|Our firm offers a wide range of services to our individual and business clients. Being a relatively small firm, we are able to offer our clients personalized quality service. Below, we have listed the services that we offer to our clients along with a brief description.
As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.(Click Service Title For Details)
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot 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
Accounting system setup for new businesses
Computerized payroll services
Business tax return preparation (Sales & Use/Business Property)
Personal financial statements
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 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.
We use accounting and auditing skills to provide an analysis of financial records in conjunction with dispute resolutions, as well as fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.
Reviews & 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 two levels of assurance:
- Review - some analytical procedures conducted with limited assurance
- Compilation - based upon client information provided and used primarily for internal use.
Governmental and Non-Profit Audits
Hague, Sahady & Co., CPA's, P.C. is one of the leading firms providing accounting, auditing and consulting services to governmental and non-profit entities in Massachusetts and Rhode Island. We are committed to delivering outstanding service by fully utilizing our industry expertise.
With Hague, Sahady & Co., PC. as your auditors, you will receive:
- Principal participation and supervision in all audits.
- Principal and staff availability throughout the year to answer questions and assist with the accounting standards.
- Technical expertise unsurpassed in the industry.
- An audit staff that is highly experienced and that thoroughly understands the uniqueness of municipal accounting and auditing.
- An audit staff that understands what is needed to provide quality audit services in an efficient and cost-effective manner.
- Quality recommendations and training to simplify and improve your accounting records and internal controls.
- Timely service and minimal disruptions to your staff.
The Single Audit, also known as the OMB A-133 audit, is an organization-wide audit or examination of an entity that expends $500,000 or more of Federal assistance (commonly known as Federal funds, Federal grants, or Federal awards) received for its operations. The Single Audit’s objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, and non-profit organizations. The Single Audits must be submitted to the Federal Audit Clearinghouse along with a data collection form, Form SF-SAC.
Agreed Upon Procedures
Agreed-upon procedure engagements while more limited in scope than a comprehensive audit of financial statements, an agreed-upon procedures engagement offers the flexibility to determine the tests, procedures, and scope of work required based on the particulars of a situation.
Whether for transaction support, due diligence, internal controls evaluation, policies and procedures compliance assessment, or balance evaluation of accounts such as cash, receivables and fund balances, agreed-upon procedures engagements provide a cost effective, risk based focus for inquiry and testing.
At Hague, Sahady & Co., P.C. you will receive a clearly written report with the results of the engagement, an experienced team of professionals that specialize in municipal and non-profit accounting and most of all personal attention from the principal assigned to the engagement.
We perform a variety of agreed-upon procedure engagements, including, but not limited to, the following subject matter:
Massachusetts School Building Authority compliance procedures on approved construction projects
Massachusetts Department of Education compliance procedures on End-of-Year Reports required to be filed by Massachusetts Public School Districts
Evaluation of internal controls and balances of student activity funds
Evaluation of internal controls over the Food Service Programs
Verifying cash balances upon Treasurer turnover
Verifying receivable balances upon Collector turnover
Evaluation of internal control over purchasing and accounts payable
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. Audits differ from reviews and compilations, as they are an intensive examination of your company's systems and records providing the highest level of assurance.
With over 30 years of experience Hague, Sahady & Co. CPA's, P.C., can help you design and implement your chart of accounts, the systems necessary to record and depreciation your fixed assets and infrastructure, the systems neccessary to implement internal controls over the disbusement, payroll and/or revenue cycles of your entity.
We can provide training in the areas of municipal and non-profit accounting or assist in your day-to-day activities while you fill a void in your organization.
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.
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 remove yourself from the company's day to day operations. With a 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.
Whether you are thinking of buying a new business or in the midst of a difficult divorce, the amount attached to the value of your business is important. We can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest.
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 in which we provide consulting services:
Accounting software selection and implementation
Type of entity selection
Buying/selling a business
Financial & retirement decisions
Estate, trust & gift 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.
A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.
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.
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
We routinely advise clients in various matters involving business, including the formation, management, sale and purchase of corporations, limited liability companies, partnerships, review of and/or drafting of contracts as well as very extensive experience in dealing with municipalities.
