Business Services

  • Taxation

    • Planning ahead and utilizing all available tax strategies could provide significant savings. With planning, there won’t be those unpleasant surprises when the time comes to pay your taxes. There are many tax planning advantages including:

      • Timing of income and expense recognition for tax purposes
      • Fully utilizing depreciation expense for the year
      • Taking advantage of all available Federal and State tax credits
      • Maximizing the tax benefits associated with employee retirement plans
  • Consulting

    • Mitchell Wiggins provides a wide array of consulting services to help your business turn problems into opportunities.

      Our client consulting services include:

      • Business structuring
      • Mergers and acquisitions
      • Projections, forecasts, and business plans
      • Industry benchmarking analysis
      • Fraud investigations
      • Strategic planning
      • Estate, gift, and trust planning
      • Insurance needs evaluation
      • Succession planning
      • Cash management, including short and long-term cash flow projections
      • Litigation support
  • Accounting

    • Our accounting team can help you by giving you practical advice and taking care of the details so that you can focus on increasing your profitability. We provide comprehensive QuickBooks support including creating reports, employee training and cleaning up data files. We supply a variety of accounting and bookkeeping services including financial statements, preparation of required payroll tax and sales and use tax returns. Let us conduct a no-cost assessment to determine what you need so we can understand how we can help.

  • Business Valuation

    • Our valuation team has prepared reports for a wide range of purposes including: business planning, business purchases and sales, gift and estate tax returns, planning for gifts, estates and trusts, and other valuation consulting services. Our expertise has been accepted as qualified expert witness in courts within the Commonwealth of Virginia in the area of business valuations and accounting. We also provide other litigation support services for attorneys in valuation, divorce, income for support purposes, tax consequences, and economic damage issues.

      Our participation in professional organizations such as the National Association of Certified Valuation Analysts (NACVA) and the American Institute of Certified Public Accountants (AICPA), along with extensive continuing professional education programs, keeps us abreast of the latest developments in the increasingly sophisticated field of business valuation and litigation support services.

      Our business valuation and litigation consulting services include:

      • Estate, Gift, and Income Tax Compliance Valuations
      • Family Limited Partnership/LLC Valuations
      • Buy-Sell Agreement Valuations and Consulting
      • Litigation and Expert Testimony Consulting
      • Divorce Proceedings and Consulting
      • Mergers and Acquisitions
      • Calculation of Built-In Gains for Business
      • Employee Stock Ownership Plans (ESOPs)
      • Financing
      • Goodwill and Intangible Asset Impairment
      • Partner/Shareholder Disputes
      • Fractional Interests in Undivided Real Estate
  • Employee Benefit Plan Audits

    • A quality audit and expert consulting safeguards the funds necessary to pay for retirement, health, and other promised benefits to your employees. Our Employee Benefit Audit team brings specialized knowledge through deep industry experience and comprehensive annual training focused on changing professional standards. Our reliable and committed service delivers cost-effective audits with minimal disruption to your staff and ensures the avoidance of financial penalties. Mitchell Wiggins is a proud member of the Central Virginia Employee Benefits Council.

      Our employee benefit plan consulting services include audits and tax preparation for:

      • 401(k) Plans
      • 403(b) Plans
      • Defined Benefit Plans
      • Employee Stock Ownership Plans
      • Frozen Plans
      • Money Purchase Plans

      Additionally we can:

      • Provide assistance with Voluntary Fiduciary Correction Program (VFCP) filings
      • Make recommendations for improvement and provide information on industry trends
      • Review compliance with the plan document, IRS, and DOL regulations
      • Provide assistance in understanding and maintaining fiduciary responsibilities
  • Estate Planning and Administration Services

    • Estate planning encompasses more than the transference of one’s wealth to another. It’s about maximizing asset retention and minimizing the tax consequences. Whether you have built a successful business or achieved financial success through other means, it is important to protect your assets now and in the future by implementing a gift and estate plan tailored to your needs and goals. At Mitchell Wiggins, our Estates and Trust team will help you attain these goals and protect your assets. Our team is available to assist with the administration of estates and trusts by helping you:

      • Review current estate documents
      • Develop a comprehensive estate and succession plan
      • Take advantage of current estate and gift tax exclusions
      • Integrate charitable goals into your estate plan
      • Probate and Administration coordination, such as inventories and accountings, the funding of trusts, and the preparation of Estate and Fiduciary tax returns.
      • Filing of Accountings required by the Commissioner of Accounts
      • Determine valuation of existing businesses
      • Valuation of existing businesses
      • Business succession planning
  • Assurance Services

    • Sound financial reporting and internal controls are crucial to a company’s success. Mitchell Wiggins has a reputation for quality assurance services, focusing on objectivity while providing your business with practical recommendations to increase efficiency. Timeliness of service, adherence to professional standards, integrity, creativity of the presentation of the information, and exceeding expectations are some of the attributes consistently found at Mitchell Wiggins.

      Mitchell Wiggins has received a rating of “pass” on all of our peer reviews. We are members of the AICPA’s Audit Quality Center, Private Company Practice Section and the Center for Plain English Accounting. Many of our professionals are active in the Virginia Society of CPAs as well as various industry organizations including the Virginia Manufacturer’s Association, the Central Virginia Employee Benefits Council, the Virginia Association of Fundraising Executives, the Richmond Medical Group Management Association, the Virginia Medical Group Management Association, the Associated General Contractors of Virginia, the Associated Builders and Contractors Virginia Chapter, the Commercial Real Estate Women Richmond and the Virginia Society of Association Executives.

      Our assurance services include:

      • Audits, reviews and compilations of financial statements
      • Preparation engagements
      • Employee benefit plan audits
      • Service Organization Control Audits (SOC 1 Type I and II)
      • Internal audits
      • Internal control reviews
      • Agreed upon procedures

“Mitchell Wiggins provides knowledge, assessment, and global information about our business and competition. The Mitchell Wiggins team is readily available and acts as our partner.”

-Mitchell Wiggins Client