Accounting, Bookkeeping and Business Management

Cash Management

In today's economy, financial dilemmas can happen to anyone of us regardless of income or occupation. Many people feel that they work payday to payday just to make ends meet. Our professional staff can help by showing how to establish and maintain a realistic spending plan, develop attainable solutions to meet your short and long term financial goals and repay your creditors in a reasonable amount of time.

Cash Flow Management

Accounts Payable Management

Budget Development and Implementation

Retirement Planning

Money Management for Major Expenditures

House Purchase

Vacations

Automobile Purchase/Lease

Family Growth

Unexpected Events

Resulting in:

Stable Cash Flow

Increased Discretionary Income

Elimination of Late Fees, Penalties, and Interest

Confidentiality

Life by Design

Estate Plans

Are your assets accessible to designated persons when the need arises? Estate planning provides numerous benefits for people regardless of age and wealth. A complete plan is beneficial and very affordable for most people.

Power of Attorney

Financial

Medical

Provides:

Any estate plan should name Powers of Attorney to ensure monthly finances are taken care of should you be unable to temporarily.

The Power of Attorney also makes medical decisions, including the use of life support if you do not have a Living Will.

Living Will

Use of Life Support

Provides:

The Living Will provides your instructions regarding the use of life support in a terminal situation, determined by two doctors independently.

Last Will & Testament

Intestate

Naming Beneficiaries

Guardianship of Minors

Provides:

When a married person dies without a Last Will & Testament (known as passing intestate), Arizona law states half of the deceased's assets go to the spouse and the other half to the deceased's parents.

Having a distribution plan is vital to seeing your final wishes happen.

The Will also addresses guardianship for your depenedent children and pets.

Living Trust

Avoid Probate

Reduces Contesting

Easier to Manage Assets

Succession Plan for Business

Provides:

The Revocable Living Trust can improve the effectiveness of the above documents.

The "probate process" (which transfers ownership of assets from the deceased to the beneficiaries) affects most estates over $200,000, often the value of a residence alone.

Probate typically freezes assets for six to eighteen months (or longer) and depletes the estate anywhere from 3% to 10% due to attorney fees and court costs.

Living Trust language often states the person contesting the trust automatically loses his or her share, greatly reduces contests. They are very difficult to contest and are not frozen during contests, in contrast to most Wills

The appointed Successor Trustees avoid struggles encountered by many Powers of Attorney at various financial institutions. They can also make your business decisions during an incapacitation or upon your passing.

Income Tax Services

The firm's tax professionals are experienced in all facets of tax planning, consulting and preparing of returns. The staff is experienced in all areas of tax compliance and will represent clients with various tax authorities, should the need arise.

Cash Flow Management

Income Tax Services

Individual, Estate, Trust, Gift Tax Preparation

Employment Taxes

Tax Planning and Consulting

Tax Negotiations

Resulting in:

Timely Compliance with Government Agencies

Confidentiality

Potential Tax Savings

Mediation

Mediation is a conflict resolution process in which an impartial third party helps participants to negotiate a voluntary agreement. All decision-making rests at all times with the participants.

Mediation is a process which can be used to resolve a workplace, business, or family dispute or to determine the terms of a divorce.

Mediation is Non-Adversarial	Benefit of Mediation: This is a cooperative problem solving process in which all participants win. There is no right or wrong, good or bad decision. All decisions are made by the participants with the goal of compromise and resolution with dignity.
It is Mutual	Benefit of Mediation: All participants must agree on a solution, or there is no agreement. Agreements by consent are more likely to be honored, reducing the incidence of post-agreement conflict and court interventions.
It Helps Clarify Areas of Conflict	Benefit of Mediation: The mediator helps limit the conflict and helps the participants discuss issues productively. It is the mediator's job to help the participants maintain a focus and obtain their objectives - resolution to disputes.
It Gives Power	Benefit of Mediation: The participants control the decisions which effect their lives. In litigation, the judge decides how participants will resolve disputed issues. Judges are people who are affected by experiences in their lives. They often carry many more cases than they like, and only see disputing parties when in the courtroom. They know little else about parties other than what is presented to them in court.
It Teaches Effective Communication	Benefit of Mediation: People who participate in mediation learn how to resolve future conflicts quickly and effectively. Often in divorce, participants must continue to resolve issues such as changes in child support, parenting time, a relocating parent, education or religion. Parenting continues after marriage dissolution.
It is Less Expensive	Benefit of Mediation: Mediation is less expensive than litigation in most cases. The cost is often similar to what counseling would cost.
It Takes Less Time	Resulting in: In most instances, mediation can resolve disputed issues much quicker than litigation.

