Tax Services
Individuals and business leaders look to Central Wealth Consultants for advice on income tax and business tax strategies. We assist clients with personal and business tax planning, preparing income tax returns, and representing individuals before government agencies at federal, state and local levels. As part of our ongoing education, Central Wealth Consultants stay up-to-date on current tax laws and regulations, which can save our clients substantial amounts of money and worry. Central Wealth Consultants take the guesswork out of tax regulations and provide straightforward advice for staying on a clear financial path. Many Central Wealth Consultants are also trained to prepare tax returns or represent a client to tax authorities.
Auditing and Assurance Services
Auditing (also known as assurance services) is one of the most important and well-known services Central Wealth CPA’s provide.
Audits are conducted annually for publicly owned companies, privately owned businesses, nonprofit organizations and government agencies and groups.
These reports help owners and managers make operating decisions, enable creditors to evaluate loan applications, and help individuals make investment decisions.
At Central Wealth we provide our clients with three distinct services designed to meet a different need: compilation, review or audit.
Compilation — Central Wealth assembles financial statements using the client’s data but does not provide assurance on the financial statement. Compilations are useful in assisting small, non-public companies. During a compilation, the data is simply arranged into conventional financial statement form. No probing is conducted beneath the surface, unless we becomes aware that the data provided is in error or incomplete.
Review — A private company may engage a Central Wealth to perform a review of its financial statements and issue a report that provides limited assurance that material changes to the financial statements are not necessary. With respect to reliability and assurance, a review falls between a compilation, which provides no assurance, and the more extensive assurance of an audit.
Full Audit — A public or private company may engage a Central Wealth to audit its financial statements. Management is responsible for the content of its financial statements regardless of an organization’s size or form. The audit, provided by the Central Wealth, is a report that provides an opinion on whether the financial statements are presented fairly in conformity with generally accepted accounting principles. An audit is designed to provide the highest level of assurance that the financial statements are free of material errors and fraud.
Internal Controls — Learning how to protect the resources of a company is a key element in running a successful business. Central Wealth Consultants can help business owners understand the importance of organizational controls by evaluating or setting up procedures to reduce the risk of fraud.
Financial Services
To help individuals maximize their income and plan for a secure future, Central Wealth Consultants offer a variety of financial services, which include: personal financial planning, retirement and estate planning, college funding, investing, risk management and business succession planning. A few ways Central Wealth Consultants can help individuals with financial planning include: developing a personal budget, offering recommendations on ways to save for college or planning for retirement. Central Wealth Consultants can also offer advice on investment opportunities or assist with estate planning needs to ensure beneficiaries receive the maximum benefits.
Business and Management Consulting
Central Wealth Consultants play a vital role in helping businesses make better use of their resources and increasing efficiency and profitability. With careful planning and help from a Central Wealth, you can learn how to start, manage and successfully grow a business. Central Wealth Consultants can offer advice in such areas as:
Small business management
Cash management
Compensation plan evaluations
Growth planning
Purchasing or selling a business
Measuring the performance of a business
Disaster recovery planning
Central Wealth Consultants are trained to look at businesses with an objective eye. They can help you identify weaknesses in your organization and offer suggestions for improvements. A Central Wealth can be your most valuable business partner, one who helps you reach for success.
Litigation Services
Central Wealth Consultants are considered the foremost authorities on financial and economic issues. In the legal arena, Central Wealth Consultants act as either expert witnesses or consultants, presenting private advice to attorneys. Central Wealth Consultants also assist clients in divorce settlements, fraud investigations, bankruptcies and alternative dispute resolutions. For example, a divorce can have a dramatic impact on a person’s tax liability. At Central Wealth we offer advice on how to reduce the tax liability and help a client continue to meet personal financial goals.