Personal & Family | Business | Fiduciary | Forensic & Litigation

Personal & Family

We understand and are experienced at managing the unique challenges and needs that individuals and families face. Our personal and family professional services includes tax compliance and planning, estate, trust and gift planning and compliance and administration, charitable foundations, succession and transaction advisory for closely held businesses, bill pay, and a wide range of personal and family professional services. Whether you are seeking tax return preparation, year-round hands-on tax planning, projections and consultation, or have complex tax and financial situations requiring a firm with depth, experience and resources, we offer comprehensive solutions customized to the wide range of individual and family needs.

Personal & Family Services

+ Tax Preparation & Planning

Our firm’s team of skilled tax professionals are up-to-date with the latest tax laws and regulations and are experienced with tax planning and compliance for a wide range of client circumstances and reporting, from W-2s, self-employment and retirement and income, K-1’s and activity from closely held businesses, privately equity and hedge fund investments, brokerage accounts, equity and incentive based compensation, multi-state reporting, foreign income, foreign asset and foreign gift reporting, and more. Through proactive projection and planning, we aim to provide you with transparency into your tax liability and to tax savings opportunities when it matters so you can make more timely and informed decisions. Through the use of industry leading technology platforms and processes we are able to enhance the quality, timeliness and convenience of our tax services and security of your data.

+ Strategic Tax Advisory

From structuring and advising on specific transactions to more wholistic and long-term planning, we aim to understand your needs and objectives and provide strategic advisory and solutions that seek to account for tax efficiency, cash flow needs, financial, charitable and a wide range of considerations.

+ Estate, Trust, Wealth Preservation

Our fiduciary services provide individuals, families, fiduciaries and beneficiaries with independent and trusted professional expertise in all areas of estate, trust and wealth preservation matters, from Executor and Trustee services to fiduciary support, administration, and management, tax strategies, planning and preparation, reporting, accounting and advisory.

+ Family Office & Concierge

Working with individuals, families and their team of professionals to help manage and administer matters ranging from bill payment and banking, document management, budgeting, payroll for household employees, investment and philanthropic commitment tracking, reporting, record retention and customized personal services.

+ Bill Payment & Banking

Facilitate bank transfers and payment of approved invoices including credit cards, utilities, vendors, real estate taxes, income taxes, charitable contributions, and other personal disbursements.

+ Succession Planning for Closely Held Businesses

Whether you are transferring a closely held businesses to the next generation, bringing in a strategic partner, providing key employees with ownership or phantom equity, or pursuing a third party sale, our team of experienced professionals possesses the tax, accounting, finance and advisory expertise to help business owners evaluate, structure and execute a wide range of strategic transactions.

+ Personal Advisory

We are trusted advisors and confidants that can offer a unique perspective and depth of experience to a broad range of tax, accounting, financial, transactional and advisory matters.

Business

Business owners and entrepreneurs trust Shalik CPA, PC with their professional service needs and to serve as an important member of their management team. Through strategic tax planning, tax compliance, accounting, bookkeeping, reporting, bill pay, outsourced CFO, and management and advisory services, our comprehensive suite of business services are deigned to support and help our clients so they focus on what they do best - practice their craft, service their clients and customers, improve their products and services, and grow and run their business.

Business Services

+ Tax Preparation & Planning

Our firm’s team of skilled tax professionals is up-to-date with the latest tax laws and regulations and are experienced with tax planning and compliance matters for business entities in a wide range of industries. Through proactive projections and planning, we aim to provide you with transparency into your entity level tax liability and owner flow through income for business and personal planning and tax savings opportunities when it matters so you can make timely and informed business decisions. Through the use of industry leading technology platforms and processes we are able to enhance the quality, timeliness and convenience of our tax services and security of your data.

+ Strategic Advisory

From entity selection to structuring and advising on specific transactions to more wholistic and long-term planning, we aim to understand your business needs and objectives and provide strategic advisory and solutions that seek to account for tax efficiency, cash flow needs, financial, operating and a wide range of considerations to provide you support in making key business decisions.

+ Entity Selection & Formation

We help evaluate the optimal entity selection based on your operational, financial and business objectives and needs, from a limited liability company to a C Corporation, S Corporation and more, and assist with the requisite state and local filings and elections.

+ Financial Reporting & Analysis

Be on top of your organization’s financial results and financial position with timely, on demand standard and custom reporting. Every company is unique. Use custom designed reports to see results from operations the way you want to see them so that you can make.

+ Budgeting, Projections & Cash Flow Management

Budgeting and projections can be powerful tools in helping a business better execute its business plan and achieve its goals, foresee shortfalls and make necessary adjustments, manage cash flow and financing needs, improve controls, drive improvement and innovation, and help ensure that critical decisions are made in a more thoughtful and wholistic manner. Use projections to run what if analyses and understand the potential effect of various scenarios. At Shalik CPA PC, we can help execute this function and take it to the next level.

+ Lender Financing Support

We make the borrowing process understandable, working with you to determine financing requirements to fund operations, equipment purchases, projects, growth and more. We develop financing packages to be provided to prospective lenders, help educate banks as to the unique nature of your business, its operations and cycles, assist in negotiations including loan covenants, and prepare reporting required to remain in compliance.

+ Investor Reporting

Keep investors informed with professional, timely and easy to understand reports on results from operating companies to investment ventures.

