OUR MISSION
Our mission at Rea, Whitehead & Associates is to provide our individual & business clients with superior personalized tax, accounting & advisory services by implementing practical solutions to meet their diverse needs.
SERVICES
Proactive Tax Advisory / Planning
- Examine clients’ particular set of circumstances, advise on optimal strategy to maximize tax savings
- Determine entity selection for business clients & advise on practices to minimize tax burden across all forms of taxation
- Uncover pending tax payments that may be unforeseen, due to windfalls, asset disposals or other events, in an effort to avoid negative surprises
Income Tax Preparation
- Provide income tax preparation for a wide variety of clients, including Individuals, Partnerships, C-Corporations, S-Corporations, Fiduciaries & Non-Profits
- Prepare both federal & state income tax returns (all 50 states)
IRS Representation
- Review correspondence from IRS & state tax officials
- Advise clients on best course of action to resolve tax matters & limit financial exposure
- Respond on clients’ behalf with tailored solutions to tax issues
- Assist in setting up payment plan to pay taxes owed
Business Formation
- Advise on optimal structure for new businesses
- Draft federal & state documentation needed to form partnerships / corporations
- Consult on the regulatory process & early stage company filings
- Engage with federal, state & local governments to ensure registration compliance
Accounting / Bookkeeping
- Set up newly formed businesses with Quickbooks, the most popular software used by small businesses to help track income & expenses
- Aggregate transactions & reconcile bank accounts to generate financial statements & other reports vital to business visibility & the tax preparation/planning process
Financial Reporting
- Create periodic reports & financial statements for management, which can provide crucial feedback on the operations of a company
- Customize reports to highlight the information management deems most important to run the business efficiently
Business & Financial Consulting
- Review business operating agreements to ensure they reflect intentions of the business owner(s)
- Advise on working capital needs/strategy to aid in cash flow optimization
- Consult on billing & procurement protocols, as well as optimal business systems & controls
- Establish other best practices for new businesses
- Provide ad-hoc consultation on personal financial & other business matters
Payroll Services
- Provide full-service payroll preparation, whether it is needed weekly, semi-monthly, monthly, quarterly, etc
- Customize payroll delivery to meet client needs (direct deposit or paper checks)
- Make payroll tax withholdings & deposits to federal & state governments
- File quarterly & year end payroll tax reports to comply with government requirements
Sales Tax Reporting
- Simplify state tax rules for clients, which can be very convoluted
- File sales tax reports on behalf of clients as required by state law
- Handle issues related to sales tax on behalf of clients as they arise
Outsourced CFO Services
- Contemplate funding & capitalization strategies
- Consult on exit strategies in the event a sale is being contemplated
- Perform due diligence on potential acquisitions
- Optimize working capital needs & business cash flow
- Create financial forecasts & budgets to improve financial visibility
- Implement appropriate business systems / controls & other general best practices
- Complement accounting/bookkeeping, payroll & consulting services listed above
Thank You For Your Service
We are proud to offer discounts for active Military, Veterans & First Responders.
ABOUT US
Bill Rea, CPA (in memoriam)
- Prior to his passing, Bill co-founded Rea, Whitehead & Associates, Inc. with his long-time friend & son-in-law, Tom Whitehead, in order to provide personalized tax, accounting & advisory services to meet the needs of individual & business clients.
- Bill was a Certified Public Accountant (CPA), & ran his own practice in Huntington Beach before forming Rea, Whitehead & Associates, Inc.
- Prior to running his own CPA practice, Bill was a Chief Financial Officer for several companies in the manufacturing (Western Door) & energy industries (J&S Supply, Inc. & TR Trading, Inc.), as well as a VP of Finance for a real estate development company (The Haskell Company) in Jacksonville, FL.
- Bill attended the US Coast Guard Academy for a year before transferring to Kenyon College, where he graduated with a double major in Mathematics & Chemistry. He then went on to receive his MBA in Finance & Accounting at the Columbia Business School in New York City.
Tom Whitehead, CFA, EA
- Tom co-founded Rea, Whitehead & Associates, Inc. with his long-time friend & father-in-law, Bill Rea, in order to provide personalized tax, accounting & advisory services to meet the needs of individual & business clients.
- Tom is an Enrolled Agent, federally-licensed by the IRS & specializing in taxation to represent taxpayers in matters before the IRS & state tax boards.
- Prior to forming the company, Tom worked in investment management & equity research at Nuveen & Morgan Stanley, & worked as a consultant for distressed businesses during the financial crisis of 2008-2009.
- Tom graduated cum laude from the Goizueta Business School at Emory University in Atlanta, GA with concentrations in Finance & International Business. Tom also holds the Chartered Financial Analyst designation, a highly regarded mark in the investment management industry.
- Tom enjoys surfing, golf, basketball, reading & spending time with his wife, Chase.