At Clark White & Associates, the careful management of your financial resources is our top priority. We pride ourselves on giving you a personalized and thorough service that meets your business or individual needs.
We provide a full range of tax and accounting services for our clients and offer consulting services for special needs.
At Clark White & Associates, we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients with excellent service. Tax partner and specialist involvement ensure that our clients receive the most experienced technical expertise we have to offer.
We offer the following tax services:
Federal, State, and Business Tax Services for individuals, partnerships, corporations, estates and non-profits.
Tax Return Compliance
Preparation of federal and state tax returns is the core of our tax services. High-levels of technical and industry-specific expertise allow our tax professionals to ensure our clients’ tax returns are prepared efficiently and timely.
Accounting Method Reviews
We review businesses’ tax accounting methodologies for proper accounting and accounting method strategies to maximize income tax benefits.
Audit & Appeal Representation
We possess the expertise and experience to represent taxpayers before tax authorities. Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain you the most favorable results.
State and Local Tax Specific Services
Nexus Consulting and State Tax Liability Analysis
We can help you understand and navigate where your business is required to file and pay state and local taxes based on multistate activities. Additionally, we will make recommendations on where to file and quantify potential tax liabilities associated with various state and local jurisdictions.
Sales and Use Tax Determination
We can help you understand the sales and use tax consequences of specific transactions and ensure you meet any filing requirements.
Tax Planning Services
Federal Income Tax Planning
We aid businesses with all aspects of federal income tax planning. This includes implementing federal income tax strategies that maximize savings, increase profits, and manage cash flows.
State and Local Tax Planning
Our team understands the structural and transactional underpinnings of state and local regulations in ways that allow us to create solutions that mitigate tax liabilities. We provide state and local tax planning in the following areas:
- Income tax
- Sales and use tax
- Payroll taxes
- Other miscellaneous taxes
Business Succession Tax Planning
You spent your life building your business, and now you want to pass it on to the next generation or sell the value you built. We advise businesses on the proper succession planning to preserve your family and business legacy while also looking out for potential tax consequences that may result.
Other Tax Services
Accounting for Income Taxes
Financial accounting for income taxes can be complex. Our professionals have the technical skills and experience to help our clients navigate through these complex requirements and create efficient income tax accounting and reporting. We also help companies stay up-to-date with regulatory guidance and disclosure requirements. The services we offer allow our clients to minimize year-end surprises and reduce risk related to reporting. These services include:
- Calculation of tax provisions
- Account for uncertain tax positions
- Analyze current and deferred taxes
- Prepare financial statement footnote disclosures
We keep our clients up-to-date on the latest federal and state tax issues through webinars, newsletters, website postings, and face-face meetings. By staying ahead of tax issues, we can communicate how they will impact your operations quickly and address them promptly.
Individual Tax Services
When it comes to individual taxes, change provides opportunity. We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities. You can depend on us for objective guidance and personal attention. We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.
Estate and Trust Tax Services
If you have not considered what will happen to your hard-earned assets as you age and eventually pass on, you should. Without an estate plan, the wealth you worked your entire life to build will be distributed according to state law and not according to your wishes. Estate planning is crucial if you want to minimize taxes and distribute as much as possible to your preferred beneficiaries.
We will work with you to design an estate plan customized to your particular needs by utilizing various planning vehicles such as family limited partnerships, trusts, and charitable entities. Our team can assist you by performing the following:
- Review wills and trust instruments.
- Estimate estate taxes and strategize alternatives that may provide tax savings.
- Review business issues including valuation and the transfer and/or disposition of business interests.
- Identify potential liquidity problems caused by federal and state estate taxes for the family business's continued operation, probate, administration costs, etc.
- Develop a lifetime gifting program using vehicles such as family limited partnerships, charitable trusts, and qualified personal residence trusts
- Prepare estate, gift, fiduciary, and non-profit tax returns
Looking for a little information right now? View the latest Tax and Financial News article in our Newsletter.
Reviews are usually performed to satisfy third parties that want to be assured that the financial statements are not materially misstated. They provide a lesser degree of assurance to financial statement users than an audit. Also, unlike an audit, there is no expression of an opinion on the financial statements, testing of controls, or financial data. Reviews essentially consist of inquiries of company personnel and analytical procedures applied to financial data.
Compilations provide the lowest level of assurance of the financial statements services. They are often required by outside third parties as well as internally by companies.
In a compilation, we assist management in presenting their financial information as financial statements in the proper form. Compilations also require us to acquire an understanding of the client’s industry and to obtain specific knowledge about the client. Additionally, we read the financial statements and ensure they are free from obvious material errors. They provide no expression of an opinion on the financial statements.
Agreed Upon Procedures
Agreed-upon procedures are performed when the parties involved concur that they want the accountant to perform a specific procedure or set of procedures. They can be useful when you or a third party wants some comfort about a specific area such as inventory or cash but do not need the assurance and related time and expense of a full audit or review. In all cases, agreed-upon procedures are solely the parties' responsibility who specify them, and they never provide an opinion on the subject matter or financial statements.
Visit our set of Financial Calculators for quick answers on topics such as your IRA, investments, your child's college tuition, and your mortgage or credit card calculations.
At Clark White & Associates, our business is to know and understand your financial situation. We offer services beyond compliance and combine our experience, expertise, and knowledge to add value as a trusted advisor to your financial situation.
We offer the following consulting services:
Business Planning includes reviewing:
- Buy and sell agreements
- Purchases or sale of a business
- General business planning
Check out our Newsletter for the latest article on Financial Planning.