Privately-Held Businesses

Privately-Held Businesses

Closely-held businesses face unique concerns and accounting requirements that differ from those encountered by larger companies. Often times, the finances of the business and the family are highly entwined and the business typically represents a large share of the family’s wealth and future security.

For these reasons, it’s essential that you work with a CPA that understands the importance of those relationships and the unique set of skills required. For more than 25 years, our team of professionals has been helping emerging, growing and mature closely-held businesses work through complicated business issues and challenges.

Strategic planning for privately-held businesses is absolutely crucial to ensuring their success. We’ve worked with many of our privately-held business clients through multiple generations, approaching business decisions with the same level of commitment as that of the management team.

Our goal is to build a long-lasting, trusting relationship so our clients feel comfortable asking us any question or approaching us with any obstacle. We offer a comprehensive set of services that help our clients throughout the entire business life cycle, from formation and entity selection, through expansion and acquisitions, to tax and succession planning.

Resources

Richey May is committed to staying on top of current trends and hot topics within your industry. As part of that commitment, we offer a number of resources to help our clients stay ahead of the competition.

  • Should Your Company Rehire Workers?

    It is difficult to find good workers and often even tougher to keep them. That is why you might entertain the idea of rehiring someone who left the business and is now hoping to return. However, this scenario is not without potential pitfalls, especially if you encountered problems with the worker the first time around.

     

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  • Who Needs a Buy-Sell Agreement?

    A buy–sell agreement can be immediately beneficial to a business owner contemplating a sale of the operation. What’s more, it can provide significant benefits even if you plan to keep a business interest and eventually pass it to the younger generation.

     

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  • Seven Warning Signs of Detecting Fraud

    Workplace fraud is a legitimate threat around the country. Recent estimates of the cost of employee theft and fraud to U.S. businesses range from $20 billion to $50 billion a year. No business, regardless of size or nature, appears
    immune.

     

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  • Home Based Business Tax Resources

    Home based businesses can encounter a variety of tax opportunities, as well as, various tax obstacles. Proper tax planning is key in taking advantage of these opportunities and in minimizing the potential consequences that can occur.

     

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Industry Services

  • Audits, reviews, compilations, agreed upon procedures and other assurance services
  • Federal and multi-state tax planning and minimization
  • Operational Reviews
  • Estate and Gift Tax Planning
  • Due Diligence
  • Financial Accounting Transactions
  • Business and strategic planning
  • Buy-Sell Agreements
  • Succession Planning
  • Business Valuations

 

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