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Archives for Finances

How a CPA Can Help Businesses and Individuals Find Financial Success

A CPA prepares tax returns, but that’s only a fraction of their capabilities. A CPA can be a versatile asset for any individual or business with the goal of a secure financial future.

 

On the personal financial front, you may need advice on transferring assets to loved ones, paying less in taxes and planning for a big purchase, like a home. On the business side, you may need guidance on securing loans, hiring new employees or weathering a tax audit. In both settings, depend on your CPA.

 

If there’s a complicated financial problem in either your personal or professional life, chances are good that a CPA can help. If you simply want to measure and maintain fiscal health, a CPA’s services support those efforts as well.

 

CPAs Are Highly Qualified Professionals You Can Trust

 

To gain a CPA license, the candidate is required to earn advanced degrees and pass a battery of tests. Once licensed, they are then required to keep those qualifications up-to-date with continued professional education in highly specialized topics.

 

In the financial realm, complications abound. Since CPAs are educated and trained in-depth to handle these complications, you can trust that the solutions they bring are authoritative and trustworthy.

CPAs Can Offer a Financial Strategy for Life and Work

 

Families grow. Businesses grow. In either situation, or if both are happening at the same time, you need a plan.

 

When you think about forming a financial strategy for your family or your business, doesn’t it make sense to start the discussion with a professional who can go in-depth on your income and taxation picture? Your accounting team at Robert L. Coval, CPA can settle your immediate tax issues and help you plan for years in the future.

 

At our initial client consultations, we focus on these three questions:

 

  1. What is your current situation?
  2. Where do you want to be?
  3. How will you get there?

 

We sit down and examine your entire financial position to help you understand what’s going on right now. Then it’s time to map out your goals. With your present circumstances and future vision in mind, we offer the hand-holding necessary to enable our clients’ success. Together, we find the most beneficial path forward.

 

Everyone Benefits from a CPA’s Expertise

 

At our firm, we specialize in helping business owners meet and exceed financial goals, but we always tailor our services to you. Whether you own multiple properties, want to start a business, want to maximize tax deductions or any other scenario, our team is ready to talk. Let’s take the first step towards your end goal today. You work hard to earn your money, and our team at Robert L. Coval, CPA works hard to help you keep as much of it as possible.

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forensic accountant

How Does a Forensic Accountant Help in a Divorce Case?

Divorce is complicated. Two parties are trying to divide property, debts and other assets and they often don’t want to be amicable. Even “simple” divorces are not so simple.

The challenge gets even harder when an intricate financial portfolio is in the picture. How do you divide stock options, deferred compensation, businesses, partnerships, retirement, insurance and other complex assets? More importantly, how do you ensure everything is on the table so that it gets divvied up fairly?

That’s where a forensic accountant comes in.

 

A Forensic Accountant Helps Your Attorney

Attorneys – even seasoned divorce attorneys – are not financial experts. It may seem unlikely that your legal representation would miss something, but employing a forensic accountant to aid them can ensure that nothing gets left out of the financial picture.

When preparing document requests, a forensic accountant will help your attorney get the right answers. After a subpoena, they can analyze the financial information gathered. When preparing for deposition or trial questions, your attorney has a reliable resource to tell them what to ask.

 

They Can Testify in Court or at Depositions

If you’re dealing with complex assets or an involved financial matter, a forensic accountant can testify on your behalf about specific issues. In many cases, this is a favorable alternative to being questioned or cross-examined by the opposing counsel yourself.

 

They Make Sense of All the Details

If you’re looking at dividing the value of a business, a forensic accountant will ensure a fair split between the two parties. A forensic accountant’s skill set includes being very analytical, detail-oriented, and ethical, and they also have effective communication skills.  A forensic accountant is incredibly helpful when there are assets that must be split by determining a definite value. There are many details that can be uncovered and analyzed to ensure all the income and assets are shared.

 

They Can Uncover Hidden Assets or Income

Not everyone is forthcoming with their finances in divorce, especially if they’re likely to lose a good portion of it in the proceedings. When one party is attempting to hide bank accounts, owned property, or even extra-marital relationships, a forensic specialist can help attorneys wade through the information and find elements that the divorcing client may not know about.

Forensic accountants are trained to look at records and see not only what’s there, but what the other party is withholding. They may uncover under-reported income, fake debts, dummy corporations, or padded payrolls that obfuscate the financial picture.

In cases where a divorced partner reports an inaccurate or fraudulent financial record, your divorce team will have a resource to reconstruct their income to help you negotiate your settlement. Without a forensic accountant, valuable assets may be missed.

 

Don’t Miss Out on What You’re Owed

Post-divorce life has many uncertainties, but your finances shouldn’t be one of them. Contact the team at Robert L. Coval, CPA to learn more about how our forensic accounting services can help you settle your divorce fairly.

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