Hau & Associates provides a wide range of business
services. We would be very happy to meet with you
to discuss how our firm can be of service to you in
any of the following areas:
Hau & Associates, S.C. gives you in-depth insight into
your business. With a thorough understanding of your financial
statements, you can quickly identify the areas of your business
that most require attention, and provide the most opportunity
for growth. Our interviewing process identifies the specific
financial information you need in order to manage your business
effectively. We can then tailor your accounting system to
include this information in your financial statement package.
Finally, we will meet with you periodically to discuss your
financial statements and what they mean to your business.
Typical areas of discussion include:
- What trends do your financial statements show?
- What is your break-even point?
- Is there a need for additional operating capital or perhaps
- How will your company finance projected expansion and
- What tax planning opportunities are available?
Whatever the question, we work with you to help find solutions.
Last but not least, our optional hosted accounting services
server (www.haunow.com) allows secure access to your accounting
data from any internet connected Windows-based computers.
Backups are done daily, and best of all we are able to help
with all of your accounting needs in real time without any
disk swapping or interruption to your work.
Accounting Software Selection and Implementation
Businesses have a wide variety of accounting software packages
to choose from. As accounting professionals, we are familiar
with a number of accounting programs including QuickBooks,
PeachTree, Great Plains, Solomon, Real World, DAC Easy, MAS-90,
and others. Depending on the size and nature of your business,
some software packages are more suitable than others. Our
experienced staff is ready to help choose the software that
best fits your needs.
Audits, Reviews, and Compilations
Whether your business needs compiled financial statements,
or more in-depth reviewed or audited statements, Hau &
Associates, SC is ready and able to serve your needs. Most
small businesses need compiled statements for internal use
and for their banks. However, we also provide more intensive
services such as reviews and audits, which may be required
by regulatory authority, or by loan covenants. We perform
audits and/or reviews for manufacturing companies, investment
companies, distribution companies, not-for-profits, homeowner
associations, and a wide variety of other businesses.
Business Entity Selection
Choosing the type of entity for your business (sole proprietorship,
partnership, corporation, or limited liability company) is
a crucial decision that can have long-term economic and tax
implications, positive or negative. For example, limited liability
companies, taxed as partnerships, work well for real estate
holding companies. For manufacturing companies, corporations
or limited liability companies (taxed as corporations) are
often chosen. Finally, the decision as to whether a corporation
should make an "S-election" varies from business
to business. With our experience with hundreds of small businesses,
we can help you determine the most advantageous type of entity
for your business.
Business Succession Planning
One of the most challenging aspects of business ownership
is developing an exit strategy. Whether this takes the form
of a sale to family members, trusted employees, outsiders,
or a combination of the above, we can help.
A well-crafted business succession plan is ideally developed
months, if not years before it is implemented. This gives
the business owner ample time to get comfortable with the
plan, and to adjust the plan as circumstances or perceptions
change. We have worked with a number of businesses over the
years to develop "win-win" business succession plans.
If you are thinking of buying a new business or selling an
existing business the valuation of that business is vitally
important. Business valuations are also frequently reconstituted
by events such as divorce, a death in the family, or other
unanticipated circumstances. Hau & Associates, SC provides
useful and objective analysis to assist you in the valuation
of your business.
Buying and Selling a Business
There are a number of factors that can dramatically affect
the viability of the purchase or sale of a business. Of particular
concern are the value assigned to the business, the structure
of the transaction, cash flow, and of course, tax considerations.
From assigning a value (See Business Valuations) to strategizing
the plan, Hau & Associates, SC can help.
Cash Flow and Budgeting Analysis
A business can be profitable and still have cash flow problems,
frequently caused by rapid growth. We can evaluate and forecast
your company's financial condition and the related financing
requirements. We have developed comprehensive in-depth projection
models to forecast profits, cash flows, loan amortization,
and future balance sheets. (See Also "Financial Forecast
At Hau & Associates, SC, we gauge success by our ability
to help our clients reach their financial goals. We help our
business clients identify areas negatively affecting profitability
and growth, and work cooperatively to develop strategies and
solutions. We also act as a sounding board for management.
For proposed action plans we provide comprehensive, flexible
strategies that address issues affecting your business.
For our non-business clients our consulting services include
assisting in the selection of an investment advisor, estate
planning litigation support, and development of personal financial
statements and projections.
The following are just a few of the areas in which we provide
- Accounting software selection and implementation
- Business entity selection
- Business valuations
- Buying and selling a business
- Estate, trust and gift planning
- Financial forecasts and projections
- Selection of investment advisor
- Retirement planning
It can be a complicated process to ensure that the assets in your estate are distributed according to your wishes. Hau & Associates will work closely with you to develop a unique plan that will enable your assets to pass in a prudent, judicious manner consistent with your goals and free of any undue taxation.
