Financial Statements and Business Loans

  1. Business Loans

  2. Debt & Financing Advise

  3. Audits, Reviews & Compilations

  4. Business Plans

  5. Financial Projections & Forecasts

  6. Business Appraisal, Litigation Support & Forensic Accounting

  7. Disability Insurance. *SEE NOTES 1 & 2 BELOW



Business Loans

Securing a Loan For Your Company That You Can Repay With Reasonable Repayment Terms

Securing a loan to start or expand your business is a time-consuming and, in some cases, a frustrating process. Taking the following steps can help expedite the process & ensure your success in obtaining the needed funds.

  • Prepare a realistic fully supported loan request.
  • Learn what the banker is looking for.
  • Seek the advise of a certified public acct. who understands the complete process for loan application approval.
  • Use the services of professional financial planner to guide you on the proper amount & payback terms.

By including a CPA with a financial planner in the relationship between your bank and business, you can greatly ease the frustrations of applying for a loan, borrow the amount you need with the proper terms and increase your chances of success.

Preparation Pays To present yourself and your company as favorably as possible, you should be able to state your reasons for requesting a loan clearly and professionally. Before you approach the bank about a loan, ask yourself:

  • Why do I want a bank loan?
  • How will the loan benefit my business?
  • What type of loan do I need? Short-term? Long-term?
  • How much do I need to borrow?
  • How will the money be used? Be as specific as possible! Provide complete details!
  • Do I have a very clear and realistic plan to generate the additional funds to repay the debt?

Your ability to answer these confidential questions will help you present your Company as a solidly managed one. A CPA can help you prepare the information you will need to provide appropriate answers to the lender's questions.

Our in office computer programs pre-determines your qualifications using banking formulas.





The Banker's Perspective

You may be seeking a loan for a variety of reasons, but keep in mind that the bank is responsible for lending depositors' moneys. In order to determine your ability to repay the loan, the bank will evaluate your character, the collateral you offer, and the capacity of your business to repay the loan. Additionally, the bank will need a complete financial & background analysis of you and your company. Specifically, the lender will need information as follows:

  • Your business plans and objectives
  • Data on your business' ownership, finances, business history, operations and personal.
  • A comparison of your operating & balance sheet ratios to industry averages
  • A marketing plan showing your business' potential growth & specifically in which areas.
  • A cash flow analysis of your actual & past experience, with projections of future income, expenses, and cash flows.

Loan officers will use all of this information in determining whether or not your loan request should be processed for approval. Requesting a loan to satisfy past due creditors, unless accompanied by a convincing strategy to improve your financial situation, is usually not viewed favorably by a banker. If you are having trouble paying creditors now, chances are that you are not generating enough income to repay the loan. This is a risk bankers are not willing to take.

Always supply complete credit history. Any defaults, late pays, etc. Bank does a complete credit check through full banking industry. Any information which is not disclosed, will show up & be a major negative to your final loan approval.

Gathering Financial Data

In considering your loan request, potential lenders will want to review as much financial data about your company as possible, whether it's a startup or an established business. Here is some information bankers look for:

  • A summary of average amounts of funds on deposit.
  • A list of investments, fixed assets, other assets, with details and supplementary schedules, giving market or appraisal value where appropriate.
  • The aging of receivables, with details regarding any concentration in a few customers
  • The details of notes receivable and the risks of collection
  • Inventories with details on price stability, aging and turnover
  • Your liabilities and reserves, with full details where indicated.

In addition, bankers may need detailed information on collateral to be offered and may require personal financial statements. This is particularly true when the company is closely held or if a loan guarantee agreement is involved. Always be honest about your financial situation. Whenever possible, any unfavorable information should be accompanied by details of management's plans to overcome the problem. Your CPA can help compile the financial data, and may be able to help you prepare a business plan, to present information to selected lenders effectively.

Developing The Loan Request

Submitting an acceptable loan request requires more than a little financial know-how. Although you know more about your business than anyone else, you may not be the most qualified person to prepare and present your loan request. A CPA can assist you in identifying the most appropriate funding sources and aid you in preparing a funding proposal that will help you get the loan you truly need.

