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Correll  Associates

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General Accounting Services    Law Firm Consulting

Litigation Services                          Manufacturing  

Tax Services                                     Retirement Planning

 

General Accounting Services 

Correll Associates provides a range of accounting, auditing and financial counseling services to small and mid-sized business and organizations.  Audits, reviews, and compilations are available to provide various levels of financial statement verification. Correll Associates are members of Quickbooks Professional Advisors and assist many small businesses with bookkeeping assistance from data entry and bank reconciliations to generating reports necessary to assist business owners in reviewing their operations and making key business decisions.

 All accounting firms offer traditional service categories.  Most qualified accountants can explain your position according to rules and regulations, following a traditional balance sheet format.  

 Correll & Associates stands apart from the crowd with its consulting offer.   Whether these interactions take place during a scheduled appointment or a casual tangent to another matter, you will find that our insight will propel you to extraordinary heights.  We help you with regulatory interpretations, financial strategies and practical cross-industry experience that are second to none. 

 The reason Correll clients look to us as part of their inner circle is that we provide advice that accelerates decisions.  The trick is to respond to change, not react to it.  In a competitive landscape, you need every advantage.  You need trusted advisors you can count on for penetrating analysis and sound judgment.

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Law Firm Consulting
 

Correll & Associates provides deeper insight into the business of law.  Law firms are unique enterprises.  Correll has 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, billing systems, practice valuation 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:

Accounting and Time & Billing Systems
Billing and Collections
Budgeting
Cash Management
Financial Forecasts and Projections
Firm Capitalization (see article)
Litigation Support Services
Mergers, Acquisitions  & Sales
New Firm Start-ups
Partner Compensation and Income Distribution
Profitability Improvement Analysis
Practice Valuations
Partner Buy-Ins and Buy-Outs
Retirement Planning
Tax Planning
Tax Issues (including client costs advanced)
Unfunded Partner Retirement Plans

Contacts:

     
       Paul Evancho 

 
      Kay Carney,

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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!

Correll has established a strong reputation in intellectual property cases. We are living in an era where traditional measures of value – land, labor and capital – are only a part of the equation.  Increasingly, the value of something is determined by what someone thinks.  Make sure your inventions, concepts and ideas are properly protected.

Contact:
      
         Bruce Correll

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Manufacturing

The Detroit area is rich with manufacturing know-how.  While many may express concern about the fortunes of the American auto industry, many foreign competitors are locating their research and development facilities in the Metro area to take advantage of our deep engineering strength. 

Manufacturing has gone global.  Most of the high-margin manufacturing enterprises are in the United States, with many in the Detroit area.  These companies have established specific niches that require specific accounting expertise and understanding.  We service many manufacturers with high-quality tax, accounting, and auditing assistance.  More importantly, we share financial advice to benefit decisions about capital investments, pricing and costing, and other production concerns.

Contact:
     
    Vince Morgante

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Retirement Plans:

Correll Associates assists businesses and self-employed individuals in evaluating needs and advising on retirement planning choices.   We provide tax preparation as well as audit services for all retirement plans.  Knowledge and trust are critical when looking at corporate and personal benefits.  You can trust Correll to strike a clear path through the confusion.

We help businesses with both tax planning and tax preparation services for the full range of retirement plans, including pension plans, profit sharing plans, 401(k) plans, SIMPLE and SEP plans. 

We assist individuals with both traditional and Roth IRAs.  Clients routinely look to us for assistance with issues such as rollovers, minimum distribution requirements and contributions limits.

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Tax Services

Taxes are taxes.  They’re not terribly fun to consider, and become worse when you don’t know all the details and implications that affect you.  When you’re with Correll, you work with a firm that understands the tax code and pays attention to annual changes. 

Regardless of whether you’re a business or an individual tax client, our objective is to uncover your financial goals and minimize your tax exposure.  We are available to assist you year-round regarding tax planning issues on both a business and personal level.  

We provide tax planning and preparation services to individuals and all types of business entities.  We assist start-up businesses with entity selection and all the necessary registration forms and assistance to get up and running quickly and smoothly.  We have expertise with corporations, partnerships, LLCs, trusts, estates, state and local taxes, multi-state tax planning and preparation and IRS audit representation.

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