| William Vaughan Company is your local source for practical and proven business solutions customized to fit your unique business needs. Below we have listed the services that we offer to our clients along with a brief description. As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional. |
|||
| (Click Service Title For Details) |
| Accounting Software Selection & Implementation |
| With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you and your growing business has become increasingly difficult. As accounting professionals, we are exposed to a variety of programs through actual use. Our experienced information system specialists can help you choose, implement and support the system that best fits your needs. |
 |
| Agribusiness Focus |
| Agribusiness owners and managers face a variety of challenges and opportunities unique to their industries. Top of the list: constantly changing revenues and expenses, influenced by weather and growing conditions, as well as fluctuating prices for inputs and products. William Vaughan Company’s team of CPAs and business advisors can provide the financial planning and tax consulting services needed to help make your farm and agribusiness flourish. Ask our financial professionals about: • Preparation of audited, reviewed and compiled financial statements • Entity selections for operating and real estate holding businesses • Estate planning and succession planning • Market valuation and budgeting • Specialized tax options related to: – Farm income averaging – Self-employment tax on farm rental income – Commodity payments as part of wages – Section 1031 like-kind exchanges on land and equipment – Installment sales reporting – Depreciation and expensing options – Cash method expensing elections – Conservation easements and donations – Retirement planning options – Section 199 qualified production activities deduction |
|
| Audits, Reviews and Compilations |
| William Vaughan Company provides traditional financial reporting with audited, reviewed, or compiled financial statements. Audits differ from reviews and compilations, as they are an intensive examination of your company's systems and records providing the highest level of assurance. A review consists of some analytical procedures conducted with limited assurance. A compilation is based upon client information provided and used primarily for internal use. We always look beyond the numbers and try to help our clients gain a clear understanding of the financial reports and how the numbers help them achieve their financial goals. |
|
| Business Consulting |
| We gauge our worth by the personal and business successes of our clients. We are able to guide our consulting clients to greater prosperity by becoming part of the management team and assisting them in the decision making process. Our team identifies the core issues in a company and we can develop the appropriate strategies and systems needed for effective implementation. |
|
| Business Entity Selection |
| Choosing the form of entity of your business (e.g. "S" corporation, sole proprietor, limited liability company…) 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 your company. |
|
| 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. |
|
| Business Valuations |
| Knowing the current, accurate value of your business – no matter the perceived need for it – will help your business survive and prosper. Whether you are thinking of buying a new business, selling an existing one, or are in the midst of a difficult divorce, the amount attached to the value of your business is important. William Vaughan Company’s Certified Valuation Analysts can provide a concrete value to be used for your business no matter the circumstances: • Estate and gift tax planning • Divorce proceedings • Purchase or sale of your business • Shareholder disputes • Succession planning • Tax planning • Built-in gains William Vaughan Company’s staff of CPAs and business advisors will show you how understanding the value of your business will pay tangible dividends by focusing on ways to increase your firm’s short- and long-term profitability. |
|
| 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 team members have experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations. |
|
| Cash Flow & Budgeting Analysis |
| A business can be profitable and still run into trouble due to cash flow issues. Cash flow and net income are not the same thing. We can forecast and evaluate your company's financial condition, estimate financing requirements, and track cash-flow sources and uses. |
|
| Client Accounting Services (Bookkeeping) |
| William Vaughan Company is efficiently structured to provide clients with routine bookkeeping and accounting services, and assist in the development of new accounting systems. By working closely with business owners and client administrative staff, our knowledgeable accountants become an extension of your financial team. We will readily supply monthly, quarterly, or annual financial reports, and assist with general tax and financial matters. Whether you require periodic or ongoing accounting outsourcing, William Vaughan Company’s professional staff will improve your total financial well-being. Ask our financial professionals and business advisors about: • designing and implementing financial systems • preparing budgets and forecasts • analyzing cash flow • preparing for an external audit • evaluating, designing, and implementing internal controls • conducting internal audits • bill-paying services • designing and managing computer systems • financial planning for personal wealth |
|
| Computer Consulting |
| Whether you are contemplating the addition of new computer hardware or overhauling your network, our information system specilists can assist you with many of the difficult decisions that must be made when designing your business' computer systems. |
|
| Construction and Real Estate Focus |
| In the construction and real estate industries, change is a constant. How will a tough economy influence profit margins, rising insurance costs and the longevity of your business? William Vaughan Company CPAs are specialists. Our industry-specific knowledge and experience takes you beyond basic tax planning and compliance to develop financial and business strategies that will help you get where you want to be in life. Ask our financial professionals and business advisors about: • Like-kind exchanges of property • Assistance in arranging financing • Entity selection, including entering and exiting various types of entities • Business valuations for entity sale or admission of a new owner • Choice and operation of proper accounting methods for construction and real estate activities, including proper transaction recording.
