Accurate and timely accounting information is a necessity for any successful business. Hoffman & Brobst, PLLP can assist you on either a temporary or on-going basis. Due to the size of our firm, our clients receive incomparable, personalized, quality service. We offer many of the services offered by a traditional accounting practice, as well as some very unique services including:
- Tax Planning and Return Preparation Services
- Auditing Services
- Third Party Retirement Plan Administration Services
- Windpower Expertise
- Section 105 Plan (Employee Medical Reimbursement Plan)
Tax Planning and Return Preparation Services
Expertise. Peace of mind. These are the things that you can expect your tax advisor to provide. We view our relationship with each of our clients as an ongoing partnership and strive to provide you with quality, up-to-date tax return preparation and advice. We keep abreast of current tax laws throughout the year to minimize your tax liabilities and to maximize your future opportunities. Whether you are an individual or operate a multi-tiered corporation or partnership, our partners and staff can accommodate your needs for tax planning and preparation.
Compilation and Review Services
Many times third parties will require that you provide them with compiled or reviewed financial statements. We will assist you with the preparation of the necessary financial statements and preform the required procedures to provide accurate and timely financial information. We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency.
Third parties relying on your financial statements often require an audit for assurance. In order to conduct an audit, we examine your company's financial statements in accordance with generally accepted auditing standards. An audit requires us to examine internal controls and to complete substantial testing of the information underlying the financial statements. We then document our opinion as to whether the statements are fairly presented in conformity with generally accepted accounting principles.
Financial Planning and Financial Services
Effective management of financial affairs requires extensive knowledge, organization, and constant vigilance. Our firm provides a complete range of consulting and advisory services to help with the complexities of financial planning. We truly care about our clients and strive to form lasting relationships with each of them - providing beneficial information, access to a wealth of resources, and a proactive stance in serving each client's needs.
Our financial planning services include:
- Investment Consulting
- Financial Planning to Achieve Specific Goals
- Retirement Planning
- Estate and Business Succession Planning
- Insurance Consulting
Third Party Retirement Plan Administration Services
Whether your business establishes a profit sharing plan or a 401(k) retirement plan, your business will need the assistance of a third-party administrator (TPA), we can assist you.
Our TPA Services Include:
- Plan Document and design - We'll structure your retirement plan to meet your Company's goals and objectives.
- Complete Plan Administration - From 5 to 500 employees, we have the expertise and tools to provide your business with complete retirement plan administration.
- Services include:
- Employee communications.
- Detailed quarterly account statements.
- All required IRS and Department of Labor compliance testing.
- Preparation of all governmental documents.
Please contact Barry Evenstad to discuss your situation and design the right plan for you and your Company.
Complete Payroll Processing Services
Whether you have only one employee or 500 we can take the payroll process and the associated headaches out of your business. Through our affiliate, H & B Payroll Solutions, Inc. we offer a complete payroll processing services. From check preparation, tax depositing, to quarterly and annual filing, we do it all.
- Payroll check preparation.
- All required federal and state tax depositing.
- Reguired depositing of retirement and flex plan contributions when in conjunction with other services offered by us.
- Electronic depositing of employee paychecks.
- Preparation of all quarterly federal and state payroll reporting forms.
- All year-end reporting and W-2 preparation.
Please contact Patrick Louwagie or Jean Schueller for more details and free price analysis.
At Hoffman and Brobst PLLP, we have become an area leader in the ever-growing wind industry.
Since the late 90's, we have been assisting numerous projects with various services including:
- Initial feasibly studies
- Assistance with securing the necessary equity and debt financing
- Financial management during the development process
- Operational financial management
- Expert income tax reporting knowledge
- Financial statement auditing
Our Knowledge and Expertise
- Regionally known expert in the industry
- Years of experience in all financial aspects of wind projects
- Currently assisting projects throughout the upper Midwest including:
- South Dakota
- Have developed relationships with key individuals in the industry.
- Members of the American Wind Energy Association.
- Attended numerous national and regional wind conferences
- Advised national leaders as to tax issues relating to the wind industry
What We Will Do for You
We will work with you or your developer to be sure your project is a viable successful project. As the industry continues to evolve, we will stay abreast of the changes in the capital and financial structure of small to mid-size projects to insure that your project has the best opportunity for success.
Ongoing Operational Financial Management Services
We currently offer a turnkey operational financial management system to provide independent control and reporting on a project's financial activity. We are currently providing this service to over 25 projects and plan to continue to expand this service in the future as the industry grows. We've found this service benefits all parties involved. The equity partners and financial lenders receive timely, independent, accurate financial information, and the local developer or owner avoids the headaches and responsibility of bank account management, invoicing, depositing, bill paying, and financial and income tax reporting. If you're interested in any of the above services, please contact Patrick Louwagie or Gary St Aubin.
Section 125 Plan (Flex Plan)
Through our affiliation with Total Administrative Services Corporation we are able to provide complete Section 125 plan administration. This benefit plan allows your employees to deduct various medical and daycare expenses on a pre-tax basis, thus reducing their taxes and increasing their takehome pay. It also saves your business related payroll taxes. In any cases your employer payroll tax savings alone will offset any ongoing maintenance fee.
You can chose between the following:
Insurance Only Plan
- Only allows pretax deduction of employee share of health and group term life insurance
Complete Flex Plan with Flexible Spending Accounts
- In addition to health and life insurance, your employees can elect to have additional expenses deducted on a pretax basis.
- Such expenses include:
- Eligible medical costs such as deductibles and co-pays
- Dependent care expenses
Complete administration service which includes:
- Employee online access to their account
- Debit cards
- Timely reimbursement
- Phone enrollment assistance
- Complete Section 125 compliance and IRS reporting
For more information please contact Jean Haug, our benefits specialist.
Section 105 Plan (Employee Medical Reimbursement Plan)
Through our affiliation with Total Administrative Services Corporation we are able to offer Agriplan and Bizplan for Small Businesses which allows small businesses to reimburse employees for certain out of pocket medical and related costs on a pre-tax basis.
Expenses Which Small Businesses can Elect to Pay for Employees:
- Health Insurance Premiums
- Tax Qualified Long Term Care Policy Premiums
- Uninsured Medical, Dental and Vision Care Expenses
- Group Term Life Insurance ($50,000 Max)
- Disability Income Insurance Premiums
Our Services Include:
- Complete Plan Design
- Plan Document
- Plan Updates
- Toll-free hotline for questions or changes
- Annual Year-end summary
This is the plan of choice for most farm and small businesses which only employ their spouse. Under these circumstances, offering a 105 plan allows a business owner to deduct up to 100% of the above expenses as an ordinary business expense.
For more information, please contact our benefits specialist, Jean Haug.