Welcome and thank you for visiting Gorman & Associates, P. C., Certified Public Accountants. In addition to providing you with a profile of our firm and the services we provide to our clients, we have designed the web site to provide you with useful and prevalent information. While visiting our web site, please feel to contact us with any questions or comments you may have – we’d love to hear from you. We pride ourselves on being honest, fair, and responsive to our clients’ inquiries and suggestions. HISTORY OVERVIEW Before starting this firm in January 2006, our founder, Mr. William H. Gorman, Jr. CPA, CGFM, spent the prior twenty years as a partner in two separate public accounting firms. Overall, Mr. Gorman has over thirty years of public accounting experience.  In addition, Mr. Gorman is a national discussion leader for the American Institute of Certified Public Accountants on various accounting and auditing topics, and serves on the Pennsylvania Institute of Certified Public Accountants' State Committee on Local Government Accounting and Auditing.   It is our philosophy to treat each of our clients as part of our extended family providing each client with technical expertise, integrity, quality, and excellence in service. We perform audits, compilations, reviews, management consulting, forecasts and other attest functions, tax work associated with individuals, corporations, partnerships, limited liability companies, limited liability partnerships, and trusts.   Our years of experience cover a wide range of business entities and not-for-profit organizations including: construction contractors, school districts, municipalities,  real estate brokers, insurance brokers, manufacturing companies, mining and paving contractors, professional health care providers, real estate development companies, landscaping contractors, retail variety stores, grocery stores, department stores, wholesale dealers, condominium associations, libraries, automobile and boat dealerships, golf courses, country clubs, restaurant and bar establishments.   ACCOUNTABILITY We are proud to be a member of the American Institute of Certified Public Accountants, the Pennsylvania Institute of Certified Public Accountants, the Florida Institute of Certified Public Accountants, the Association of Government Accountants, and the Pennsylvania Society of Public Accountants. These voluntary, self-regulatory organizations insure quality performance through strict, independent peer reviews, which Mr. Gorman and his past public accounting firms has successfully completed and passed on an on-going basis. Our profession is constantly changing with new tax laws, new auditing standards, and new accounting principles to learn and digest. To best serve our clients, each professional at Gorman & Associates, P. C. is required to take continuing education courses and technical training on an annual basis. To continue to provide our clients with quality professional service, we are committed to the professional growth of our greatest resource: the people of Gorman & Associates, P. C.   LIST OF PROVIDED SERVICES Our firm offers a wide range of services to our individual, business, and not-for-profit clients. Because our firm is relatively small, we can provide our clients and extended family personalized and quality service without the bureaucratic red tape found in larger firms.   The list below is by no means all-inclusive. Please feel free to inquire about a service that is not listed. If we can not provide the service, we will be more than happy to refer you to a qualified professional that can provide you the needed service. Accounting Services Providing financial information to our clients in a timely and accurate manner is a commitment that we feel can not be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:   *General ledger & financial statement preparation *Bookkeeping (Monthly/Quarterly/Annual) *Accounting system setup for new businesses *Computerized payroll services *Business tax return preparation (Sales & Use/Business Property) *Personal financial statements *Litigation support   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.   Bookkeeping/Write-Up Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.   Financial Statements We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions.   Financial Forecasts & Projections Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company’s financial goals.   Cash Flow & Budgeting Analysis A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses.   Tax Services We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to:   *Tax planning and return preparation *Individuals *Corporations *Partnerships *LLCs/LLPs *Estates, trusts & gift *Not-for-profit organizations *Taxing authority representation *divorce and support issues *Tax effects of buying/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.   IRS Representation During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.   Payroll Services As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.   Sales Tax Services Many of our clients are responsible for collecting and submitting sales taxes in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.   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.   Consulting Services We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following is just a few of the areas which we provide consulting services:   *Accounting software selection and implementation *Type of entity selection *Business valuations *Buying/selling a business *Computer systems *Financial and retirement decisions *Estate, trust and gift planning   Business Succession Planning Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remover yourself from the company’s day to day operations. With solid background in tax and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.   Buying & 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.   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.   Management Advisory Services Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your business’ future growth and success.   Business Consulting We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sound board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.   Investment Review As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor build an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.   Business Entity Selection Choosing the form of entity of your business (e.g. “S” corporation, sole proprietor, limited liability company…) is a crucial decision that can have longstanding tax implications, positive or negative. We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company.