Our Services
At Mahoney & Gotto Company, the confidential management of your business and individual needs is our top priority. We pride ourselves on giving you personalized and thorough services that meet your level of expectation and professionalism.
We provide a full range of tax and accounting services for our clients and offer consulting services for special needs.
Tax Services
At Mahoney & Gotto Company, we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients with excellent service. All tax professionals regularly attend continuing education classes to ensure that our clients receive the most experienced technical expertise we have to offer.
We offer the following tax services:
Federal and State Tax Services
Tax Return Compliance
Preparation of federal and state income tax returns is the core of our tax services. High levels of technical and industry-specific expertise allow our tax professionals to ensure our client's tax returns are prepared efficiently and timely.
Accounting Method Reviews
We review businesses’ tax accounting methods for strategies to maximize income tax benefits.
Audit & Appeal Representation
We possess the expertise and experience to represent taxpayers before tax authorities. Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain the most favorable results.
State and Local Tax Specific Services
Nexus Consulting and State Tax Liability Analysis
We can help you understand and navigate where your business is required to file and pay state and local taxes based on multistate activities. Additionally, we will make recommendations on where to file and quantify potential tax liabilities associated with various state and local jurisdictions.
Sales and Use Tax Determination
We can assist you in understanding the sales and use tax consequences of specific transactions and ensure you meet any filing requirements.
Tax Planning Services
Federal and State Income Tax Planning
We assist businesses with all aspects of federal and state income tax planning. This includes implementing federal income tax strategies that maximize savings, increase profits and manage cash flows. Our team understands state and local regulations in ways that allow us to create solutions that mitigate state and local tax liabilities.
Other Tax Services
Accounting for Income Taxes
Financial accounting for income taxes can be complex. Our professionals have the technical skills and experience to help our clients navigate through these complex requirements and create efficient income tax accounting and reporting. We also help companies stay up-to-date with regulatory guidance and disclosure requirements. The services we offer allow our clients to minimize year-end surprises and reduce risk related to reporting. These services include:
- Calculation of tax provisions
- Analyze current and deferred taxes
- Prepare financial statement footnote disclosures
Tax Updates
We keep our clients up-to-date on the latest federal and state tax issues through newsletters, website postings and face-to-face meetings. By staying ahead of tax issues and we can communicate how they will impact your operations quickly and address them in a timely manner.
Individual Tax Services
When it comes to individual taxes, change provides opportunity. We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities. You can depend on us for objective guidance and personal attention. We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.
Accounting Services
Reviews
Reviews are usually performed to satisfy third parties that want to be assured that the financial statements are not materially misstated. They provide a lesser degree of assurance to financial statement users than an audit. Also, unlike an audit, there is no expression of an opinion on the financial statements, testing of controls, or financial data. Reviews essentially consist of inquiries of company personnel and analytical procedures applied to financial data.
Compilations
Compilations provide the lowest level of assurance of financial statement services. They are often required by outside third parties as well as internally by companies.
In a compilation, we assist management in presenting their financial information as financial statements in the proper form. Compilations also require us to understand the client’s industry and obtain specific knowledge about the client. Additionally, we read the financial statements and ensure they are free from obvious material errors. They provide no expression of an opinion on the financial statements.
Agreed Upon Procedures
Agreed-upon procedures are performed when the parties involved concur that they want the accountant to perform a specific procedure or set of procedures. They can be useful when you or a third party wants some comfort about a specific area such as inventory or cash but do not need the assurance and related time and expense of a full audit or review. Agreed-upon procedures can deal with various subject matters, such as the quality of collateral or due diligence related to a business acquisition. In all cases, agreed-upon procedures are solely the parties' responsibility who specify them, and they never provide an opinion on the subject matter or financial statements.
We can manage all your accounting and bookkeeping needs, from data entry to financial reporting. Our accounting services accurately track your revenue and expenses, providing up-to-date accounting information and valuable insight into your business's financial health.
Accounting
Our accounting services can include everything from data entry to bank account & credit card reconciliation - we can even manage your bill pay & payroll. You can rely on timely and accurate accounting information and always know where your business stands.
Here is a listing of accounting services we can provide:
- Bank Account Reconciliation
- Tracking fixed asset acquisitions and disposals, including keeping depreciation up-to-date
- Payroll processing, including periodic payroll processing as well as federal and state tax reporting
- Month End close general journal entries
We can also provide financial reporting packages, which can include some or all of the following depending on your needs:
- General Ledger report
- Income Statement
- Balance Sheet
- Reconciliation Reports
- Custom reports – specific to your needs
Visit our set of Financial Calculators for quick answers on topics such as your IRA, investments, your child's college tuition, and your mortgage or credit card calculations.
Consulting Services
At Mahoney & Gotto Company, our business is to know and understand specific situations as they occur. We offer services beyond compliance and combine our experience, expertise, and knowledge to add value as trusted professionals.
We offer the following consulting services:
Accounting Processes
Every organization can benefit from being introspective, dubious, and analytical regarding its finances. We work with organizations to provide a means to record and process your accounting transactions to obtain the maximum output of financial information to develop the predictive capabilities necessary to adapt to rapid changes as it relates to each industry. Specifically, we can help you with:
- Accounting software installation and set-up
- Accounting practices to provide accurate tax and financial information
- Effectively manage financial output to identify sources and improvements to mitigate rapidly changing industries.
Business Planning
- Analysis of buy and sell agreements
- Purchase or sale of a business
- General business planning