Consulting

As a business owner, there is an excellent chance that at some point you are going to need, perhaps even want, a business valuation. There are different levels of valuations that you can obtain, from verbal reports to full conclusions of value that consider all the valuation methods, including the asset approach, the market approach and the income approach. There are a number of reasons to obtain a valuation from a Certified Valuation Analyst.

Tax Related Issues – It is prudent to obtain a certified valuation, following Revenue Ruling 59-60, for submission to the Internal Revenue Service (IRS) with the Estate or Gift tax return. The IRS has very stringent regulations on how valuations are to be performed and what elements are to be included. An independent valuation substantiates the tax calculation for the IRS and minimizes your risk in the event of an examination.

Other important tax areas include transfers of ownership and C to S corporation conversions. For companies holding appreciated assets, it is often most desirable to elect to convert to an S corporation for flow-through tax purposes. Upon conversion, it is important to have a certified valuation of the business prepared. If the business or its assets are sold prior to the ten year holding period, there is a tax due on the built-in gain of value from the date of conversion. The certified valuation will be used to substantiate the tax calculation for the IRS.

Legal & Litigation Issues – A business valuation is often needed to establish economic damages in commercial litigation proceedings, to determine equitable distributions in shareholder disputes and to facilitate an equitable distribution settlement for divorce. Some of the more common legal reasons for obtaining certified valuations include marital dissolutions, partnership dissolutions, shareholder disputes, buy-sell agreements and eminent domain issues.

Mergers & Acquisitions – Determining the value of your business is the first step in the process of selling the business. A certified valuation will allow you to respond to potential buyer concerns by analyzing your company’s value and risk drivers. It will identify the sources of value and the areas of the business that can be improved. Knowing the fair market value of your business, backed up with an independent valuation, will prepare you to be a better negotiator.

Business Financing – Whether you decide to look at traditional lending institutions or venture capital (VC) to help finance your business, an independent business valuation will often be required before approval of your financing is considered.

Additional Valuation Purposes – There are many additional valuation purposes including Fair Value Reporting and Disclosures, Intellectual Property Valuation, Insurance Purposes and Foreclosures.

If you are a small business owner, you should be concerned with the cost/benefit ratio of having an expert valuation prepared by a Certified Valuation Analyst. It really comes down to the old adage, “you get what you pay for.” It is invaluable to have a valuation that stands up under scrutiny, is defensible in litigation and mediation, and provides you will the key information you need to make sound business decisions.

We provide business valuation services to organizations located in Massachusetts and New Hampshire, with the capability to serve businesses throughout New England.

At Anstiss & Co., our level of expertise goes beyond standard audit and tax services. We have been providing sound business consulting services to clients throughout the United States from our Merrimack Valley office since 1964.

We have built our reputation due in great part to our knowledge and transparency. In fact, some of our clients rely on us to help “quarterback” or review their business decisions, serving as the driving force and advisors behind many of their business management processes.

Our not-for-profit specialists have helped many organizations manage their finances and make important business decisions that have provided direction for their organization. A common misconception of many not-for profits is the idea that they should fully exhaust their budget annually, so as to operate with no financial gain. This hinders the growth of the organization and keeps them unprepared in the event of large, unforeseen expenses. It is important for a not-for-profit to operate at a surplus when possible in order to succeed in the long-term and make a real impact in the community it serves.

Whether you are looking for advice on a specific challenge facing your business, want to run your not-for-profit like a for-profit business, or if you need a team to help guide the financial success of your company through every step, the accumulated years of business consulting experience at Anstiss & Co. can help you make it happen.

It doesn’t happen very often, but when you are contacted for an IRS or other tax audit, the experienced professional staff at Anstiss & Co. will represent you. Since 1964, we have accumulated significant experience in working closely with IRS auditors and we have a solid understanding of what is necessary to minimize the impact that an audit may have on you or your business.

Anstiss & Co. has earned a favorable reputation in working with the IRS and state auditing agencies. We will also represent companies and individuals that have had their tax services managed by other accounting firms.

The best line of defense in any tax audit is having a qualified accounting firm to represent you and assist you in gathering the supporting documentation you need for the audit. Explaining why a particular deduction was taken, knowing the statute that applies, being able to account for the interpretations made and showing that these interpretations were based on sound tax principles and, in many cases, legal precedent, makes it much easier to get through the tax audit process with greater success.

In a perfect world, the retirement planning process begins with your very first job. In reality, most people don’t start planning or saving for life after employment until much later. At whatever stage of life you decide to enter into the retirement planning arena, it is beneficial to seek the advice of qualified accounting & financial services professionals.

At Anstiss & Co., our retirement planning professionals are here to help you understand the tax implications of various retirement options and how to utilize the existing tax structure to your maximum benefit. We want you live as comfortably after employment as you have while working.

We’ll help you answer the important questions, such as:

• Are you receiving the maximum deductions for charitable giving?
• Do you need to sell your principal residence, and when do you need to sell by? What should you do about your other residences?
• Can you really afford to retire?
• How are you going to structure the retirement so that it works best for you?
• Should you convert your traditional IRA to a ROTH IRA?

Every case we work on is different. Therefore, the ability to creatively construct a personalized strategy for retirement is very important. Our team of consulting and planning professionals knows the ins-and-outs of retirement tax laws and their implications regarding retirement plans. This expertise translates into the development of a strategy designed to help you reach your financial requirements for retirement. Our goal is to help you preserve what you have accumulated over the course of your life.

It is important to note that we are not investment advisors. Rather, we’ll work with you and your investment advisors to create a retirement plan that best suits your financial situation.

Choosing the right accounting software for your business is a critical decision that is often handled without the proper attention and research. It is important to realize that while there are hundreds of available accounting software packages, they are not all right for your business, and selecting the wrong product for your business needs can lead to frustration and lost time.