As CPA's, and Business Valuers Sy Schnur & Associates can help you in all phases of your financial needs.

  • Determine whether or not you really need a loan and if the loan will solve your company's problems & meet its objectives.
  • Determine where your best source for obtaining loan funds exist and where you will get good terms for loan repayment.
  • Ascertain your community's banking requirements for securing a loan.
  • Review significant aspects of your business & prepare key ratios for developing trends.
  • Draw up a realistic forecast of your Company future based on its past history & your realistic future goals.
  • Determine the size of the loan you need & calculate a repayment schedule including interest cost you can comfortably handle.
  • Negotiate the terms of the loan agreement.
  • Prepare financial statements, projections & business plans that lenders will request from you.

The financial expertise of Sy Schnur & Associates, with the combined qualifications of being CPA's, & Business Valuer's can make the difference in securing your business' future. We have the insight into many different types of businesses, as well as experience in start-up companies. By helping you present a complete picture of your business to potential lenders, we can help you obtain the funding you need. Before you complete any forms at a bank, contact Sy Schnur & Associates. We will give you the honest advise you need for this difficult financial situation.





Debt & Financing Advise

Whether your needs are corporate or personal, our professionals can assist you in sorting out the different options available for debt management and financing that will result in optimal tax implications and minimized financing costs.


Audits, Reviews and Compilations

Our financial statement services comprise all three levels of assurance depending on your company’s needs.

Audits offer the highest level of assurance to third parties, and include in-depth examination and confirmation of account balances, inventory observation and testing, and selected transaction review.

Reviews provide limited assurance to outside party of interest and involve inquiries and analytical procedures wherein we review the proper handling of material financial statement matters and identify items that may require further investigation.

Compilation are usually requested for internal purposes, or some light confidence and are based upon information provided by a company’s management. They do not offer assurance but may involve some adjustment to accounting records.


Business Plans

Planning For Your Business Future. This Is Mandatory For Keeping Your Business Alive In The Current Economic Environment.
Aggressive Competition Is Currently Planning How To Take Your Clients.
Either You Plan To Be The Successor Or You Will Be Devoured.
Preparing organizational plans may be essential to your firm's well-being and future success. A business plan reflects the goals of a Company., it states:

  • Where You Are Today.
  • Where You Would Like To Be Tomorrow.
  • How You Plans On Getting There

Sy Schnur, is a licensed CPA & a licensed Business Valuer as well as being a Financial Planner. With aid of our specialists we can help you identify your business strengths/weaknesses & prepare plan which addresses problems, and identifies the opportunities, so business whether it's a start-up or established, can reach its full potential, long-term growth.

How Your Business Benefits?

Formalizing your company's objectives in a written document can help you see and thus initiate actions that will result in increased profits. Setting conceived business goals and objectives can also result in the following:

Improved Resource Utilization.

An evaluation of your Company resources helps determine capabilities and limitations.

Increased Employee Motivation.

Clearly stated goals and each individuals roles in achieving them. This provides an increased sense of employees' involvement in the organization's future.

Increased Communication.

A written document allows you and others to review and better understand the business, thus stimulating ideas and programs to strengthen the organization.

Greater Organizational Control

A formal plan encourages adherence to project completion dates and standards of performance.

Source Of Information For Third Parties.

Stated goals & plans are useful & major aid when seeking business financing, negotiating mergers, or sales promotion.

Learning Experience.

An  in-depth study of your organization provides a better understanding of strengths and weaknesses. This allows you to deal with admitted weaknesses!


The Planning Process

There are five basic stages involved in developing a business plan for a Cornpany's growth. Our firm is equipped with the knowledge & experience & will guide you through each stages of the planning process.

