Waddell, Smith, Magoon and Freeman, LLC
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Waddell, Smith, Magoon and Freeman, LLC, is dedicated to providing the highest standard of professional services, while striving to maintain the personal attention you expect. We are committed to staying on the leading edge of your industry, continually expanding our services and expertise to meet your needs.

Our firm offers a wide range of services to our individual and business clients. Below we have listed the services that we offer to our clients along with a brief description.

As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.

We welcome clients of all sizes and industries. Please contact us for more information or a personal consultation.
(Click Service Title For Details)

  		• Audit
  		• Computerized Accounting Services and Software Consultation
  		• Consulting Services
  		• Income Tax Preparation
  		• Individual and Estate Tax Planning
  		• Litigation/Fraud Audit Support Services
  		• Retirement Plan Design and Administration
  		• Reviews and Compilations
    Audit
    We perform audits of various entities with gross revenues ranging from $500,000 to $30,000,000. Our audit practice includes Federal and State governmental agencies and other industries. We have consistently won the prestigious Certificate of Achievement for Financial Reporting for our municipal clients.

    Audit client benefits include:

    • Strengthened banking relationships
    • Stronger internal accounting and administrative controls
    • Increased comfort level for outside investors
    • Credible financial information for future transactions or sale of the business.

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    Computerized Accounting Services and Software Consultation
    Our firm offers computerized accounting and record keeping services. Client accounting can be prepared monthly, quarterly, semi-annually or annually. Our services include:

    • Financial statements – including percentage comparison, period and year-to-date amounts, budget to actual and profits/cost center analysis
    • Financial records – including general ledger, cash receipts and disbursements journals, payroll journals and sales journals
    • Monthly, quarterly, and annual Federal and state payroll tax returns
    • Monthly bank reconciliation, computerized accounting records and financial statements
    • Consultation and assistance with small business software
    • Review and consultation of industry-specific accounting software.

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    Consulting Services
    Our consulting services include a wide variety of practice areas designed to assist you in improving the quality of your operations. Our expertise includes:

    • Business succession planning
    • Business valuations
    • Family Limited Partnership (FLP)
    • Retirement planning
    • Computer systems design, acquisition and implementation
    • Economy and efficiency audits designed to improve paper flow and forms design
    • Budgeting, cash flow and financial projections
    • Internal control evaluations - resulting in strengthened controls to increase efficiency and safeguard company assets
    • Legal support for stockholder disputes, buy-sell agreements and divorce settlements
    • Comprehensive services for not-for-profit organizations and homeowners associations.
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    Income Tax Preparation
    The constant change in tax laws and regulations make tax planning essential. Our tax professionals monitor the latest tax developments to address the issues affecting our clients.

    Our tax professionals provide preparation and consulting services for individuals, corporations, partnerships, estates and trusts.

    We will:

    • Ensure you get the greatest tax benefit possible
    • Represent you before the IRS
    • Provide assistance with other tax issues (including foreign taxes), filings for multi-state operations (and determination of Nexus), sales and use taxes and various other tax assistance.
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    Individual and Estate Tax Planning
    Our firm performs tax planning for individuals, businesses and estates. Our experienced tax professionals will ensure that you receive the greatest tax benefit possible.

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    Litigation/Fraud Audit Support Services
    Our litigation support services include services to assist attorneys, insurance companies, individuals, corporations and government entities in the prevention and detection of white collar crime. Consulting services include data gathering, analysis and reporting in the following areas:
    • Employee fraud, involving but not limited to embezzlements of cash, lapping of accounts receivable, false vendor schemes, false expense reports, payroll fraud, and vendor kickbacks
    • Lost profit analysis for closely held businesses
    • Damage studies for individuals due to personal injury, wrongful death or wrongful termination
    • Divorce and bankruptcy services requiring forensic accounting to uncover undisclosed or hidden assets
    • Expert witness services
    • Professional liability claims against accountants and auditors
    • Insurance claim calculations
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    Retirement Plan Design and Administration
    • Plan design and consultation
    • Plan implementation and document preparation
    • Plan administration
    • Plan compliance
    • Plan reporting
    • Representation and/or assistance with IRS and DOL audits
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    Reviews and Compilations
    We provide reviews and compilations of financial statements in situations where a certified audit is not required. In addition, we can provide comprehensive management advisory summaries to strengthen internal accounting and administrative controls. The results can reduce costs, increase revenues and reduce income taxes.

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