+ Accounting & ERP System Evaluation

Enterprise software is getting increasingly sophisticated and industry specific. Many accounting packages now provide the functionality of an Enterprise Resource Planning (ERP) system that integrates and automates various processes across your organization from Human Resources, shipping and receiving, inventory management including integration with drop shippers, accounts receivable, accounts payable, automated sales tax tracking and reporting that incorporates new State nexus rules under the Wayfair Supreme Court decision, and more. These modern systems provide businesses with enhanced control and tools, helping maximize integration, efficiency and profitability while saving time. We work with businesses to help evaluate software packages to determine the appropriateness of the system for their business and operations and identify ways to best implement these systems.

+ Financial Statement Preparation

We prepare financial statements in accordance with the latest guidelines and professional standards for businesses in a wide range of industries for internal and external reporting purposes.

+ Review Contracts

We review contracts and agreements for financial, tax, business risk and opportunities to your organization.

+ Employee Incentive Compensation Packages

Attract staff and retain and promote key members of your team through thoughtfully structured employee incentive compensation packages that are responsive to the employee and the company’s needs and objectives. We assist with drafting offer letters, working with your attorneys to craft the financial and business aspects of employment agreements, perform compliance and projections, and more.

+ M&A and Transaction Advisory

We combine finance, accounting and advisory expertise to help evaluate, structure and execute strategic transactions from buying or selling a business or business unit, adding or buying out a partner or shareholder, expanding to add a new location, or starting a new venture. Our transaction services include underwriting, due diligence, financial projections, review of financial statements, records and operations of the incoming company including identifying areas of cost savings and opportunities, term sheet preparation and review, offering memorandum preparation and review, review of the financial and business aspects of contracts and agreements in coordination with your attorney, and more. Once a transaction is consummated, we offer follow through services including supporting and managing the integration of the new business unit into your existing operations.

+ Bookkeeping

Outsource the recording of transactions to your accounting system to our experienced bookkeeping professionals. Bookkeeping services include:

Bank reconciliations
Customer invoicing and receivable management
Bill payment and accounts payable management
Payroll processing and tax filings

+ Customer Invoicing

Improve cash flow and reduce time spent on customer invoicing though outsourced managed electronic customer billing, collection and accounts receivable.

+ Bill Payment & Banking

Simplify and reduce time spent on bill payment and banking through an outsourced, trusted and managed solution.

+ Payroll Processing and Tax Filings

We partner with Intuit Quickbooks Payroll to provide our clients with the most cost effective and 100% guaranteed solution to their payroll processing and tax filing needs. You will have access at all times to a payroll specialist, online reports, and HR resources such as employer requirements and new hire onboarding documents so that you can take the complexity out of payroll and focus on your business.

Fiduciary Services

+ Trustee & Executorship Services

We understand the importance that individuals place on having an experienced, independent and impartial professional serve as an Executor or Trustee to ensure that the Estate or Trust are properly administered and that the provisions of the Will or Trust instrument are faithfully carried out. We are uniquely qualified to serve as independent and trusted Executors and Trustees and provide support services to existing Executors and Trustees. We are experienced with Estate and Trust administration, tax compliance, beneficiary reporting, fiduciary accountings, working with financial advisors and other professionals and more.

+ Tax Compliance & Planning

Our team of skilled tax professionals are up-to-date with the latest estate and trust tax laws and regulations and are experienced with tax planning and compliance matters for estates and a wide range of trust structures. Through proactive projection and planning, we aim to provide you with transparency into the tax liability for the Trust and for its individual beneficiaries and Grantors for personal planning and tax savings opportunities when it matters so you can make timely and informed decisions impacting your tax position and tax savings opportunities. Through the use of industry leading technology platforms and processes we are able to enhance the quality, timeliness and convenience of our tax services and security of your data.

+ Strategic Tax Advisory

We work with you and your legal representative in developing an overall Estate and Trust plan, advising on key provisions in Estate and Trust documents, advising on the tax and financial aspects of Trust selection and asset transfers and performing complex calculations. We aim to understand your Estate and Trust needs and objectives on a comprehensive basis and provide strategic advisory and solutions that seek to account for tax efficiency, asset and wealth protection, philanthropic objectives, cash flow, financial, operating and a wide range of considerations to provide you support in making key strategic decisions.

+ Surrogate’s Court & Fiduciary Accountings

Fiduciaries of Estates and Trusts may be required to furnish fiduciary accountings to the Surrogate’s Court or to beneficiaries or other interested parties reporting the assets, liabilities, activity and other information relating to the Estate or Trust. Fiduciary accountings are prepared in accordance with a unique set of accounting rules specific Estates and Trusts in the jurisdictions in which they are governed. We are experienced with fiduciary accountings required under Wills and Trust instruments and in contentious and non-contentious matters, working with fiduciaries, beneficiaries and legal representatives to ensure accurate reporting and to assist fiduciaries with discharging their administrative and legal obligations.

Forensic & Litigation Services

+ Matrimonial Matters

We work with clients, their legal teams and outside professionals including valuation specialists with tax, accounting, financial, forensic and other matters in connection with matrimonial disputes.

+ Litigation Support

Providing assistance to attorneys and law firms in connection with litigations, including developing document and information requests, deposition and interrogatory questions, review of financial, accounting, and tax records and other documentation.

+ Expert Witness

Providing expert witness services with respect to tax, accounting, financial and business matters in a wide range of personal and business disputes and insurance claims.

+ Insurance Company Claims

Claim evaluation, advisory, accounting, document review, and reports to insurance companies in connection with first-party and third-party claims including business interruption, workers’ compensation, loss of income, future loss of income and theft loss.

+ Business Disputes

Disputes between partners, shareholders, management, and investors including contract compliance, reporting, reconstructing, analysis of the books and records.