Even with an accounting team on the payroll, there are still times when getting help from an independent Accountant in Manhattan makes sense. Professionals of this type can help in a number of settings in a way that others cannot. Here are some examples of situations that call for arranging some outside help.
Preparing for a Tax Audit
A tax agency has made it know that there is some question about some of the financial transactions associated with the company, up to and including a few of the deductions. While the accounting team can likely handle these matters, it never hurts to get advice from someone outside the firm. Taking the matter to an independent Accountant in Manhattan and providing full access to the accounting records will often reveal that the issues spotted by the tax agency are nothing more than postings that could have been managed with more care.
Selling the Business
The owner has decided to retire and would like to sell the operation to someone who wants to keep it going. Before putting the company on the market, it pays to have a full audit of the company resources and assets conducted. Choosing to use an independent firm for the purpose will ensure any prospective buyers that nothing is hidden and what they see is indeed what they will get if the purchase does take place.
Liquidating a Company
Continuing to operate the business is not viable due to changes in the economy. Rather than trying to keep it afloat, the owner decides to liquidate the assets, pay off any debts owed by the business, and then start fresh. In order to manage this process, it helps to have an accountant go over all the financial records and ensure there are no discrepancies about amounts owed and any remaining receivables that could help settle the debt.
For help with any type of accounting issue, visit us today and arrange to meet with a professional. After explaining the situation, it will be easy to formulate a plan of action, conduct a complete review of the financial records, and determine exactly where the client currently stands.
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