  1. Developing Statement Of Purpose.  A clear statement of your business' purpose & reason for being, will guide the formulation of the plan.
  2. Defining Goals.  When defining goals, determine what the plan should accomplish & the feasibility of these accomplishments. Consider the compatibility of personal goals & company goals. We will work with you on documenting your selected goals so they can be clearly understood, consistently applied, & periodically evaluated. We recommend that you use a planning time frame of three to five years including enough flexibility to modify your goals.
  3. Determining Strengths & Weaknesses.  Making valid decisions on what programs need to be implemented to achieve goals requires extensive analysis. We can be a vital resource towards this end. Specifically, the following needs examination:
  • Size of your potential market
  • Description of customer needs
  • Industry statistics and projections
  • Competitive market data
  • Promotion & advertising strategies


  • Description of product line
  • Patent, trademark & trade secrets
  • Manufacturing&operation fixed & variable costs
  • Laws and regulations affecting the business


  • Historical financial data
  • Cash management data
  • Projected financial data

Writing The Plan.

The actual plan states what actions you need to take to achieve your goals, taking into consideration the current, competitive and future environment of your business. An analysis of your business' strengths and weaknesses is then prepared. Programs to emphasize the strengths and minimize the weaknesses of your business can then be incorporated.

Revising The Plan.

Once developed, the plan should be reviewed and revised on a regular basis. By constantly reviewing, monitoring and updating the plan you are ensuring the effectiveness of the plan and your business future.

Our firm can help you develop both the plan and an effective monitoring program that can keep your business plans and activities on track. Begin the planning process now by contacting us now. Your future depends on proper planning.

Summary Of Why We Should Help You

If You Do Not Plan Your Continued Business Existence, You Will Be Preventing Its Perpetuity.

Developing a business plan requires an analysis of various data on operations, finances, and your overall organization. With the multiple licenses of being CPA's, Business Valuer and Financial Planner & having an attorney on staff we are particularly qualified to help your businesses in every stage of the planning process. Because of this broad background & over 40 yrs. of experience in handling a multitude of financial matters & advice & assistance in devising first-rate business plans.


With our specialist qualifications we can:

Review Historical Document Such As:

  • Financial statements and management letters
  • Debt and lease agreements
  • Budget & other internal plans & reports
  • Income tax returns

Compare Your Business History To Industry Data

Analyzing your business' financial ratios & compare results with ratios of similar businesses and make judgments based upon review of data.

Develop Projections Of Sales And Other Financial & Operations Data

Projections of possible future results based on alternative future actions or events, are extremely useful in determining which plans leads to best results.

Evaluate Operations

An objective review of your operations will provide information, about employment conditions, expansion potential, inventory conditions, storage requirements, equipment condition & usage, & other factors. Whether you use the business plan to plan your business or for a presentation to others you will benefit from the assistance of knowing that your business plan has been prepared by persons whose expertise you can rely on.


Financial Projections & Forcasts

No one can predict the future perfectly, but we can all benefit from planning for it. Our firm combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Depending on your needs, our work can range from top-level reports to detailed financial models.


Business Appraisal, Litigation Support & Forensic Accounting

Why Is Business Valuation Important?

A business valuation allows a Business Valuer, where the situation exists, to take advantage of allowed discounts for lack of marketability & minority interest. This will allow the business value to be adjusted by discounts ranging from 15%-51 % which can be quite significant for Estate & Gift Tax Values & for Divorce Mediation. As part of Divorce Value, we also do the forensic accounting.

Litigation Support and Forensic Accounting

Litigation support - We offer highly cost effective, extremely reliable document review and assessment support for all types of litigation including tort cases, class actions, complex litigation, white collar, and other government investigations, and insurance defense.

Forensic accounting - We provide an in-depth review of property transfers and money going in and out of accounts as well as using external tracing tools to determine the extent of fraud or manipulation. This take place in many venues from business, divorce, bankruptcy, securities and other areas where cash or merchandise is uncontrolled.


Disability Insurance



The probability that you will experience a disability that will last more than 90 days is statistically more likely than the probability of your premature death even at age 60.  For this reason, disability insurance coverage is of primary importance in your financial planning.  Your personal resources and your disability insurance policy should be able to replace at least 60 to 70 percent of your pre-disability income.  Disability insurance provides you monthly payments when you are unable to work because of illness or injury.

