CPA professional services
Summit Financial Services offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients enjoy the benefit of personalized, quality service.
You will see below a list of some of the services, along with a brief description, that we offer to our clients. It is by no means all-inclusive, so feel free to inquire about any service if you do not see it listed. If it is not a service that we offer, we will be happy to refer you to a qualified professional who can provide it.
1. Compiled business and individual financial statements
Compilation: The minimum level of service that an accountant can provide before submitting financial information of a nonpublic entity to a client or third party (such as a bank). A compilation is limited to presenting (in the form of financial statements and supplemental schedules) information that is the representation of management or the owner of a company. A CPA does not "audit" or "review" information in the prepared financial statements and/or supplemental schedules. Therefore, a CPA does not express an opinion or any other form of assurance on the financial statements or supplemental schedules. The CPA simply compiles and reports data provided to them by their client.
2. Reviewed business and individual financial statements
Review: A "review" involves more work and analysis than a compilation. Similar to a compilation, a review presents (in the form of financial statements and supplemental schedules) information that is the representation of management or the owner of the company. However, a review will result in further work, such as inquiries of company personnel and analytical procedures applied to the financial data. This type of engagement is substantially less in scope than an "audit" of financial data. Therefore in a "review" engagement (with the limited scope of work performed), a CPA does not express an opinion on the financial information or reports.
3. Income tax audit representation
We understand how intimidating it can be when a client is faced with an examination by the IRS. Our experience in representing clients before the IRS can alleviate your fears and concerns if you are selected for examination. We can help by dealing directly with IRS agents as well as by collecting and organizing any requested information. We have access to the same research sources used by the IRS to justify their position and can assist you in strengthening your case. We also have expertise in the appeals process should an unfair result come from your examination.
Our services also include full representation before state tax agencies, so if similar issues arise for state tax filings, we have the skilled resources to offer you competent representation that will help you negotiate a fair resolution.
4. Tax collection representation
When someone is faced with a tax collection issue with the IRS, it can be a difficult situation. Our experience in representation before the IRS can alleviate your fears and concerns if you have unpaid taxes. We can help by dealing directly with IRS in a variety of situations:
Installment agreements
Offers in compromise
Innocent spouse relief
Levies, liens and seizures