Business Advisory

Three levels of CPA involvement. A compilation presents management’s numbers in proper financial-statement form with no assurance. A review adds inquiry and analytical procedures for limited assurance. An audit adds verification, transaction testing, and third-party confirmations, and carries a written opinion. Whoever is asking for your statements usually specifies which one they need.

Most lenders name it outright: compiled, reviewed, or audited financial statements. If yours has, the engagement is scoped to that level; if the request is unclear, a quick conversation settles it before any work begins — enough assurance to satisfy the requirement without overbuying it.

The firm’s own audit and assurance practice, directed by Logan Park, CPA. The work stays in-house from engagement letter to finished statements — it is not referred out — with David across the table for the decisions that follow from the numbers.

Usually, yes; the honest variable is the condition of the books. The first conversation establishes where the records stand and what the timeline allows; if cleanup is needed first, you will know the sequence and the fee before anything starts.

Every engagement is quoted to its actual scope (entity count, statement level, condition of the books) after the first conversation and before any work begins. The fee is set in the engagement letter, not discovered on the invoice. The first consultation is free.

Yes. Reviews and audits for not-for-profit organizations are part of the assurance practice. Day-to-day non-profit work — Forms 990 and 990-T, books on non-profit classifications, and 501(c)(3) applications for new organizations — lives under Tax & Accounting.

Typically when profits rise well past a reasonable owner salary, so distributions can escape self-employment tax. The election has a strict filing window (Form 2553), payroll obligations follow it, and the math differs by state, which is why the projection comes before the paperwork.

Under Tax & Accounting: monthly books, financial statements, and business and personal returns. Advisory carries the statements that need assurance — compilations, reviews, and audits — and the formation decisions that don’t fit a filing calendar.

The business is usually the owner’s largest asset, and advisory decisions (compensation, distributions, entity changes) eventually land in the portfolio. Because David also serves as an investment adviser representative, the company’s plan and the owner’s plan are written against each other, not discovered in sequence.