Services

Our financial professionals will work with you to create a strategy that is advantageous to you and your business. While making decisions to secure a sound future, Berman Hopkins employs critical analyses to take advantage of available tax benefits while employing tax strategies that meet your goals.


Assurance + Accounting

 

AUDITS

The audit provides a professional opinion upon completion of the engagement. Our focus is to deliver relevant, timely and cost-effective assurance services. We also provide meaningful recommendations for improvement of operations and strengthening of internal controls. These recommendations are made with the goal of generating savings and enhancing profitability.

 

Reviews

In accordance with the Accounting and Review Services Committee of the AICPA, Berman Hopkins performs reviews of annual and interim financial statements. As part of our review services we will express limited assurance that no material modifications need to be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting requirements.

 

Compilations

In accordance with the Accounting and Review Services Committee of the AICPA, Berman Hopkins performs compilations of financial information. In a compilation engagement, we will present the information obtained from management in the proper financial reporting framework. However, we will express no assurance as to the accuracy of the information.

Taxation

 

Accounting Services

Berman Hopkins’ Accounting Services Advisory Group provides internal and management accounting support to small and medium sized businesses in a variety of industries. 

 

International Taxation

At Berman Hopkins we are dedicated to designing international tax strategies that align business operations, tax compliance, corporate transparency and tax optimization. We deliver timely, practical, cost-effective, value-added tax planning tailored to the changing needs of a client’s business and industry. We work closely with our clients’ accounting, tax and legal departments to obtain the necessary information to prepare the IC-DISC calculations and supporting documentation allowing a smooth integration of tax planning and compliance functions with one advisory group.

 

planning + Compliance

Our technical expertise and innovative thinking enable us to pinpoint the tax issues unique to you and to minimize your tax obligation. We also provide efficient and accurate preparation of tax returns. Services include quality control, IRS audit exposure recognition and tax forms expertise.

 

Consulting

 

Succession Planning + Exit Strategies

After spending their entire life working toward building a company, owners must also learn that their involvement will someday come to an end. The desire to maximize the value of the company is always a key factor in this consideration. This will include developing key management, establishing value through financial statements, and building goodwill. An owner may transfer his equity of the company to family members, key employees, all employees (through an Employee Stock Ownership Plan) or to third party purchasers. Properly structuring the transaction in any of these methods is crucial to ensure the continued success of the company and remaining employees, minimizing the tax impact of the sale and making sure that owner notes to finance the transaction will be successfully settled.

 

Cost Segregation Studies

Cost Segregation Studies isolate shorter tax lives on real property assets to accelerate deductions and reduce taxable income. Based on an engineering study, you gain significant depreciation write-offs, even allowing you to catch up prior years’ depreciation. Through a landmark Tax Court Case, taxpayers have gained the ability to segregate their real property assets into the underlying use of the assets tax lives, often reducing the depreciable life from 40 years to 5 to 15. This opportunity can be used for purchased or constructed buildings of most industries.

 

Mergers + Acquisitions/Due Diligence

Don’t be shortchanged or taxed to death on your buy/sell transactions. Opportunities exist to modify the taxation or deductibility of equity sales and purchases. However, there are also a lot of hidden traps, and only very experienced advisors such as Berman Hopkins can help you navigate these waters.

 

IRS Negotiations + Controversies

Berman Hopkins has an outstanding history of favorable results in tax controversy cases both federally and at the state level. Using our immense technical expertise combined with a great mutual respect with tax agents we have saved clients hundreds of thousands of dollars in taxes and penalties.

 

Liability Protection + Entity Selection

Our goal is to protect your wealth. How you organize or reorganize your business is critical to building your business wealth and protecting it from creditors. Berman Hopkins provides expert consultation that prepares our clients to effectively navigate liability protection and entity selection.

 

Specialized Services

 

Business Valuations

Berman Hopkins’ Business Valuation Team provides the highest level of advice to meet the goals and objectives of our clients. Business valuation services are completed for many different business reasons including valuations for acquisition and sale of business, employee stock ownership plans, business disputes and buy-out valuations, gift and estate valuations and challenges, eminent domain actions, determination of contractual losses, calculation of personal and business damages, matrimonial cases, completing a merger acquisition, consolidating operations, managing business interruptions and planning for succession.

 

Forensic accounting

The Berman Hopkins Forensic Accounting Service Group has more than 20 years of experience to help protect your company from fraudulent activity and, most importantly, help you set up a system of internal controls to prevent internal or external fraud. Trained to detect a wide variety of fraudulent conduct, the team employs a full-range of skills and tool sets to detect fraudulent conduct, including document analysis, witness interviews, and specialized audit and investigative procedures.

 

Litigation Support

The proper succession of your business is a critical step in your life. Our expertise can ensure all facets of the transition are handled professionally and legally. We can help with valuations for acquisition and sale of business, employee stock ownership plans, business disputes and buy-out valuations, gift and estate valuations and challenges, eminent domain actions, determination of contractual losses, calculation of personal and business damages and matrimonial cases.