INDUSTRIES

Food and Beverage Industry Accounting

As members of the larger Sonoma County community, we understand the economic importance of the food and wine business to this region.  We also work with many clients in this industry. We are proud to do our part to ensure the food and beverage businesses continue to achieve financial success in the North Bay.

Our CPAs and the accounting team understand the unique tax and accounting complexities that this industry confronts, including financial impacts such as equipment, labor, and product handling costs.

Our experienced team provides strategic plans and a variety of accounting services. Bear in mind this is just a sampling of the expertise we can provide on behalf of your food, wine, or beverage company:

• Market research, including product price setting
• Operational strategies
• Cost and inventory controls
• Worker’s compensation
• Budgeting and forecasting
• Talent and equipment acquisition
• Manufacturing cost comparison
• Equipment and debt financing
• Depreciation schedules

Accounting for Manufacturing

Our staff provides manufacturing and distribution business clients with ways to improve their business and manufacturing processes, compiling expense reports, and establishing accounting procedures in order to improve the profitability, productivity, and ultimately the bottom line for local manufacturers.

We can help your business with the following manufacturing and distribution-related services:

• Assurance and auditing
• Expense systems and reporting
• Accounting systems
• Forecasting projections
• Compliance services
• Risk management
• Inventory and cost management
• Manufacturing cost comparisons
• Asset management and liquidity

Accounting for Professional Services Firms

Our firm has earned the trust of many professional service businesses and we have worked with these companies at all stages of their business development, from the initial startup of a firm to final business succession plans, as well as every business growth stage in between.

Our team provides accounting and tax services for many different professional services. We specialize in accounting for many who maintain a professional services practice including advertising, architecture, dentistry, engineering, law, medicine, and psychology.

In our more than 30 years in taxation, we can help you no matter what your tax and accounting needs may be. Here are just a few of the ways we can help your firm:

• Accounting systems tailored to professional services
• Strategic planning
• Tax planning and preparation
• Developing your practice
• Internal cost and reporting controls
• Federal, state, and local tax credits and incentives
• Profit enhancement and incentive consulting
• Operational reviews
• Set compensation
• Select the right entity

Real Estate Accounting

The real estate tax experts at Torkelson’s have years of strategic tax planning expertise. We specialize in tax issues related to real estate development and construction as well as investing, brokering, and managing both commercial and residential real estate. Our experience in California’s real estate tax law makes us the ideal firm for your real estate needs.

We can help you solve complex real estate tax issues and we are available for consultation on all of our client’s particular real estate tax issues.

The following is a sample of the real estate tax services we provide:

• Real estate transactions
• Real estate professional rules
• Real estate foreclosure and short sales
• Tax deductions and credits

Nonprofit Accounting

The nonprofit industry has unique and specific tax and accounting needs. Successful nonprofits depend on many components – funding, donations from individuals and businesses, volunteers, and their paid staff – working as one to achieve the organization’s mission.

If you’re a director for a local nonprofit, or part of the management team for a not-for-profit corporation, the team at Torkelson & Associates has the expertise you need to maintain financial viability for your organization and help it to grow and continue to serve the needs of the community it was founded to assist.

We provide accounting and tax advice and services for health & human services organizations, community services, private educational services, religious organizations, and 501(c) (3)’s throughout Northern California. Our firm has extensive experience assisting not-for-profit organizations, including providing the following services:

• Audits
• Management consulting
• Tax Preparation services
• Cash flow management
• Fundraising consultation
• Accounting system implementation
• Compensation consultation
• Meeting Federal reporting guidelines
• Filing for exempt status
• Creating and using budgets

Our understanding of the distinct issues facing nonprofits in today’s economy is invaluable to our clients in the nonprofit sector.