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Tax Tip Tuesday

Every Tuesday, Lou Hutt hosts Tax Tips& More on WOL’s “The Power” with Joe Madison. Listen to Lou on radio stations 169XM and 1450 AM Tuesday mornings from 8:00a.m. to 9:00a.m. Listen online at www.wolam.com.

About Us: FAQs

1.	How is Bennett, Hutt & Co. unique?
2.	What advantage does the firm offer to clients by maintaining offices in Albuquerque, NM and Columbia, MD?
3.	If a business is interested in out sourcing its internal financial accounting functions does Bennett, Hutt & Co. provide such a service?
4.	Does Bennett, Hutt & Co. prepare income tax returns for individuals as well as businesses?
5.	Can Bennett, Hutt & Co. provide assistance to non-profit tax-exempt organizations?
6.	How are members of the professional staff selected for assignment to the firm’s professional and tax engagements?
7.	Is it cost effective for a small company to utilize the customized training services of Bennett, Hutt & Co.?
8.	Can Bennett, Hutt & Co. prepare individual income tax returns for residents of any state?
1.	How is Bennett, Hutt & Co. unique? Bennett, Hutt & Co.’s focus is on developing longer-term relationships with our clients by providing a side range of accounting, management advisory and training services tailored to the specific circumstances and needs of each of our clients. We value the differences among our clients’ needs, as well as the evolving nature of their challenges over time.
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2.	What advantage does the firm offer to clients by maintaining offices in Albuquerque, NM and Columbia, MD? The East Coast and Southwest offices enable Bennett, Hutt & Co. to provide highly responsive and personal service to local, regional as well as national clientele.
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3.	If a business is interested in out sourcing its internal financial accounting functions does Bennett, Hutt & Co. provide such a service? The majority of Bennett, Hutt & Co.’s professional accounting relationships involve controllership services where the firm essentially acts as the clients’ chief financial officer. These relationships are comprehensive to varying degrees. Some engagements encompass general ledger maintenance; updating accounts payable reports; preparation of monthly bank reconciliation; assistance in development of accounting policies and procedures; monthly quarterly and annual financial statements; preparation of budget projections; and preparation of business tax returns.
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4.	Does Bennett, Hutt & Co. prepare income tax returns for individuals as well as businesses? Bennett, Hutt & Co. has an extensive individual income tax practice which is tailored for homeowners, investors, operators of residential rental property, corporate employee relocations, home based businesses and retirees.
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5.	Can Bennett, Hutt & Co. provide assistance to non-profit tax-exempt organizations? Our firm can assist in the preparation of 501(c)(3) applications for tax exemption as well as develop comprehensive accounting systems to assure regulatory and financial compliance.
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6.	How are members of the professional staff selected for assignment to the firm’s professional and tax engagements? Firm personnel are assigned to client engagements according to the complexity and skill level requirements of the work. While mid to junior level associates handle most accounting work, senior level staff take responsibility for business planning, tax guidance, business representation, financial statement analysis and budgeting.
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7.	Is it cost effective for a small company to utilize the customized training services of Bennett, Hutt & Co.? Most of our seminars are designed for a small number of participants, usually no more than twenty-five participants. This provides a personal and interactive environment for maximum discussion. On the other hand, we have the ability to develop on-site programs for as few as five or as many as seventy-five. The key to our success is aligning the training curriculum to fit specific learning goals and objectives. We use experienced and knowledgeable instructors. Our training is priced to provide a significant savings over the cost of sending staff to individually priced courses. For more information, see "Mega-Success Training."
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8.	Can Bennett, Hutt & Co. prepare individual income tax returns for residents of any state? Yes. Bennett, Hutt & Co. will prepare tax returns on a routine basis for any state.
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