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Entrepreneurs are a unique breed. Whether it’s professional services, retail, manufacturing or distribution, many closely held businesses are run by families, business partners or key employees. Their work ethic and drive is what fuels a venture's success. Yet, there are some inherent risks for closely held businesses. Divorce or premature death or disability can financially devastate a business if proper provisions are not considered. As the Baby Boomers move towards retirement, we’re seeing a generational shift and a growing need to consider estate and succession planning. Finally, political uncertainty and market volatility can impact consumer demand, so it’s crucial to balance growth goals with prudent planning. This is where the Whittlesey team can help.

At our core, we are highly skilled, Certified Public Accountants who provide compliance services to our closely held clients including proactive tax planning and assurance services. Yet, over the past five decades, we’ve found our clients rely on our third-party perspective and advice as much as these compliance services. Since we understand your financials, we can more accurately gauge tax and gifting implications. We help clients put aside their personal emotions and focus on meaningful outcomes. This is why many of our clients consider us an extension of their leadership team, providing account, tax, and advisory services they can rely on. We approach each engagement with the business’s best interests in mind.

How We Can Help

Assurance
We ensure your financial statements display accurate and meaningful results.

Advisory
We craft strategies such as operational reviews and business plans. We work in partnership with your attorney and financial advisor to design succession, retirement, and/or estate plans both for business owners and key employees.

Tax
In addition to preparation of federal, state, and local taxes, we meet with our clients often to proactively plan and integrate advantageous tax strategies.

Technology
Our technology team provides IT general controls and IT risk assessments. IT general control reviews focus on regulatory guidance and industry-leading practices. Controls include but are not limited to administration of user access, change controls over business systems, and backups and recovery to assure reliability, integrity, and availability of data. IT risk assessments focus on threats and vulnerabilities to customer information and compliance with regulatory obligations.

I consult with my Whittlesey partner whenever I am contemplating a strategic change. His advice goes well beyond just the financial or tax consequences. I feel he really looks out for my best interest.

- Elisabeth Kandrysawtz, President The Motorlease Corporation

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Presented in partnership with The Connecticut Society of CPAs.

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