Andrew C. Fantasia, P.C.
Certified Public Accountants & Consultants
Client Services

Customized Services to Achieve Your Goals

ACF offers a comprehensive range of accounting, tax and advisory services to individual, government and private sector clients.  Our mission s to provide our clients with a personalized service that enables them to achieve their financial and business goals at a reasonable fee.   Below is a list and brief description of the primary services provided to our clients.   As the list is by no means all-inclusive, please feel free to inquire and discuss a financial, tax or advisory service you may have.

(Click service title for details.)

Accounting Services


Cash Flow & Budgeting

In today's economic environment, planning is a critical element.   Good cash management can improve a company's liquidity, reduce costs, and increase profitability. ACF can help you maintain optimal cash flow levels by tracking sources and uses of cash and assist int hepreparation of a company's budget.  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, rebalance your budget and/or debts for an optimal cash flow to support your business' success.   It is a very good business practice to update your cash flow and operating budget on an annual basis or if and when there were any major changes in your business structure.  This will help ensure that you are operating at an optimal level. 

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Assurance Services

Shareholders and creditors need assurance that the financial statements reasonably represent the financial position of a company.   However, the shareholders and creditors often have different levels of risk tolerance.  As a result, ACF provides three levels of assurance to meet your company's needs.

Audit - Highest Level of Assurance

An audit is the highest level of assurance.  It is an objective review and examination of the financial statements.  It includes verification of specific information as determined by the auditor.  The scope of the engagement entails a review of internal controls, testing of selected transactions, and third party verification of certain information.

Review - Limited Assurance

A review is less extensive than an audit.  This engagement primarily involves analytical procedurs applied to the financial statements and various inquiries we make of the company's management staff.  This type of engagement does not require an evaluation of the internal controls nor does it require any third party verification.  Reviewed financial statements must include all required footnotes and other disclosures.   

Compilation - Lowest Level of Assurance

This engagement is presenting company's financial statements in a proper format noting that the financial information is  the representations of management.  As such ACF does not express any opinion or assurance on the statements.   Compilations do not require inquiries of managment, third party verifications, or analytical procedures.   Instead we rely on the company's fnancial information preseted, our knowledge of accounting principles and a general understanding of the client's business. 

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Financial Forecasts & Projections

Forecasting business operations is a necessity when trying to effectively manage and lead a company to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals.

No one can predict the future perfectly, but we can all benefit from planning for it.   ACF combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan.   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.

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Forensic Accounting

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.

This entails analyzing various personal and business related source documents in order to identify and prepare a “life style” living analysis, review and document business transactions that indicate unreported income, personal expenses reported as business deductions, fraud, misappropriation of funds, undisclosed personal and/or business related assets and investments, etc.   The fee for such services can not be determined at this time since it depends on the complexity of the case, number of businesses involved, number of years to be reviewed, etc.

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Consulting Services


Business Advisory 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 as well as,  develop business practices and solutions that are practical and technically sound. In addition to serving as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.

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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. ACF, in concert with your attorney, 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.

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Business Valuations

Whether you are thinking of buying a new business, selling a business, estate planning, in the midst of a shareholder dispute or in a difficult divorce proceeding, 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.

ACF can provide in-depth analysis to help you identify and analyze the factors that drive the value of a company.   There are a number of factors that contribute to the perceived value of a business.   ACF can help you evaluate entities that you have a financial interest in and guide you towards making business decisions that you feel confident with.

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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.

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Divorce Related Services

In addition to Business Valuation Services, ACF is often used to:

    • Prepare Schedules of marital and separate assets and liabilities;
    • Perform forensic examination procedures to uncover undisclosed assets (asset tracing);
    • Determine the amount of income earned by the related parties and the expected living expenses they will incur during and after the divorce process;
    • Prepare Schedules of Net Disposable Income and Expenses;
    • Optimize support payments between Alimony and Child Support to minimize tax implications;
    • Assist in finalizing property distribution and support agreements; and
    • Review prior agreements for alimony and support compliance.

 

With this service, ACF is able to assist the attorney/client with determining such items as the level of child support and/or alimony required based on lifestyle expenses; optimize the allocation of alimony and child support when taking into consideration the federal and state taxes; determine the tax implication and possible tax savings by using alimony versus marital asset settlement; document how to avoid alimony recapture rules; prepare property division calculations, identify key assets and debts and provide a clear presentation regarding the allocation of each between parties; prepare alimony buy-out calculations; estimate pension plan benefits (based on the plan features, employee’s relevant years of service, and key dates); and prepare projections of income and net worth with and without inflation factors.  

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Fraud Prevention & Detection

ACF uses accounting and auditing skills to provide an analysis of financial records in conjunction with fraud and theft investigation.   Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.

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Tax Services


Federal and State Representation

During our years of experience dealing with many taxing authorities, ACF has achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.

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Tax Planning & Preparation

ACF prefers to take a proactive vs. reactive approach to tax services.   By keeping current on new tax laws and legislation, ACF is in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities.   ACF provides our individual and business clients with the taxation expertise and knowledge they deserve throughout the year. Tax services offered include but are not limited to:

    • Tax planning & tax return preparation for Individuals, Corporations, Partnerships, LLCs/LLPs, Estates, Trusts and Gifting;
    • Taxing authority representation;
    • Divorce negotiaions, support issues and asset allocations; and
    • Tax effects of buying and selling a business.

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Other Services


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 and over forty (40) years of professional service allows us the opportunity to function as expert witnesses in such cases.

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Litigation Support

Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques.  ACF has the ability to compile information efficiently and assist in preparing calculation and documentation concerning potential economic loss or damages.

Typically ACF will serve either as consultants to the client’s attorney or as an expert witness. These terms are defined below:

    *  Expert Consultant – As such, ACF is engaged by the attorney to develop      information that will be used by the attorney in a variety of ways.   ACF is usually not expected to testify; as a result, the documents created are there by protected by attorney-client privilege.

    * Expert Witness – ACF will often have to provide deposition and courtroom testimony.  As a result, the documents created by ACF, including reports relating to the case, are subject to “discovery” by opposing counsel.

In addition to the items listed below, ACF litigation support services can involve quantification of economic loss or damages, analysis of financial records, and theft investigation.

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