Charles Krblich P.A. - Fort Lauderdale

Accounting Services

Audits, Reviews, & Compilations

An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice

An Audit allows you to

Satisfy stakeholders as well as the investing community as to the credibility of published information
Facilitate the payment of taxes on-time and accurately thereby avoiding penalities and investigations
Comply with banking covenants
Detect fraud and error
Facilitate the purchase and sale of businesses

Here's what

You get the highest level of assurance because we go outside your company to obtain more information. Typically we'll have written communication with your customers, banks, vendors, and attorneys. We perform phyical inspections by observing your inventory, and performing test counts. We document and test each operating cycle including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client's supporting work papers.

Reviews

Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.

A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.

Compilations

In compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. A compilation is limited to presenting information that is the representation of management in the form of financial statements and supplementary information and accordingly we do not express any degree of assurance on the statements. In a review of a company’s financial statements, we express limited assurance that there are no material modifications that should be made to the financial statements. A review consists principally of inquiries of company personnel and analytical procedures applied to financial data.

Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business. Banks often require compilations from an independent CPA as part of their lending covenants.

Cash Flow Management

A wise business owner once said, "Happiness is a positive cash flow." As a business owner, everything is better with your cash-in exceeds your cash-out

A cash crisis can be emotionally devastating and it can even kill your business. Our cash management service allows you to:

Know when, where and how your cash needs will occur
Know what the best sources are for meeting your additional cash needs
Maintain good relationships with bankers and other creditors

We will develop a cash flow projection for you and can help develop short term and long term capital strategy to help you manage your daily, weekly, annual and 3 - 5 year cash flow needs.

We also prepare historical cash flow statements to help you gain an understanding about where all the money went.

We also provide other cash management services:

Help obtaining lines of credit
Cash collection acceleration techniques
Proven effective payment policies
Maximizing the rate of return on your idle cash

Financial Planning

Building and preserving your personal wealth requires specialized attention. We provide one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth

We help you:

Save enough for a comfortable retirement by identifying your retirement needs, analyzing your assets and sources of retirement income, reviewing estimated shortfalls, and identifying the best ways to save for retirement given your financial situation and risk tolerance.
Pay for your child's college education by accurately estimating the amount of money you'll need, analyzing your assets, reviewing estimated shortfalls and considering general alternatives and strategies to help address these potential shortfalls, and developing an optimal savings plan given your financial situation and risk tolerance.
Protect your family in case of you become disabled by ensuring you have enough money in your emergency fund and analyzing your life, disability, health, home, and auto insurance coverage. We also review your will and various powers of attorney designed to take care of your affairs in the event you are incapacitated and can't manage them yourself.
Achieve your investment goals by identifying the steps needed to maximize your investment returns as well as the steps needed to help minimize your risk while building increased predictability of your investment returns.
Leave a legacy for your heirs by maximizing the value of your estate by saving tax dollars, professional fees, and court costs. As well as minimizing the costs of probate, creditors, lawyers, and estate taxes, which can negatively impact the value of your estate. We also help you stay in control of your affairs by providing a road map for passing your estate on to your heirs.

Condominium Associations

Internal Controls

At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

What we do for you:

Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.

Bookkeeping Services

Our firm provides bookkeeping services to small and medium sized businesses. This allows you to concentrate on your core business rather than being weighed down by paper work.

Our highly trained QuickBooks consultants manage your accounting tasks so you can focus on growing your business. Clients that use our Florida bookkeeping services gain the expertise and support of a full-service company, not just the capabilities of a single employee. We build long-term relationships with our clients that make us an invaluable investment in their business operations.

Our full-service off-site bookkeeping services include:

Accounts Payable
Accounts Receivable
Invoicing
Comprehensive payroll administration
Reconciliation of all bank and credit card accounts
Job Costing
Budgeting, forecasting, and cash projections
Internal and external audit interfacing
Comprehensive financial reporting packages to meet your needs
Sales tax returns
Computerized accounting system analysis and installation
Other customized services to help you grow your business

Payroll

Our CPA firm manages payroll for companies throughout Florida. When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner. Staying on top of payroll is essential - one mistake or late tax payment can result in a severe cost. We'll make sure your payroll is handled efficiently and recorded properly.

Small business owners in Florida spend an average of eight hours a month performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.

Why Outsource Your Payroll:

It's Cost Effective
It's a Time Saver
Worry Free Payroll Tax Filing
Allows you to Focus on Core Competencies
Comprehensive Reporting

Tax Services

Tax Preparation

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.

Here's what your get...

Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
Your tax return can be filed electronically so you will get a refund back quicker.
Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.

Books a Mess: No Problem!
If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.

Tax Planning

Planning is the key to successfully and legally reducing your tax liability. Our Fort Lauderdale CPA firm go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars.

Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.

We recommend Tax Saving Strategies that help you...

grow and preserve assets by keeping Uncle Sam out of your pockets.
defer income so you can keep your money now and pay less taxes later.
reduce taxes on your income so you keep more of what you make.
reduce taxes on your estate so your family keeps more of what you've made.
reduce taxes on your gifts so you can give more.
reduce taxes on your investments so you can grow your wealth faster.
reduce taxes on your retirement distributions so you can retire in style.

Here's just a few of the Tax Saving Strategies we use...

Splitting income among several family members or legal entities in order to get more of the income taxed in lower bracket.
Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.
Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.
Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.

Remember, we work for you not for the IRS. Many of our clients save many times the fee in reduced tax liability through careful planning and legitimate tax strategies.

Estate Planning

Florida Estate Planning Services

Estate planning on your own can be complicated and costly in Florida. Florida has very specific guidelines on estate planning and mistakes can be costly and time consuming.

There is a wide variety of issues to discuss when preparing for estate planning in Florida. The list is endless... state taxes, bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance, IRA's, 401K's, annuities, burial or cremation costs, and intent regarding death-postponing treatment to name a few. Not knowing your legal and financial rights often ends up costing you more in the end.

Thoughts of estate planning often bring more questions than answers: Could an heir be too young to inherit? Should the inheritance be given at a certain age? Is the intended beneficiary in a shaky marriage with divorce as a possibility? Are there children from a previous marriage? Should inheritance be protected from potential creditors of the heir? Are there taxes that can be avoided? Are you able to avoid the probate court rules, delays, and costs?

Planning what happens to your estate when you're gone can seem frustrating and intimidating without qualified help.

You may feel that you're too young to care about estate planning. Or, perhaps the reminder of death makes you uncomfortable. You might be tempted to put the whole thing off, assuming that it will just take care of itself. In all cases, estate planning ends up saving your family lots of time, heartache and money.

And we can help.

The experienced staff at the offices of Charles A. Krblich, P.A. in Fort Lauderdale, Florida know that every estate planning situation is different. Our firm has long concentrated on the practice of estate and trust tax planning, compliance and administration. Whether you are small business owner, professional, career employee, personal representative, executor, attorney or guardian; or whether you have had a loved one pass away, our experienced staff can answer any questions you have about Florida estate planning and trusts.

In order to help you, we want to know you, your unique situation, and the nature of your relationships. We offer discussion, recommendations and useful research tools to make your planning simple, efficient, and worry-free. We are available throughout the process for further discussion regarding questions, change of circumstances, and alternatives. At every step, we'll be there with you.

We help you...

Clearly define your estate planning goals.
Organize and create your estate planning team (experts on law, finance, and taxes) if you need one.
Evaluate and recommend estate planning options.
Prepare, organize and review your estate planning documents including current wills, trusts, health care and power of attorney.
Decrease the problems and expenses associated with probate.
Lessen taxes at time of death.
Arrange for management of your estate in the event you are incapacitated.
Draft a working plan for conserving and effectively managing your estate after death.
Transfer the assets of your estate to heirs the way you want.
Organize fair and adequate liquidation of estate to cover taxes and other expenses.
Amend your plan as needed.

You also get help with...

Living Wills and Trusts.
Lifetime Family Wealth Transfers.
Family partnerships and other business relationships.
Leaving money to charities.
Preparation for estate and trust tax problems.

The hassles and red tape associated with estate planning in Florida can be daunting, but you don't need to do it alone. Our team is waiting to assist you through every step of the process.

Corporate Services

Audits / Reviews / Compilations

Stockholders, creditors, and private investors often need assurance that the financial statements accurately represent the true financial position of a company.

Your stockholders, creditors, or private investors have different levels of risk tolerance, so we provide three levels of assurance to meet your needs.

Audit - Highest Level of Assurance

An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.

Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.

An Audit allows you to...

Satisfy stakeholders such as employees, customers, suppliers and pressure groups, as well as the investing community, as to the credibility of published information.
Facilitate the payment of corporate tax, goods and services tax, and other taxes on-time and accurately, thereby avoiding interest, penalties, and investigations.
Comply with banking covenants.
Help deter and detect material fraud and error.
Facilitate the purchase and sale of businesses.

