PENAN & SCOTT, P.C.
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PENAN & SCOTT, P.C. is a full service professional firm of Certified Public Accountants and financial consultants offering a complete range of accounting, tax, and financial management services. We specialize in specific business and institutional environments. This specialization enables us to maintain an intimate knowledge of our clients' needs and to be involved with their needs every part of the business year. Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.

As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.

(Click Service Title For Details)

  		• Tax Planning & Preparation
  		• Audits, Reviews and Compilations
  		• Management Advisory Services
  		• Estate & Trust Tax Preparation
  		• Estate Planning
  		• Business Valuations
  		• Buying and Selling a Business   
    Tax Planning & Preparation
    Tax planning and preparation form a winning combination for our successful individual and business clients. Whether you are an individual or a multi-tiered partnership, our experienced staff can develop tax strategies that take advantage of new tax laws and legislation.

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    Audits, Reviews and Compilations
    We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:

    *Audit- an intensive examination with the highest level of assurance

    *Review - some analytical procedures conducted with limited assurance

    *Compilation - based upon client information provided and used primarily for internal use.

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    Management Advisory Services
    This is probably the fastest-growing among the many activities we carry out as public accountants. These services tend to involve non-recurring, yet critically important services, including:

    Computer Services

    - Software programs for professional time reporting, accounts receivable, fixed asset accounting, general ledger bookkeeping, and financial statements.

    - Diagnostic review, requirement specification, design and installation of accounting and management information systems.

    Entrepreneurial Services

    - Capital formation from primary and secondary sources.

    - Structuring and preparing loan applications.

    - Growth management assistance.

    - Financial analysis and projections.

    - Workout, bankruptcy, planning and consulting.

    Other Services

    - Feasibility studies concerning the acquisition or sale of businesses or properties.

    - Business plans.

    - Personnel systems and recruiting.

    - Litigation support, including expert witness.

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    Estate & Trust Tax Preparation
    Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.

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    Estate Planning
    Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.

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    Business Valuations
    Whether you are thinking of buying a new business or in the midst of a difficult divorce, the amount attached to the value of your business is important. We can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest.

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    Buying and Selling a Business
    Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent staff has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations.

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