Services

Stanley Marks & Company LLP is a leader in providing accounting services to the medical practice field. Today, the Firm pro-actively works with many clients on the never-ending changes and business complexities confronting the medical profession. Often this means facilitating mergers of medical practices, providing guidance on the issues that concern the consolidation of the groups as it relates to the financial, pension, billing and legal issues.

Shareholders of closely-held, successful, medical practices are generally quite sophisticated and require an analysis of all issues and aspects that touch both business and personal financial lives. This will include the analysis of tax situations, assisting practices with financial decisions, management and operations, practice trends, cash flow projections, financial negotiations, comparisons to industry averages on their respective specialty, and new health care issue developments.

Stanley Marks & Company LLP extends its service to continually monitor medical practices to see how they relate to the national statistics and keep abreast of trends to help these clients stay on the cutting edge.

The Firm currently services more than 100 medical practices and over 250 physicians, with a team of accountants specializing in the health and medical fields and its intricacies. This accounts for approximately thirty percent of their accounting practice revenues.

At Stanley Marks & Company LLP, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.

From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Stanley Marks & Company LLP's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.

These services include but are not limited to:

• General ledger and financial statement preparation
• Bookkeeping (Monthly, quarterly, or annual)
• Accounting system setup and support
• Cash flow budgeting and forecasting
• Personal financial statements
• Employee benefit and profit-sharing plans
• Corporate tax planning and return preparation

At Stanley Marks & Company LLP, we focus on building close client relationships that add long-term value. This includes assuring the solidity of financial records, evaluating financial procedures and working to produce strategies that help our clients face the myriad challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality or its context, meaning more success for your business.

These services include but are not limited to:

• Audits, reviews, and compilations
• Entity selection and restructuring
• Accounting software selection, implementation, and support
• Business valuations
• Financial projections and forecasts
• Debt and finances advising
• Mergers and acquisitions
• Transaction structuring and negotiations
• Business succession

Stanley Marks & Company LLP is highly experienced in providing audit and accounting services. We can help you assemble your information into financial statements that will enable you to evaluate historical and prospective financial performance. We have the flexibility to prepare the simplest “compilation” reports as well as the more complicated audited, consolidated reports. In addition to performing audits for prominent companies in the area, our firm currently audits various not-for-profit organizations. These organizations include fire districts, benefit plans, homeowner associations, and various charitable organizations.

We are proud of the fact that we recently achieved the highest rating possible when our peer review examination was completed under the AICPA Quality Review Program. This is a comprehensive examination of an accounting firm’s quality assurance program and proficiency in the preparation of financial statements.

Stanley Marks & Company LLP's financial statement services comprise all three levels of assurance depending on your company's needs.

Audits

Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions.

Reviews

Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.

Compilations

Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.

Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Stanley Marks & Company LLP's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.

The New York State Senate and Assembly passed an amendment to the Town Law and the General Municipal Law to require fire districts with annual revenues of $200,000 or more to obtain annual audits of its records and that the audit shall be performed by an independent certified public accountant.

The amount of annual revenues will dictate when an audit will be mandatory.

Our firm has relevant experience providing agreed upon procedures and reports for fire districts. We can perform pre-audit services to ensure that you will be prepared for the mandatory audits. When your districts revenues exceed the mandatory audit threshold, we can perform the audit of the district.

Stanley Marks & Company LLP's goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Stanley Marks & Company LLP can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals.

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.

Stanley Marks & Company LLP offers the following solutions to help meet your QuickBooks needs:

Personal Training

We train you personally! Either one-on-one or several individuals within your organization at your company's location.

Installation

We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode.

Setup

We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.

Support

Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.

Review

Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.

Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Stanley Marks & Company LLP can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

For the past 60 years, Stanley Marks & Company LLP has had a long and extensive background working with commercial growers to help them to gain an understanding of their business; their cost structure and potential avenues of savings; as well as projecting their future financial results. We have served several large apple growers in upstate New York for three generations.

Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.

Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Stanley Marks & Company LLP can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.

Choosing and administering benefit plans for your employees is often a complex process. Stanley Marks & Company LLP can help you develop, implement, and administer your benefit, retirement, and profit-sharing plans with an eye toward rewarding your employees and reaching your company's financial and business goals. We can also help maximize tax advantages in implementing these plans. As your business grows, your business and your employees will be rewarded for the hard work that contributed to the success of your business.

Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Stanley Marks & Company LLP can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.

No one can predict the future perfectly, but we can all benefit from planning for it. Stanley Marks & Company LLP combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.

The range of needs for valuing businesses continues to widen, and Stanley Marks & Company LLP can assist with in-depth analysis to help you identify and analyze the factors that drive the value of your company or one in which you have an interest. Uses for this service include estate planning and compliance, buying and selling businesses, divorce matters, family limited partnerships and ESOPs. There are so many factors that contribute to the perceived value of a business. Our expert help can help you evaluate entities that you have an interest in and guide you towards making business decisions that you feel confident with.

Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Stanley Marks & Company LLP can provide professional know-how to help you successfully structure and negotiate the deal. Stanley Marks & Company LLP employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.

Whether your needs are corporate or personal, Stanley Marks & Company LLP's professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.