Estate and Trust Tax Preparation
At Hau & Associates, we have worked with hundreds of estates
and trusts performing such varied functions as preparation
of estate and fiduciary tax returns, assistance with informal
probate, and providing accounting services to track and report
estate or trust activity.
Financial Forecast and Projections
At Hau & Associates, SC, creating customized financial
projections is one of our best services. Through our in-depth interview
process, we develop a projection template that can be easily
modified to portray a variety of best-case/worse-case scenarios.
Modified financial projections are produced in a matter of
Typically, new start-up businesses need detailed financial
projections for the first three to five years, including:
- Month-by-month and yearly profit and loss statements.
- Month-by-month and yearly cash flow statements, including
anticipated reductions in lines of credit, increases in
money market balances, income taxes, and distributions to
- Annual balance sheets.
- Detailed amortization schedules for existing and projected
Our financial forecasts and projections offer all of the above,
and include a summary of assumptions as well, for your internal
use or to assist you in obtaining financing.
haunow.com (ASP Services) Our clients quickly realize the value of the haunow.com ASP connection for the many benefits it provides.
Access to your QuickBooks files 24 hours per day, 7 days per week, from any internet connection.
Elimination of damaged files or disks from mailing or emailing data back and forth.
Up-to-the-minute financial statements for both you and your accounting firm.
Ability to work from multiple terminals at different remote locations.
Reduction in overall accounting fees because of the efficiencies of connection.
No charge for updating your payroll tax tables.
Nightly backup of all data and anti-virus protection software for your QuickBooks file.
"Shadowing" available to facilitate training.
Responsive technical support by Hau & Associates. Other technical support services, such as installation of credit card features, or emailing of sales invoices, are billed at our standard billing rates.
Hau & Associates, SC has established collaborative relationships
with reliable investment advisors of the highest integrity.
As a team, we work with you to build a portfolio to reach
your financial objectives. If you are looking for professional
investment advice, give us a call. A joint meeting with our
firm and our investment advisors can set the path for your
Our firm is well qualified to provide expert witness services
in litigation cases. With our extensive accounting, auditing,
and consulting experience, we can assist you with a variety
of litigation situations, including economic damages, identifying
fraud or embezzlement, helping establish the value of marital
assets, and even assisting with negotiating settlements.
A key element to operating a successful medical practice is
to have effective medical billing and collection procedures.
At Hau & Associates, SC our medical billing follow-up,
and collection process have proven to be successful. Our experienced
medical billing personnel combined with state of the art software,
enable us to provide high quality service at competitive prices.
We provide electronic transmissions of claims in order to
minimize the time between submission of the claim and receipt
Every business with employees is familiar with the challenges
of payroll administration. Hau & Associates, SC has extensive
experience in implemented reliable, efficient and effective
payroll systems for a wide range of clients. We also prepare
all required payroll reports, or if you prefer, we can train
you in this process.
Representation in Tax Matters
Our years of experience dealing with complex tax matters enables
us to effectively represent you in resolving issues involving
the IRS or State tax agencies.
If you have received correspondences from a taxing authority
requesting further information, or indicating that you are
being audited, give us a call. Proper and competent representation
is often the key to successful resolution of a tax controversy.
Qualified retirement plans can provide significant tax advantages
for closely held businesses and self-employed individuals.
Choosing the type of retirement plan best suited for your
goals and those of your employees is a task that requires
careful deliberation. At Hau & Associates, we work with
a variety of plans, including defined benefit plans, 401(k),
SEP, SAR-SEP, and SIMPLE plans. Our consultation services
include asking the right questions to identify the type of
plan best suited for you.
In addition, we can assist in retirement plan administration
by compiling financial statements for plan assets and preparing
annual reporting forms.
Sales Tax Services
Many businesses are responsible for collecting and submitting
sales taxes to various governmental units. We can help your
business compile information and prepare sales tax returns
accurately and on a timely basis.
Comprehensive tax planning is an essential strategy of any
successful business. By using our experience and up-to-date
knowledge of new tax law developments, you can minimize your
current and future tax liabilities.
Tax Return Preparation - Business, Personal, Estate,
Hau & Associates, SC has extensive experience in the preparation
of income tax returns and information returns for corporations,
partnerships, not-for-profit organizations, individuals, estates,
and trusts. Tax preparation involves more than simply filling
out forms based on the information provided. We interview
you to help identify tax opportunities that might otherwise
be missed. Combined with strategic tax planning, our services
can minimize your tax liability.
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