Correll & Associates’ foundation for being among your most important, constructive advisors is the broad scope of our clients and the industries they come from.  When you consider hiring an accountant, it’s wise to evaluate whether he or she has the experience or knowledge to offer you cross-pollinated ideas. 

The best in every profession look for ways to give their clients advantages in the marketplace.  They interpret rules and seek to find best practices that allow clients to shine.  They’re passionate about looking beyond what’s in front of them.

If you consider most of the great inventions or industrial innovations, you’ll find most were created by people who were able to connect ideas from different disciplines.  These hybrid concepts translated into new horizons and incredible successes. 

Our client list reflects a range of expertise almost as vast as the diversity of the economy: 

Accounting Services

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Audits, Reviews and Compilations

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:

• Audit- an intensive examination with the highest level of assurance
• Review - some analytical procedures conducted with limited assurance
• Compilation - based upon client information provided and used primarily for internal use.

Accounting Services

Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:

• General ledger & financial statement preparation
• Bookkeeping (Monthly/Quarterly/Annual)
• Accounting system setup for new businesses
• Payroll assistance
• Business tax return preparation

We are Quickbooks Professional Advisors.

Tax Services

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Tax Services

We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to:

• Tax planning & return preparation
- Individuals - Corporations - Partnerships - LLCs/LLPs - Estates, trusts & gift - Not-for-profit organizations
• Taxing authority representation
• Divorce and support issues
• Tax effects of buying/selling a business

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. We can guide you through the complex process of getting your financial affairs in order.

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.

Consulting Services

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Business Consulting

We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.

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

Whether you are thinking of buying a new business or in the midst of a difficult divorce, the amount attached to the value of your business is important. We can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest.

Estate Planning

Effective estate 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. We can guide you through the complex process of getting your financial affairs in order.

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 staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.

Retirement Planning

Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.

Miscellaneous

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Law Firm Consulting

Correll & Associates provides deeper insight into the business of law.  Law firms are unique enterprises.  Correll has over 30 years of knowledge and understanding to deliver a spectrum of services to law firms of all sizes and specialties.

This service goes well beyond the accounting and tax needs of the typical law firm. We know the business side of the practice of law and we help our clients run efficient business operations.

Whether it’s budgeting, partner issues, retirement planning or tax planning, we partner with you to make your operation as efficient as possible. 

Here is a partial list of the services we provide to our law firm clients:

Home Health Care

Correll Associates provides general accounting as well as specialized services to the home health care industry.  Our team is lead by an individual with over 25 years of experience in all aspects of home care including Medicare agencies, medical equipment suppliers, private duty services and hospice.  We are able to support our clients with bookkeeping, accounting, tax and cost reporting services and to act as their offsite CFO.  Our standardized chart of accounts for reporting revenue and expenses in the general ledger enables our clients to track performance by product line and discipline within the individual product lines.

Annually, we publish a book marking study for certified home care industry.  This study evaluates each of our client agenciesfinancial performance afgainst an extensive database.  We share episode information including avarage revenue generated, number of visits by discipline and episode margin.  Comparisons of administrative costs are included as well.  This infromation provides our clients with the opportunity to identify areas for quality and financial performance improvement.

Correll Assocaites is also available to help our clients evaluate the integrated software that enables field staff to record their medical findings and the administrative staff to bill for those services. The selection of balanced software that can efficiently perform both tasks is vitally important.

Litigation Services

When you encounter a legal challenge requiring in-depth technical judgment, look no further than Correll & Associates.  We established our vibrant litigation practice more than 20 years ago. 

We assist clients, legal experts, courts and juries in navigating the technical landscape of civil and forensic accounting cases.  Elements of such projects include sorting business valuations, calculating damages, and conducting audit investigations.  When your livelihood is on the line, you can’t just trust someone who says they can do this sort of work… make sure they’ve done this sort of work!