As a new HNG client, what kind of documents do you need?

Business clients:  The last two years financial statements; current year to date financial reports; last two years income tax returns (including state and local); organization formation documents; fixed asset schedule; copy of loan and lease agreements; copy of buy-sell agreements; copy of benefit plan documents. 

Individual clients: The last two years income tax returns (including state and local); personal financial statement; investment statements (retirement & other); copy of insurance policies; copy of loan documents; copy of wills and estate documents.

I received a tax notice, what should I do?

Call or email HNG as soon as you have received the notice, then send us a copy.  Ignoring initial letters can subject you to more aggressive collection efforts by the agencies.  Reminder valid notices will be sent by mail, be suspicious of anyone calling indicating you have unpaid tax debts.

What’s the difference between a compilation, review or audit of financial statements?

HNG is required to issue a report upon completion of any compilation, review or audit engagement.  We are permitted to assist with preparing the financial statements, but the statements themselves are the responsibility of the entity and related management.  The following is a brief description of each service however; these services will require an engagement letter, which outlines the engagement in more detail.

Compilation – A compilation engagement includes HNG assisting with ensuring the financial statements are in accordance with GAAP (or other accounting method i.e. tax basis) with respect to form and presentation.  We are not permitted to provide any assurance as to the validity, accuracy or completeness of the information you provide.  Accordingly, this service is the most simplistic and costs the least. 

Review – A review engagement includes HNG assisting with ensuring the financial statements are in accordance with the entity’s accounting method similar to a compilation engagement.  However, a review engagement includes HNG obtaining limited assurance whether material modifications exist that should be adjusted in the financial statements.  This is done primarily by applying analytical procedures and making inquiries of management.  These engagements tend to cost more than a compilation engagement due to the limited assurance procedures applied to the financial records and data. 

Audit – An audit engagement includes HNG examining (on a test basis) evidence supporting the amounts and disclosures in the financial statements as well as obtaining an understanding of the company and its policies, estimates and internal control in order to assess the risk of material misstatement.  Audits of this nature do not include examination of all transactions.  Given the additional procedures performed in an audit engagement the cost exceeds both a compilation and review engagement. 

There are a variety of different options, including agreed upon procedure engagements, within the above services that can be pursued to meet the specific needs of clients.  We would encourage you to call or email HNG to discuss these options in more detail.

How does HNG protect my sensitive information?

HNG uses multiple levels of internal security and internal policies to protect client information.  Client information is NEVER shared with external parties without written consent.  Sensitive client information sent in electronic format is sent using a secure site (Citrix ShareFile).  Clients can also send and submit files and documents to HNG using this site.

Where is my refund?

Please use the following link to the IRS, Ohio sites to obtain updates on you refund status.

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