McSwain & Company, PS


McSwain & Company, PS

At McSwain & Company, PS, the careful management of your finances is our top priority. We pride ourselves on giving you personalized and thorough service that meets your business or individual needs.

We provide a full range of tax and accounting services for our clients and offer consulting services for special needs.


McSwain and Company, P.S. helps clients bridge today and tomorrow by developing short- and long-term tax plans for achieving financial goals.

Entity choice and Capitalization: We work closely with our clients and their legal counsel to determine the best form and capitalization structure for operating a business.

Operations: We critically analyze who should own business assets and determine overall choices that would provide accounting to improve cash flow.

Compensation: We work with our clients to explore what level and structure of compensation is appropriate for themselves and their employees. Taking into account ever-changing tax legislation we continually work with clients in the selection, updating and reporting of retirement plans, as well as in the selection of current and post-retirement fringe benefits.

Family Tax Considerations: Often opportunities arise to “share the wealth” in a family business. When this happens, we explore and assist in implementing plans to shift income to family members in possibly lower tax brackets. We also develop plans to provide for the continuity of a business upon the death or disability of an owner.

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At McSwain and Company, P.S. we pride ourselves on the timely and accurate preparation of tax returns for our clients. To this end, we make sure our professional staff is well informed of opportunities that can reduce your tax liability. That means understanding the subtleties of the current tax law, as well as keeping up to date with the latest changes. We are committed to fast, professional service even in the face to the tremendous growth in complexity of the tax system in recent years.

Our professionals are highly experienced in the preparation of trust, estate and gift tax returns, as well as the more familiar individual, partnership and corporate income tax returns.

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Our business planning services are designed to (1) help you start a new business and (2) keep an established business growing.

For starting a new business, we can assist you with:

  • Choosing the best form of business entity;
  • Preparation of business applications and registrations;
  • Finding the necessary financing is a primary concern for most small businesses, writing and using a business plan – an important step which most small businesses never perform.

For helping your established business grow, we can assist you with:

  • The business planning process.
  • Writing business plans
  • Cash management techniques
  • Evaluating accounts receivable and accounts payable.
  • Inventory management.
  • Pricing strategies and how pricing decisions affect profits.
  • Projections and forecasts.
  • Employee management services.
  • Insurance planning.
  • Operational audits.
  • Succession planning.

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Business Valuations

As a small business owner or professional you will run into situations where you need to professionally "value" your business. Business valuations are often done as part of any divorce or estate planning or asset/financial related process you are going through.

Insurance salesmen will often request a business valuation to determine the size of certain types of insurance policies.  Business valuations are often conducted when you are anticipating a financial event in your business such as adding a partner or equity owner; the creation of a ESOP (Employee Stock Ownership Program); or prior to distributions to one or more investors.

Whatever the reason McSwain and Company, PS has developed a cost effective method of preparing business valuation work through a nationwide network of valuation experts, including CPAs, ASAs, CVAs, business brokers, and consultants that small business owners can utilize to cost efficiently determine the value of their business.

We and our affiliates have participated in hundreds of valuations of business interests in over 100 industries. We have valued all forms of business ownership:

  • Tangible and Intangible Assets
  • Common Stock
  • Preferred Notes
  • Promissory Notes
  • Limited Partnership Interests
  • General Partnership Interests
  • Minority and Controlling Interests
  • Stock Options and Warrants

For all kinds of purposes:

  • Divorces
  • Gifts
  • Estates
  • Purchase or Sale of Interests
  • Buy/Sell Agreements
  • Subchapter S Conversions
  • Bankruptcy
  • ESOPs
  • SFAS 141, 142
  • IRS 409a

We think that by now, we must have seen everything at least once. Our team approach to preparing a business valuation allows us to charge you rates which are fair and reasonable. Below is a table outlining the different levels of valuations we typically perform:

Typical Pages 30-50 40-70 60-90 80-120
Transaction data sources Single Multiple Multiple Multiple
Company Description Brief - several paragraphs Brief - several paragraphs Standard approx 2 pages Expanded usually 4-8 pages
Supplementary text (approach, economic outlook, 50-60) None None Standard Standard
Risk analysis vs. industry Summary Standard Standard Standard
Financial projections None Summary Summary Detailed Projections - I/S, B/S, C/F, Ratios
Industry analysis None None Brief Expanded
Methods Up to 8, excludes DFE, DCF, Div Cap All appropriate All appropriate All appropriate
Conclusion / Opinion vs. Indications / Estimate Indication Indication Opinion Opinion

If you don't know the difference between the different types of business valuations like a Standard or Heavy, don't worry. Just give me a call I can explain in 5-10 minutes about the differences and if you give me some background about you and your business, I can suggest what type or level of valuation you may want to use.

To Get Started:

To start the business valuation process, send me an email at or call me, Chuck McSwain, CPA, CVA at 800-282-1301 extension 218.

I'll need to ask you some preliminary questions to determine if and what type of valuation you may want to use. The general questions will be:

  1. What is the INDUSTRY your company is in?
  2. I'll ask you WHY you think a valuation needed?

I'll need to know what is the SIZE of your company (size in revenue dollars)

The Valuation Process:

The entire business process consists of only a few steps so you do not need to invest an inordinate amount of time in it and therefore continue to run your business. We'll also work directly with your accountant, CPA or attorney when needed. The steps are:

  1. You contact us for a brief conversation / question-and-answer session that lets us know your industry, why your valuation is needed, and the size of your company.
  2. We will send an engagement letter to you that you will sign and send back to us with your full payment amount of the valuation.
  3. You send/mail/fax/email us your last 5 years of corporate tax returns or financial statements for us to begin the work on your valuation.
  4. We are usually processing several business valuations at any one time and our average turnaround time is normally 3-4 weeks.
  5. We will complete the valuation and immediately email you a PDF copy while putting your official hard copy in the mail to you.

