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Friday Walker & Associates, PLLC provides a wide range of services to individuals and businesses in a variety of industries. Our firm strives to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:

Audits, Reviews, and Compilations

Friday Walker & Associates PLLC's financial statement services are comprised of all three levels of assurance depending on your company's needs. Our firm goes beyond producing and delivering timely financial statements. The true benefit is derived from fully understanding the client's business, analyzing trends, identifying opportunities and communicating strengths and weaknesses, which allows our clients to fully maximize profits.


Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventories, and selected transactions. In addition to providing financial credibility to shareholders, bonding companies, bankers and others, an audit can be useful in identifying opportunities for not only improving the profitability, but also efficiency, of your business.


Reviews provide limited assurance and involve applying analytical procedures to your financial data and inquiries of your management team in order to ensure that your reports are accurate and complete. The end-result will provide assurance to your creditors and investors that your financial statements can provide them with the information they need to properly evaluate your business and make the best and most informed decisions.


Compilations are based upon information provided by a company's management. They range from balance sheet and income statement only to full footnote disclosure financial statements, as well as management-use only financial statements. Compilations are useful for banking, debt refinancing, decision making and tax planning purposes.

IRS Representation

IRS Audit

Nothing strikes fear in the hearts of people more than receiving an IRS audit letter in the mail. Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating items reported on your tax return.

The IRS leaves no stone unturned in its mission to determine the accuracy of your tax return. They can recalculate your tax return and send you home with a hefty tax bill as your parting gift. IRS Auditors are trained to extract more information from you than you have a legal obligation to provide. The IRS knows that most people fear them and do not understand their rights. As a result, they know they can use this to their advantage.

Most audits are handled right in our office with very little contact between you and the Auditor. We handle it all for you so that you don't need to take time off from your business or job to handle the bureaucracy and paperwork of the IRS.

Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies to obtain the best results for you. If you have been chosen for an audit, the professional representation you will find with Friday, Walker & Associates, PLLC can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.

Payroll Tax Problems

The IRS views failing to pay payroll taxes as the cardinal sin of tax delinquency because a large portion of the payroll taxes are your employee's withholdings. As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time. Payroll taxes withheld from your employees are considered trust funds and in addition to other severe penalties and interest, responsible officers and employees can be assessed a 100% civil penalty for failure to pay these taxes.

If you are behind on paying payroll taxes for your company, beware! The IRS is extremely aggressive in pursuing the collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.

If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical that you hire a professional representative, such as Friday, walker & Associates, PLLC, who knows how the IRS operates.

Business Start-Up and Entity Selection

We will assist you with your business start-up and entity selection. Services that can be provided include the following:

  • Assist you in preparing an initial business plan to clarify your marketing, management, and financial plans.
  • Determine your start-up capital needs.
  • Select a business structure that best fits yours need by evaluating tax advantages, legal exposure and ease of operation.
  • Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years.
  • Assist with accounting software selection.
  • Prepare and file all state and local licenses and permits.
  • Prepare and file the application for your Federal Employer Identification Number.
  • Provide payroll and payroll tax filing assistance when you bring on your first employee.
  • Help you comply with employment tax laws so you don't get hit with fines and penalties.

The type of business entity has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Friday, Walker & Associates, PLLC can advise you on choosing an entity type and later restructuring if beneficial. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.

IRS Offers in Compromise

Did you know that it is possible to settle your debt with the IRS for just pennies on the dollar with their Offer in Compromise program? The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liability they cannot afford to pay.

The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential ..." (Internal Revenue Code section 7122). In IRS News Release IR-2012-53, the IRS announced an expansion of its Fresh Start initiative by providing more flexible terms for Offers in Compromise (0IC).

Your debt may be settled for only 5-15% of what you presently owe. The key is to let a professional firm, such as Friday, Walker & Associates, PLLC help determine the least amount that the IRS will accept.

Cash Flow and Budgeting Analysis

Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Friday Walker & Associates PLLC can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, and balance your budget and/or debts for an optimal cash flow to support your business' success. This budget could be revisited if, and when, there are any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future. By combining expertise and experience with a gained understanding of your business, our firm is capable of producing financial projections that can help you manage your business plan and spending.

Contractor Licensing

Friday, Walker & Associates, PLLC represents numerous contractors and sub-contractors in providing financial statements to meet the requirements of lenders, bonding agents and state contractor boards. This includes initial license applications, renewal licenses and applications for increase in bid levels.

We understand the accounting issues facing contractors from percentage-of-completion accounting to revenue recognition to accounting for loss contracts and completed contracts for tax purposes. Our professionals can help you understand the impact of these various accounting and tax methods on your financial statements and tax returns.

Financial Projections and Forecasts

No one can predict the future perfectly, but we can all benefit from planning for it. Friday, Walker & Associates, PLLC combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come.

QuickBooks Set-up, Implementation and Support

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information if you install, setup and use it properly. We don't just help you use the software, we help you use it more efficiently and effectively.

Friday, Walker & Associates, PLLC offers the following solutions to help meet your QuickBooks needs:

  • Personal Training: We train you personally. Either one-on-one or several individuals within your organization.
  • Installation: We install QuickBooks on your stand alone computer or in a network environment, in either single-user or multi-user mode.
  • Setup: We assist new QuickBooks users with initial setup including: Chart of Accounts, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports, We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
  • Support: Our QuickBooks support service can assist you with any installation, setup or operation assistance you might need. In addition, our support is not limited just to the software part of it, we can also provide accounting and payroll assistance.
  • Review: Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review their transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.

