It's approaching that time of year when we start thinking about taxes. Accounting firms are preparing for the swamp of work that's about to come their way, and companies such as Frey & Co. CPAs in Walnutport are able to service tax needs.
Gary Frey, owner at Frey & Co. CPAs, this week's "Behind the List" subject, shares information about his firm and its services.
Lehigh Valley Business: How long has Frey & Co. CPAs been operating in the Greater Lehigh Valley and what are its primary services? Tax season is right around the corner. Does Frey & Co. provide tax services to individuals and/or businesses?
Gary Frey: The firm has been in existence since 1999. Our primary services include individual and corporate tax preparation, audits of government and not-for-profit organizations, financial statement presentation and management consulting.
LVB: Are there certain designations to achieve to become a registered tax preparer?
Frey: A Registered Tax Return Preparer was a new category of federal tax return preparers created by the U.S. Internal Revenue Service.
In January 2013, however, the Internal Revenue Service announced that it was suspending the program because of a ruling on Jan. 18, 2013, by Judge James E. Boasberg of the United States District Court for the District of Columbia. The IRS announced that because of the court's ruling, tax return preparers are not required to complete the competency testing or to secure the continuing education that had been required. Certified Public Accountants, enrolled agents and attorneys are still required to take continuing education classes to maintain their licenses.
LVB: What strategies does Frey & Co. implement to stand out among its competitors in the region when it comes to tax preparation?
Frey: The most important fact is to keep in contact with our client during the tax year in a pro-active manner versus waiting till the tax year has ended and it is too late to implement tax-saving strategies.
LVB: What have been some of the biggest hardships and opportunities Frey & Co. has encountered throughout its years in business?
Frey: The hardships include the downturn of the economy and our continued effort to keep our clients in a good financial status.
The opportunities include the ability to provide quality service to clients that we acquired who were not satisfied with the service they were receiving from other public accounting firms, as well as the ability to be able to grow the accounting and auditing portions of our practice.
LVB: What does the future look like for Frey & Co. on a local level?
Frey: The future looks very bright as we continue to grow and develop new services for our clients and potential new clients.
Compiled by christopher holland