Professional Service Firms

Architects, engineers, physicians, dentists, lawyers — and accountants. We have a lot in common. Each profession requires specific training and licensure by the state of Virginia, practitioners have deep passion for their specialty and we face many of the same business challenges.

Given all that we share, it’s no surprise that Hantzmon Wiebel has long had a specific practice geared to professional service firms. We understand the shared rewards of this type of business model and can offer insights and advice based on our experience with these types of firms over many years. We know what it takes for professional service firms to achieve optimal tax efficiency in all areas of the practice to maximize the economic return to owners. We know what works — and what doesn’t.

It’s our experience that professionals would rather do what they love and focus on their area of expertise — not on the accounting, tax and detailed financial matters that we address. That’s why these firms turn to us for our knowledge. We do what we do best so you can too.

Our Professional Services Include:

Compensation Models
Determining a fair and reasonable compensation system can be a complicated task. Let us help you consider your options.

Retirement Planning
There are many retirement plan options that might make sense for your firm, and each has tax and other short- and long-term financial consequences. We can assist as you decide which works best for your firm.

Buy-Sell Agreements
A must-have for organizations with two or more owners, these documents dictate what will happen if an owner dies, is incapacitated or wants to leave the company.

Admission and Exit of Owners
We can help you determine how to add owners, calculate buy-in and think through other financial matters. Similarly, we can assist with payout provisions as owners depart.

Tax Planning and Consulting
We want to help you keep more of what you’ve worked so hard to earn. Effective planning will help you reach your financial goals in the most tax-advantaged way.

Key Performance Indicator (KPI) Trend Analysis
How is your firm doing? Daily? Weekly? Monthly? Yearly? We can help you identify your key performance indicators and set up a “dashboard” to help you track key metrics.

Benchmarking Studies
How do you stack up against the competition? Are your costs in line? A benchmarking study can provide insight and information to improve your position.

Accounting System Consulting
Let us weigh in on which software and system will work best for your company.

Billing and Accounts Receivable Management
We can offer strategies to help you get bills out more quickly and improve collections.

Accounting Services Support
Our team can help with record keeping, bookkeeping or other areas as needed. Learn more about our Small Business Accounting Services. 

    For more information about these services, please contact:

    Partners:

    Richard M. Busofsky, CPA
    W. Keith Haney, CPA
    James F. Hutcherson, CPA
    Glenn M. Lankford, CPA
    Phillip W. Shiflett, CPA