Who does Leek & Associates work with?
Businesses, non-profit organizations and individuals, principally in Arkansas. The Little Rock office serves high-net-worth individuals and their companies, non-profits and trusts; the Hot Springs office serves individuals, estates and trusts, and medical professionals.
Is Steve Leek a CPA?
Yes. Stephen A. Leek is a Certified Public Accountant and a Certified Valuation Analyst, and lists the Master Analyst in Financial Forensics credential. He holds a BS in Accounting from the University of Arkansas at Fayetteville and an MBA from the University of Arkansas at Little Rock.
When does a business need a valuation?
Most often to calculate estate tax, divide assets in a divorce, or negotiate a purchase, sale or merger. Buy-sell agreements, gifting programs, ESOPs, financing, partner disputes and succession planning are other common reasons. NACVA recommends a valuation every two years as a management tool.
Why not just use an industry rule of thumb?
Because the value of a business is not net profit or gross sales times a multiple. Intangible assets such as goodwill, customer lists, trademarks, a strong management team and non-compete agreements are often worth more than the tangible ones, and valuing them takes specialized training.
Do I need an audit, a review or a compilation?
It depends on who is asking for your financial statements. Many businesses early on need statements in a proper format for creditors or owners without a full audit, and a compilation can serve that economically. We will tell you which one your lender, board or agreement actually requires.
Can you help if the IRS examines my return?
Yes. Representation during examinations by the IRS and other taxing authorities is part of our tax services, alongside planning, preparation and compliance advice.
Do you work with attorneys?
Yes. We reconstruct financial information for pre-trial, trial and settlement proceedings, and have performed investigative accounting in marital dissolution, fraud, shareholder and partnership disputes, asset and income tracing, and lost-profits cases.
How are fees set?
Fees are not published on this site; ask during your consultation. We hold ourselves to a simple test: is our fee commensurate with the benefit to the client?