Elder Law & Medicaid Planning
Do you need an attorney for even "simple" Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be "yes." The social worker at your mother's nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the program, but maybe not the particular rule that applies in your case or the newest changes in the law. In addition, by the time you're applying for Medicaid, you may have missed out on significant planning opportunities.
At Hague, Sahady & Co., P.C. we can provide careful planning, whether in advance or in response to an unanticipated need for care, can help protect your estate, whether for your spouse or for your children.
Estate & Trust Planning
The knowledge that we will eventually die is one of the things that seems to distinguish humans from other living beings. At the same time, no one likes to dwell on the prospect of his or her own death. But if you postpone planning for your demise until it is too late, you run the risk that your intended beneficiaries -- those you love the most -- may not receive what you would want them to receive whether due to extra administration costs, unnecessary taxes or squabbling among your heirs.
At Hague, Sahady & Co., P.C. we can help you plan your estate, no matter how small your estate may be. We can help you while you are still living, to ensure that your property will go to the people you want, in the way you want, and when you want. It permits you to save as much as possible on taxes, court costs and attorneys' fees; and it affords the comfort that your loved ones can mourn your loss without being simultaneously burdened with unnecessary red tape and financial confusion.
Probate is the process of passing the assets of a deceased person to his or heirs, after the payment of creditors. In addition to the grief that is caused by the loss of a loved one, the personal representative of an estate is required to quickly learn the legal procedures necessary to ensure a smooth estate administration. The attorneys and other professionals of Hague, Sahady & Co., P.C. can provide the help and assistance necessary to ensure a successful probate administration.
We handle estates of all sizes and complexities, from simple estates valued at less than $100,000 all the way up to taxable estates valued in the millions. We also have considerable experience handling estates with real estate, business interests, and assets disbursed in more than one state.
Real Estate Law
We have extensive professional, as well as personal experience in all types of real estate transactions dealing with residential, commercial, industrial, and agricultural properties, including purchase, sale, lease, development, and title correction procedures.
Real Estate transactions can be simple or complex. What is constant is that they are very important to our clients. A home is usually the most expensive item a person will buy or sell during his or her lifetime. We understand the magnitude of this event in the lives of our clients and work to ensure everything goes smoothly.
Our clients are diverse, from young couples purchasing their first home to retirees selling large estates and everyone in between. We represent them throughout the entire transaction, from drafting or reviewing an offer to attending the closing. Some of the services we provide include:
• Drafting contracts of sale
• Drafting closing statements
• Drafting satisfaction of mortgage statements
• Facilitating financing
• Executing summary judgements (evictions)
• Selling real estate on behalf of estates or trusts
• Attending closings
• Acting as escrow agents
• Recovering foreclosure surplus
• Transferring residential property between family members
• Purchase or sale of foreclosed property
• New construction subdivision sales
The lawyers have extensive experience with tax planning, representation before the Internal Revenue Service, and tax litigation. Attorney Bruce Hague has also earned his Masters Degree in Taxation from Bentley College. We are well qualified to help our clients with their tax matters.
Wills and Other Documents
We have been working with individuals and families for over 20 years to ensure that our clients' wishes are documented.
Depending on the circumstances, an estate plan can be simple or complex. We tailor estate plans to the situations of our clients. Some of the services we provide include:
• Drafting wills
• Insurance review
• Guardianships for minor children
• Durable powers of attorney
• Living wills
• Health care proxies
• Establishing guardianships for developmentally disabled or frail adults
• Planning for the client's incapacity
• HIPAA authorizations
Expert Witness Services
Pending or existing litigation can result in the need for a qualified professional to present his/her opinion to support or oppose evidence submitted to the court. Our level of competence allows us the opportunity to function as expert witnesses in such cases.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Mergers & Acquisitions
Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations; product/service compatibility; competitive tactics and position; financial impact; and cash flow considerations.
We provide services such as notarizing your important documents.
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.
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.
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.
Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.
Our significant investment in computerized tax preparation and research software enables us to accurately and efficiently prepare returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations.