Accounting
The accounting services offered span a wide spectrum. We provide monthly or quarterly “write-up” services for many of our clients and we serve as “Controller” for others. Whatever your accounting needs, we can help you develop a solution. back to top

Auditing
John Thomas, CPA has many years of experience performing financial audits. The firm’s responsibilities serving our clients include preparing financial statements, annual audits, internal audits. The service industry is the major focus of our accounting and auditing experience, serving companies such as:

• Trucking companies
• Hotels and motels
• Restaurants
• Inter-modal transportation companies
• Office buildings
• Construction companies
• Manufacturing companies
• Banks
• Warehousing companies
• Retail businesses
• Not-for-profit organizations

The audits we have performed include an enterprise with annual sales of over $130 million and another company requiring tax preparation for all 50 states. back to top

Tax Preparation
John Thomas, CPA offers tax compliance and tax planning services to our clients. We prepare tax returns for many of our clients and we would appreciate the opportunity to prepare yours. We keep our clients apprised of alternatives in our constantly changing tax environment. We have the skills and resources to provide effective tax planning at all levels, including federal taxes, all fifty states, and Canada. back to top

Analysis & Business Consulting
In addition to tax consulting, John has experience in analysis and business consulting. His approach is to “partner” with the company owners to assist them in meeting their business objectives. For example, during the difficult times we now face, cash is “king”, thus increasing cash flow is necessary for many businesses to survive. Therefore, an analysis of the elements that impact cash flow and meetings with management to achieve the set goals is a project of this area of service. (For other examples, see Testimonials).

When forming a new company, the question comes up as to the type of organization that it should be, e.g., should it be a partnership, an LLC, a C corporation or a Sub S corporation? John works with you, your attorney, banker, and insurance agent to achieve the best organizational start.

It has also become difficult to obtain bank loans during these times. He has a network of associates that have achieved obtaining loans for “difficult” situations. The analysis of the situation and formulating a loan presentation package is essential in most cases to being approved for the loan, and John has extensive experience with this process. back to top

Mergers & Acquisitions
John has had many projects that include asset allocations, which affect tax results as well as financial accounting; step-up in recorded values based on certified appraisals; alternative and implications of lenders’ proposals and other matters. back to top

Forecasts & Projections
The firm assists its clients in presenting forecasts and projections of anticipated performance when the client is presenting a loan request package or planning a business acquisition. Also, the firm assists its clients in defining and documenting their goals and strategies in maximizing their revenue potential and in aligning their operating costs with current and projected revenue streams. Our projections and feasibility studies can help your business, whether you need them in planning for major acquisitions and dispositions of properties, financing expansions, or simply to aid management in making the right decisions for the future of your company. back to top

Forensic Accounting
John’s findings, after an investigation and review of a claim against one of his clients, which was over 50,000 pages of EPA charges and claims for services, were used in a court lawsuit. Some other projects include calculation of a partner’s interest in a local company, a copyright damage claim by a supplier, and an insurance company’s business continuation claims from their insured. back to top

Help for Companies
Our practice has been dedicated to assisting start-up, growing, and troubled companies. In this regard, we frequently provide assistance in obtaining and negotiating those difficult-to-finance business situations. Please refer to Forecasts & Projections and Tax Preparation for additional information. back to top

Peer Review
This term is used to describe the process of self-regulation of our CPA profession involving qualified CPA to review the work of another CPA or CPA firm to assure the Peer Review Committee that quality controls and/or financial statements comply with AICPA standards. John has performed peer reviews for over 20 years for many CPA in Tennessee. Fellow CPA are invited to call and discuss this process with him. back to top

Payroll Processing
Our payroll processing consists of entering data from time sheets, preparing checks, and calculating and transmitting payroll tax deposits, using the Electronic Federal Tax Payment System. We also record weekly and quarterly data for clients that prepare their own payrolls. From our compiled payroll data we prepare all filings, federal and state, on both a quarterly and an annual basis. back to top

Expert Testimony
John has given expert testimony in several courts on matters such as: the correct presentation of financial statements, the assessed claims by the EPA, and IRS tax claims. back to top

Tax Amnesty Agreement
If your company has been doing business in other states, but not filing all of the applicable tax returns with those states, you probably have a looming tax problem that could cause major disruption to your business.& We have helped other companies come to equitable agreements with most states, saving them tens of thousands of dollars and “closing the door” on all past years of non-filing. We have also helped individuals file prior years’ tax returns to “get current” with the IRS and relieve the pressures of being in a delinquent status. back to top

Mediation
This word “mediation” is defined as a process to hopefully bring about an agreement or reconciliation between opponents in a dispute. It has been John’s pleasure as a mediator to help parties resolve their differences in situations such as partnership and other business dissolutions and estate matters. He has worked with attorneys when it is a matter of “arbitration” which involves a more formal deliberation and /or when legal documents need to be prepared. John has experience as an executor and trustee of several estates and trusts. back to top

“When experience counts…you can count on John.”

MemphisCPA – help with tax audits, tax amnesty, payroll, peer review, etc.