Our firm offers a wide range of services to our individual and business clients. Our clients benefit from personalized, quality service that is beyond comparison. 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. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. Our knowledge of business, accounting, financial and tax issues is invaluable in litigation support. We can assist legal counsel to identify the records and documents needed to prepare a case as well as provide analysis of that information. Should a particular case progress to the courtroom, Hisle & Company provides expert witness testimony. We have experienced competent staff whom can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Expert Witness Services
Pending or existing litigation can result in the need for a qualified professional to present his/her opinion to support or oppose evidence submitted to the court. Our level of competence allows us the opportunity to function as expert witnesses in such cases. The need for an expert witness generally arises when there is a dispute involving the area of accounting expertise. We may be called upon to perform economic fact finding, prepare a tax analysis, help take the deposition of the other party’s expert witness, suggest avenues of inquiry, help interpret documentation, and assist in eliciting information from other witnesses. We have been engaged by judges, attorneys, and litigants to assist in legal matters in federal, circuit, and bankruptcy court within Kentucky as well as before the American Arbitration Association. We have consulted and testified on a variety of issues, including business valuation, financial damages, accounting malpractice, business capitalization, and insolvency.
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 will work with you as a trusted business advisor and enter into a long lasting business relationship. Audits differ from reviews and compilations, as they are an intensive examination of your company's systems and records providing the highest level of assurance. Hisle & Company offers full audit services to a wide variety of businesses and non-profit organizations. We audit manufacturing companies, retailers, automobile dealerships, lessors of mineral rights, building supply companies, homeowners’ associations, and agencies of state and local governments. Our client is best served when staff remain assigned to accounts rather than being rotated every year or two. This allows staff members to become very familiar with both the client’s business and personnel and to build the relationships that are important in advising the clients.Hisle & Company provided reviews and compilations for clients not needing audit services. Though more narrow in scope, these engagements receive the same level of professionalism and care.
Reviews & 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 two levels 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 will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.
We use accounting and auditing skills to provide an analysis of financial records in conjunction with dispute resolutions, as well as fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.
We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions.
Cash Flow & Budgeting Analysis
A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company's financial condition, estimate financing requirements, and track cash-flow sources and uses.
In these days of higher taxes and fewer deductions, the timing and structure of certain transactions can mean the difference between paying your fair share and paying too much. 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 new developments in the tax laws to minimize both your current and future tax liabilities. Examples of matters on which we provide tax planning advice are: Estate and Gift Taxes, Retirement Plans, Acquisitions, Partnerships. The professionals at Hisle & Company have the knowledge and experience to help clients make well-informed decisions.
Our tax professionals provide tax planning advice and return preparation. Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
As a business grows, it must hire more employees, which 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 also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
Sales Tax Services
Many of our clients are responsible for collecting and submitting sales taxes 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.
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.
Accounting Software Selection & Implementation
With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you has become increasingly difficult. As accounting professionals, we are exposed to most programs through trade journals and actual use. Our experienced staff can help you choose and implement the system that best fits your needs.
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 can assist you in developing a strategically sound plan.
Whether you are thinking of buying a new business or in the midst of a difficult divorce, the amount attached to the value of your business is important. Our experienced team of valuation analysts have over 100 years of combined valuation experience. DeWitt Hisle is the partner in charge of the Valuation and Litigation Services Group of Hisle & Company; he and his team of valuation analysts have been responsible for a variety of valuation engagements including: Buy-sell agreements, divorce and marital dissolution, buying a business, sale or liquidation of businesses, medical and dental practices, corporate mergers and acquisitions, earnings capacity, shareholder disputes, gifting purposes, and estate tax issues. We can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest. We adhere to the strictest guidelines regarding independence, integrity and objectivity, accounting principles and confidentiality of client information. A detailed report will be provided that documents the approaches/methods utilized, research, sources, computations, and reasoning that supports our analyses, opinions and conclusions. We use the approved and recommended formatting suggested by the National Association of Certified Valuation Analysts (NACVA), Uniform Standards of Professional Appraisal Practice (USPAP), American Society of Appraisers (ASA), and International Business Appraisers (IBA).
Buying & Selling a Business
Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent staff has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations.
Whether you are contemplating the addition of new computer hardware or overhauling your network, our experienced staff can assist you with many of the difficult decisions that must be made when designing your business' computer systems. We can determine your needs and assist in implementing the equipment, and we design control procedures and train your staff on any of several accounting systems, thus, preventing dissatisfaction with a new computer system.
Fraud Prevention & Detection
We use accounting and auditing skills to provide an analysis of financial records in conjunction with fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.
Effective estate 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.
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.
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs…) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.
As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor build an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.
Business Entity Selection
Choosing an appropriate legal entity is a principal consideration for any business, whether the business is existing or a new business. The form of entity of your business (e.g. "S" corporation, sole proprietor, limited liability company, general or limited partnerships, limited liability partnerships, and sole proprietorships) is a crucial decision that can have longstanding tax implications, positive or negative. Each type of entity has various advantages and disadvantages. Understanding the total tax situation is essential in determining the choice of entity. 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.
Insurance Claims Support Services
Our team has had specialty training in insurance claims support and holds the Certified Forensic Insurance Specialist (CFIS) designation. Our insurance claims department provides specialized services in insurance claims analysis, forensic accounting, fraud auditing, business valuations, damage calculations, and litigation support. We can assist you in matters such as:
- Determining lost profits and earnings.
- Determining the amount of cash, inventory, or other property lost as a result of burglary, employee theft, or fire.
- Determining if a financial motive exists in arson investigations.
- Calculating and applying complex policy provisions to the loss (i.e. co-insurance, reporting forms, etc.).