Closely Held & Family Owned Businesses

Closely-held and family-owned businesses are unique in their need to find the delicate balance between family, the owners and the business concerns.  Operational issues, compensation, tax planning, multiple generations, ownership transition and the related tax issues must be handled with this balance in mind.

We not only run our own closely-held business, we have helped hundreds of such businesses with these and other issues over the years.  We can assist you with strategy and executing sound financial decisions to help achieve the business and family objectives and keep you out in front of the other guys.  We are your trusted, go-to team for smart advice and fresh perspective.  Our track record as problem solvers, communicators and idea people has helped take many family and closely-held businesses like yours to the next level.

Services include:

Business Assurance

  • Financial statement audits, reviews and compilations
  • Financial reporting and accounting for closely held businesses

Business Advisory Services

  • Business valuation
  • Debt covenant analysis
  • Loan proposal solicitations and reviews
  • Stock transfer and change of ownership
  • Transaction negotiations
  • Turnaround assistance


  • General ledger bookkeeping and analysis
  • Preparation and analysis of financial statements
  • Bookkeeping and accounting
  • Software evaluation and implementation

Tax Services

  • Federal tax – business and individual
  • State and local tax
  • Multi-state income tax
  • Tax planning and preparation for closely held businesses
  • Sales and use tax compliance and consulting
  • Credit and incentive eligibility reviews
  • Nexus reviews

Business Planning

  • Strategic business planning
  • Forecasts and projections
  • Management transition and succession planning
  • Compensation and incentive planning
  • Financial planning

For more information on our Closely Held & Family Owned Business Services, please contact Peggy Murphy, CPA, Shareholder, Tom Prince, CPA, MBA, Shareholder or Rick Chrisman, CPA, MST, Shareholder at 616-949-3200.