Our Services

At Dwayne Clark, PC, the careful management of your finances is our top priority. We pride ourselves on providing personalized and thorough service that meets your business or individual needs.

We provide a full range of tax and accounting services for our clients and offer consulting services for special needs.

Tax Services

At Dwayne Clark, PC, we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients with excellent service. Tax partner involvement ensures that our clients receive the most experienced technical expertise we have to offer.

We offer the following tax services:

Federal and State Tax Services

Tax Return CompliancPreparingof federal and state tax returns is the core of our tax services. High levels of technical and industry-specific expertise allow our tax professionals to ensure ouclient's’s tax returns are prepared efficiently and timely.

Transactional Structuring

We help businesses structure economic transactions in ways that minimize the tax impact by advising them on acquisitions and sales.

Accounting Method Reviews

We reviebusinesses's’ tax accounting methodologies for proper accounting and accounting method strategies to maximize income tax benefits.

Audit & Appeal Representation

We possess the expertise and experience to represent taxpayers before tax authorities. Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain you the most favorable results.

State and Local Tax Specific Services

State Tax Liability Analysis

We can help you understand and navigate where your business is required to file and pay state and local taxes based on multistate activities. 

Sales and Use Tax Determination

We can assist you in understanding the sales and use tax consequences of specific transactions and ensure you meet any filing requirement.

Tax Planning Services

Federal Income Tax Planning

We aid businesses with all aspects of federal income tax planning. This includes implementing federal income tax strategies that maximize savings, increase profits and manage cash flows. 

Other Tax Services

Tax Updates

We keep our clients up-to-date on the latest federal and state tax issues through newsletters, website postiface-to-facee-face to meetings.   By staying ahead of tax issues we can communicate how they will impact your operations quickly and address them in a timely manner. 

Individual Tax Services

When it comes to individual taxes, change provides opportunity. We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities. You can depend on us for objective guidance and personal attention. We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.

Estate and Trust Tax Services

If you have not considered what will happen to your hard earned assets as you age and eventually pass on you should. Without an estate plan, the wealth you worked your entire life to build will be distributed according to state law and not according to your wishes. Estate planning is crucial if you want to minimize taxes and distribute as much as possible to your preferred beneficiaries.

We will work with you to design an estate plan customized to your particular needs by utilizing a variety of planning vehicles such as family limited partner,ships, trusts and charitable entities. Our team can assist you by performing the following:

• Review wills and trust instruments.
• Estimate estate taxes and strategize alternatives that may provide tax savings.
• Review bu,siness issues including valuation and the transfer and/or disposition of business interests.
• Identify potential liquidity problems caused by federal and state estate taxes for the continued operation of the family business, probate, administration costs, etc.
• Develop a lifetime gifting program using vehilimited familyamily limited partnerships, charitable trusts and qualified personal residence trusts
• Prepare estate, gift, fiduciary and non-profit tax returns
• Advise you on the possible use of various trusts structures; including charitable remainder trusts, grantor annuity trusts, personal residence trusts, family partnerships, credit shelter trusts, marital deduction trusts and revocable lifetime trusts.

Looking for a little information right now? View the latest Tax and Financial News article in our Newsletter.

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Accounting And Auditing Services

Audits

Dwayne Clark, PC, conducts audits of privately owned companies, local government agencies, not-for-profits, and employee benefit plans.

Audits are usually performed because an outside third party requauditor'suditor’s opinion on the financial statements. Audits are performed for the purpose of expressing an opinion about whether the financial statements are fairly presented and that they conform with generally accepted accounting principles or another financial reporting framework.

Audits are the most comprehensive of all the attest services. Auditing procedures include testing accounting records and examining evidence supporting the amounts and disclosures in the financial statements. Evidence is obtained through inquiries, analytical procedures, physical inspection, observation, and through independent confirmation. Additionally, audits require an understanding of the entity and its internal controls.

There are certain assurances that audits are not designed to provide. An audit does not provide assurance on or aim to identify deficiencies in internal control. The work performed as part of an audit does give us an understanding of how your company and financial reporting function. This means we may be able to identify issues related to internal controls, processes, inefficiencies, cash flows problems as well as company and industry trends. As a result, the work performed during an audit may allow us to provide you with general business advice based on the insights gained during the engagement.

Reviews

Reviews are usually performed to satisfy third parties that want to be assured that the financial statements are not materially misstated. They provide a lesser degree of assurance to financial statement users than an audit. Also, unlike an audit, there is no expression of an opinion on the financial statements, testing of controls or financial data. Reviews essentially consist of inquiries of company personnel and analytical procedures applied to financial data. 

Compilations

Compilations provide the lowest level of assurance of the financial statements services. They are often required by outside third parties as well internally by companies.

In a compilation we assist management in presenting their financial information as financial statements in the proper form. Compilations also require us to acquire an underclient's of the client’s industry and to obtain specific knowledge about the client. Additionally, we read the financial statements and ensure they are free from obvious material errors. They provide no expression of an opinion on the financial statements.

Agreed Upon Procedures

Agreed upon procedures are performed when the parties involved concur that they want the accountant to perform a specific procedure or set of procedures. They can be useful when you or a third party wants some comfort about a specific area such as inventory or cash, but do not need the assurance and related time and expense of a full audit or review. Agreed upon procedures can deal with a diverse variety of subject matter such as the quality of collateral or due diligence related to a business acquisition. In all cases, agreed upon procedures are solely the responsibility of the parties who specify them and they never provide an opinion on the subject matter or financial statements.

Visit our set of Financial Calculators for quick answers on topics such as your IRA,child'sments, your child's college tuition, and your mortgage or credit card calculations.

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Consulting Services

At Dwayne Clark, PC, our business is to know and understand your financial situation. We offer services beyond compliance and combine our experience, expertise and knowledge to add value as a trusted advisor to your financial situation.

Check out our Newsletter for the latest article on Financial Planning.

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