Services

Transaction Advisory Services

Selling. Buying. Merging. Expanding. Going solo. The logistics can be complicated, and the consequences are significant. Pricing, financing, cash flow, and tax accounting/consequences are just a few of the considerations when buying, selling, or combining businesses, or when you are expanding, right-sizing, looking at significant capital expenditures, admitting new partners or investors, or just changing your business form.

We can help you at all points in these timelines; we can even help you plan the timelines, from initial conception to closing – and beyond. Cash flow and tax projections, transaction structuring, strategic advice, and more. Let us help you plan, forecast, and execute your transactions.

Strategic Planning

We tend to live and to run our businesses tactically, sometimes even moment to moment, attacking the next challenge as quickly as possible, knowing the next one is right behind – or beside – it. The luxury of time to plan at a higher level, to think strategically, is not just handed to business owners and executives. That time has to be seized, carved out of the wilderness of our daily activities, so that we can spend it considering the important questions of why, who, when, and what. Disciplined, focused strategic planning is an art, a process both meditative and strenuous, a one-day or two-day “gut check” to stop, draw or re-draw the map, check the gear, assign roles, and get back on the trail. We have worked with many business owners and executives to build strategic plans, tweak existing plans, and refocus efforts, serving as an objective and informed external voice, armed with tools for financial analysis, forecasting, and business planning.

Estate & Gift Planning

You’ve worked hard to accumulate assets so that you and your family may enjoy the wealth that is a reward for effort and perseverance. You deserve to choose how your resources will be distributed. Through thoughtful and purposeful estate & gift tax planning, we give you the power to take more control over the ultimate destination of your assets and the creation of your personal legacy.

We will work to help protect your interests and those of your family, while allowing you to meet your financial goals. From tax and accounting decisions, to succession planning and business valuation, we integrate seamlessly with your financial planning and legal advisors to develop estate, gift and trust plans that meet your goals and needs. Taking action now is essential if you want to help minimize your heirs’ tax burden.

Our Estate Planning and Trust services include:

Monitor and adjust financial plans to accommodate changes in individual or regulatory circumstances
Gift planning
Portability planning
Estate and trust administration assistance
Business succession planning
Business valuations
Cryptocurrency reporting
Preparation of federal and state individual, business, fiduciary, estate, inheritance, and gift tax returns, including Federal Estate Tax Form 706, Federal Gift Tax Form 709, Fiduciary Tax Form 1041, and all appropriate state tax forms
Defer income tax paid by heirs through appropriate timing of distributions from the estate
Reduce income tax on future sales and dispositions of inherited assets by determining the correct cost basis of assets received from the estate
Estate inventory and valuation
Multi-year tax projections as a roadmap for multiple generations

Tax Strategy & Tax Compliance

The tax planning and compliance services we provide are designed to give you the power to keep more of the money you earn. We do this by helping you identify tax savings opportunities available to you and your business, on a federal, state, and local level.

We have the technical skills, knowledge and dedication to sophisticated tax approaches that can take you beyond simple compliance and into the beneficial realm of strategic tax planning. Whether it is a reduction in your personal tax burden, estate and gift planning to build your legacy, or identifying available tax credits and incentives for your business, our guidance and implementation of an intentional and thoughtful tax plan gives you the power to ensure that you take every possible measure to achieve the best possible tax outcome for your business and fam

Services provided:

Income tax planning
Income tax return preparation (individual & entity)
Estate & gift tax planning
Audit representation
State & local income tax issues
Transactional tax planning
Asset protection

Succession Planning

There are many considerations involved in finding the right succession plan for your situation and wishes. Succession planning can mean transferring a life’s work to family heirs, the sale of a business to key employees, or the positioning of a company for outside sale. Much depends on your future plans, the availability (and desire) of children to take over the business, and market conditions influencing the sale of the company.

Once decided which path is the right one for your business and your family, we go on addressing issues such as restructuring the business including financial reporting, tax consequences, and retirement income projections. And we are also acutely aware of and sensitive to the many personal issues that affect any family business situation. Our goal is to structure a succession plan that meets the needs of all generations.

We help to create and execute exit strategies for multiple generations of family-owned businesses. We work closely with clients to facilitate communication and identify the most appropriate candidates for leadership positions. Our regular meetings regarding the scope of the plan keeps participants informed about business operations and assets. We also provide financial projections, financial statements and support for business valuations that are an integral part of the planning process.

Our succession planning experience offers a proven framework for developing a practical succession plan. Each plan is customized to your family, your business, your goals, and your values.

Our succession planning services include:

Income tax planning
Income tax return preparation (individual & entity)
Estate & gift tax planning
Audit representation
State & local income tax issues
Transactional tax planning
Asset protection

Outsourced Accounting & Advisory Services

Many companies face a dilemma: lack of support and guidance in managing financial, accounting and tax issues. They are often staffed with limited resources. Outsourcing with Carraway Cooley Accounting & Advisory Services team can make a meaningful difference for your business.

Accounting, financial statements, budgeting all take time and attention away from the core focus of managing operations, overseeing employees, nurturing customers and strategic development that leads to profitable growth. When it comes to financial administration and business planning, outsourcing these critical business functions through Carraway Cooley Accounting & Advisory Services gives you the ability to spend more time focusing on what really matters – growing your business.

You can benefit from Carraway Cooley’s proven experience with all types and sizes of businesses in a variety of industries such as family offices, start-up, emerging and growth-oriented businesses.

The support and guidance provided by our team delivers multiple benefits and added value to your company:

Gain experienced, professional assistance without hiring additional staff
Streamline routine business processes
Improve financial reporting, including real-time data access
Enhance financial controls and management
Get proven “best practices” advice and guidance specific to your industry
Save time and money

Estate Settlement Services

We manage all aspects of estate settlement including serving as executor, co-executor, or court appointed administrator for an estate.

Administration Services:

Payment of debts and administrative expenses
Coordinate notice to creditors, review claims filed against estate, payment of valid claims, contest invalid claims
Inventory, safekeeping and custody of estate assets
Collection of debts owed to decedent
Collection of income and distribution of income earned by estate to beneficiaries
Distribution of final estate assets

Valuation Services:

Valuation of publicly-traded stocks, bonds, partnership interests, mutual fund shares, etc. on the date of death and the alternative valuation date
Coordinate appraisals for real estate, closely-held business interests and tangible personal property

Tax Services:

Preparation and filing of final income tax return
Preparation and filing of fiduciary income tax return
Optimize and segregate income and expenses between individual and fiduciary income tax filings

Accounting Services for Estate Assets:

Establish and maintain estate account
Processing and reporting of income received on estate assets
Transparent reporting of disbursements made by the estate