Control and guidance systems for professional service firms

Successful professional enterprises keep a firm grip on the overhead and an eye on net operating income. They build and maintain robust internal accounting procedures and accurate financial reports, for tax planning, equity valuations, mergers, dissolutions or other transactions.

Their objectives vary. Startups need to build relationships and market presence. Established firms expect to handle major engagements. The bottom line remains the same. Partners want growth to maximize fee income and profit sharing.

February 2022 Sales and Use Tax Technical Update

Impacting Professional Services in this state: Illinois.

Experience with various professions

The DHG Professional Services Group can monitor your internal accounting and financial performance as you take on larger clients, invest in talent and relationships, and expand your service footprint.

We provide tax, accounting and advisory services for:

  • Architects and engineers
  • Attorneys
  • Marketing firms
  • Management firms

KNOWLEDGE SHARE

Publication
Top 10 Valuation Mistakes to Avoid - Especially in a Recession
Top 10 Valuation Mistakes to Avoid - Especially in a Recession

Estimating the value of a company is a challenge, and this is especially true in a period of declining and uncertain economic conditions. In such times, it is more important than ever to consider how the valuation is prepared to ensure the process provides a reliable result. Below are the top 10 ...

Publication
Scaling Cybersecurity for Your Business
Scaling Cybersecurity for Your Business

Moving forward in 2021 and beyond, organizations should continually balance a remote workforce and safeguard information, as many will proceed with policies that allow employees to divide their time working in the office and remotely. Organizations should also continue to focus on securing their ...

Publication
Adopting Data Analytics in Everyday Business Practices
Adopting Data Analytics in Everyday Business Practices

As many companies look forward to business recovery and operational improvement in 2021, the use of big data and data analytics is becoming more essential to overall digital transformation and business optimization. As data becomes more pervasive, especially given the shift to remote work environ...

SERVICES

DHG is armed with insurance specific professionals that touch a wide range of service areas and have the technical skill and experience to meet your needs. Our goal is to be a one-stop shop to drive efficiency and stability within your organization.

Tax and Accounting Services

Your clients in industry and manufacturing execute continuous improvement strategies, which include eliminating waste and cost containment. They tend to view supplier and service provider estimates and invoices as low-hanging fruit.

This makes clear, accurate internal accounting essential, so timesheets, expenses, financial reports support your client invoices. We can supervise bookkeeping and handle corporate and partner tax planning, with services that include:

  • Entity selection
  • Accounting systems
  • Internal accounting procedures
  • Accounts receivable and payable management
  • Payroll
  • Financial statement preparation
  • Tax planning
  • Forecasting and budgets
  • Cash flow planning

Audit and Assurance

You need stringent internal accounting procedures and financial reports to support full and accurate client billing. DHG audit professionals can evaluate billing against various standards and verify that disbursements and expenses are properly documented.

Growth, particularly rapid growth, demands effective oversight. We help mitigate risk (including fraud), ensure compliance and measure efficiency for increased profitability. DHG assurance services include:

  • Client billing audits
  • Financial statements, audits and reviews
  • Revenue projections and budget planning
  • Employee benefit plan audits
  • Advisory services
  • Fraud

Strategic Planning and Management

As your firm grows, it may consider mergers or acquisitions, whether joining forces with strategic competitors or moving into new markets. Effective negotiations demand accurate valuations, to guide buy-outs and compensation of key principals.

We can help you plan and manage growth with:

  • Mergers & acquisitions analysis
  • Due diligence
  • Firm valuations
  • Capitalization structures
  • Equity and compensation issues
  • Operational reviews
  • IT consulting
  • Benchmarking
    • Billing rates
    • Billable hours
    • Benefits
    • Net income
  • Bankruptcy

Succession Planning and Successful Exits

Talent will be the most significant line item in your operating budget and a key investment in your retirement. We help you make sure your talent development and training produce measurable returns, to sustain growth and create a new generation of ownership.

Along the way, we provide:

  • Employee stock ownership programs
  • Key-man life insurance assessments
  • Buy/sell agreements
  • Partnership disputes and dissenting shareholder actions
  • Fairness opinions and valuations for mergers, acquisitions and divestitures
  • Partner withdrawal and retirement

We offer the following certifications to demonstrate our sound judgment and commitment to long-term relationships:

  • Certified Public Accountants
  • Certified Fraud Examiners
  • Certified Valuation Analysts
  • Chartered Financial Analysts
  • Accredited in Business Valuation
  • Certified Anti-Money Laundering Specialists
  • Certified Insolvency and Restructuring Advisors

You emphasize customized client service, so you expect the same from your service providers. We customize a wide range of resources and advisory services to meet your changing needs, with a partner to manage our relationship with your firm.