Services

William Polk & CompanyAt William H. Polk & Co., CPAs, the careful management of your finances is our top priority. We pride ourselves on giving you personalized and thorough service that meets your business or individual needs.

We provide a full range of tax and accounting services for our clients and offer consulting services for special needs.

Tax Services

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. Tax partner and specialist involvement ensure that our clients receive the most experienced technical expertise we have to offer. Preparation of federal, and state  tax returns is the core of our tax services. High-levels of technical and industry specific expertise allow our tax professionals to ensure our clients’ tax returns are prepared efficiently and timely.

We offer the following tax services:

  • Federal and State Business Tax Services
  • Federal and State Individual Tax Services
  • Estate and Trust Tax Services
  • Audit & Appeal Representation
  • Tax Updates

Looking for a little information right now? View the latest Tax and Financial News article in our Newsletter.

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Audit, Review and Compilation Services

Audits

William H. Polk & Co., CPAs, performs audits of governmental, non-profit organizations and privately held entities.

Audits are usually performed because an outside third party requires an auditor’s opinion on the financial statements.  Audits are performed for the purpose of expressing an opinion about whether the financial statements are fairly presented and conform with generally accepted accounting principles or another financial reporting framework.

Audits are the most comprehensive of all the attest services.  Auditing procedures include testing accounting records and examining evidence supporting the amounts and disclosures in the financial statements.  Evidence is obtained through inquiries, analytical procedures, physical inspection, observation, and through independent confirmation. Additionally, audits require an understanding of the entity and its internal controls.

Reviews

Reviews are usually performed to satisfy third parties that want to be assured that the independent accountant is not aware of any material modification which should be made to the financial statements.  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 the financial statements services.  They are often required by outside third parties as well 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 acquire an understanding of the client’s industry and to obtain specific knowledge about the client prior to our reading of the financial statements.  They provide no expression of an opinion or any assurance 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 want 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 a diverse variety of subject matter such as the quality of collateral or due diligence related to a business acquisition. In all cases, agreed upon procedures are solely the responsibility of the parties who specify them and they never provide an opinion on the subject matter or financial statements.

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Peer Review Services

Our company has long been concerned with quality services, and joined the AICPA's Private Companies Practice Section in 1980. This was several years before it became manditory for firms offering attestation services to subject themselves to an outside review of their quality. We assist other CPA firms in this area by offering to perform peer reviews on their attestation practices.

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Business Services

Many clients depend on William H. Polk & Company to provide them with basic accounting and reporting services on a regular basis. This is of particular benefit for the small business owner or growing business as it provides our clients with a cost-efficient method for obtaining basic accounting information, while also receiving our counsel and expertise on all aspects of financial management.

Due to the familiarity with all aspects of a client's business, we are able to identify and solve many business problems before they become major concerns. William H. Polk & Company knows that well organized financial records ensure that your business operations will run more efficiently.

We offer the following business services:

  • Bookkeeping (Monthly, Quarterly, Annually) - Bank Reconciliations, Sales Tax Filings, Other Tax Filings
  • Computerized Payroll Processing - check or direct deposit
  • Cash Management - Accounts Payable management and bill paying
  • General Ledger Preparation -- The "core" of your company's financial records
  • Payroll Tax Preparation and Reporting - 941, 940, State Unemployment, State Withholding, W-2s, 1099s

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Miscellaneous Services

Our company offers computer consulting services, including asistance in evaluating and installing software, including QuickBooks. QuickBooks software has become the software of choice for many small businesses. While QuickBooks is designed for the layman to understand, the initial setup and installation must be done correctly in order for future information to be accurate. Several of our staff members are extremely knowledgable in QuickBooks and are available to assist you with this setup and support.

We are also ready to help you with other financial or tax questions. 

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. 

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