Short term disabilities can usually be covered by your emergency fund and savings, vacation or sick leave benefits, or in some cases, short-term disability coverage available from your employer.

When considering the purchase of long term disability insurance, consider the following:

  • Annual renewable disability insurance is typically the least expensive way to purchase disability insurance.
  • A step rate or level premium disability insurance plan, purchased from a participating (dividend paying) insurance company, will also reduce the long-term costs of a disability policy.
  • Purchase a policy that is guaranteed renewable and non-cancellable.  With the guaranteed renewable option you have the right to renew the policy annually, regardless of your current health, up to a maximum age, generally age 65.  With a non-cancellable option, if you pay the premiums, the insurance company cannot cancel or modify the provisions of the policy although they can increase the premiums for an entire group of policy holders.  Many companies are charging extra for the non-cancellable option.
  • Purchase a policy that provides guaranteed  future insurability.  This feature allows you to increase your benefit without proving evidence of insurability.
  • Disability insurance should cover both sickness and accident.  Choose a policy that covers sicknesses when first manifested and not first contracted.  An illness may not manifest itself until after you purchased the policy although it may have been contracted before you purchased the policy.  Also select a policy that pays benefits if you lose your vision or the use of your arms or legs.  Avoid contracts that require the severance of your limbs.
  • A good disability policy will cover you in the event you cannot perform the usual and customary duties of your own occupation.  A more restrictive policy, and less expensive, will only pay benefits if you cannot perform the duties of any occupation to which you are reasonably suited by education, training or experience. 
  • The disability policy should also have a provision to pay a residual disability benefit.  This coverage is payable if you can only return to work part-time. 
  • If possible, obtain a policy that will pay benefits for your lifetime or at least until age 65.
  • Reduce the cost of disability insurance by selecting a long waiting period between the time the disability occurs and the time payment of the benefit begins.  Be sure you have enough money to survive the waiting period.  Usually a 90 day waiting period or longer will create a dramatic reduction in disability premiums.  Waiting periods are typically 30, 60, 90, 180, or 365 days.  The policy should have a provision for recurrent disabilities.  This provision provides that if you return to work after being disabled for some time period and then become disabled again by the same condition, a new waiting period is not triggered.
  • Premium costs for disability insurance may be discounted for non-smokers and good health.
  • The insurer should be willing to waive your premiums during any period of time that you are disabled and receiving a disability benefit.
  • The policy should provide an option to increase your benefits to reflect an increase in the cost of living (inflation indexing).  Some policies place a ceiling on the amount the coverage can increase.  This ceiling is usually two or three times the basic coverage.  Find out what the ceiling is before you pay for this additional benefit.
  • The policy should pay for physical and occupational rehabilitation costs.
  • A waiver of premium provision that allows the annual premium to be waived until 60 day after complete recovery.





Consider purchasing a policy that pays a benefit for partial disability.

  • If you have more than one source of coverage, ascertain whether there is a coordination of benefits provision.  With a coordination of benefits provision, the benefits paid under one policy will be reduced by the benefits paid under another.
  • Your disability insurance benefit should not be reduced by any Social Security disability benefits you may be entitled to if you are permanently disabled.
  • If you are on a tight budget consider a step-rate plan where premiums start off low for several years then increase to the normal level.
  • When considering the purchase of disability insurance, ask the agent to provide you with the company's history regarding the payment of disability claims.  Ask to see the payment of claims ratio.  A low ratio of 80 percent or less may indicate that the insurance company is too restrictive in the payment of claims.  The claims information is presented in the Argus Chart.  A good agent will be pleased to provide you the information.
  • Determine the financial stability of the insurance company before you purchase a policy.  Depending on your age, the policy may be in force for 20 to 40 years.  Select a company that has top ratings from three of the five rating companies, and that will not likely be a candidate for acquisition or merger with another company.  Mutual companies have a better chance of avoiding a merger. (See: How To Evaluate The Strength Of An Insurance Company).  In addition, select a company that writes little or no group health or disability insurance where AIDS claims and other underwriting weaknesses could result in higher future rates or company financial weakness.
  • If you are a partner or an owner of a closely held corporation, consider funding a buy-sell agreement with disability insurance in the event of your disability.  Under this arrangement, the company generally would pay the premiums for the coverage.  Upon your disability you would receive payments in exchange for your ownership in the enterprise.
  • If you are an owner of a business and you have an employee that is indispensable to your business, consider purchasing a Key Employee Disability policy.  If your key employee becomes disabled you will receive a monthly payment to cover expenses for additional help or to replace lost profits.  Benefits are generally paid for a period no longer than 24 months.
  • If you are a business owner, consider the purchase of business overhead expense insurance.  This insurance covers business expenses such as rent, salaries, utilities, lease payments, insurance premiums, and other obligations should your income cease as a result of your disability. 
  • Your disability benefits will be received tax-free to the extent you paid the premiums.
  • Long-term disability insurance can be purchased less expensively if it is group coverage.  Request that your employer offer group disability insurance, provided there are other employees who will participate.


