Our firm offers a wide range of services to our individual and business clients. Being a relatively 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.
As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
- General ledger & financial statement preparation
- Bookkeeping (Monthly/Quarterly/Annual)
- Accounting system setup for new businesses
- Computerized payroll services
- Business tax return preparation (Sales & Use/Business Property)
- Personal financial statements
- Litigation support
Audits, Reviews and Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:
- Audit- an intensive examination with the highest level of assurance
- Review - some analytical procedures conducted with limited assurance
- Compilation - based upon client information provided and used primarily for internal use.
Meaningful, well-organized financial records ensure that your business operations run more efficiently on a daily basis and are the foundation of a successful business.
Godecke Clark provides customized complete bookkeeping services to fit your business or personal needs. We can assist with the following:
- QuickBooks Setup
- Monthly or Quarterly Data Entry and Reconciliation
- Processing and Managing Accounts Payable and Receivable
- Bill Payment Services
- Monthly or Quarterly Financial Statements and Reports
- Analysis of QuickBooks Entries
- Bank and Investment Reconciliation Services
- Form 1099 Services
- Business Property Tax Reporting
Financial Forecasts & Projections
Financial planning and forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals.
We are well-versed in the area of financial statement preparation and can perform services including compilations, reviews or audited financial statements. We can prepare a structured and easy to understand statement that accurately reflects the financial activities of your business or personal financial situation. We can also include an extensive set of disclosure notes to explain specific items of the balance sheet and income statements as required. Having a well-prepared financial statement is integral to understanding the current status of your business and it can be a vital part of future tax and business planning. All statements prepared will be in accordance with the Statements on Standards of Accounting Services issued by the American Institute of Certified Public Accountants.We are proud to have received an “accepted” report with each review period through the AICPA Peer Review Program administered by the California Society of CPA’s since the early 1990’s when we began participating in the program. This program carefully scrutinizes our firm’s procedures and compliance with relation to the financial statements we issue.
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.
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 fully qualified to address the complex issues of business continuation and we can assist you in developing a strategically sound plan.
Effective estate tax planning is essential. We believe that our high net worth clients will benefit from our knowledgeable and experienced staff professionals in the area of estate tax planning. Together as a team we can strategize and plan for the distribution of your wealth to your children and grandchildren. With effective estate planning, we can minimize the tax burden on your estate and maximize the amount that your beneficiaries receive.
A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.
You cannot know your risks without knowing your objectives. Failure to understand your risks and their impact on your business can be fatal.
As a business owner, what keeps you awake at night?
Is it sales, competition, employee issues, public relations, regulatory compliance, or all of the above?
Do you have a strategic business plan in place?
Risk management is an essential part of managing and growing your business, it can help identify potential events that could impede your business. With our experience, we can help you identify your objectives and minimize your risk, allowing you to focus on what is most important: growing your business and improving your financial stability.
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 also offer trust accounting for various trusts that are established such as Credit Trusts, Bypass Trusts or Survivor’s Trusts. As a trustee there are certain fiduciary responsibilities that must be followed according to the Uniform Principal and Income Act. We can assist you in making sure you follow those guidelines.
Godecke Clark has numerous years of experience dealing with many taxing authorities. Our employees are at level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
As your business grows, you may need to hire more employees, this can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
We offer a variety of services quarterly and annually related to payroll including:
- Assistance with the new EFTPS system
- Paycheck Calculation
- Payroll Tax Returns
- Household Employee Payroll
- Preparation of W2’s
- We offer Firm-on-Firm peer review services to help your acounting firm comply with the AICPA peer review requirements.
Sales Tax Services
Many of our clients are responsible for collecting and submitting sales tax in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.
Tax Planning & Preparation
Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current developments in the tax law to minimize both your current and future tax liabilities.
Whether you are an individual or a multi-tiered partnership, our experienced staff can develop tax strategies to take advantage of new tax laws and legislation.
Our software enables us to accurately and efficiently prepare and electronically file returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.