PFA Tax and Accounting Professionals offer a full array of consulting services. We gear our consulting services toward maximizing your cash flow and profitability. Some of the specialized services PFA offers are: business valuations, succession, and estate planning, tax planning, mergers and acquisitions and projections for financing. Business Valuations and Succession Planning are especially critical for those nearing retirement. We base services on time involved, so we do not charge commissions or receive a higher fee based on sale price.
Business Valuations may be necessary for many reasons including Buy-Sell Agreements, Mergers and Acquisitions, Divorces, SBA & other financing purposes, Succession Planning, Estate and Gift Reporting, Shareholder Disputes, etc. Fees for Business Valuations are based on our staff time involved in each engagement, with a general range between $2,500 and $5,000.
PFA works with our clients to determine the most effective way to transfer your business. We believe a buyer and seller should “make the deal” before involving lenders or attorneys. We prepare a financial plan for the seller and then present it to the buyer with a plan, once agreed upon, for securing any outside financing. When approved, attorneys can be brought in to “document” the transaction. This approach may keep costs lower.
Tom Flynn comes to PFA with nearly twenty-one (21) years of experience with Federated Funeral Directors of America, a national accounting, tax and consulting firm in the funeral industry. For the majority of his tenure he was Manager of the Advanced Planning Department. His responsibilities included overseeing the preparation of Business Valuations, Succession & Estate Planning, Mergers & Acquisitions, Corporate, Partnership, Individual, Estate & Gift Tax Planning & Preparation and other Advanced Financial Planning & Consulting Engagements. He has been responsible for more than 1,000 business valuations, 600 business succession plans and 200 estate planning engagements.
Tom also spent seven years (7) with Gerald L. Kuhn & Associates, CPAs where his responsibilities included Individual, Partnership, Corporate and Pension Income Tax Preparation & Planning and Preparation of Audited, Reviewed and Compiled Financial Statements. Tom has a BS in Business - Accountancy Degree from Eastern Illinois University. He has been a Certified Public Accountant since 1987, a Certified Financial Planner since 1994, and has been accredited in Business Valuation since 2005. Tom is a member of the American Institute of CPAs, the Illinois CPA Society and the AICPA Business Valuation Section.
What do accountants do with themselves after tax season? Actually, the same thing they do during busy season: They work hard for their clients. The only difference is that instead of cranking out tax returns, they help clients work through other aspects of their financial health—including issues revealed during the yearly tax return process.
Spend it? Save it? Invest it? Share it? Here are a few ideas for putting your tax refund to work for you:
Most professions have their own lingo, and accounting is no different. What is different is that you have a vested interest in understanding what your accountant tells you about your financial situation. So, here’s a quick primer on common accounting terms—some business-related, some general—to keep you in the know: