Our services let you focus on growing your business
No matter where you are in your business lifecycle, you need to surround yourself with trusted advisors who not only know your business but care about it as much as you do. At TPS Thayer, we take care of what makes your business more effective, efficient, and valuable. We cover your blind spot while you do battle in the marketplace. Call us and let us create a plan to meet whatever challenges you face, both now and in the future.
Audit & Assurance
Click the links below to learn more about Audit Services
Audits give you and your stakeholders a reasonable level of assurance
An audit provides a reasonable level of assurance for stockholders, creditors, and private investors.
We’ll review internal controls, test selected transactions, communicate with third parties, and based upon our findings, issue a report on whether the financial statements are fairly stated and free of material misstatements.
What an Audit Does
- Satisfies stakeholders such as employees, customers, suppliers, and pressure groups, as well as the investing community, as to the credibility of published information.
- Facilitates the payment of corporate tax, goods and services tax, and other taxes on-time and accurately, thereby avoiding interest, penalties, and investigations.
- Complies with banking covenants.
- Helps deter and detect material fraud and error.
- Facilitates the purchase and sale of businesses.
What a TPS Thayer Audit Delivers
With TPS Thayer, you get a reasonable level of assurance because we go outside your company to obtain more information. Typically, we’ll communicate in writing with:
- Your Customers: to check outstanding receivable balances
- Your Banks: to confirm cash or debt balances and terms
- Your Vendors: to verify outstanding payable balances
- Your Attorneys: for information on pending or threatened legal action.
We also perform physical inspections by observing your inventory counting methods and by performing test counts. Then, we document and test each operating cycle, including:
- Sales and cash receipts
- Expenses and cash disbursements
Our audit papers include a detailed work program to document the examinations and tests performed and the client’s supporting work papers.
The Trusted Financial Advisors You Need in Your Corner
Trust is the key attribute our clients have in us because we approach every client as a trusted business advisor. Advisory services are solution focused and the lifeblood of what bonds us to our clients and establishes and maintains the level of trust that they have in us.
Industry Specific Consulting
Our professionals have expertise in several industries and healthcare is the industry in which we excel. We assist medical groups and other healthcare providers in implementing change management processes including practice assessments to determine where operations efficiencies need to be applied, benchmarking, and implementation of physician compensation plans.
Data Analysis and Continuous Fraud Auditing
We use various powerful data analysis tools to provide continuous auditing oversight to minimize the risk of fraud, embezzlement, or other financial irregularities in our client’s business operations.
Write-up services are out, accounting oversight is in. Having your CPA enter transactions and reconcile accounts to produce financials or prepare tax returns is inefficient and too expensive. We provide a standard process and only accept clients that adhere to that process. Transactions are entered by your staff, on your GL software system, QuickBooks Online, or other cloud-based system.
Bank accounts are enabled for electronic banking and transactions download daily to the system. We access the GL at month end, tie in control totals, make recurring journal entries and deal with non-recurring transactions. We compile the financial statement and review them with management providing an efficient, affordable financial reporting system.
Consulting & Financial Reporting
Forensic, Valuation, & Litigation Support
We apply the right method to find the right valuation for your business
Valuation is a complex process demanding highly specialized skills and extensive knowledge of accounting, finance, economics, and business. Our insight and experience allow us to provide a quality product that fully satisfies our clients’ needs.
Our valuation & litigation support practice provides services in the following areas:
- Medical Practice Valuation
- Family Limited Partnerships
- Estate and Gift Tax
- Bankruptcy Proceedings
- Litigation Support & Expert Testimony
- Strategic Business Consulting
- Buy / Sell Agreements
- Real Estate Appraisals
It is critical to determine the purpose of the valuation and what the practitioner will include in the estimate of value. This determination shapes the choice and application of valuation methods because different approaches and concepts may be more appropriate for different purposes.
You want a seasoned expert with the training and expertise to apply an appropriate methodology and de-rive a reasonable and supportable value.
Whether the situation demands financial valuation, litigation support, or business consultation, TPS Thayer provides insight and guidance to lead you through the critical decisions in the most challenging moments.
Outsourced Accounting and Financial Statement Preparation
Entrepreneurial businesses often reach a point where they need accounting oversight and someone to take on the burden of daily accounting tasks but can’t justify the cost of a full-time CFO or controller. When you reach that point, outsourced accounting services can give you back your time and help you make informed decisions.
We standardize the processes involved with the accounting functions of a small business. Our structured outsourced accounting services are uniquely tailored to keep your cost down but maximize the accounting expertise you need to run your business.
We provide high-caliber, uniquely talented CPAs with a proven track record to accelerate results, reduce overall cost, and minimize risk
In addition to our talent delivery services, we can offer leadership advisory and thought leadership services to help financial executives enhance clarity, prioritization, and innovation.
- Accounting & Bookkeeping
- Budgeting & Forecasting
- Corporate Governance Services
- Divestitures / Carve-Outs
- Financial Reporting
- Financial Restatements
- GL / Month-End Close
- IPO Readiness
- M&A Integration
- Management Reporting
- Process Improvement
- Project Management
- SEC & Other Regulatory Reporting
- SOX / Internal Audit / Controls
- System Implementation
- Technical Accounting
- Transaction Accounting
- Treasury Functions
Client Accounting Services
We Know Taxes
Our tax professionals understand the ever-changing federal tax code and how it impacts both you and your business. We can help you stay compliant and consult with you on the best approaches for managing your liability and plan for the future.
We help our clients comply with federal and state tax reporting requirements. Using the most efficient procedures designed by our Tax Services Group, we keep you connected during the compliance reporting period to make data collection faster and streamline the return preparation process. We help you plan for next year’s federal tax payments while completing your current year’s return.
Tax planning is the most vital service our Tax Services Group provides and managing a tax liability on time sets us apart from other CPA firms. We implement creative strategies to optimize our clients’ tax situation. From initial planning to complicated accounting methods, we are focused on our client’s needs.
Tax Consulting Focus Areas:
- 1031 tax-free exchanges
- Succession planning
- Net operating loss utilization
- Entity formation
- International assistance with US tax laws
- Compensation planning
Business and Individual Tax Services
Tax planning should be an essential facet of your complete financial planning process. We have highly experienced tax professionals who can help you minimize your tax liabilities and defer taxes.
From immediate concerns to long-term planning, we can help you establish an individually tailored approach to tax and financial planning that considers the complete picture of your company’s or family’s financial status and goals.
Business Strategy & Tax Planning
We provide our tax clients with strategies and opportunities for minimizing their federal and state tax burdens. We routinely advise our clients on the tax implications of entity selection and organization structure, strategies for deferring income or accelerating deductions for tax reporting purposes, and the management of nexus and state tax reporting issues.
We assist in the following business transactions:
- Estate planning
- Cost segregation analyses
- Mergers & Acquisition
- Closing your entity (Succession Planning)
- Debt restructuring
If the IRS contacts you, you need to have representation by knowledgeable and respected professionals who understand IRS practices and procedures. We are experienced in the following areas:
- Representation before IRS
- State taxing agencies
- Payroll tax controversy
TPS West - Bankruptcy Services
- Insolvency Related Matters
- Forensic Accounting
- Fiduciary Services
- Dispute Resolution
- Trust Accounting
- Receivership Accounting
- Monitoring & Controlling Operations
- Federal Taxation
- State Taxation
- County Appraisal District Valuation Protests
- Business Appraisals
- Business Valuations