Services

                                             MCNEAL AND COMPANY, CPA's

TAXES ~ ACCOUNTING ~ BOOKKEEPING/PAYROLL ~ BUSINESS CONSULTING ~ FINANCIAL SERVICES 

 TAX


Tax knowledge and planning are the cornerstones to building and holding onto wealth.  McNeal and Company offers the following tax services for our clients:

  • Income Tax Planning
  • Income Tax Return Preparation including electronic filing
  • Retirement Planning
  • College Planning
  • Financial Risk Assessment


McNeal and Company expertise includes:

  • Federal Estate Tax Returns (Form 706)
  • Fiduciary Income Tax returns for Estates and Trusts (Form 1091)
  • Corporation Income Tax returns (Forms 1120 and 1125) 
  • Partnership Income Tax returns (Form 1065)
  • Tax management 
  • Estate conservation  

ACCOUNTING

 

McNeal and Company is the only accounting firm in Tipton County authorized by the American Institute of CPA's peer review program to prepare both:

  • Compilation Financial Reports and Reviewed Financial Reports

Compiled Financial Statements

Compilation of Financial Statements is the result of presenting in the form of financial statements information that is the representation of management (owners) without undertaking to express any assurance on the statements.

Compiled Financial Statements include footnotes unless management elects to not to include these with the Compiled Financial Statements.

Compiled Financial Statements without footnotes are utilized by businesses when the users (recipients) of the Financial Statements are intimately aware of the history and complexities of the business and the contents of the footnotes are well known by the users.

Contents of Footnotes


Footnotes contain disclosures of Accounting Policy, Marketable Securities (if any), Inventory valuation methods, details of Property and Equipment, details regarding Long-term Debt and Other Obligation Notes, Income Tax Provisions (if applicable), details of Stockholders' Equity, details regarding Related Party Transactions, disclosure of Contingency Notes, details concerning Leases, Pensions, Profit Sharing, and Other Postretirement Benefits. In addition, Extraordinary Items and Other Informative Disclosures are included.

Reviewed Financial Statements

When Reviewed Financial Statements are presented the Certified Public Accountant performs inquiry and analytical procedures that provide the accountant with a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the statements in order for them to be in conformity with Generally Accepted Accounting Principles (GAAP) or, if applicable, with an Other Comprehensive Basis Of Accounting (OCBOA) such as Federal Income Tax method of accounting.

The objective of a Review differs significantly from the objective of a Compilation. The inquiry and analytical procedures performed in a Review should provide the accountant with a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the financial statements. No expression of assurance is contemplated in a Compilation.

The objective of a Review also differs significantly from the objective of an Audit of financial statements in accordance with Generally Accepted Auditing Standards (GAAS). The objective of an Audit is to provide a reasonable basis for expressing an opinion regarding the financial statements taken as a whole. A Review does not provide a basis for the expression of such an opinion because a Review does not contemplate obtaining an understanding of the internal control structure or assessing control risk; tests of accounting records and of responses to inquiries by obtaining corroborating evidential matter through inspection, observation or confirmation; and certain other procedures ordinarily performed during an Audit. A Review may bring to the accountant's attention significant matters affecting the financial statements, but it does not provide assurance that the accountant will become aware of significant matters that might be disclosed in an Audit.

Reviewed Financial Statements are usually performed for businesses that require bonding or large bank loans where the users (the insurance companies or banks) are not intimately familiar with the clients business or industry. Footnotes are an integral part of Reviewed Financial Statements.

 BOOKKEEPING/PAYROLL

McNeal and Company offers a wide variety of services for businesses. These services are intended to allow the owner / operator of the business to concentrate on building their business and their wealth instead of spending their time dealing with day-to-day office activities such as:

  • Bookkeeping
  • Paying bills
  • Reconciling bank statements
  • Managing Accounts Payable
  • Managing Accounts Receivable
  • Billing and Invoicing                                                                                                    

Outsourcing the performance of these tasks to McNeal and Company can possibly lower businesses administrative costs.

Our employees are bonded and insured for bookkeeping, check writing and banking functions. McNeal and Company provides the structure for proper internal control to be maintained at all times.

BUSINESS CONSULTING

McNeal and Company provides business advice and consulting services. Whether you are considering selling a business, purchasing a business or starting a new business, McNeal and Company can provide the consultation you need.

We can advise you on the proper business entities that will best fit your needs. Such as:

  • Subchapter S Corporation
  • Regular Corporation
  • Partnership
  • Limited Liability Company
  • Sole proprietorship

 

FINANCIAL SERVICES

Since 1999 Max K. McNeal, CPA has been working comprehensively with his clients’ wealth management plans.  He utilizes a disciplined approach using "8 Wealth Management Issues" that his research shows are important for his clients to address.  Max utilizes the vast resources of H.D. Vest Advisory Services and his 30 plus years of Certified Public Accounting experience to provide this high level of service.  Examples of Wealth Management Issues include retirement planning, investment management issues, life insurance, long term care insurance, and business planning.  This service is delivered locally in a highly personalized way.  Mr. McNeal meets with his Investment Advisory Clients four times per year to review their investment allocations, investment performance, update each of the "8 Wealth Management Issues" and ensure their wealth management plans reflect their changing personal and family issues.  Clients’ of Mr. McNeal have told him that they value his service because he has a clear methodology for helping them, is disciplined, focused and articulates his process upfront.

Mr. McNeal is an Investment Advisor Representative* of H.D. Vest Advisory Services, a non-bank subsidiary of Wells Fargo & Company.  Securities are offered through H.D. Vest Investment Services, Member SIPC.

Call for a complimentary one-hour consultation regarding your business/financial needs and discuss what McNeal & Co. CPA's can do for you.