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"My name is Jimmy D’Angelo, my family and I own and operate two Italian restaurants. I was a bit nervous when our small accounting firm was bought by Schulte & Co CPA’s and Rothrock Payroll services. We had a professional and personal relationship with our small accounting firm and I am delighted to say that same relationship has carried over to Schulte & Co and Rothrock.  They have upgraded me and our books into the most current software. Colin was patient and professional guiding me thru that upgrade and learning curve. Schulte & Co was up to date with all of the small business COVID opportunities and provided guidance and necessary documents to apply for those grants.  In the transition we also started with a new payroll service, Chrissie has been outstanding. She pays attention to detail and makes sure that I haven’t left anything (or anyone) out. Both Colin and Chrissie are available and prompt with return phone calls or emails. I highly recommend Schulte & Co and Rothrock’s services." - Jimmy D’Angelo

TAXATION

On March 27th 2020, the Coronavirus Aid, Relief and Economic Security Act, the “CARES Act”, which included provisions for the SBA Paycheck Protection Program (PPP), became law. The PPP provided businesses access to loans to pay certain expenses due to hardships faced by the COVID-19 outbreak and related business disruptions.  If the monies were spend for qualified expenses, the loans would be 100% forgiven.  The monies were initially available first come first serve.  April 1st, 2020, the SBA released the PPP loan application form. On April 2nd, Schulte & Company focused 100% of our staff on completing PPP loan applications for over 200 tax and payroll clients. These applications and supporting documents were emailed to our clients by 9 am on Friday, April 3rd , which was when the banks began taking PPP loan applications. Every client who completed the PPP loan application process got funded. In the following weeks, Schulte & Company reached out to clients to provide guidance on spending PPP funds received in ways that would qualify for 100% forgiveness; and again to help them apply for PPP loan forgiveness. Clients who spent PPP funds in qualified ways had their PPP loans 100% forgiven. Client response was overwhelmingly positive, exemplified by the following comment: “Sophie- I hope you and your family are healthy and safe. I just want to thank you and the staff at Schulte & Company for providing this service. I am beyond grateful to you! Ann”

This is an example of our "Taxation" services that you can learn more about here.

Consulting and Tax Planning

Schulte & Company does not sell Investments or insurance; but we work with some of the best in those businesses.  Because we do not sell insurance or investments, our clients regularly seek our opinion about financial products they are considering.  With a firm understanding gained from providing tax and/or accounting services to the client, we are able to provide meaningful guidance into the financial and tax implications of a client’s investments.  When a financial advisor is providing one of our clients a product that fits their needs, we gain confidence in referring other clients to that financial advisor.   

 

Here is what one trusted advisor has to say about our services;

 

“Schulte & Company are some of the most conscientious and diligent people I know. They are accurate precise and driven to perfection. When they work on a project, I know the ball will not get dropped. I have referred them to some of my most coveted connections because I trust them and you can too.”

 

Dave Vespoli, Wealth Advisor, Stratos Wealth Partners, Ltd.

Financing, Mergers, and Acquisitions

Most CPA firms are capable of providing financial statements to meet a bank covenant and preparing required tax returns for the government.  But with Schulte & Company you get more than just meeting a bank or government mandate.  Beyond delivering tax and accounting services in a cost efficient, coordinated manner with no surprises, we view meeting these requirements as a recurring opportunity to improve your bottom line. The accurate financial statements and timely tax returns we provide become tools for your business: tools that we use to provide tax planning, obtain financing and sell your business. Our expertise to provide these consulting services is one of the things that helps distinguish Schulte & Company from other CPA firms.  Here is what the managing member of a manufacturing client recently said to his new banker:     “Schulte & Company has been our accounting firm since 2008.  They have done everything we have asked and more, from performing our audit and preparing the tax returns for our business and owners, to tax planning.  Their service has been outstanding; they are always asking ‘What more can we do to help?’ They provide our annual business audit and tax services smoothly, in a coordinated effort.  They work well with our staff.  Over the years, their tax planning strategies have saved us business owners tens of thousands of dollars in taxes.  When our chief financial officer fell ill and ultimately passed away, they stepped in, prepared a loan request package, shopped it with different lenders and successfully secured new credit lines and term loans.  Most recently, when we were experiencing a transition in ownership, they helped us evaluate the business and tax implications of various buyout alternatives.  They deliver big firm accounting experience with the personal touch of a local firm.”

Financing, Mergers, and Acquisitions

As CPAs, Schulte & Company prides itself on being a trusted resource that business owners can count on.  Part of being the trusted resource is delivering accurate and timely financial statements and tax returns.  These are the starting points for financial decisions and planning. 

 

We provide monthly financial statements and tax services to dozens of franchisees.  Here is what one of national franchisor, who has dealt with hundreds of accounting firms in his career, recently instructed his franchisee’s in regards to our services:

 

“I’ve found none better for the price and expertise that’s provided than Schulte & Company.  I’ve found franchisees that I’ve recommended Schulte & Company to have everything they need to measure and monitor the financial health of their business.  Without fail, this makes a huge difference.  With the right accounting firm and a few lessons on how to interpret your financials, it can make the difference between success and failure of your business.  I strongly encourage you to reach out to Schulte & Company.”

Financing, Mergers, and Acquisitions

When you receive a tax notice in the mail, it is a natural reaction to become nervous, confused, upset, angry and all of the above.  As our federal, state and local governments struggle to find every last dollar of revenue possible, an unrepresented taxpayer can often be a victim of an over-zealous auditor.  Schulte & Company CPAs has the experience, know-how and steady approach to protect its clients and fairly dispatch government inquiries.

 

This is an example of the results we can achieve;

 

On behalf of my company, Schulte & Company contacted the local tax assessor and subsequently wrote a response letter.  They turned a notice demanding payment for several thousand dollars in taxes and penalties into a substantial tax refund.  What more can you ask for?!

 

Jonathan D. Torrens CFP(r), President & Chief Investment Officer, Torrens Capital Management, LLC

 

Results like this are dependent on the underlying facts and circumstances.  While we can’t always work this kind of “magic”, we always do our best for our clients and know to ask the right questions

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