Business Appraisal & Litigation Support


  1. Business Appraisal (Valuation) for Various Purposes

  2. Business Restructuring, Mergers, Acquisitions & Sale

  3. Litigation Support and Forensic Accounting

  4. Succession Planning

  5. Divorce Planning & Business Appraisal (Valuation)

  6. Estate & Trust Appraisal (Valuation)

  7. Insurance Loss Claims Rep

  8. Wrongful Death Claims Rep

  9. Fraud & Misappropriation Investigation


Business Appraisal (Valuation) for Various Purposes


Why Is Business Valuation Important?

A business valuation allows a Business Valuer, where the situation exists, to take advantage of allowed discounts for lack of marketability & minority interest. This will allow the business value to be adjusted by discounts ranging from 15%-51 % which can be quite significant for Estate & Gift Tax Values & for Divorce Mediation. As part of Divorce Value, we also do the forensic accounting.

To view the IRS Revenue Ruling 59-60 and Business Valuation - Please Click Here






Business Restructuring, Mergers, Acquisitions & Sale

Restructuring your business — reorganizing your employees, products and financials

1. Is in financial or legal distress.
2. Wants to re-focus its core business holdings.
3. Needs to adapt to rapid growth and organizational change.

Action Steps

  • Evaluate your problems - Analyze your situation to determine if your problems have solutions. Are your company's ailments a symptom of its organization, or are they a sign that your business simply isn't viable? Restructuring can save a salvageable business, but it can't help a failed idea succeed.
  • Develop a plan - Create a restructuring plan with which to grow your business and consolidate it. Share the plan with your managers, staff and important third parties, including your creditors and vendors.
  • Realign your team - Restructuring should include reorganization of your employees. Start at the top with an evaluation of your management team and work your way down the company totem pole. Replace weak members of your team and eliminate extraneous positions.
  • Restructure your debts - Use the restructuring process to put your finances in order. Take out new loans, if necessary, to fund restructuring, but work with your accountant to make sure your fiscal plans are sound.




Tips & Tactics

  • Lower costs by building intimate relationships with a small number of vendors. Keep them abreast of your company's changes and work with them to maintain affordable service as you move forward with reorganization.
  • Restructuring can be as simple as moving things around; be willing to shift financial and personnel resources from less profitable projects to those that make you the most money.
  • As you restructure, maintain high customer service standards by answering clients' questions promptly and honestly. Instead of hiding changes from your customers, use restructuring as a means for communicating with them.
  • Consider strategic restructuring, whereby you'll partner with another business - via a merger or joint venture, for instance - in order to save yours.
  • A restructured company needs entirely new policies and procedures. Wipe your slate clean and meet with remaining employees often to present company goals and get input on company culture.

The economy today is not stabilized. Even big companies have to confront the ups and downs that come their way. But the only thing that keeps them going is survival. They have to survive in the market and progress swiftly or gradually. One strategy to advancement is that of mergers between companies. There are numerous mergers that take place locally but they do not have a great effect on the market especially the consumers. But the mergers that take place at the national or international level have a profound impact on the economies of the concerned countries.

