Hewitt, Heerschap & Couch, PC

Tax planning and financial analysis from Pueblo

Hewitt, Heerschap & Couch practices accounting in Pueblo, Colorado, with three partners, and its site promises that experience across them. The firm frames the offer as an improvement to a client's bottom line through better tax planning and financial analysis, not just filing. Every client is assigned an on-call CPA to whom they can send questions by phone or email during the year, not only at filing time.

Areas the firm covers

The firm's site is arranged around these areas: tax preparation and planning, tax problems, small business accounting, a virtual CFO service, QuickBooks and advisory services.

Preparing and planning returns

The firm says that software may find deductions but an experienced tax professional gives better advice. For the client it prepares the right forms with accurate figures, claims every deduction and credit, files electronically for faster refunds and works on payroll withholding so each tax authority receives the correct amount. For sole proprietors it will tidy untended books and prepare the Schedule C, then help set up a system to keep records current. Planning ideas described include splitting income across family members or entities, shifting income or expenses between years, using tax-advantaged investments, tracking itemized deductions and taking credits.

Resolving tax problems

Missed filings, an inability to pay and unremitted payroll taxes are the examples given of problems that tend to catch up. The firm reviews earlier years, helps obtain the tax record without raising red flags, assesses liability with penalties and interest and then negotiates. Possible outcomes range from a reduced settlement or a payment plan, which also guards against seizure of assets, to relief on penalties or compound interest and innocent spouse relief. Bankruptcy is mentioned as the last resort when negotiation cannot work.

Business accounting

For businesses of all sizes the firm keeps a chart of accounts, files federal, state and local returns and runs periodic internal audits to catch double billings or unrecorded payments. Bank reconciliation compares the records with monthly statements and can reveal lost deposits and checks, unauthorized transactions and improper bank fees, and may trigger an investigation into fraud such as forgery or embezzlement.