Here's what you get...
You get the highest level of assurance because we go outside your company to obtain more information. Typically, we'll have written communication with:

Your customers, to check outstanding receivable balances,
Your banks, to confirm cash or debt balances and terms,
Your vendors, to verify outstanding payable balances, and
Your attorneys, for information on pending or threatened legal action.

We also perform physical inspections by observing your inventory counting methods and perform test counts. We document and test each operating cycle, including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client's supporting work papers.

Audits Not Just for Public Entities
All public companies are required to have an annual audit, but some nonpublic entities must undergo an annual audit as well. These include local governments, not-for-profit agencies and other organizations receiving government grants.

Moreover, some financial institutions require audits of nonpublic companies based on the financing amount and/or the bank's assessment of the company's risk. Also, companies with absentee ownership (such as those owned by investment firms, or individuals who no longer run the business) may order audits as checks of their management teams.

Review - Limited Assurance

Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA's technical expertise without the work and expense of an audit.

Compilation - Lowest Level of Assurance

Which Report Should You Use?

Each type of financial statement report may suit specific circumstances, depending on requirements from your client's bank or other parties, as well as meet budgetary needs.

Understanding each report's unique strengths and weaknesses can help you choose the most appropriate one. Please call if you have questions about which type of report is right for you.

Payroll

We offer payroll solutions that meet your Florida business's needs and enable you to spend time doing what you do best--running your company.

Why Outsource Your Payroll...

It's Cost Effective
Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees.
It's a Time Saver
Our payroll service eliminates the burden of customizing, updating and maintaining your own payroll system--no more data entry, no more researching updates or new laws, no more worries.
Worry Free Payroll Tax Filing
Eliminate the risks of calculating and filing your own payroll taxes by having professionals do it for you. Federal, state and local payroll tax laws are frequently changing and becoming more complex. How much time do you want to spend learning all the rules and keeping your information up to date?
Allows You To Focus On Core Competencies
Our professional staff in Fort Lauderdale, Florida allows you to focus on the core competencies of your business. We are Florida accounting professionals--you get the experts working for you and with you.
Comprehensive Reports
You get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include union reports, certified payroll, workers' compensation reports and much more.

Get the Payroll Solution That Best Fits Your Needs
We know that when it comes to payroll service - no one size fits all. That's why we offer the following 3 custom payroll processing options.

Comprehensive Payroll Services
Our Comprehensive Payroll Service takes care of all of the payroll processing for you, so that you won't have to. You get...

Your payroll checks prepared and printed on-time, every-time.
All of your payroll checks are laser printed on "blank" check stock to ensure maximum security and meet the micro encoding standards as set forth by the Federal Reserve System.
Free Direct Deposits
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee's vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports
Your payroll records maintained in tip top shape and comply with established Florida accounting procedures.

After-the-Fact-Payroll Services
We will take your manually-prepared payroll records and other payroll information and post this information to our data files, so you get...

Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee's vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports
Your payroll records maintained in tip top shape.

Custom Payroll Reports Service
There seems to be an endless amount of special reports Government agencies require. We can prepare the following reports for you.

Worker's Compensation Audits
Unemployment Claims
Social Security Audits
Child Support Audits
W-2 and W-3 processing
1099 and 1096 processing
Preparation/assistance with Federal and State registration forms

Small Business Accounting

As a small business owner in Florida, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we'll do the following things for you...

Reconcile your bank account
Generate an income statement
Generate a balance sheet
Clean up your general ledger
Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Reconciliation
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

Identify lost checks, lost deposits and unauthorized wire transactions.
Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
Detect and prevent embezzlement of funds from within your company.
Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This alone is reason enough to reconcile. Crime exists.
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

Track revenues and expenses so that you can determine the operating performance of your business.
Determine what areas of your business are over-budget or under-budget.
Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
Determine your income tax liability.

Balance Sheet
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
Determine if your business is in a position to expand.
Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
Determine if you need to take immediate steps to bolster cash reserves?
Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

Unlimited Consultations
We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

About Us

Accounting Services

Audits, Reviews, & Compilations

Cash Flow Management

Financial Planning

Condominium Associations

Internal Controls

Bookkeeping Services

Payroll

QuickBooks

QuickBooks Overview

QuickBooks Setup

QuickBooks Training

Tax Services

Tax Preparation

Tax Planning

Estate Planning

Corporate Services

Audits / Reviews / Compilations

Payroll

Small Business Accounting

Calculators

Tax Calculators

Personal Calculators

Business Calculators

Investment Calculators

Contact Us

Contact Directly

Chuck Krblich

Marilyn Campbell

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