Accounting Services
Our goal with EVERY client is to EXCEED your expectations of a CPA.
How have we built our tradition of excellence at Cavett Accounting? It starts with a commitment to service that places the needs of the client at the forefront. There is no cookie-cutter, one-size-fits-all solution to the accounting needs of our clients. In fact, it’s just the opposite. In our experience, we’ve learned that clients have goals and career paths of all different shapes, sizes, and colors that evolve over time.
We keep up, while you keep on.
Whether you are growing a business, climbing the ladder in your workplace, or are simply busy with the daily demands of life, we understand your life is too busy to even begin to keep up with ever-changing tax code.
Year in and year out, laws and regulations to local, state, and federal tax systems are added, abandoned, and altered. As these changes occur, Cavett Accounting is your partner in the journey, analyzing your financial situation with the scope of ever-changing factors.
Along the way, as forms and paperwork with names like 1040, Schedule C, 1099, W-2, and W-4 stack up, we keep you organized and on point. Our goal is to utilize our decades of experience and expertise to take the guesswork out of individual and business tax returns, estate planning, investment analysis, and beyond.
Quality accounting and advice, delivered on time.
How much do services cost? How quickly can accounting services be delivered? What are other advantages of entrusting my financial demands into the hands of the professionals at Cavett Accounting?
Our firm’s objective is to provide premium-quality financial services to serve your immediate and long-term considerations. Cavett Accounting emphasizes three factors:
● Business and Individual tax returns provided at reasonable cost to the Fargo-Moorhead area.
● Accounting services that are completed in a timely manner.
● Individualized accounting advice offered through the lens of YOUR needs.
Ultimately, if you’re looking for a partner that serves eastern North Dakota, western Minnesota and beyond with relationship-based service, while seeking to develop creative solutions tailored to demands of your situation, Cavett Accounting eagerly awaits the opportunity to meet with you.
We provide an extensive list of services, including the following below:
Business Consulting
Every business is burdened with strategic, financial, operational and technological challenges. Business planning requires continual monitoring and evaluating whether you are starting, maintaining, or in the process of a business transfer. You need a solid financial plan in place to turn a profit. We want to help you manage your business, establish internal controls, and use appropriate technology to improve functional performance. We have positive experience in a plethora of industries to move you in the right direction.
Tax Preparation
Tax laws are confusing. There is no easier way to say it. Unless your financial situation is simple, it is impossible to stay abreast of all the changes to the tax laws. Even the use of tax software gives no guarantee you will receive the proper savings. It is easy to overlook deductions and credits. Why not use every legal means available to minimize your taxes? We can help you understand tax implications — whether you are an individual or a business - before you make them. Our staff monitors changes in the tax laws. The recommendations we give will create strategies that can be implemented to save you money.
Financial Statement Preparation (Business/Personal)
Financial Statements are a great tool for both individuals and businesses in making financial decisions. Statements can be used as a basis to evaluate businesses, catch potential problems, and for future planning. By using financial statements properly businesses and individuals can increase profitability in their industries. Immediate impacts of a financial statement allow industries to operate at full capacity on a daily basis. We can customize financial statements to meet monthly, quarterly and yearly concerns and expectations.
Accounting Software
There are several great software packages to help individuals and businesses. Often times packages are used without any educational training and mistakes are made. We can help train and educate individuals and businesses on how to use Quickbooks before mistakes are made. Questions arise and we are there for your support. We have time-saving tips to help you use accounting software more efficiently.
Retirement Planning
In today's world people are working longer into their golden years. Working gives a person a feeling of independence. Proper financial planning will ensure financial independence now and through retirement. We can offer advice on retirement plans for both individuals and businesses. Once the plans are set-up we can effectively and periodically review your plans to ensure independence. It is never too early to start thinking about your future!
Tax Planning (Charitable or IRA Contributions)
Tax planning is beneficial for individuals and businesses. It is important to have your tax situation evaluated to ensure you do not have to pay penalties and to avoid tax liability. The IRS says you need the smaller of 90% of the current years total tax or 100% of the previous years totals taxes paid in by the end of the year to avoid penalties. We are aware of the changes in tax law occurring throughout the year in order to minimize your tax liabilities. Your needs are our concern. We can accommodate you to maximize your future.
Investment Analysis
Investments often require long-term strategies. As a client you want these strategies to be cost-effective while being easy to develop and maintain. Our personalized investment analysis is tailored to your financial assets and goals. Tax implications, affecting your portfolio now and in the future, are taken into consideration. This allows us to readjust strategies when necessary. We develop customized strategies for a full range of investment vehicles. Our freedom is your freedom.
Estate & Trust Planning
Sometimes it is a challenge to get financial affairs in order. It is important to have a solid plan in place for your future. We can offer Estate Planning that maximizes on legacies. Our firm stays on top of current legislative changes and proposals, rules and regulations and all other federal and state taxation laws. Whether you are looking at minimizing taxes on a transfer of assets or trying to provide security for your family, it is in your best interest to have professionals guide you through the complex process of getting your financial affairs in order.
Strategic Planning
Strategic planning is a process with an integrated set of activities or actions aimed at developing sustainable, competitive advantages for your practice. The process involves reviewing the current structure of your practice, developing projections, and working out a plan to accomplish the goals and objectives of the practice. Everyone in the business must be on board with implementing changes. Successful implementation must be ongoing. Businesses must adjust (the planning process) and remain committed to the future courses of action when conditions change. Within the business, it is vital to understand that some developments are controllable and some are not. Control what you can, but do not bother with what is uncontrollable. There needs to be a consensus within the business on the future direction. The clients being served need to be identified and a plan to better serve them needs to be put in place. The needs of the owners and employees also are vital to the success of the business. There needs to be an understanding of how to meet those needs. Key areas to address are: expectations, governance, administration, compensation, and financial issues. We have helped businesses start and restructure business practices in order to grow.