Business

Business Accounting, Tax, and Strategic Financial Advisory

Annette Hamilton, Forensic Accountant and Enrolled Agent, Founder and Principal, Compass Accounting & Business Solutions

Businesses require more than compliance. They require accurate financial reporting, defensible tax positions, and experienced financial judgment to support sound decisions and long-term stability.

With over three decades of experience in corporate finance, forensic accounting, and tax advisory, our firm provides structured financial oversight and strategic guidance for businesses that value accuracy, integrity, and accountability.

Financial Statement Preparation and Accounting Oversight

Accurate financial statements are essential for informed decision making, tax compliance, and long-term business stability. Particular emphasis is placed on maintaining an accurate and supportable Balance Sheet, as it reflects the true financial position of the business.

We prepare monthly or periodic Balance Sheets and Profit and Loss statements based on information and documentation provided by the client, including bank statements, credit card statements, payroll reports, and other financial records.

Services may include:

• General ledger organization and reconciliation
• Verification of asset and liability balances
• Review of equity accounts and retained earnings
• Monthly or quarterly financial statement preparation
• Review of account classifications and consistency
• Identification of reporting discrepancies
• Financial data organization for tax preparation and advisory planning

Financial statements are prepared based on information provided by the client. No audit, review, or assurance procedures are performed unless separately engaged in writing.

Accounting Cleanup and Financial Reconstruction

When accounting records have not been reconciled, tax filings have been missed, or financial reporting has fallen behind, the Balance Sheet is often inaccurate, with unsupported asset balances, unresolved liabilities, and misstated equity accounts. Structured correction is required before reliable financial statements or tax returns can be prepared.

As a Forensic Accountant and Enrolled Agent, Annette Hamilton approaches cleanup engagements with investigative discipline, focusing on accuracy, documentation integrity, and risk identification, not simply data entry correction.

We provide comprehensive accounting cleanup and financial reconstruction services for businesses that need to restore order, accuracy, and compliance.

Engagements may include:

• Multi-year general ledger reconstruction
• Bank and credit card reconciliation
• Correction of misclassified transactions
• Identification of duplicate or missing entries
• Payroll and sales tax liability review
• Financial statement rebuilding for prior periods
• Preparation of accounting records required for delinquent tax filings

These projects are structured engagements designed to restore financial clarity, reduce compliance exposure, and establish defensible financial records. Scope is defined in writing and tailored to the complexity and number of open years.

Business Tax Preparation and Strategic Planning

Every business entity must file federal and state tax returns. Proper preparation and strategic planning are critical to minimizing exposure and maintaining compliance.

We provide preparation and planning for:

• Form 1065, Partnerships
• Form 1120S, S Corporations
• Form 1120, C Corporations
• Schedule C, Sole Proprietors and Single Member LLCs
• Form 1041, Estates and Trusts
• Multi state tax compliance
• Washington State Department of Revenue filings
• Payroll and excise tax compliance

Our approach emphasizes accurate reporting, strategic tax minimization within the law, entity structure evaluation, audit awareness, and coordination between accounting and tax planning.

Advanced Financial Advisory and Strategic Oversight

For businesses requiring deeper financial insight, we provide expanded advisory services tailored to complexity and risk exposure.

These engagements move beyond compliance and focus on forward-looking financial analysis and decision support.

Services may include:

• Cash flow forecasting and liquidity planning
• Budget development and variance analysis
• Profitability and margin review
• KPI development and performance analysis
• Tax projections and long-range planning
• Internal control review and risk assessment
• Financial analysis related to ownership transitions or partner changes

Engagement scope is defined in writing based on the needs of the business.

Business Valuation and Financial Analysis Support

Certain business events require structured financial analysis and assessment of value. These matters often arise in divorce proceedings, partner buyouts, shareholder disputes, or family-owned business transitions.

We provide selected business valuation and financial analysis services tailored to the purpose of the engagement.

Services may include:

• Historical financial review and normalization
• Cash flow and earnings analysis
• Ratio and trend analysis
• Industry benchmarking
• Financial performance reporting
• Documentation review in support of negotiation or legal proceedings

Engagement scope is defined in writing and structured according to the purpose of the analysis. Where a formal valuation opinion under specific professional standards is required, appropriate engagement parameters or referral options will be discussed.

Business Formation and Structural Planning

Choosing the appropriate entity structure affects taxation, reporting obligations, liability exposure, and long-term flexibility.

We assist with:

• Entity selection analysis
• Federal tax elections
• State registration considerations
• Initial accounting structure design
• Tax compliance setup

Establishing the correct structure at formation reduces risk and supports long term operational stability.