How does mediation work?

The process begins with an orientation session in which the mediator explains the process in detail and helps to identify the issues. This initial meeting allows for evaluation of the mediator by the participants and allows the mediator to evaluate if the process is appropriate for the participants.

The participants then gather the necessary information and are ready to begin the resolution process on disputed issues. After the parties have reached an agreement, they can request that the mediator provide them with a written agreement.

What issues are discussed in divorce and family mediation?

First the issues of agreement are identified. Then disputed issues are identified. In divorce, the areas discussed are: Parenting Arrangements, Division of Marital Property and Debt, Child Support, and Spousal Support. An agreement called a Memorandum of Understanding may be prepared on the following:

Parenting Agreements

Separation Agreements

Division of Assets and Debts Agreement

Support Agreements

Antenuptial Agreements

Reconciliation Agreements

Parent - Child Agreements; Cohabitation Agreements.

Is it necessary to involve attorneys in mediation?

It is recommended that all written agreements which participants plan to sign should be reviewed independently by counsel. Even if a mediator is also a practicing licensed attorney, a mediator cannot takes sides. Attorneys cannot represent opposing sides of a legal matter. Independent review by counsel allows for an objective view of the document a participant will be bound to. If a decree or filing of a judgment is necessary, an attorney is a necessary part of the process.

Will mediation provide the same outcome as litigation?

The answer is yes and no. In litigation, the decisions are made by the judge and can be different than the positions of the participants. Mediation allows for negotiation and compromise, where litigation often does not. In mediation, the decisions are made by and for the participants involved.

If the other side is controlling, how do I know mediation will not provide more control?

Mediators are aware that in certain disputes one party may be more overpowering than the other. It is the mediator's goal to keep balance in the process. The mediator has an obligation to stop the mediation process if information is not being disclosed or if one participant is not being fairly treated by the other.

Can our children participate in mediation for divorce?

In most instances, it is not appropriate for young children to participate in the decisions concerning a divorce. Children do participate indirectly. They know that their parents have disagreements which are being addressing in a positive and productive manner. It can be a powerful lesson for children to learn. Older teenage children sometimes benefit in being a part of the process in determining parenting time with each of their parents. Preparation for this meeting is important.

Retirement Plans

Whether you are accumulating or protecting, it is important to maximize your retirement assets' earning potential whatever the level of risk.

Most retirement accounts require you not to touch the money until you are 59-1/2 and require you to take a minimum distrubtion at age 70-1/2.

Employer Plans

401(k)s

403(b)s

Protecting

Provides:

Employer plans such as 401(k)s and 403(b)s are great places to grow your retirement assets since most employers match part of your contribution.

When you leave an employer, it is recommended you "roll" your 401(k) or 403(b) into a new or existing plan, such as an IRA (there is no tax penalty on a rollover). It is not uncommon for old accounts to be lost when employers switch plan administrators.

Self-Funded Plans

Traditional IRA

Roth IRA

Self-Employed Plans

Provides:

Traditional IRAs allow you to deduct your contribution each year and allow your money to grow tax-deferred. You are taxed only on withdrawals.

Roth IRAs do not allow contributions to be deducted but the growth is tax-free. There are limits to annual contributions on Traditional and Roth IRAs.

Self-employed individuals have a variety of additional IRA and pension planning options to contribute larger amounts than the above-mentioned IRAs.

Choosing a Vehicle

Stocks

Mutual Funds

Annuities

Provides:

Stock is ownership in a single company. Interest is earned through dividends and the sale of stock that has risen in value.

Mutual Funds contain stock from multiple companies and bonds, providing a more diverse portfolio.

Annuities are contracts through insurance companies that allow non-IRA money to grow tax-deferred. They are very beneficial if IRA contribution limits have been met and additional money is earmarked for retirement. Many have annuities have a floor preventing loss of principle.

Risk Management

Maintaining family and asset protection should be an annual event, like preparation of a tax return. Review your existing coverage with your agents to ensure you have coverage that will sufficiently prepare you and your family for any event.

Because proper coverage is much more important than saving a few dollars on premiums, we proudly recommend several risk management firms to ensure family, home, business and other property are properly insured.

Risk Management

These coverages should be reviewed annually

Provides:

Home insurance

Auto insurance

Health insurance

Life insurance

Disability insurance

Business insurance (if applicable)

Premiums are often deductible which reduces taxable income while increasing protection!