Services

At Daugherty & Company, we offer a wide range of accounting, tax preparation and consulting services that are designed to fit the unique needs of each client.

Set up for New Businesses and Start Ups

A primary goal of the firm is to assist new business owners manage their investment, stay compliant with taxing authorities, and maximize their cash flow. We do that by setting up the accounting information system and apply for the necessary business tax accounts.

QuickBooks Support

Our staff includes professionals who understand the setup and operation of QuickBooks software. We can provide training and assistance in setting up the chart of accounts and clean-up work to make your books tie to the tax return or financial statements prepared by the accountant.

Accounting and Financial Statement Preparation

Accurate and timely accounting information may be your most valuable business asset. We will design an accounting or bookkeeping service that meets your need to make the most of this asset. Support can be monthly, quarterly or whichever reporting cycle needed.

When the situation requires the preparation of compiled financial statements, including contractor license requirements, our firm is ready to meet your needs.

Income Tax Return Preparation

We invest the time and resources to accurately prepare your income tax return by the promised date. Our clients include individuals who file income tax returns in multiple states and all forms of business, including C-corporation, S-corporation, foreign corporations (1120-F), partnerships, limited liability companies, proprietorships, and estates (including bankruptcy estates).

Tax preparation services also include assistance with IRS audits, tax liens, innocent spouse relief, IRS repayment plans, and year-end tax planning.

Payroll Services

Each year, payroll tax laws grow more complex. As the compliance and reporting requirements for payroll increase, our clients have found our firm to be a great resource for outsourcing payroll related activities. We offer an affordable, local alternative to large payroll processing services.

Government Contracting Support

Our staff has over 20 years of experience providing accounting support to federally funded contractors (to public and private companies), including ten years employment with a major Oak Ridge prime contractor and twelve years working with smaller private contractors. Services provided include preparing federal budget submission, developing and managing indirect rates, indirect cost pools and Incurred Cost submissions. We also provide support for Defense Contract Audit Agency (DCAA) audits, and can assist you with compliance to the Federal Acquisition Regulations (FAR).

Controllership and Consulting Support

Our firm can help fill critical needs for senior financial support by providing an on-site professional. Services offered include preparing annual operating budgets and strategic planning, CFO and controllership on an as needed basis, and other financial support on a short term or long term basis.

Tax Penalty Abatement and Mitigation Services

We are trained in working with Federal, State, and Local tax agencies, and have successfully negotiated tax and penalty abatements for clients, including offers in compromise. In one instance we negotiated a reduction of penalties and interest in excess of $100,000 for a large client.