Tax Compliance and Planning D.J. Gustafson & Co. realizes the goal of all clients, whether corporate or individual, is to minimize income taxes.  We quickly realized many years ago, due to the enormous complexity of the Internal Revenue Code and the dynamic tax environment we live in, that to best serve our clients, we needed to dedicate some of our resources exclusively to the tax area.  We have dedicated team members, many of whom hold Masters of Science degrees in Taxation, and spend most of their day helping clients minimize their taxes through planning or compliance.  We stress the importance of planning early with our clients and the tax benefits it can reap.  The techniques available to reduce income taxes are greatly diminished after the client's year-end has passed or the transaction in question is complete.  Through this educational process clients learn to contact us before the transaction is complete, allowing us to take full advantage of the loopholes in the tax law. Accounting and Auditing Our firm has successfully completed rigorous quality reviews of our accounting and auditing practice in accordance with the stringent quality control standards set by the American Institute of Certified Public Accountants.  We are also members of the Accounting and Auditing FASB task force. Management Consulting Services D.J. Gustafson and Co. offers a wide variety of management consulting services as follows: Lease/buy decisions - We are prepared to help you analyze the most complex leases and discuss the pros and cons of each alternative, including the tax effects, effective interest rate and impact of residual values. Inventory shrinkage & optimum levels - We can help you identify and resolve problems with your inventory due to spoilage, theft, breakage, overage and stockouts which reduce your gross profit and eat away at your bottom line. Bank financing and bonding - We educate management on the meaning and importance of financial statements, their presentation and how management's involvement and knowledge could impact the banker or bonding agent's decision or increase their chances of obtaining financing. Forecasts and projections - We can help you assemble a set of forecasted or projected financial statements to obtain financing from individuals, banking institutions or venture capitalists.  Overhead allocation and costing - We can help you identify components of an overhead pool and derive an allocation method most meaningful and cost effective for your business. A properly derived overhead allocation formula allows management to accurately bid and price jobs taking into effect all costs direct and indirect associated with the completion of that job or item. Budgeting - We can help you establish reasonable, obtainable goals which allow management to measure and reward their progress or quickly correct problem areas which might have gone unidentified. Budgeting allows management to be proactive in their decision making in contrast to reactive. Profit center structure & analysis - Many businesses are multifaceted and derive income from various related sources. D.J. Gustafson & Co. can aid you in identifying these profit centers and assist in analyzing each center, enabling management to measure their performance separately and in the aggregate. Business plans - Business plans are an integral part of any successful business regardless of the industry. Business plans lay the foundation and direction a business will take including marketing plans, financing sources, projected income and expenses, corporate vision and mission statement. We can assist you through the entire process of planning your business' future. Succession plans - The importance of succession planning is often overlooked by many entrepreneurs and family businesses. Many years of hard work can be ruined overnight due to illness, death, retirement or unprepared management. We can help senior and junior management plan for a smooth transition thru well structured buyout agreements, prearranged financing, and a well documented plan. Bookkeeping and Payroll Services Many closely held family businesses either do not have the resources available to employ an in house accountant, or are unable to locate a dependable, skilled bookkeeper.  We at D.J. Gustafson & Co. realize this need and are prepared to become your internal accountant/bookkeeper.  We have experienced bookkeepers on staff available to assist you in all phases of bookkeeping at a reasonable price.  Some of the bookkeeping services we provide consist of the following: Recording and summation of cash receipts and disbursements Monthly bank reconciliation’s Monthly/Quarterly Payroll tax filings Monthly/Quarterly Sales and Use tax filings Monthly/Quarterly Meals tax filings Computer data input Monthly bill paying and reporting Estate Tax Planning Estate tax remains a huge untapped source of funds for the federal government.  Under the 2001 Tax Act, the applicable exclusion amount for estate tax purposes increases in steps until it reaches $3.5 million in 2009 (the applicable exclusion amount for gift tax purposes remains fixed at $1 million). Top estate tax rates are 45 percent in 2007 through 2009.  Basic estate planning can save hundreds of thousands of dollars in estate taxes.  In addition to saving taxes, your estate plan and the proper use of trusts and wills allow you to: Provide your spouse with prearranged professional management of assets. Set aside money for education of children or grandchildren. Make sure your assets remain in your family. Direct the investing, use, and timing of distribution of assets after your death. Estate planning is important whether you are wealthy or whether you have only a small estate. In fact, estate planning may be more important if you have a smaller estate because final expenses will have a greater impact on your estate. Wasting even a single asset may cause your loved ones to suffer from a lack of financial resources. Due to the complexity of Estate Planning laws, D.J. Gustafson & Co. has put together a team of professionals who specialize in Estate Planning.  We can assist you in all aspects of formulating an estate plan best suited for you. Business Valuations There are many reasons why we are asked to value a business.  Purchasing a new business, selling an existing business, buying out a partner, admitting in a new partner, estate tax purposes, just to name a few.  Sometimes management may just be curious to value what he or she has amassed through years of hard work.  We at D.J. Gustafson & Co. are sensitive to the many reasons for obtaining a valuation and employ the proper techniques and methods for each type of valuation.  We have specially trained team members to perform these engagements.