Our Services

Our Services

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. Accountant Olympia WA.

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


Accountant Olympia WA

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.

At McSwain and Company 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.


McSwain and Company 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. Accountant Olympia WA


McSwain and Company 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 unfiled 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


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.


QuickBooks Certified ProAdvisors here to assist you!

Set-up properly and used effectively, QuickBooks can provide invaluable information to assist you in getting your business to grow.  We are here to help you implement and use QuickBooks in the most efficient manner for your business structure.  Let us help you get that started, and then support you while you focus on your business. Accountant Olympia WA

McSwain & Company, PS can offer a variety of assistance:

  • Hands-On Training – One-on-one training to get you and/or your staff familiar and using your QuickBooks.  You pick the location, and we will be there to train you.
  • Installation We can help you choose the correct product and then install QuickBooks on your personal computer or in a network environment.  Ask us about our product discounts!
  • New Users and Setup – Getting your QuickBooks set-up and tailored to your business needs is very important.  We are here to assist new QuickBooks users with getting that structure in place and working for you.
  • Experienced Users – As your business grows, so do your QuickBooks needs.  Use our experience to improve your current set-up so you can focus on managing your business more effectively.  Improper or out-dated set-ups can block your ability to access the information you need for crucial business decisions.
  • Support – In addition to installation and set-up, our team of Certified ProAdvisors and experienced staff can assist you with any questions or operational assistance you might need. We are here to provide support for accounting, payroll, and QuickBooks usage.  We are currently supporting QuickBooks Pro, Enterprises Solutions and QuickBooks Point of Sale.
  • Monthly/Quarterly & Write-Up Services –Do you just need your data reviewed, statements compiled or monthly & quarterly taxes completed?  We can offer professional assistance to review your transactions, accounts and reports.  We will help you locate and perform corrections, adjustments or reclassifications, as well as understand those financial reports.  Timely and accurate financial information is essential to your ability to assess the financial condition of your business.


As a small business owner you have more important things to do than to keep your own general ledger/financial records. We take care of your general ledger/financial records for you, so you can get back to the job of running your business and generating profits.

Each month or quarter we’ll do the following things for you…

  • Reconcile your bank account
  • Generate an income statement
  • Generate a balance sheet
  • Clean up your general ledger

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, budgeting or any of our other services. Accountant Olympia WA

Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to…

  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.

Income Statement
An income statement, otherwise known as a profit and loss statement,  adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to…

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

Balance Sheet
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.

A balance sheet helps you:

  • Quickly review the financial strength and capabilities of your business.
  • Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses.
  • Determine if you need to take immediate steps to bolster cash reserves.

Your balance sheet, income statement and budget are the most basic elements in providing financial controls over your business; in addition these are used to report to potential lenders.

Maintaining a Clean General Ledger
The general ledger is the core of your company’s financial records. These records constitute the central core of your accounting/reporting system. Since every transaction flows through the general ledger; having us review your general ledger system each month is critical for accurate financial reporting.


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, offers support in the preparation of these returns and in the research of tax questions arising in the course of business operations including registration in other states.


McSwain and Company provides audit services to an array of privately-held commercial enterprises and nonprofit organizations. 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 with significant experience serving a wide variety of businesses.  Our utilization of more experienced professionals enables us to perform engagements efficiently and timely, at very competitive rates.

Specific areas of emphasis for the firm’s audit services are:

  • Efficiency in performing engagements, under an engagement letter with established fees and a work completion schedule that will meet the needs of all financial statement users.
  • Advance planning with key personnel to gain a full understanding of the control environment and accounting systems.  The documentation needed for the audit is determined concisely, so that unnecessary burdens on client accounting staff are avoided.
  • On-going communication throughout the year, included in the engagement fee, to anticipate audit effects from changes in clients’ businesses and newly issued accounting principles. Accountant Olympia WA
  • Direct and open communication of audit results with audit committees and Boards of Directors, including presentations to Boards if requested.
  • Use of the most current audit practice technology to promote efficiency and maintain documentation, to avoid clients having to “re-educate” the audit team each year.


Compilation and review services are less comprehensive, and less costly than audits. In a review, a “negative assurance” is provided, while no level of assurance is provided in a compilation. Reviewed financials statements include all content that would be provided in an audited financial statement.  Compiled financials statements can exclude footnotes and the statement of cash flows.  Both levels of service can be performed for financial statements using an accounting framework other than generally accepted accounting principles, including tax or cash basis. Accountant Olympia WA

Though the level of assurance for these services is less than an audit, reviewed or compiled financial statements are often sufficient for third parties utilizing financial statements.  They can be an indispensable tool for privately-held companies or nonprofit organizations.  They can provide management, and other persons performing oversight, with information for monitoring financial results, budgeting and tax planning, business valuations, or other general financial analysis purposes.  McSwain and Company, prides itself on the quality and timeliness of its compilation and review services, whether performed on a monthly, quarterly or annual basis.

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. Accountant Olympia WA

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. Accountant Olympia WA

To Get Started:

To start the business valuation process, send me an email at chuck@mcswaincpa.net or call me, Chuck McSwain, CPA 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.


McSwain and Company 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. Accountant Olympia WA
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.


McSwain and Company 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.