Our firm offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.
As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.
Our financial services to individuals include:
ESTATE TAX PLANNING DESIGNED TO ELIMINATE THE ENTIRE ESTATE TAX (FEDERAL AND STATE)
PERSONAL FINANCIAL PLANNING
REPRESENTING CLIENTS UNDER FEDERAL, STATE OR CITY TAX EXAMINATION
ASSET ALLOCATION PLANNING
INSURANCE REVIEWS TO DETERMINE THE RIGHT INSURANCE COVERAGE WITH THE LOWEST COST
STRUCTURING SETTLEMENT AGREEMENTS IN MATRIMONIAL DISPUTES
PREPARING ESTATE, GIFT AND TRUST TAX RETURNS
PREPARING INCOME TAX RETURNS
Business and Individual Services Specialty
Consulting and Planning for Businesses
Rayfield & Licata caters to family owned businesses, foreign owned, domestic businesses and the individuals that own or work for them.
Planning is key to achieving the individual client's business goals. With this in mind, the objective of our consulting and planning efforts is the delivery of outstanding services to our clients in response to their unique needs. Each engagement is structured, planned and staffed to address its specific requirements.
A full range of professional services are offered including:
PROFIT ENHANCEMENT PLANS
SYSTEM DESIGN, including internal control strengthening and forms design
COST REDUCTION PROGRAMS
BUYING AND SELLING OF BUSINESSES
DETERMINING THE PRIORITY OF POTENTIAL BUYERS OR SELLERS
TARGETING ON A PRIORITY BASIS POTENTIAL ACQUISITIONS OR SALES
DETERMINING THE PRICE FOR THE ACQUISITION OR SALE
STRUCTURING THE TRANSACTION, from both a tax and business standpoint
VALUING THE ACQUISITION OR SALE
Auditing and Accounting
Auditing is a sophisticated process developed by the accounting profession for the examination of financial statements. It consists of gathering and evaluating evidence to test the conformity of the statements with generally accepted accounting principles. An audit offers investors and creditors reasonable assurance that the statements present a fair portrayal of the company's financial position, results of operations and cash flows in conformity with those principles.
Audits are by no means exclusively for large publicly held companies. The financial statements of many small and closely held companies are audited regularly. Audits add credibility to financial statements and provide assurance, especially to potential banks or other creditors or investors. Audits also provide information that is important for management decision making.
In addition to audits, we offer review and compilation services. In performing reviews, we apply analytical procedures to a company's financial statements and make certain inquiries of management. Review procedures, which are substantially less comprehensive than those performed in an audit, enable us to express limited assurance on conformity of the financial statements with generally accepted accounting principles. In a compilation, we put financial information supplied by the client into the form of financial statements but do not express any assurance on the statements.
Legal Profession Services Specialty
Estates and Trust Specialty
Many attorneys have determined that outsourcing estate and trust planning and preparation is timely and cost effective. Our specialty also encompasses
ESTATE AND TRUST ADMINISTRATION
ASSET PLANNING AND ADVICE
FEDERAL AND STATE TAX EXAMINATIONS
Our expertise in this area has enabled us to work in conjunction with attorneys on an outsource basis.
Forensic Accounting Specialty
Forensic accounting applies in all matters in dispute when money is involved.
More and more today, attorneys rely on certified public accountants to provide them with supportable conclusions in any and all situations involving the need to substantiate and determine amounts of money. The accountant is invaluable in defining key issues and determining what documents and information should be sought in discovery; reviewing all relevant information and providing studies and projections. Then, the accountant may be called upon to determine the strength or weakness of the evidence, help to depose the opposition's witnesses and even testify in court as an expert witness.
Some of the areas where an attorney should rely on an accountant include:
BUSINESS AND ASSET VALUATIONS FOR BUY/SELL AGREEMENTS, DISPUTES, ETC.
STRUCTURING SETTLEMENTS IN MATRIMONIAL AND BUSINESS DISPUTES
ESTATE AND TRUST SETTLEMENT AND PREPARATION OF RELATED FINAL TAX RETURNS
BUSINESS INTERRUPTION DAMAGE SUITS
CHANGE ORDERS AND ANALYSIS OF CLAIMS
PERSONAL INJURY CASES
COPYRIGHT AND PATENT INFRINGEMENT CASES
Often legal matters are fraught with complicated financial issues. These are handled best by the expertise of a certified public accountant.
Other Specialties We Provide Are:
AUDITS, REVIEWS AND COMPILATION SERVICES ESPECIALLY FOR FOREIGN OWNED, DOMESTIC ENTITIES AND NOT-FOR-PROFIT ENTITIES
AN ARRAY OF SERVICES AS SPECIALISTS TO FAMILY OWNED BUSINESSES
STATE NEXUS QUESTIONS TO ELIMINATE OR REDUCE STATE TAXES
PROFESSIONAL, INNOVATIVE HANDLING OF FEDERAL AND STATE TAX AUDITS
TAX PLANNING AND PREPARATION TO THE LEGAL FIRM AND TO ITS PARTNERS
SINGLE AUDIT ACT REQUIREMENTS