At Anstiss & Co., our accounting firm is experienced with accounting software selection and implementation to help you make the right decision. We can help ensure you have the proper tools at your disposal, without overpaying for options you will never use.

Once the appropriate accounting software has been chosen for your business, our team of professionals will help you integrate the program with your existing infrastructure for a seamless transition.

Although we are certified QuickBooks ProAdvisors, we are not accounting software resellers and we work with many other accounting packages. We simply provide independent business consulting services to help your business in the purchase and implementation of accounting software.

QuickBooks is a great program to help manage your business accounting and financial statements. However, having the right software is only part of the equation. Being able to properly and effectively navigate through the QuickBooks applications, as well as understanding the full range of tools provided by QuickBooks and how they relate to your business is crucial to maximizing the benefits of the software.

The professionals at Anstiss & Co. are knowledgeable in setting up QuickBooks to work for you and provide real value in your day-to-day financial management, not simply to act as a reference during for year-end tax preparation. If you are not maximizing the available features of QuickBooks to assist in the management of your real-time financial operations, you are not receiving the full value of the software.

As a part of our wide range of business consulting services, we are proud to offer QuickBooks advisory services by QuickBooks experts on our staff. As certified QuickBooks ProAdvisors, we have the expertise to help customize QuickBooks to meet the needs of your business, as well as provide support and answer questions related to your business’s QuickBooks usage.

The certified QuickBooks ProAdvisors at Anstiss & Co. have completed a comprehensive training program, and are qualified to assist in basic payroll and accounting management tools offered by QuickBooks, as well as advanced QuickBooks features your business may be utilizing. Training, troubleshooting and QuickBooks implementation are all a part of what we do to make sure you are getting the most out of your QuickBooks business applications.

A business merger, or the acquisition of new assets for an existing business, is a major transaction that will affect a company for years to come. The rushed purchase of a business without properly applied due diligence or the poor management of a sales transaction can have a major financial impact.

At Anstiss & Co., we understand that the single biggest mistake made in buying or selling a business is not properly planning the transaction. Inevitably, this leads to business owners leaving more money on the table and less in their pocket. When we work with our clients to assist in the purchase or sale of a business, we go through a due diligence process designed to ensure that every question has been answered before the buyer or seller asks it. We understand that the smoother the transaction process goes, the less likelihood there is for a delay or price adjustment. We also understand that each time a potential buyer walks away from the negotiating table, the likelihood that the seller’s targeted terms will be met decreases. Our goal is to assist our clients in getting the transaction closed in as timely a manner as possible.

As a part of our business consulting services, our team of qualified experts has been successfully assisting clients through the complicated process of buying and selling businesses since 1964. By becoming students of the business being purchased or sold, we guide our clients toward sound business merger and acquisition decisions.

We possess an innate understanding of the process from both sides of the equation. Every step of the merger and acquisitions procedures undertaken by our accounting firm, from internal reviews to the completion of the transaction, is managed by our qualified team in a personalized, friendly and expeditious manner.

Pension and profit-sharing plans (money purchase, profit sharing, 401(k), 403(b), defined benefit, SIMPLE, etc. are set in place to foster a sense of partnership between employees and employers, allowing your employees to share with you the benefits of your successful business. These plans reward employees for their hard work, dedication and long-term commitment to your business.

By electing to offer a pension or profit sharing plan to your employees, you can establish your business as a more attractive employment option for prospective hires, and your company may be able to take advantage of annual tax deductions. However, finding the appropriate plan that best fits your long-term goals, short-term needs and your budget is a crucial decision that requires expert advice from a qualified accounting firm. Many of these plans are fairly complicated and getting the right advice, provided by proven experts, can save you money and many anxious moments.

At Anstiss & Co., our expert professionals can provide you with the guidance needed to help you find the proper balance of long-term and short-term costs and benefits. Our approach to pension and profit sharing plan selection begins with a careful review and analysis process. Our team of professionals will then explain the rules and regulations of each plan, the most opportune time to set up pension and profit sharing plans, and what works best for your entity and your employees.

Important factors:

• What are your personal retirement goals as a business owner?
• How many employees do you have?
• What are the ages of your employees?
• What is your company’s annual net income?
• What are the short and long-term goals of your company?

Our team of qualified professionals is highly experienced in understanding the rules and regulations and will help you safely navigate the complexity of pension and profit sharing requirements and options to find the plan that is the right fit for you.

Since 1964, our firm has been providing businesses a wide range of affordable and valuable business consulting services. Our professionals take an individualized approach to your business and make recommendations based on your company’s profile and needs. We do not take a one-size-fits-all approach.

When most people hear the terms “debt restructuring” and “financing services,” they think of businesses or individuals on the brink of bankruptcy, looking to dig out of a financial disaster. While there are plenty of instances where this is an accurate portrayal of a client in need of debt and financing advice, there are many other instances that can result in tax savings as well as improving cash flow.

Our established relationships with both national banks and local lenders provide our business clients with the resources necessary to finance new and exciting ventures. We will examine the existing financial condition of your business or businesses, and work with the appropriate lenders to help you obtain the proper financing with reasonable and manageable payment plans.

The debt restructuring experts at Anstiss & Co. make a point to understand the current markets and business climate, and have a deep knowledge of how a carefully structured debt plan can create tax savings, improve business credit, and help to sustain your business efforts moving forward. We are experts at helping businesses find and procure alternative funding sources outside the generally accepted “conventional” methods of financing that you may be familiar with.

Our approach to business debt restructuring is to take a full evaluation of our clients’ outstanding debt and explore all possible options in finding the most beneficial method of refinancing, in the most tax-advantageous way.