Are you aware that we provide the following services?

Clients seeking specialized services might be unaware that we can meet many unique needs. As a friendly reminder, here is a sample of the variety of services we provide:

Asset Management – Our asset management services are provided by our affiliated company, RiverCities Asset Management, LLC, a registered investment advisor. Our goal is to establish a long-term relationship by listening to you, helping you quantify your financial objectives, determining the return you need to achieve them, and the risk with which you are comfortable.

Assurance Services – As a business owner or manager, timely, accurate financial information is critical to assist you in making business decisions, or to provide information required by third parties. Financial Statement Assurance Services offered by Riney Hancock CPAs include, but are not limited to: audits, reviews, compilations, internal control analysis, revenue and cash flow enhancement.

Business Management and Consulting – Riney Hancock’s business consultants not only offer assurance services, but go beyond analyzing your financial data to design solutions and prepare your company for the future. Planning is an important element to a successful business. To stay ahead in today’s economy, a company must have discipline and focus on the future. Riney Hancock consultants can help your business stay on track to reach your goals and be more profitable.

Client Accounting Services – In order for businesses to devote more time to other areas of operations, Riney Hancock CPAs offers a variety of accounting services to meet the routine financial needs of our clients.  It is often quicker, easier, and less costly than hiring personnel with the expertise to handle these specialized support functions.

Estate and Trust Planning – Planning your estate is one of the most important things you can do for yourself and your loved ones. Riney Hancock CPAs will work with you to develop an effective financial plan to build your estate, conserve your assets to ensure your loved ones’ future financial security and to keep estate taxes to a minimum. We realize that estate planning is an ongoing process and we are dedicated to working closely with you to develop an effective estate plan tailored to meet your financial goals and objectives.

Fraud Prevention and Detection – Fraud is an expensive and serious problem that can occur in virtually all organizations. Internal control studies can help your organization identify weaknesses in your procedures and assist in developing procedures to help you deter fraud and assist in detecting fraud, if it occurs. Organizations of all types and sizes are susceptible to fraud, but small organizations (those with a lack of staff for proper segregation of duties) are usually the easiest targets.

Litigation Support – Riney Hancock CPAs has decades of experience acting as consultants to attorneys. Our forensic accountants are not only acknowledged authorities; they understand what attorneys need from an independent expert – communications skills. We provide experts who can explain complicated findings and issues with easy-to-understand testimony and reports. Our services include, but are not limited to: preparing and critiquing expert reports, damage analysis, business interruption analysis, and expert testimony.

Medical/Dental Practice Management – We recognize the special needs and issues facing today’s healthcare professionals concerning practice management, third-party reimbursement, regulatory compliance, and other areas unique to health professionals. The Riney Hancock CPAs Medical/Dental Group (MD) strives to anticipate and meet your ever-changing needs. Our in-depth understanding of the regional healthcare environment, combined with our specialized knowledge of the healthcare industry, enables us to provide high quality services on a cost-effective basis. Our services include, but are not limited to: new practice set up, practice management consulting, profitability enhancement, compensation consulting, and group practice legal issues.

Operations Review – An operations review involves various tests and measurements of a business’s vital signs which include internal controls, efficiencies, and various metrics specific to your industry. The first step in our review is to interview accounting personnel to gain an understanding of their job functions.  This includes a system walkthrough whereby we gain an understanding of document flow, internal controls, revenue capture, purchasing, inventory, payroll, and all of the major cycles within an entity. We can design the scope of the review to be general or comprehensive in nature.

Payroll Services – We offer a wide range of payroll services which would allow your management and staff to concentrate on your core business instead of the time-consuming task of processing payroll. Our team of payroll professionals is well-trained in payroll regulations and procedures at federal, state, and local levels. We also stay abreast of payroll changes that may impact your business. Our payroll staff maintains memberships in the American Payroll Association, Tri-State Payroll Professionals Association, and Owensboro Society of Human Resource Management to keep abreast of the changes in the field. RH payroll consulting services are managed by a Certified Payroll Professional (CPP). Our payroll processing services include direct deposit, remittance of electronic payroll tax payments, preparation of all payroll tax returns, and payroll consulting services.

Retirement Plan Administration – Employer-sponsored retirement plans offer you and your employees a vehicle for saving for retirement in a tax-advantaged environment. When using a third-party administrator, such as Riney Hancock CPAs, you are free to choose your investment provider without limitation by the plan document or availability of administrative services. If you choose to self-trustee your plan, you may also invest with a variety of companies. We work with banks, brokers, mutual fund companies, insurance companies, etc., allowing you to select the investments which best meet your needs. We offer a wide range of retirement plan services, including design, installation, and administration of plans.

Tax Consulting and Preparation – We have a dedicated team of tax professionals who will be proactive in meeting with you to develop a tax strategic plan that fits your needs. You have a primary team leader as your contact with the firm, but you have the benefit of many other specialists who are available to help you reach your financial goals. We employ a proactive strategy to serving your tax needs. By staying up-to-date on tax laws, we are able to identify tax planning opportunities that minimize your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they require throughout the year, not just during tax season.

Valuations Services – The value of any business is the present value of its future cash flows. A valuation is generally a complex endeavor. One must consider several approaches, meth­ods, and factors in the valuation of closely held companies. No formula can be devised that will be generally applicable to the different valuation issues that arise. Because placing the proper value on a business is critically important, you need to use someone with experience and a proven track record – Riney Hancock CPAs. A proper business valuation requires an independent expert, familiar with accepted valuation methodologies, who has the necessary experience to understand the complexities of valuing a closely-held business. The valuation services of Riney Hancock CPAs are performed by individuals who are Certified Valuation Analysts (CVA).

For more information on our services, please contact your Riney Hancock financial advisor.