There are different reasons behind a merger of two or more companies. But first of all there exist diverse types of mergers.

a) Horizontal Mergers - two competing companies conjoin to form a single large company. The companies in horizontal mergers are selling the same product in the same market and so are contenders to each other. Such a merger can have a tremendous influence on the market from creating monopoly to escalating prices of the commodity.

b) Commission - the market and the consumers keep a hawks eye on such mergers and at times detains the companies from merging in the interest of the people.

c) The Vertical Mergers - are the mergers between a supplier and the distributor company of the supplies. This is an anti competitive merger but can be highly beneficial to the company. It is because the distributor will no more have to pay for the manufacturing of the supplies, it gets the product at the base price. So there is good cost saving due to this. Vertical merger also rules out lot of competition from the market.

d) Market Extension Merger - between the companies selling same product but in different markets. This merger enhances the market for the two companies since they now act as one sole company.

e) Product Extension Merger is like the one between an eminent company making motor parts and another that makes their own cars. So, the companies involved here sell different but more or less the same product in the same market. This merger promotes the sale of both the companies significantly.

f) Conglomeration is a merger where the concerned companies have nothing in common to sell.

There are various reasons behind merger of companies.

a) Synergy factor prompts the merger of most of the companies. The synergy in business pertains to the cost saving and revenue enhancement. The companies after merger decrease the staff keeping only the skilled labor, work with a single managing director, CEO etc. So there is good outlay saving. Moreover the economy of the sale i.e. the purchasing power of the company booms after merger.

b) To increase the output and rule the market- many mergers are made with the intention to oust the competition and jointly rule the market. This presupposes healthy relations between the competing companies.

c) Mergers also take place when a company is not able to perform well due to some or the other cause like the lack of required investment in the form of capital, tremendous competition etc. In such a situation this company can merge with one its parent company or any other company that has faith in the prior goodwill of the declining company and in its potential to grow and enhance. So companies also merge in order to overcome their internal inconsistencies.

d) Many a mergers besides economically are also politically driven.

e) Acquisitions which imply taking over of one stronger company with the other weaker one are also at times veiled by the name of merger.

However, the directors who plan to merge their companies should actually contemplate over it, keeping in mind all the possible pros and cons. They must seek advice from neutral financial consultants who do are more inclined towards the welfare of the company and not their own. Their own benefit is also hidden in a merger since the wages of the employees increase with the advancement due to merger. So it is recommended to take advice from all those who are the well wishers of the company before taking any concrete step in this direction.


Litigation Support and Forensic Accounting

Litigation support - We offer highly cost effective, extremely reliable document review and assessment support for all types of litigation including tort cases, class actions, complex litigation, white collar, and other government investigations, and insurance defense.

Forensic accounting - We provide an in-depth review of property transfers and money going in and out of accounts as well as using external tracing tools to determine the extent of fraud or manipulation. This take place in many venues from business, divorce, bankruptcy, securities and other areas where cash or merchandise is uncontrolled.

Request information about Litigation Support and Forensic Accounting


Succession Planning

Transfers Of Assets To Successor(s)

If you plan to transfer ownership of your business, you will want to ensure the financial security of your retirement. as well as the continued well-being of the business which is the funding vehicle. It is important to have a succession plan for the following reasons:

  • you plan to retire but have no immediate successor.
  • your designated successor needs more training to operate the business effectively
  • your retirement plans have changed
  • your designated successor lacks the financial resources required to keep the business running

Proper planning for business succession will ensure the continuation of operations with minimal disruptions because of our tax, business valuation and business expertise. We are capable of creating an all inclusive plan for successfully passing of your business to the next owner, with minimized tax consequences.

The Planning Process

Planning for business succession usually begins with a preliminary evaluation. We gain an understanding of the business and determine whether the succession plan will meet the real objectives of the business & its owner(s). We will research the history & operations of the business. The engagement may consist of client and key personnel interviews, review of financial statements & tax returns. We will also review other relevant documents including trust agreements, wills, shareholder, buy-sell agreements, and partnership agreements.

