Cost Savings for Clients

• Financial and operating systems
  We have years and years of experience in evaluating accounting and operating systems in large companies. The purpose of these evaluations is to ensure that systems like accounts receivable, payroll and warehouse receiving and shipping all function with the most efficient use of employees' time, while providing useful management information to control the business. Some systems have been found to be expensive in software and programming costs, while providing a great deal of information not particularly useful for that particular business. In such cases, we can often streamline the reporting process to save money for the client while still providing the most essential information to manage the company. In other cases where the systems are too skimpy on reporting needed information, a minimal investment is often all that is required to modify the reporting requirements to include some essential additional items that can help run the business more effectively. Our job is to save you money.
  
  

• Income taxes
  During the process of preparing corporate or personal income tax returns for the client, Simkover and Associates is always cognizant of the most recent tax legislation and how various tax clauses can be used to the advantage of the client. In many cases, strategies can be used to save taxes which are optional but may be to the client's advantage in certain particular circumstances. For example, the business may have suffered an operating loss for the year which results in no tax to pay. However, it may be advantageous to carry the loss back to any one of the three prior years instead of waiting to apply it against a future year's profits. This way, the prior year's profit is retroactively recalculated and results in a tax refund for taxes already paid in the prior year. Why pay tax when you don't have to?

  
  

• Accounting fees
  Simkover and Associates only uses CA's with 15+ years' experience, which many firms would likely assume is too expensive for the client. However, our experience is that this approach greatly increases the efficiency of the work since it is not necessary to conduct detailed reviews and corrections of work done by junior staff. The bottom line is that the client gets high quality of work at all times, is not used as a training ground for new staff, and still pays fees that are equal or lower than comparative firms. We give you high value at a very reasonable cost.

  
  

• Tax and estate planning
  In the area of taxation, the most effective approach to realizing savings is through advance planning. In this way, the clients' affairs can be managed in such a way as to minimize taxes for the current and future years, since there is only a limited amount that can be done when the transactions for the year have already been completed. That is why Simkover and Associates is always available, when requested, to conduct a review of the client's affairs from a tax planning and estate planning perspective. Planning ahead saves taxes.