You'll receive your business valuation and we will schedule a phone call to review the documents and answer any questions you have about the valuation.

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Compilation and review services apply specifically to the unaudited financial statements of companies whose stock is not publicly traded. These services are less comprehensive and less costly than audits, which are normally performed for the assurance of third parties. Compiled and reviewed financial statements are an indispensable tool for privately-held companies in monitoring results of operations and providing management with information for budgeting, tax planning and its business valuations. McSwain and Company, P.S., prides itself on the quality and timeliness of its compilation and review services for our clients, whether on a monthly, quarterly or annual basis.

Payroll and Business Tax Assistance: For businesses whose accounting personnel do not have the time to keep current with the complex and ever-changing federal, state and local payroll and tax regulations McSwain and Company, P.S., offers support in the preparation of these returns and in the research of tax questions arising in the course of business operations.

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McSwain and Company P.S. has established a team of professionals to serve governmental and non-profit organizations.

Audit Serves include:

  • Financial statement audits of both governmental and nonprofit entities.

Accounting, Tax & Management Services include:

  • Bookkeeping and financial statement preparation
  • Designing and implementing management systems to meet federal, state and organizational needs.
  • Internal control system design.
  • Net asset and account structure design.
  • Consulting services regarding compliance with laws and regulations.
  • Cash management and budget management consulting.

Staff Training & Assistance includes:

  • Individual client staff training.
  • Group training and seminars.

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McSwain and Company, P.S. provides audit services to an array of privately-held commercial enterprises. These services offer our clients the highest degree of assurance that a CPA firm can provide regarding the financial statements. Our audit team is comprised of professionals who have had exposure to a wide variety of businesses, and we can offer audit services at a competitive price to any size organization.

The audit team services include:

  • A competitive price, established in an engagement letter prior to the start of audit work.
  • Advance planning with key personnel to determine the best field work timing possible, in order to meet deadlines and avoid unnecessary pressure on the client’s accounting staff.
  • Confirmation of certain account balances.
  • Documentation of internal controls.
  • Analytical review of revenues and expenses to test for trends
  • Issuance of an auditor’s report which contains and opinion regarding the financial statements. 
  • Optional issuance of management letter, in order to provide innovative ideas on how to improve efficiency and reduce operation costs through better internal controls.

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McSwain and Company, P.S. provides a wide array of litigation support services. We have testified as experts in matters involving business valuations as well as matters relating to the tax structuring of marital dissolutions, business sales and disputes.

We have assisted in facilitating settlements between parties before litigation was instituted. This has been a particularly rewarding part of our practice, since it saves substantial legal costs while lessening the chance of hard feelings between disputing parties. We have provided business valuation services for various types of businesses, including professional practices, manufacturing, wholesale, retail and other service industries.
As part of our business valuation services, we review and analyze a company’s current financial statements, interview company personnel to determine current operations, past performance and future plans, and study the economic environment in which the company is currently operation. We then develop a report establishing our valuation and explaining our supporting documentation.

In addition to business valuations, we perform valuations of pension, profit sharing and other retirement plans.

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McSwain and Company, P.S. provides all aspects of retirement plan administration services, including:

  • Assistance with selecting the type of plan which best fits the needs of employer and employees.
  • Design and implementation of defined benefit, profit sharing and 401(k) plans.
  • Obtaining plan approval from the IRS.
  • Annual accounting for trust assets.
  • Calculation of annual contributions.
  • Performance of annual reports to IRS and employees.
  • Calculations of distribution amounts for retired/terminated employees and preparation of necessary administrative forms regarding distribution.

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McSwain and Company, P.S. offers services and products at competitive prices that will keep your computer systems running smoothly.

Services: We can provide system design and installation, as well as a host of post-installation services to help you maximize your return on investment. Our design services include system analysis and configuration, on-site consultation, and software and hardware selection. Our post-installation offerings include application and systems training and on-site support.

Products: We offer complete support of top-rated microcomputer software, specializing in network accounting systems. Products supported include: Excel, Word, QuickBooks and Microsoft Office.

Prices: Because of our close relationship with local vendors, our clients enjoy special product pricing and outstanding hardware service. Since we do not sell hardware products ourselves, we are completely unbiased in suggesting the best hardware for your situation.

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McSwain and Company P.S. is able to assist you in resolving your tax dilemmas with the Internal Revenue Service. We will listen to your IRS problems, suggest solutions and provide services to resolve issues. We deal directly with the IRS so you don’t have to.

We can assist you with the following options that are available to taxpayers to resolve the collection problem:

  • Entering into an installment agreement
  • Submission of an offer-in-compromise
  • Convincing the IRS to write the account off as temporarily uncollectible
  • Filing bankruptcy
  • Waiting for the statue of limitations on collection to expire

We can also assist you with the following IRS Problems:

  • Preparation of unfilled tax returns
  • Assist you with releasing liens and levies
  • Represent you in income tax audits
  • Assist you with the abatement of IRS penalties
  • Assist you with payroll tax problems

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