Personal Financial Statements

Personal financial statements reflect a person's financial strength via a presentation of personally held assets, debt obligations and net worth. For many lenders and investors, personal financial statements are as important as the financial statements of a business. Personal financial statements range from very concise to detailed with extensive note disclosures and may be audited, compiled, or reviewed, depending upon the level of assurance desired.

Friday Walker & Associates, PLLC offers expertise in preparing customized personal financial statements or personal financial statements on prescribed forms to meet the needs of each client. Our CPA's know that individuals do not typically maintain formal accounting systems and records like a business, so we're ready to assist clients in preparing the statements from the ground up.

There are many reasons that users rely on personal financial statements prepared by CPA's, some of which include:

  • They focus on current values instead of historical costs (which is the financial data typically held by an individual).
  • Lenders are primarily interested in the current value of collateral that will secure a loan.
  • Planning for estates, gifts, and income taxes is dependent upon these same current, fair market values of assets.

Employee Benefits, Pension, and Profit-Sharing Plans

Choosing and administering benefit plans for your employees is often a complex process. Friday, Walker & Associates, PLLC can help recommend benefit, retirement, and profit-sharing plans with an eye toward rewarding your employees and reaching your company's financial and business goals. We can also help maximize tax advantages in implementing these plans. As your business grows, your business and your employees will be rewarded for the hard work that contributed to the success of your business.

Estate Planning

Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse and children, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order. If you don't plan properly, estate and gift taxes may drastically erode half or more of your estate and your assets may not pass to the heirs to whom you wish them to pass.

We use a unique, comprehensive team approach involving an estate planning attorney and financial planner to assist you in formulating a specific plan to provide that your estate passes to your heirs with minimal tax consequences. It's important to consider investment objectives, projected living expenses, liquidity needs, and many other factors. We take all those things into account in assisting in the implementation of a comprehensive estate plan that may include life insurance or other tax-efficient investment vehicles, trusts, and/or various legal entities to help accomplish your goals.

Bookkeeping and Tax Services for Small Businesses

Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records help ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost-effective business bookkeeping and accounting services, including the following:

  • General ledger & financial statement preparation
  • Bookkeeping (Monthly/Quarterly/Annually)
  • Accounting system setup for new businesses
  • Quickbooks software training and support
  • Bank reconciliations
  • Payroll tax services
  • Quarterly payroll tax return filings
  • Year-end W-2s and W-3
  • Annual 1099 & 1096 reporting
  • Federal and State tax returns
  • Annual tax planning for owner with payroll withholding andlor estimated payments
  • Assistance with personal and business related tax questions throughout the year
  • Assist with any tax notices received from the IRS or state taxing authorities
  • Depreciation and amortization schedules
  • Sales and Use tax returns
  • Gross receipts tax returns
  • Tangible personal property tax returns
  • Corporate and LLC Annual Reports

Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Friday, Walker & Associates, PLLC can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

Retirement Planning

Retirement planning is becoming an increasingly vital aspect of planning for your future. Benefits like social security and pensions aren't certain and typically don't amount to enough income to provide for a comfortable retirement. Planning when to retire, calculating how much you'll need, and determining how to accumulate enough income to live comfortably once you've retired is becoming more difficult as our life expectancy increases.

With a wide-range of retirement plan vehicles available today, from traditional and Roth IRA's for individuals to 401K, defined contribution and defined benefit plans for businesses, Friday, Walker & Associates, PLLC can help you design the optimum plan for your situation to maximize tax-efficient savings and growth.

To get an idea of what type of impact some retirement savings plans can have on you, check out our retirement savings calculators, pension calculators and other useful financial tools on our Financial Tools page.

Litigation Support and Forensic Accounting

Friday Walker & Associates, PLLC's litigation support and forensic accounting services can be employed in a wide range of situations, including embezzlement's, commercial litigation, financial investigations, business and marital dissolution's, and bankruptcies. These services can involve quantification of economic loss or damages, analysis of financial records, and fraud and theft investigation. Financial and personal records are often vast and confusing to sort through. With our professional training in this matter, we can make sense of these records and transactions and get to your bottom line.

Tax Services for Businesses and Individuals

At Friday, Walker & Associates, PLLC, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to achieve your financial goals. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws. We are knowledgeable and up-to-date on the tax regulations and can make sense of your receipts, bills and notices.

We are able to assist you year-round in assessing your current tax situation, projecting your tax liability and developing a plan to help you keep as much of your hard-earned money as possible in your bank account and out of the hands of the government.

We also provide tax representation services for clients who are being audited or assessed by federal, state or local taxing authorities. Tax laws are incredibly dynamic and confusing, and many government entities can be very aggressive and even abusive toward taxpayers. We see many agents propose wrongful assessments against taxpayers. Don't make the mistake of trying to fight the government by yourself. Let one of our experienced tax representation experts handle your situation.

We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. Tax services offered include but are not limited to:

  • Individual tax returns
  • Partnership tax returns (including LLCs and LLPs)
  • Corporate tax returns
  • Trust and Estate tax returns
  • Not-for-profit organization tax return
  • State returns in all 50 States
  • Income tax planning
  • Estate and Gift tax planning
  • Taxing authority representation/Tax audits
  • Tax planning for buying/selling a business
  • Sales & Use tax return preparation
  • Business Personal Property Tax return preparation

Are Your Books A Problem?

If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year, prepare a full Schedule C or business return, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.

If you'd like to receive more information about our Tax Preparation Service, please complete the following form:

Mergers, Acquisitions, and Sales

Business transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Friday Walker & Associates PLLC can provide professional know-how to help you successfully structure and negotiate the deal. We employ careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures and evaluate financial and cash flow impact. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.

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