Tax Services

We believe in a proactive rather than a reactive approach to tax services.  By remaining abreast of the latest tax laws and legislation, we can 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.  Our tax services include:

• Tax planning & return preparation
  1. Individuals
  2. Corporations
  3. Partnerships
  4. LLCs/LLPs
  5. Estates, trusts & gifts
  6. Not-for-profit organizations
• Taxing authority representation
• Divorce and support issues
• Tax effects of buying/selling a business
• Prepare current and prior-year FBAR forms
• Assist with Offshore Voluntary Disclosure Program (OVDP), including referral to a qualified and experienced tax attorney
• File for recognition or reinstatement of tax exempt status for nonprofit organizations

International Taxation

We have significant experience with the taxation of U.S residents working abroad and foreign citizens working in the U.S.  This provides us with a unique and invaluable working knowledge in international taxation.

Payroll Services

As your business grows, you need to hire more employees which can result in increased payroll administration.  Our team can assist you with implementing the controls necessary to ensure a reliable, efficient, and effective payroll system.  Updegrove McDaniel McMullen & Chiccehitto, PLC can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.

Accounting Services

Our team is dedicated to providing financial information to our clients in a timely and accurate manner.  Meaningful, well-organized financial records ensure that your business operations run more efficiently on a daily basis.  Our comprehensive scope of cost-effective accounting services includes:

• General ledger & financial statement preparation
• Bookkeeping (Monthly/Quarterly/Annually)
• Accounting system setup for new businesses
• Payroll services
• Personal financial statements

Bookkeeping/ Write-Up

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and serve as the foundation of a successful business.  Our highly qualified team members can assist you with your day-to-day bookkeeping tasks.

Cash Flow and Budget Analysis

A business can be profitable and still encounter difficulty due to cash flow issues.  Our team can forecast and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses.  This insight is extremely beneficial to the health of your business.

Financial Strategic Planning Services

The personal and business success of our clients is of paramount importance to us.  Put our knowledge and expertise to work for your success.  We can identify areas that are negatively affecting profitability and growth and develop practical and technically sound solutions for you.  In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the unique issues affecting your business. The following are just a few of the areas in which we deliver value-driven financial strategic planning services:

• Accounting software selection and implementation
• Type of entity selection
• Buying/selling a business
• Computer systems
• Financial & retirement decisions
• Estate, trust & gift planning

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.

Retirement Planning

Successful implementation and periodic review of your financial plan ensures financial independence during your working years and throughout your retirement years.

Business Consulting

The personal and business success of our clients serves as the gauge of our worth.  We are dedicated to providing the services you need to facilitate your success and prosperity.  We can help your business identify areas negatively affecting profitability and growth and develop practical and technically sound solutions.  By serving as a sounding board for management–we provide comprehensive, flexible strategies that address the specific issues that are affecting your business.

Other Services

We address a vast array of financial and tax issues as a result of our diverse client base.  Our valuable experience in numerous specialized areas and dedication to unmatched client service qualifies us to provide services pertaining to:

• Mergers & acquisitions
• Asset protection
• Investment review
• Bankruptcies
• Cash flow forecasting
• Internet commerce

Debt and Financing Services

Debt management and the evaluation of financing options are issues that an experienced finance professional deals with every day. Let us use our experience to assist you in securing financing for your personal or business needs or consolidating your current debt to a more manageable level.

Asset Protection

Asset protection, or wealth preservation, plans make the enforcement of judgments against protected assets nearly impossible and allow the owner of protected assets to retain substantial control over these assets.  Updegrove McDaniel McMullen & Chiccehitto, PLC can assist you with an asset protection plan that may include family limited partnerships, or offshore trusts.  We help you protect what is yours.