financial investigations in family matters and divorce situations. We work with clients and attorneys to minimize the cost of litigation and provide expert witness testimony to help build a case.
Estates and Trusts
With extensive experience in developing estate plans, we explore various ways to mitigate clients’ estate tax liability and help them set up trusts. Our firm prepares federal and state tax returns for grantor trusts, such as living trusts, special needs trusts, estate returns, and complex trusts. We are experienced in working with trustees and financial advisors in the tax preparation of trusts receiving complex K-1’s from publicly traded partnerships to investments in private equity funds and hedge funds. We also are experienced in working with ESBT’s and QSST’s.