Eric H. Berkowitz, P.A. provides a wide range of services to individuals and businesses in a variety of industries. At Eric H. Berkowitz, P.A., we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:
- Audits, Reviews, and Compilation
- Condo and Homeowner Association Taxation and Accounting
- Debt and Finance Advising
- Estate and Trust Tax Preparation
- Litigation Support and Forensic Accounting
- Payroll Services
- Tax Management Services
Audits, Reviews, and Compilation
Eric H. Berkowitz, P.A.'s financial statement services comprise all three levels of assurance depending on your company's needs.
Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. We perform audits for you to remove errors, ascertaining the validity and reliability of your information.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.
Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.
Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Eric H. Berkowitz, P.A. can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business. Our write-up services include reconciling your accounts and making the necessary adjustments to present accurate financial information for use in management decisions and tax planning.
Condo and Homeowner Association Taxation and Accounting
We offer a full-range of accounting and taxation services to Common Interest Realty Associations (CIRAs) including, but not limited to: Homeowner's Associations (HOAs), Condominium Associations, Commercial Associations, Timeshare Developments and Cooperative Housing Corporations. The most common services provided include Compilations, Reviews, Audits and Annual Tax Form Preparation.
The tax and State laws surrounding CIRAs are extremely complex and require the knowledge of a qualified professional. We can provide this expertise as our firm policy includes a requirement for a substantial amount of annual continuing education, including CIRAs.
We offer a proactive approach to effective planning for this specialized area to ensure deadline compliance with State reporting requirements for this specialized area.
Cash Flow and Budgeting Analysis
Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Eric H. Berkowitz, P.A. can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.
Financial Projections and Forecasts
No one can predict the future perfectly, but we can all benefit from planning for it. Eric H. Berkowitz, P.A. combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.
Debt and Finance Advising
Whether your needs are corporate or personal, Eric H. Berkowitz, P.A.'s professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.
Entity Selection and Restructuring
Your business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Eric H. Berkowitz, P.A. can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.
Estate and Trust Tax Preparation
Effective estate and trust tax planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Eric H. Berkowitz, P.A.'s role is to help you navigate the complex and shifting tax laws to minimize the tax liability of your beneficiaries. We work with local estate attorneys to ensure that all aspects of your trust and estate planning (both legal and tax related) are properly designed to minimize your taxes. Having your trust taxes thoroughly and carefully planned and prepared will ensure that your loved ones don't have any tax complications to deal with during a time of loss.
Professional representation can be vital during an audit, and our experience with State and Federal tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS or State agencies may ask of you
Litigation Support and Forensic Accounting
Eric H. Berkowitz, P.A. litigation support and forensic accounting services can be employed in a wide range of situations, including commercial litigation, financial investigations, business valuations, business and marital dissolutions, and bankruptcies. These services can involve quantification of economic loss or damages, analysis of financial records, and fraud and theft investigation. Financial and personal records are often vast and confusing to sort through. With our professional training in this matter, we can make sense of these records and transactions and get to your bottom line.
Nonprofit Accounting & Tax Preparation
Whether you are a large organization with the need for auditing services or a small organization with basic bookkeeping and accounting services, Eric H. Berkowitz, P.A. can assist with your specific non-profit tax and accounting needs. Our knowledge and understanding of the complex issues facing non-profit organizations helps us to assist our non-profit clients with all their financial and organizational concerns. We can help you identify opportunities, strengthen internal controls and improve the overall financial operation and effectiveness of your organization. Our services include Yellow Book and Single Audits under OMB Circular A-133. Eric H. Berkowitz, P.A. is a voluntary member of the American Institute of Certified Public Accountants (AICPA) and, as such, undergoes an independent peer review of the quality control policies of our firm's accounting and auditing practices.
Our payroll services can help you reduce the time spent on administrative tasks so that you can focus on running your business. Our experienced bookkeeping department offers full-service (weekly payroll and new hire reporting) as well as after the fact payroll services (941 deposits and quarterly tax returns). We can also help calculate owner and shareholder payroll and incorporate proper tax planning in the process. We can customize our services to fit your business needs and budget and help ensure that you maintain compliance with all Federal and State agencies.
QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you purchase the right product and then install, setup and use it properly. We don't just help you use the software, we help you use it more efficiently and more effectively.
We have a Certified Pro Advisor on staff to ensure you receive the highest quality of assistance possible when it comes to your QuickBooks needs.
Eric H. Berkowitz, P.A. offers the following solutions to help meet your QuickBooks needs:
We install QuickBooks on your stand alone computer or in a network environment, in either single- or multi-user mode.
We assist new QuickBooks users with initial setup including: EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, but we can also provide accounting and payroll assistance.
Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.
Tax Management Services
At Eric H. Berkowitz, P.A., we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.