D James Nielsen, CPA, PC

About

We are an accounting firm that builds valued relationships with our clients; to assist them in making positive change in their businesses and lives.

Description

We are an accounting firm that builds valued relationships with our clients; to assist them in making positive change in their businesses and lives. We not only provide the usual accounting services, but what makes us unique is that we focus on providing business analysis and projections to help our clients understand where they are now and chart a course to help them get to where they want to be. We can offer a unique set of accounting skills due to our business experience, state of the art tools, and knowledge base.

The list below is by no means all-inclusive but will give you an idea of the services we provide. We would be happy to discuss with you services that might be of interest to you.

Income Tax Preparation
We prepare tax returns for; individuals, corporations, limited liability companies, partnerships, trusts, estates, not for profit entities, and partnerships. We also prepare gift tax and inheritance tax returns.

Financial Statements
We prepare compilation and review financial statements. We can prepare these statements on a monthly, quarterly or yearly basis.

Bookkeeping and write-up
Our staff can assist you in the day-to-day tasks associated with bookkeeping.

Accounting Set-up & Evaluation
Review accounting system, including tracking documents through system to ensure accounting system is functioning properly.

Accounting Consulting Services
Review with client specific accounting issues and how they affect the client.

Accounting Software Evaluation
Review various accounting software packages in the market and assist in choosing the best package to serve business needs. Assist in use of Excel spreadsheets to perform in the accounting function.

Software Training (incl. Quickbooks)
Assist in implementing and use of Quickbooks functions to adequately keep the accounting function operating properly. Provide training to staff.

Compliance Accounting Admin
Review the compliance of Federal and State regulations dealing with payroll, documentation, mileage logs, paperwork retention, filing requirements, and etc.

How to read your Financial Statements
Do you know what your financial Statements are telling you? We have created visual aids and procedures to help you understand the relationship between you financial statements and the reality of what your business is doing. This allows the owner to use the financial statements as a tool in your business.

Financial Statement Review
Study the financial statements to make to make certain they are according to GAAP, they fairly represent the company and make recommendations to have more accurate client produced financial statements.

Tax Analysis and Forecasting
Review clients tax situation and determine the tax implications of their situation. Develop strategies that will minimize the client’s tax liability.

Personal and/or Business Income Tax Returns
Prepare the Federal Income Tax return and any State Income Tax Returns.

Tax Planning / Mitigation Strategies
Work with clients with their tax issues and develop strategies with them to reduce taxes. Evaluate the effectiveness of the developed tax strategy.

Entity Admin. and Reporting
Provide compliance time table and determine what part of the reporting and administration should be performed by client, accountant, and team member or outside source.

Tax Payment Coordination
Work with clients to pay their taxes in a way that avoids penalties but allows the taxpayer to hold on to their money as long as possible. For clients that cannot pay their taxes, talk to them about strategies to pay their taxes as soon as possible.

Cash Flow Analysis/Tracking
Implement a 24 month planning and tracking tool. Provide education regarding cash management. Review current cash flows to determine expenses that could be minimized.

Debt Reduction/Management
Perform personal debt analysis to evaluate the debt ratios against assets and net worth.

Entity Evaluation & Planning
Review advantages of various entity choices for a business. Explain tax and business implications of each entity. Assist in selecting the proper entity choice for a business. Prepare IRS and State filings as necessary for a business entity.

Business Startup Strategy
Initial evaluation of viability to start business. Evaluate the concerns and opportunities of the industry.

Business Analysis; Strategy Implementation
Analyze the progress a business is making in relationship to its goals and plans. Clarify owner’s business vision and develop strategies to meet their business goals and expectations.

Breakeven Analysis
Determine fixed and variable expenses and determine revenue amount or units sold to cover fixed expenses

Goal Setting, Review, Management
Assist business in setting goals and monitoring progress towards its goals. Establish benchmarks to gauge progress towards goals.

Business Expense Evaluation
Review expenses in comparison to revenue and industry standards.

Business Planning & Guidance
Identify functions that are required by the business. Evaluate employees performing those functions and natural strengths (Technician, Manager, and Leader). Assist in positioning the right mix of employees and management staff.

Key employee Compensation
Identify what management wants in a key employee and make recommendations that will achieve owner’s desired outcome.

Business Exit or Transition Planning
Do preliminary work to discover company goals and uncover the various succession options. Identify and coordinate team members in carrying out the business exit plan.

Systems, Technology & Operations
Evaluate business flow, systems and procedure used on a daily basis. Evaluate effectiveness of business systems. Lead teams in developing plans and implementing the required business systems.

Retirement Analysis and Planning
Complete projections for retirement funding and the expected tax exposure through retirement and the potential impact to heirs.

Stock Option & Grant Planning
Review and explain employer documentation of stock option program. Identify key dates for qualifying, granting, and exercising options. Provide hold vs. sell information, comparisons and strategies to maximize benefit.