Home > TAG Home

Select Value Added Programs

In addition to our core services, TAG offers a diverse menu of value added services. These services deliver the flexibility, cost efficiencies and specialization that assure our clients have the resources required to meet each of their unique needs, with the convenience of a single source provider. These programs are designed to enhance our clients' activities and can propel individuals and organizations toward achieving their goals.

Executive Tax Assistance Program (ETAP)

Duane Morris' Tax Accounting Group administers a flexible tax assistance program designed for corporate executives, providing individual and business tax preparation, planning and consulting services for group-rate discounted fees. Participants in this program benefit from quality, highly personalized, uninterrupted, comprehensive and confidential tax preparation, planning and consulting services. At the same time, executives have access to other valuable resources and services in the legal and non-legal fields.

The principal objectives of ETAP are to streamline interaction between the busy executive and needed advisors and to assist the executive in achieving tax, financial and related objectives. This is accomplished through a coordinated approach delivered by a primary core of specialists intimately familiar with, and taking a personal interest in, the executive's tax and related financial objectives. The results are more effective solutions and greater peace of mind for the busy executive without the conflict of interest risks presented by the dual activities of the employer company's auditors performing tax services for company personnel.

Under the program, participants may access the following benefits:

• Preparation of federal, state and local individual income tax returns
• Preparation of federal, state and local business tax returns
• Projections for use in determining estimated tax liabilities
• Preparation of a two-year comparison highlighting changes in income and deductions
• Preparation of financial computations, including amortization schedules, break-even analyses, cash-flow analyses, purchase/lease analyses and the like
• Responses to federal, state and local income tax inquiries
• Represent clients in civil tax matters involving federal, state and city taxing authorities, at all levels, including audits, appeals and collections
• Year-round tax planning and consulting services and access to a full complement of services, including but not limited to, financial planning, investment management and legal services
• Answers to questions concerning tax and financial matters, proposed legislation and other matters
• A subscription to the firm's Tax Accounting Review, a publication featuring tax and financial updates and money-saving techniques and strategies

Additionally, certain SEC and PCAOB regulations now prohibit select executives of publicly held companies from receiving personal tax planning and compliance services from the corporate auditor of record. ETAP provides an effective solution to these executives and their corporate entities.

Back to top

Family Office Services Program

The Tax Accounting Group of Duane Morris LLP's Family Offices Services Program provides support to high net worth individuals by providing a comprehensive and flexible suite of accounting, finance, tax and customized administrative services.

With our role defined and services customized to respond directly to your family office mission, stage of development and future objectives, our services typically include the following:

• Manage the day-to-day accounting for checkbook(s) activity, including: verification of accuracy of bills to be paid, disbursing checks for bills, recording deposits into the checkbook(s) and authorizing bank funds transfers.
• Reconcile checkbook(s) on a monthly basis. Research and resolve variances.
• Prepare monthly and year-to-date report of income and expenses as well as account for capital expenditures and preparation of unaudited financial statements.
• Review and consolidate monthly brokerage statements as well as prepare a performance analysis of the investments.
• Maintain up-to-date record of stock holdings in companies for which client is a director, as well as tracking changes in holdings.
• Monitor and manage line of credit issues to include borrowings, payoff and verification of interest calculations for accuracy.
• Monitor charitable commitments made and satisfied.
• Identification and communication of material tax planning considerations.
• Identification and communication of transactions or changes and potential tax exposure areas that arise during the preparation of accounting or tax returns.
• Conduct annual review of all deferred compensation accounts.
• Prepare private foundation, trusts and individual income tax returns and calculate required estimated tax installments.
• Coordinate and consult with banking, legal and investment advisors as appropriately needed.
• Meet with client on a monthly basis to discuss applicable issues and review reports.

Back to top

Personal Financial Services Program

The Tax Accounting Group of Duane Morris LLP's Personal Financial Services Program is designed to assist seniors and others in need of organizational and personal financial management activities. The program responds proactively to the unique needs of an aging population. Services to this population segment are tailored for each client and often include tax preparation and planning, management and reconciliation of accounts, bill paying and regular reporting to the client and/or authorized family members and advisors.

Key benefits of this program include:

• Eliminating the tedious and time-consuming process of monthly bill paying, mail sorting, bank and financial account reconciling and filing
• Dramatically improving the efficiency of collecting and organizing tax information
• Conveniently coordinating activity between bankers, brokers, investment advisors and lawyers
• Timely reviewing, completing and submitting medical and related forms, including monitoring of reimbursements
• Eliminating unwelcome financial intrusion, frustration, confusion, anxiety and surprises

Services are customized and often include:

• Organizing files and tax records
• Reviewing and sorting incoming mail
• Monthly bill paying
• Reconciling bank and financial statements
• Recording and/or tracking medical expenses
• Submitting medical claim forms and monitoring medical reimbursements
• Providing income tax planning and return preparation
• Providing gift tax return preparation
• Preparing employment tax returns for caregivers and other household help
• Reviewing and summarizing reports from fiduciaries

Back to top

CFO "On the Grow" Program

The Tax Accounting Group of Duane Morris LLP administers a flexible CFO Services Program designed for both emerging and maturing businesses. Participants in this program benefit from high-quality CFO, controllership and accounting services that are personalized, customized, uninterrupted and comprehensive. At the same time, businesses and executives have access to other valuable resources and services in the legal and non-legal fields.