|
|
| 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. |
|
| Employee Benefit Plans |
| Let us help you ensure regulatory compliance and learn about operational efficiencies through intuitive plan audits and consulting services As the annual accounting and reporting requirements for employee benefit plans increase in complexity and plans face greater scrutiny by the U.S. Department of Labor and the IRS, knowledgeable companies turn to experienced professionals who excel at employee benefit plan audits. Well-recognized for quality and expertise, William Vaughan Company provides the resources, training and continuing education that are essential to guarantee that every professional in our highly specialized Employee Benefit Plan Audit Practice delivers a thorough and valuable audit. Knowledgeable in ERISA, Department of Labor, and IRS regulations, our team audits numerous qualified benefit plans, defined benefit, defined contribution and welfare benefit plans. As a member of the American Institute of Certified Public Accountants’ Employee Benefit Plan Audit Quality Center, William Vaughan Company will leverage best practices and quality standards on your behalf. Our skilled audit and ERISA specialists deliver: • Cost-effective, full- and limited-scope financial statement audits and 5500 preparation. • Practical recommendations for operational and administrative improvements to plans. • Consulting related to plan design advantages, optimization and overall compliance with operational rules. |
|
| Estate & Trust Tax Preparation |
| 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. William Vaughan Company can guide you through the complex process of getting your financial affairs in order. |
|
| Estate Planning |
| Effective estate planning facilitates the orderly transfer of assets to beneficiaries, provides security for the surviving spouse, and can reduce or eliminate the tax due on the transfer of a business and other assets. For business owners, providing for business continuity and succession of ownership is essential. William Vaughan Company can guide you through the complex process of getting your financial affairs in order. Estate planning should be addressed well before death to assure the best results. Ever-changing laws and regulations make estate planning a dynamic field, involving a variety of planning priorities and opportunities. William Vaughan Company CPAs work in conjunction with your attorney to develop a comprehensive estate plan. Together, our mission is to provide for a smooth transition of all assets, adequate resources for the surviving spouse – as well as minimum estate taxes and probate costs. Regardless of the size of the estate, we can help you put together a plan that will allow your assets to end up where you want them and in the most efficient and least costly manner. Ask our financial professionals and business advisors about: • Tax planning and preparation for individuals, trusts and estates • Business valuation services • Succession planning services • Estate planning services • Education planning • LifeRecords organizer • Long-term care planning • Family Limited Partnerships |
|
| Financial Forecasts & Projections |
| Financial forecasts and projections are essential to managing your business effectively and measuring profitability. Preparing these financial projections can be an overwhelming task when you have limited experience. William Vaughan Company has the expertise to assist you with various analysis tools to provide the foundation for a detailed and meaningful financial forecast. |
|
| Fraud Prevention & Detection |
| William Vaughan Company has extensive experience in the fraud arena. We can help identify the vulnerable areas within your company where fraud schemes can occur. If fraud has already occurred, we can identify the extent, provide documentation for the insurance carrier or law enforcement agency, and give expert witness testimony as needed. In addition, our anonymous reporting website (www.EndFraudNow.com) and toll-free fraud hotline number 888-725-1401 is available to clients to report suspicious activity in their company or organization. |
|
| Healthcare Focus |
| Just as your patients trust you with their personal health, you can count on William Vaughan Company’s dedicated team of CPAs and business advisors to nurture your financial well-being. Our healthcare business specialists are experts in the areas of audit, tax strategy and accounting and represent the largest number of multi-physician practices in northwest Ohio. Physicians, dentists and myriad healthcare professionals rely on William Vaughan Company to help them develop financial and business strategies, tax savings options, and retirement and estate plans so they can reach their personal and professional goals. Simply put, William Vaughan Company’s services are designed to simplify the process of getting where you want to be in life. Ask our financial professionals about: • Accounting and bookkeeping/payroll services • Practice management consulting • Cash flow, cost and budgeting analysis • Business valuation services • Merger and acquisition consulting • Tax planning and preparation • Benchmarking and industry statistics • Physician Compensation Agreements • Buy/Sell Agreements • Estate planning services • Retirement planning services |
