Services
Philps and Hards, P.C. offers a range of services to our individual and business clients. Being a small firm, we are able to offer our clients personalized quality service. Below, we have listed the services that we offer to our clients along with a brief description.
Tax Services
Tax Preparation
Our significant investment in computerized tax preparation, tax research software and continuing education supports us to accurately and efficiently prepare returns for individuals, corporations, partnerships, trusts and estates.
Tax Planning
Tax planning is an essential and important element of the tax preparation process. By considering income tax planning part of your overall strategy, you can use our experience, software tools and access to the most current new developments in the tax laws to plan your current and future tax liabilities.
Estate & Trust Tax Preparation
Effective estate and gift 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. We do not provide legal advice or valuation services.
IRS Representation
During our years of experience dealing with many taxing authorities, we have achieved a level of competence and respect we hope ensures our clients are being properly represented before the federal and state tax agencies. IRS and State representatives are fellow professionals that desire to resolve matters, but they may have differences in professional opinions. It is our position to make certain our clients are represented properly.
Consulting Services
Business Entity Selection
Choosing the form of entity of your business (e.g. "S" corporation, sole proprietor, limited liability company…) is a crucial decision that can have longstanding tax implications, positive or negative.
We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company. We do not provide legal advice.
Business Succession Planning
Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company's day to day operations.
With a solid background in tax and other financial matters, we are qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.
Consulting Services
We gauge our worth by the personal and business successes of our clients. We may help your business identify areas negatively affecting profitability and growth, and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following is just a few of the areas in which we provide consulting services:
- Accounting software selection
- Type of entity selection
- Buying/selling a business
- 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.
We do not provide legal advice or valuation services.
Retirement Planning
Successful implementation and periodic review of your financial plan will provide financial independence during your working years and through your retirement years.