• Cash is King Cash Flow Improvement and Recession Busting Programs
• Business Development Program - A Comprehensive Approach to Improving Your Business
• Team Development Programs
• TriMetrix and DISC Analysis for Current and Potential Employees
• Profit Planning and Financial Forecasting
• Financing Options and Opportunities Guidance
• Budgeting and Cost Control
• Pricing and Discounting
• Materials and Inventory Control
• Merger and Acquisition Studies
• Succession Planning
• Cash Flow Analysis
• Compensation Planning and Performance Evaluation
• Microcomputer Systems Selection and Implementation

Business Valuation & Litigation Support Accounting & Auditing Services Planning for your Future

Tax Planning & Reporting Services Professional Standards Case Report: Levitan, Yegidis, and Associates LLP Approach

 
   

Business Valuation and Litigation Support

In a period of significant merger and acquisition activity, partnership breakups, personal injury litigation and complex divorce settlements, Levitan, Yegidis & Associates LLP provides the expertise necessary to establish the worth of an enterprise for financial, investment, estate tax, or legal purposes.

Along with the need for valuation expertise, the demand for fraud detection and prevention, forensic accounting, and litigation support has grown dramatically. Because we understand the forensic area like attorneys understand the nuances of the law, we are frequently called upon to serve as expert witnesses before the courts, where we provide objective evidence in cases involving a broad range of financial disputes. Our professionals draw on years of practical experience to provide you with authoritative assistance in establishing:

• Valuations for Tax and Capital Gains Purposes
• Insurance and Business Loss Claims
• Damages for Lost Profits
• Values for Minority Shareholders
• Employee Stock Ownership Plans
• Marital/Estate Tax Valuations
• Asset Protection and Discovery
• Fraud Detection/Prevention
• Valuations for Mergers and Acquisitions
• Values in Partnership/Shareholder Disputes

Tax Planning and Reporting Services

The complex and constantly changing arena of taxation plays a major role in determining the pace and direction of your business growth and profitability. Levitan, Yegidis & Associates LLP has significant experience in advising clients on the tax implications of business transactions.

The philosophy of our tax practice centers on creative and aggressive tax planning. With lead time, we give our clients more flexibility and options to eliminate, reduce or defer tax obligations.

We serve sole proprietors, partnerships, closely held corporations, limited liability companies and partnerships, estates and not-for-profit organizations, providing clients with timely advice on emerging developments that impact their daily business decisions.

The wizards in our tax department can assist you in:

• Corporate Taxation and Tax Aspects of Reorganization
• Advanced Structuring of Specific Transactions
• Fringe Benefit Planning
• Interacting with Government Taxing Authorities
• Monitoring New Statutes, Regulations and Judicial Interpretations
• Deferred Compensation Planning
• Representation before taxing authorities

Accounting and Auditing Services

While Levitan, Yegidis & Associates LLP has distinguished itself by providing the practical advice that helps companies grow, our personalized approach to comprehensive accounting and auditing services remains the foundation of our firm's practice.

From auditing financial statements and analyzing your accounting control systems, to monitoring your office procedures and recommending improvements, we help you build a sound business and financial structure that supports growth and protects your company's future. Unlike many advisors, our approach is to view the financial statement as the beginning, not the end result of our work.

Our accounting and auditing services include:

• Audit, Review and Compilation of Financial Statements
• Audit and Compilation of Forecasts and Projections
• Evaluation of Internal Accounting Controls
• Identification of Potential Funding Sources
• Special Purpose Examinations

Professional Standards

Levitan, Yegidis & Associates LLP is proud to be one of the few members of the Private Companies Practice Section of the AICPA Division for Firms in the Mid-Hudson region. The PCPS oversees member firms whose practice includes audits of privately held companies. In order to assess the quality of a member firm's practice and compliance with professional standards, the AICPA conducts practice monitoring or "Peer Reviews." Our membership in the PCPS and the quality control procedures adopted by our firm ensure that all of our clients receive the highest quality professional accounting and auditing services. In December 1994, 1997, 2000, 2003 and 2006 we received the highest rating available to any accounting practice by successfully passing our peer reviews, without even one critical comment from the AICPA reviewer. That is indeed a rare result.

Planning for your Future

According to the National Federation of Independent Business, over 80% of business owners are not satisfied with either their return on investment or the general degree of financial success they've achieved. Levitan, Yegidis & Associates LLP can change those results for you.

We will help you define, measure and achieve your personal financial and business goals. We can show you how to avoid common pitfalls and how to build a strong financial foundation for your business. A foundation that will help you move more product or deliver more services.

We can show you how to:

• Develop an effective financial plan for short-term and long-term profitability.
• Analyze your balance sheet to evaluate the liquidity and safety of your business.
• Plan and manage your company for growth.
• Anticipate seasonal cash flow needs to determine when/if you need to borrow money.
• Measure your businesses' profits by using an income statement.
• Invest properly in machinery, equipment and vehicles.
• Finance your business and deal effectively with your lenders.

Although we don't have a crystal ball, we do have specialized tools that enable you to see into the future, using the past as a guide. Knowing what your future is likely to offer, gives you the opportunity to change it. Yes -- you can change your future. That is the primary objective of planning! Ask us how we can help you look into your Company's future.

In today's credit environment, lenders offer loans to companies that meet ever tightening credit criteria. Debt-to-Equity and other financial ratios, along with comparisons to industry standards are the keys that lenders use to evaluate your company. How do you measure up?

Let us help you look at your Company's future -- and improve it.

Case Report: Levitan, Yegidis & Associates LLP Approach

Years ago, two entrepreneurs met to plan the start of an exciting service business. One partner was nationally recognized for his creative and technical abilities, the other had a law degree and proven organizational abilities. Neither of them, however, had any previous business experience.

Based on a referral from a long-term Levitan, Yegidis & Associates LLP client, our firm was chosen to develop the new company's business plan and to put together a $1 million loan request to finance state-of-the-art computerized equipment and provide start-up working capital.

The Levitan, Yegidis & Associates LLP team went to work. Our tax department recommended strategies to structure the company's ownership to take maximum advantage of then-current tax regulations, including the use of multiple corporations, retirement plans, investment tax credits and state sales tax exemptions on purchased equipment and utilities.

That was the easy part. The tougher questions that needed answering were: How do you convince a lender to advance $1 million to a new company - whose owners had never operated a business before and had limited capital? How do you conserve cash needed for compensating balances when rent and utility deposits alone require almost 20 percent of the owners' capital?

Our financial services group helped structure a creative lending arrangement with a commercial bank, leveraging the company's strengths and assets to offer the lender an unusual level of security in the circumstances. Secured letters of credit were used to cover required rent and security deposits, even as the securing bank accounts did double duty as compensating balances.

As our client's business expanded, we faced each new opportunity and challenge together. Our firm continued to provide fresh strategic planning to promptly adapt to changes in the tax laws and the business environment. Expansion on the national level presented even more challenges.

Today, our client is in the forefront of its industry. The business has continued to grow and has expanded its horizons and services. Our client has continued to look to us for guidance in exploring new possibilities for growth and tax advantage. We have proudly participated in the growth and watched as they developed into savvy, sophisticated and informed business people.

Recently, we were called on to help structure the retirement buyout by one owner of the other. We performed a valuation of the company, developed the structure of the buyout, prepared a pro-forma so the company's debt could be restructured to accommodate the retirement and buyout, prepared a tax plan for the buyer and the company, and prepared a retirement tax plan for the seller. We look forward to serving these clients for many years to come. Regardless of the challenges ahead, we are committed to support the restructured company and its owner through every stage of the company's continuing development.