Gary J Wood, P C

Certified Public Accountant

The CPA for the Smaller Client

  1. Your Taxes:
    • Are you claiming all of the deductions you are entitled to?
    • Are you afraid that you are taking deductions that may not be allowed and may get you in trouble?
    • Do you get surprised by the bottom line of your tax return each year?
    • Do you find yourself paying penalties when you don't want to?

  2. The Highest and Best Use of Your Time:
    • Do you feel that you are spending too much time doing accounting work and not enough time managing your business?
    • Do you find that you are becoming too much of an accountant and not enough of a business owner?
    • Do you find that the "savings" from doing your own bookkeeping is taking its toll on your profitability?

  3. Professional Help:
    • Does your current CPA keep you up-to-date on tax law changes, particularily as they affect you?
    • Have you benefited from his/her advice?
    • Is he/she available when you need him/her?
    • Does he/she help you with management issues, such as cash flow?

  4. Bottom Line:
    • Does it feel like the tax is wagging the dog when it comes to your taxes?
    • Your profitability?
    • Your finances?

As a CPA serving Valley businesses and residents for nearly 20 years, I can help you with, not only the above, but many of your financial and/or tax problems. (No, I will not pay your taxes for you.)

What can I do for you? Hard to say, because my services to you will be as uniquely individual as you, or your, business are. As a small businessman myself, I share the challenges you face. Your well-being is my main concern. Perhaps the most valuable service I offer is personal attention. I'm never more than a phone call away.

In general, my primary services are preparing income tax returns for individuals and businesses, providing monthly or quarterly accounting for businesses, performing audits for churches and small non-profit organizations, and performing peer reviews for other CPAs. In reality, my services are whatever my clients need help with. In all cases, my goal is to save you money on your taxes by taking advantage of every break you are entitled to under the law. My primary concern, when evaluating a function or suggesting an improvement is that the cost does not exceed the expected benefit. My experience has given me a valuable understanding of how smaller organizations operate.

Income Tax Returns
Practically everyone is required to file a tax return. For individuals, I can prepare your return, whether it is an individual, trust, or estate return. For businesses, I can prepare your return, whether it is a Schedule C, corporate, partnership, and/or non profit income tax return. I can also prepare your payroll, sales, use, and property tax returns as required.

Financial Statements
It is impossible to prepare and plan for the future if you do not know where you stand now and where you have been. I can take your financial information and organize it into a format from which comparisons and decisions can be made, with sufficient detail to accomodate analysis. Using such tools as budgets and gross profit analyses, financial statements can help you control cash flow and other financial matters and increase profitability. I provide three levels of reporting on your financial statements (based on your needs and budget), Compilation, Review, or Audit.

Tax Planning
If you have income, you are subject to income tax. It is the law of the land. But you need not pay more than the minimum required. Many times, structuring a transaction differently can make a big difference to your taxes. I can help you avoid paying excess taxes through effective planning.

By knowing and understanding what has happened and what is happening, I can help you plan, prepare, and have some control over what will happen. A good budget is, in a sense, a measure of how well you know your business. By setting and acheiving goals, you can plan for the expansion and growth of your business.

Peer Reviews (CPAs only)
Over the years that I have been performing reviews, except possibly for cost, the primary concern I have encountered by CPAs being reviewed has been whether I, as a reviewer, would understand how their practice operates and the matters they face. As a sole practitioner since 1981, I definitely understand the environment sole practitioners and small firms operate in. I don't lose track of this when I perform reviews, or when I give suggestions for improvement. I am registered as an on-site and off-site reviewer for sole practitioners and small firms with the American Insititute of CPAs, California Society of CPAs, and Colorado Society of CPAs.

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