Developing A Succession Plan

There are four basic stages involved in developing a business succession plan. We possess requisite knowledge and experience to create a plan that is both workable & economically feasible:


1.  Fact Findings:  We collect information through interviews & the review of Company documents to understand the goals of the owner, the owner's family members, key employees, & the business itself. Specifically the following items need to be examined.


Interviews of appropriate people and review of important materials.

Financial statements and tax returns
Industry data and trends
Company's business plan

Owner's Information

Specific ideas about succession
Opinions on family members
Strategic plans
Timetable for succession

Family Information

Background and potential successors
Family agreements
Job descriptions and compensation agreements

Key Employee Information

Feedback on current performance and future potential to business
Assessment of capabilities of potential successors

2.  Succession:  Herein, we considers a number of possibilities with regard to the individuals involved & the advantages & disadvantages of each alternative in terms of business growth.

Some of the most common alternatives:

Plan For Family Succession
The older generation strongly desires that the younger family members continue to control and operate the business. If training is needed, a CEO can be installed temporarily until the designated family member can properly manage the business.

Sale To Key Employee(s)
The employee(s) need to have the financial resources to acquire the business as well as the management capabilities. Any potential conflict among employees should be resolved.

The Establishment Of An Employee Stock Option Plan(ESOP).
Each year the company contributes a portion of its earnings to the ESOP to enable employees to buy a percentage of the Company's stock.

The Installation Of A New Ceo.
To retain ownership, a board of directors is created to select a CEO to run the business. This can be useful if the owner believes the value of the business will significantly increase.


Communicating Findings & Recommendations

Thru fact findings we form the basis of recommendations for action or we may help the you reach a decision.


Implementing The Succession Plan

We work with the CEO and/or key personnel to develop a detailed succession plan with milestone dates. We monitor the implementation schedule & act as a liaison between your client and other parties, including bankers, attorneys, investors & family members, in the follow-thru and the training per formulated plan.


Why Choose Our Firm?

We are CPA's, Financial Planners & our owner is a CVA, ( licensed business valuer).

Developing a succession plan requires an analysis of various data on your operations, finances & objectives & the management capabilities of family members. Based on our broad background and expertise in multiple financial and business matters, we are particularly qualified to guide you through each stage of succession planning.

Do to our simultaneous view of your succession needs, by one person, with multiple licenses and business expertise we can help you:

  • Gather necessary background information on the company and conduct interviews.
  • Clarify your goals and those of key employees.
  • Interview and evaluate potential successors.
  • Analyze alternative succession plans to determine their advantages and disadvantages.
  • Develop a written succession plan and document the necessary skills to operate the business.
  • Plan a succession training program in advance of the owner's retirement.
  • Create a contingent plan for unexpected situations.

By blending our expertise in business valuation, financial planning, tax & business matters with your company's goals, we can facilitate an orderly transfer of ownership & mgt. of the company, as well as minimize the amount of estate taxes due. Due to our licensed business valuation skills our firm can also help you obtain a reasonable sales price to assist you in maintaining financial independence during your retirement years. Before you make any business decisions contact Mt. Kisco Tax and Monetary Services Group, Inc., and its affiliated firm Sy Schnur, CPA/PFS, and Insurance Agents Associated.





Divorce Planning & Business Appraisal (Valuation)

  • In agreeing upon the amount of alimony and child support to be paid and the right to dependency exemptions, both your tax bracket and your ex-spouse's should be considered in order to minimize the overall tax burden.  Alimony is deductible by the payer and taxable to the recipient.  Child support is neither deductible nor taxable.  If the payer is in a high tax bracket and the recipient is in a low tax bracket, consideration should be given to increasing alimony payments and decreasing child support.  In addition, the child dependency deductions may be better utilized by the spouse in the higher bracket.  However, see Tax Planning: Deductions for Personal Exemptions.
  • Ask the IRS to relieve you of liability for amounts owed on a joint tax return where your spouse understated the taxable income, and the income was attributable to your spouse or the deductions were claimed by your spouse without your knowledge.  IRC 6015
  • If you are planning to sell your home, consider selling your home while you are eligible to file a joint tax return. Provided that you and your spouse meet the ownership and use tests, you will be eligible to exclude up to $500,000 of gain. If you are divorced or you are not eligible to file a joint tax return, the maximum that you will be able to exclude is $250,000.   IRC 121(b)(2)
  • Contribute up to $2,000 of alimony you receive to your IRA established by your ex-spouse.  IRC 219(f)(1)
  • Rewrite your will when your divorce is final.
  • Rewrite your revocable living trust and modify provisions that relate to your ex- spouse.
  • Revoke any power of attorney that involves your ex-spouse.
  • Have your parents or other family members consider modifications to their estate plans that involve your ex-spouse.
  • Upon your legal separation or divorce, consider changing the beneficiary designations on all your IRA's, pension plans, insurance policies, and other documents requiring a beneficiary designation.
  • Change jointly owned property with rights of survivorship to tenants-in-common.
  • If your divorced or separated spouse works for a company with 20 or more employees which has employer-provided health insurance, you are also entitled to the coverage for 36 months following your divorce or legal separation.  However, you may have to pay the monthly premiums.  If you have children and you are a custodial parent who doesn't work, your ex-spouse can generally obtain dependent coverage under his or her employer's plan.
  • Notify insurance companies of the change in your marital status.
  • Consider purchasing or increasing disability insurance if, as a result of the divorce, you commence employment, or the level of your employment income increases.
  • Be sure your attorney invoices you separately for any income tax advice relating to the divorce as legal fees for divorce generally are not otherwise deductible.
  • Terminate joint credit cards.


Estate & Trust Appraisal (Valuation)

Large estates are subject to high estate taxes and normally have in depth estate planning. However, planning also determines who receives what share of the estate, how and when the beneficiaries will receive their inheritance and income share, who will be the guardian for your children, who will manage your estate (executor, trustee, etc.) and be responsible for distribution of the assets, who will manage the funds that may pass to grandchildren, who will provide orderly continuance of sale of the family business and who will plan for plan how administrative expenses will be paid without delays.


Fraud & Misappropriation Investigation

Embezzlement is the intentional misuse or misappropriation of funds or assets (tangible or intangible) entrusted to an employee who has power, control, trust or authority over that money or asset.

We conduct theft, fraud and embezzlement investigations.

These are some of the areas where we can assist you:

· Retail employee theft

· Document manipulation through false vendors, payroll, or other bookkeeping areas.

· Missing assets or inventory.

· Missing deposits.

· Falsification of expense reports.

· Shrinkage.

· Vendor collusion.

· Internal data mining

· Interview strategy for witnesses and/or suspects.

· Obtaining written statements.

· Working with polygraph examiners.

· Case preparation for local law enforcement.

· Identifying potential civil liability areas during the investigation process.



*This website is for accounting services only. For services that are not accounting related please go to our other website

*Securities offered only through Cetera Financial Specialist, LLC (doing insurance in CA as CFGFS Insurance Agency), member FINRA/SIPC. Cetera is under separate ownership from any other named Entity.

*This site is published for residents of the United States only. Registered Representatives of Cetera Financial Specialist, LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all products & services referenced on this site may be available in every state & through every representative listed. For additional information please contact Sy Schnur Financial Advisor the representative listed on this site, Visit Cetera Financial Specialists LLC site at

*Sy Schnur is affiliated with Cetera Financial Specialists, LLC and is a Registered Investment Advisor who offers brokerage services and receive transaction-based compensation(commissions) and is also a Investment Adviser Representative who receives fees based on assets under management. 

*The income tax brackets for trusts and estates also increase in 2022 to the following: 37 percent for income greater than $13,450; 35 percent for income between $9,850 and $13,450; 24 percent for income between $2,750 and $9,850; and 10 percent income of $2,750 or less Standard Deduction vs Itemized Deductions