|
| IRS Representation |
| During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies. |
|
| Insurance and Finance Industry Focus |
| Daily, insurance and finance professionals and business owners manage the challenges associated with changing economic conditions, increased competition, new and evolving regulations, technology enhancements and complicated tax regulations. Because we understand these unique challenges and opportunities, William Vaughan Company’s team of experienced CPAs and accounting professionals can help you protect your business investment and achieve your business and personal financial goals. Ask our financial professionals and business advisors about: • Business strategy planning and implementation • Product diversification analysis • Generation of new business and retention of current clients • Break even analysis by product and product line • Cash flow and budgeting evaluation and solutions • Business valuations • Succession planning • Retirement and estate planning • Financial reporting • Tax planning, consulting and preparation |
|
| International Affiliations |
| We are affiliated with Enterprise Worldwide - a network of accounting firms throughout the world. For more information, check out Links - Professional Contacts. |
|
| 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 business' future growth and success. |
|
| Manufacturing and Distribution Industry Focus |
| As a manufacturing or distribution firm, you’re faced with an increasingly competitive, global marketplace. Vertical integration, supply chain management, labor shrinkage, technology advancements, governmental regulations and environmental concerns—and countless other issues and constraints—keep your hands busy as you manage the production and distribution process from start to finish. William Vaughan Company’s team of CPAs and accounting professionals can help you process your operational results to stay competitive in an ever-changing environment, identifying value-added opportunities and operational constraints. Ask our financial professionals and business advisors about: • Cost accounting: costing methods, overhead allocations, inventory analysis and management • Tax inventory elections • Globalization: foreign taxation, cost control, and price competition • Cost segregations studies to identify building and improvement costs for which depreciation can be accelerated • Health and safety regulations • Immigration reform • Small business health, benefit, and retirement plans • Research and development expenditures and tax credits • Enterprise Zone Agreements and other federal, state, and local tax incentives • Manufacturing grants and credits • State and local taxation nexus issues • Mergers and acquisitions • Business valuation services • Succession planning |
|
| Mergers & Acquisitions |
| William Vaughan Company 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. |
|
| Nonprofit Focus |
| With decades of experience under our belt, William Vaughan Company leads other firms in providing accounting, tax and consulting services to nonprofit organizations that receive private, public and governmental funding. William Vaughan Company’s team of CPAs and business advisors is well-versed in the unique operational controls, policies and procedures, financial reporting, business and tax issues nonprofit organizations encounter. Confidence in the accountability of operations and reporting of financial conditions is critical. Likewise, increasing competition for funding, evolving technology, and changing regulations also present challenges to nonprofit staff executives, committees and board members. Ask our financial professionals how we can help you with: • Development and analysis of internal control policies and procedures • Preparation of audited, reviewed and compiled financial statements • Specialized financial statement audits that meet the requirements of Government Auditing Standards and U.S. Office of Management and Budget Circular A-133 • Unrelated Business Income Tax (UBIT) • Special event income and expense, fundraising, sponsorships, treatment of contributed goods and services • Financial strategies that facilitate short- and long-term business goals and provide for longevity of the organization • Board and committee development |
|
| Payroll Services |
