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Case Studies

 

Helping Business and Individual, Tax and Accounting Clients

 

Throughout our firms existence in the Plymouth Canton area we have developed relationships and gained experience with our clients to help them match their accounting services to their specific needs. The following case studies provide evidence on how we assist them in meeting those needs and delivered services beyond their expectations.

 

Financial Statement Audits

Audits are the highest level of assurance services on financial statements, and companies undertake this level for reasons ranging from of requirements regulatory agency, to the desire of a company’s shareholders having assurance that the operations of management are being properly implemented.  The benefits that management can receive from the process can be startling.  One of our clients who was having an audit performed for a state educational regulatory body was so impressed by the depth of the management inquiries made that, through our help, they have developed streamlined procedures and additional checks and balances in their control environment.   His comment to us centered on how the auditors asked questions he had never thought of but were perspectives he should be looking at and on how that without the required audit and the additional management letter suggestions he would not have seen some of the inherent weakness which existed in his organization.

 

Late Filed Tax Returns

Helping clients discover solutions which they never considered is part of the inclusive approach Schultz and Associates, PLC takes when looking at any situation.  We have a client who had gone multiple years without filing his required business and personal tax forms.  In coming to our firm, he was not looking for a way to avoid his tax burden, but wanted to get in good standing with the government for other personal and financial reasons.  Through our review we discovered that they were eligible for an amnesty program through the State of Michigan saving him significant dollars in penalty.  By working through IRS agents, our professionals were able to reduce some of the past penalty from filing the multiple tax year forms in a strategic way.  Where it is appropriate, we work with the IRS on offer and compromise situations, or help our clients set up payment plans they can live with to satisfy their past obligations.

 

The Global Economy Has Local Roots

With the expansion of technology at our fingertips, global opportunities for business are closer than ever.  Schultz and Associates, PLC has dealt with US companies that have foreign ownership on numerous occasions.  Our firm has helped these local companies meet their international demands through monthly reporting with the foreign ownership, preparation of government mandated tax forms, and helped with local decisions such as the best retirement plan options for their situation.

 

Consolidated Tax Returns  Accomplish Multiple Goals

At Schultz and Associates, PLC, our clients come to us for more than the preparation of tax returns. Recently, one of our clients came to us with multiple real estate ventures and was looking for the best way to keep all of his properties protected.  Through setting up consolidated partnership, our firm was able to accomplish all of the real estate liability concerns that the client had, as well as reducing the amount of tax forms which needed to be filed, giving the added benefit of reducing the accounting fee in the process.  In setting up this organization, we help keep open future options for those real estate holdings such as IRS code section 1031 like kind exchanges, and the ease of sale between entities with limited tax implications.

 

Canton Tax Return

 

Helping Business and Individual, Tax and Accounting Clients   Throughout our firms existence in the Plymouth Canton area we have developed relationships and gained experience with our clients to help them match their accounting services to their specific needs. The following case studies provide evidence...
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