The Business Sectors We Serve
Audits of Public Companies and SEC Reporting
Mahoney Sabol is one of the few firms of our size with the ability to service publicly held companies. We can handle the auditing and financial reporting needs of SEC companies, as well as compliance with Sarbanes Oxley, the PCAOB* and related federal and state corporate tax issues. *Public Company Accounting Oversight Board
Automotive
Your automotive business is a complex income engine. Inventory, floor planning and monthly statements to manufacturers are just three reasons why. You must also manage the two-way traffic of receivables and payables coming from multiple sources: repairs, service, rebates, financing, warranty work and manufacturer credits. Tight, accurate financial controls are essential in keeping your operation going and the income flowing. Let us help with all of the above.
Construction
As a contractor, your accounting, auditing, tax and consulting needs stretch from your reception desk to city hall. Because our experts have been involved in your industry on a full-time basis, we have the requisite skills and knowledge necessary to serve you. Services include the percentage-of-completion and completed contract methods of accounting for long-term contracts; tax considerations for small and large contractors; development and application of overhead rates; claims consulting; bonding and banking practices; internal accounting software needs; payroll; insurance issues; and much more.
Healthcare
Not every accounting firm is equipped to address the multitude and diversity of issues of the healthcare industry. Mahoney Sabol does. Whether you own or oversee a long-term care facility, a hospital, a pharmacy, an oxygen equipment company, a same-day surgery center, or any other healthcare entity, we offer the full range of accounting and business services, including: Audit, Tax Compliance, Employee Benefits Plan and Pension Plan Audits, Preparation and Review of Cost Reports, Certificate of Need Consultation, Single Audit Compliance (state and federal grant awards), OHCA* Compliance Review and Reports. * Connecticut Office of Health Care Access
Investment Companies
We are fluent in the aspects of venture capital funds and their investments. Typically complex and challenging, these deals require a level of understanding and expertise that we are proud to bring to the table.
Manufacturing
What’s the key to running a successful manufacturing business? A system of tight inventory controls and costing. Our experts provide this foundation while also addressing interstate and international commerce issues. Let our experienced professionals handle the complex federal and state tax filings.
Pension Audits and Filings
As required by the US Department of Labor for plans with 100 or more participants, we audit a variety of pension plans. The specialized testing, rules and regulations that apply are complicated, requiring a specialist with years of experience. We’re proud to offer expertise equal to the task. We also prepare the related tax returns.
Professional Service Companies
Whether you practice medicine or law or own an architectural, engineering, advertising or other professional business, the chances are you’re not an accountant or tax expert. Allow us to be your source of expertise. Not only can we assist you with your year-round filing needs, but we can also help you with wealth building and management. We run a professional services firm ourselves, giving us special insight into challenges and issues you face daily.
Real Estate
Most of our work with your real estate business will be tax-related. We can set up your operation to maximize the tax benefits and minimize the legal risks. We function primarily as consultants. Once your business is set up and the real estate is purchased, we’ll continue to serve your yearly tax compliance needs.
Retail and Distribution
Controlling inventory and costs while managing payroll can be tricky in any retail operation. Sales tax issues complicate matters, especially if your business is successful enough to operate across many states. And if your company goes global, international tax issues enter the picture. We can help with all of these concerns, from tax filings to cost management of daily operations.
Sports and Entertainment Professionals
Whether you travel with your team, your band or as an individual performer, you have to file taxes in every state where you earned income. For most professionals in this line of work, it adds up to complicated multi-state filings. Let us compile the information, prepare the tax returns and assure your compliance.
Technology
Your high tech company — whether in the biomedical or software industry — may have the same concerns as a manufacturer. But your compensation package may be distinctly different. Let us assist in working out stock options and other incentives for your key employees, while tending to the myriad other financial issues of running your business, from costing to sales tax filings.
Wind & Energy
Mahoney Sabol & Company can provide a seasoned professional team with proven industry expertise ready to guide the financial and tax aspects of your projects from formation, financing, development, construction and operations.
Project Finance:
- Review of project models for GAAP (Accounting principles generally accepted in the United States of America) and tax law compliance and presentation
- Review of key finance document provisions as they relate to financial and tax reporting matters. Look to structure loan compliance and maintenance in an efficient and effective manner based on the capabilities (or limitations) of the Company’s accounting system and personnel
- Development of monthly loan compliance documents used to monitor covenant and major loan provision compliance
- Development and maintenance of periodic draw package and related support (construction draws as well as operating period draws) in compliance with loan provisions
- Liaison with key bank and independent engineer personnel.
- Development of accurate cost to complete models.
Project Accounting:
- Development and maintenance of periodic reporting packages in connection with operating assets. Including review of loan documents to determine information required, liaison with all necessary company departments (accounting, asset management and operations).
- Development and maintenance of project operating budgets.
- Correspondence and presentation to banks, independent engineers and tax equity partners.
- Development and maintenance of revenue and expense reporting.
Audit and Specialized Accounting services:
- Full service audit firm. Member of the BDO Seidman alliance and registered with the PCAOB (Public Company Accounting Oversight Board) and thus qualified to perform audits of public entities.
- Extensive experience with securities registration statements as well as periodic reporting under the rules of the SEC (Securities and Exchange Commission)
- Review and documentation of hedge transactions
- Expertise with the accounting and disclosure requirements in connection with the following accounting standards frequently found in wind energy financial statement disclosures:
- Accounting and disclosure or tax equity transactions and calculation of non-controlling interest balance
- Statement of Financial Accounting Standards (SFAS) No. 7 “Accounting and Reporting By Development Stage Enterprises
- Accounting for asset retirement obligations
- Fair value accounting and disclosures
- Assets held for sale accounting and disclosures
- Going concern considerations
- Accounting for stock based compensation
- SFAS 143FASB
- Hedge accounting (energy and interest rate swap agreements)
- Research, documentation and disclosure of accounting standards
- Preparation of accounting position papers as support for specialized disclosures. Review with external auditors:
- Preparation of internal and audited financial statements
Tax Compliance Services:
- pecialized expertise in the following areas of tax law and compliance:
- Accelerated depreciation
- Hedge accounting disclosures
- Partnership tax law
- Production tax credits
- Code section 83(b)
- Code section 704 (b) and (c) allocation issues
- Code sections 409 (a) and 482
- FIRPTA rules and compliance (Foreign Investment in Real Property Tax Act)
- Technical partnership terminations
- Transfer tax
- Various state tax issues including, nexus, sales tax, property tax, exemptions, apportionment.
Valuation and Cost Segregation Services (through our BDO Seidman Alliance):
- Valuation (Trenwith Group, LLC) – enterprise and segment valuation. Valuation of stock based compensation and related awards.
- Cost segregation studies (BDO Seidman Cost Segregation Team). Utilized for accelerated depreciation allocation in connection with capital assets.