The principal objectives of our CFO Services Program are to provide the business with higher-level financial talent and deeper intellectual capital on a cost-effective basis while avoiding distractions associated with day-to-day accounting responsibilities and demands. This is accomplished through a coordinated approach delivered by a primary core of specialists intimately familiar with, and taking a personal interest in, the accounting and related financial objectives of the business. Our services range from supporting the existing bookkeeper to serving as the financial professional managing the accounting functions and assisting the business in shepherding its financial health. The results are more effective solutions in terms of shaping and analyzing information to assist in strategic and operational decision making. Our CFO/controllership services include a wide range of activities such as:

• Management of accounts receivable and accounts payable
• Analysis of data flow and functions and establishing accounting procedures and systems
• Preparation and monitoring of budgeting/forecasting
• Business management solutions
• Business process reviews
• Management of cash and debt
• Coordination of relationships with customers, vendors and other service providers
• Financial reporting/analysis/modeling
• Budgets/measurement programs/expense reduction programs
• General ledger maintenance and preparation/review of monthly reports
• Analysis of banking relationships
• Preparation of business tax reporting forms/payroll and corporate tax returns
• Oversight of accounting functions, controls and personnel
• Product line profitability studies/profit improvement
• Strategic Planning
• Alignment of core competencies with the company creating operational efficiencies

Additionally, our CFO Services Program can provide meaningful value, on a temporary or interim basis, to ease a transition or alleviate workloads for a variety of circumstances, including:

• Resignation of controller or other key accounting personnel
• Hiring key personnel and assisting in transition
• Family and medical leaves of absences or vacations by key accounting personnel
• Tax filing deadlines
• Installation or conversion of accounting software

By providing sound controllership services, we enable our clients to concentrate on the other areas that make their business and financial dealings successful.

Back to top

Royalty Audit/Compliance Services Program (RACS)

The Tax Accounting Group's Royalty Audit/Compliance Services Program (RACS) program is designed to assist a licensor in determining the amount of any unpaid royalty and licensing fees, reclaiming those fees and preventing future losses. In the event that the resolution of your intellectual property matter requires legal intervention or litigation, we can seamlessly become part of the intellectual property protection team, protecting rights and pursuing enforced collection.

By understanding and analyzing your intellectual property rights as well as the obligations of the licensing agreement, a customized methodology is developed to uncover deviations from the agreement in question, which may result in additional compensation to the licensor. Whether it's a patent, copyright or trademark, our RACS program supports a wide variety of industries and specialties. Our practitioners, for example:

• Review license agreement(s)
• Examine the financial records of the licensee
• Evaluate internal controls surrounding the calculation of royalty payments
• Calculate underpaid and unpaid royalty revenue and additions, including interest as applicable, under one or more approaches
• Assist in recovery, including settlement modeling
• Assist in fee reclamation
• Consult with respect to future loss prevention
• Integrate seamlessly with your intellectual property protection team

Back to top

Litigation Consulting Services Program

The Tax Accounting Group of Duane Morris LLP provides a wide range of litigation consulting services to meet the distinct and changing needs of law firms and corporate law departments. The principal objectives of our program are to reduce the overall costs of legal representation and improve the overall engagement experience and performance. Whether engaged as consultants or as testifying expert witnesses, we offer a comprehensive list of services to lawyers representing clients in regulatory and transactional matters and throughout various stages of litigation.

We are uniquely qualified to provide litigation consulting services of the highest quality. We draw upon years of experience and combine the efficient interaction between and the integrated, multidisciplinary approach of our certified public accountants, certified fraud examiners, financial consultants, analysts and network of economists and strategic alliances.

Our practitioners have extensive experience working with and for lawyers in a wide range of civil and criminal matters, including:

• Taxation
• Bankruptcy
• Forensic and Investigative Accounting
• Fraud and Embezzlement Detection
• Marital and Shareholder Disputes
• Business Valuation
• Antitrust/Business Combinations
• Employment Discrimination
• Piercing Corporate Veil/Alter Ego
• Breach of Contract

Back to top

For More Information

For additional information, please contact Michael A. Gillen, Director of the Tax Accounting Group, or the Tax Accounting Group practitioner with whom you are regularly in contact.