| William Vaughan Company can assist you through each phase of the payroll tax process. We can register you with the appropriate tax authorities and assist you in developing a payroll system that is efficient for your business. Or, if you prefer, we can process all of your payroll and prepare your applicable payroll returns on your behalf. |
|
| Pension & Profit Sharing Plans |
| Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs…) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified team members can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees. |
|
| Professional Service Business Focus |
| Helping you protect your business investment – and achieve financial goals Professional services firms are complex and competitive by nature. An intimate understanding of these diverse business models make William Vaughan Company’s team of CPAs and business advisors experienced in the industries of law, engineering, architecture, accounting, actuarial science, consulting and a variety of other specialized, professional service businesses. We help you develop financial and business strategies, tax savings options, and retirement and estate plans that will help you reach your personal and professional goals. Ask our financial professionals and business advisors about: • Bookkeeping and financial reporting • Entity form consulting • Accounting methods and reporting periods • Passive activity issues • Qualified and non-qualified benefit plans • Insurance/benefits consulting; health, disability, life, liability • Compensation consulting • Cash flow and budgeting analysis • Business valuation services • Succession, estate and retirement planning • Tax planning and preparation • Wealth management |
|
| Restaurant and Hospitality Industry Focus |
| Restaurant owners’ plates are always full, providing exceptional service and quality standards plus a top-notch dining experience for their customers. Often, back-of-the-house issues like employment challenges, financial and business management, and new industry legislation distract you from what you do best. William Vaughan Company offers specialized restaurant and hospitality industry experience. We understand the challenges currently facing the restaurant industry, including the increased minimum wage, rising food costs and economic pressures. William Vaughan Company's professionals can help your business to thrive despite these challenges. Ask our financial professionals and business advisors about: • Minimum wage requirements • Reporting tip income • Business meal deductibility • The Work Opportunity Tax Credit (WOTC) • The Welfare-to-Work Tax Credit (WTWC) • Small business health plans • Estate tax repeal • Restaurant depreciation • Cost segregations studies to identify building and improvement costs for which depreciation can be accelerated • Increased use of information technology, including internet transactions |
|
| Retirement Planning |
| Planning for your future retirement is an essential part of your overall financial plan. We can assist you in determining the tax implications of decided investments and provide support to others including financial planners and attorneys. |
|
| Sales Tax Services |
| Most businesses are responsible for sales or use tax at some point. The sales tax rules vary greatly among manufacturing entities, construction contractors, retailers, and countless others. Our team members have expertise in many of these detailed areas and have also specialized in performing internal sales tax audits to determine compliance levels. We can assist your company in the preparation of sales and use tax returns and representation in the event of an audit. |
|
| Tax Planning |
| Tax planning is an integral element of the overall tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities. |
|
| Tax Preparation |
| Our significant investment in computerized tax preparation and online research capabilities enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations. |
|
| Trucking Industry Focus |
| Independent owner/operators and full-service trucking operations work daily to increase efficiency, streamline operations, improve customer service and lower costs. With these demands top-of-mind, you may feel like your personal and professional financial goals are stuck in neutral. William Vaughan Company’s team of CPA trucking industry specialists will help you move your business into overdrive. Ask our financial professionals and business advisors about: • Governmental compliance matters • Tax planning • Tax return preparation and consulting • Lease vs. buy analysis • Financing issues • Workers’ compensation rate reduction • Business entity structuring William Vaughan Company also hosts free, educational trucking industry seminars where guest speakers – including government representatives and other small business advocates – provide valuable information that can help propel your business forward. |
|