Client Services
Powers & Sullivan, LLC offers a wide range of services to our individual and business clients. Because our firm is relatively small, our clients benefit by getting personalized, quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.


As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.


Tax Services

Tax Services


We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include but are not limited to:

Tax planning & return preparation

  • Individuals
  • Corporations
  • Partnerships
  • LLCs/LLPs
  • Estates, trusts & gift
  • Not-for-profit organizations
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    Miscellaneous

    Accounting & Auditing


    Our accounting and auditing services begin with the attest function and extend far beyond. While assuring that our clients' financial statements comply with professional standards, we also help them achieve financial objectives and strengthen management.

    Our full range of accounting services include audits, reviews and compilations of financial statements, reviews of internal accounting controls, general accounting support, preparation of specialized reports, assistance with the implementation of new accounting standards and systems, fraud investigations and other special projects.

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    Powers & Sullivan is one of the leading professional services firms providing accounting, auditing and management consulting services to over 80 governmental entities in Massachusetts. We are committed to delivering outstanding service by fully utilizing our industry expertise.

    We understand governmental operations from the inside, so we are more alert to the complex financial and informational demands of a municipality. Our clients come to us because they want more than just an audit of their financial records. They want an independent objective analysis of their financial position, information systems and policies and procedures.


    GASB 34
    In June of 1999, the Governmental Accounting Standards Board (GASB), which is the recognized standard-setting body for establishing governmental accounting and financial reporting principles, issued Statement #34, "Basic Financial Statements-and Management's Discussion and Analysis-for State and Local Governments." This statement has established significant changes to the financial reporting requirements for state and local governments.

    Powers & Sullivan was hired by the Massachusetts Department of Revenue to develop a guide to provide city auditors, town accountants and other financial officials an outline for implementation and the conversion from the present municipal financial statements to the GASB Statement 34 model. Consequently, Powers & Sullivan has written "A Practical Guide for Implementation of GASB Statement 34 for Massachusetts Local Governments". Click on the following link to download a copy of the guide.


    GASB34 GUIDE (4.9MB pdf)

    Note: You need Adobe® Acrobat® Reader® to view and print the guide. Click on the icon below to download a free copy of the software if needed. For the worksheets to flow properly and to ensure optimal viewing, GASB34 should be printed double-sided with facing pages.

    Link to Adobe Acrobat Reader Web Site


    Audited financial statements of local governments must conform to the standards in GASB Statement 34 beginning with statements for fiscal year 2002 for those entities whose revenues in fiscal year 1999 exceeded $100- million. All other entities must conform over the ensuing two years. During this transition period, Powers & Sullivan will be conducting various presentations and seminars for the Department of Revenue, several other organizations and independently to assist municipalities with the implementation process.

    CAFR's
    In addition to requiring annual financial audits, authoritative accounting and financial reporting literature strongly encourages governments to present financial statements as part of a broader, Comprehensive Annual Financial Report (CAFR). Powers & Sullivan has been instrumental in assisting governmental entities in the preparation of CAFR's and their submission to the Government Finance Officers Association for a Certificate of Achievement for Excellence in Financial Reporting. This certificate is awarded to CAFR's that achieve the highest standards in government accounting and financial reporting.

    Single Audits
    All governments that expend $500,000 or more in federal funds during a fiscal year are required to have a Single Audit or program-specific audits under guidelines established by OMB Circular A-133. Single Audits require specific testing and reporting of federal awards. Our vast experience in performing Single Audits allows us to help you comply with federal requirements in the most effective and efficient manner possible.

    Corporate Services


    Powers & Sullivan offers more than the traditional audit, tax preparation and bookkeeping services offered by most CPA firms. We are committed to helping our corporate clients maximize the value of their businesses by utilizing progressive systems and technologies. We provide advanced forms of assurance, which are designed to provide third parties, management and audit committees with confidence that key business risks are identified and managed in the most effective and efficient methods possible.

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    Fraud & Forensic Accounting Services


    Fraud investigations generally arise from management's suspicion of fraud. Powers & Sullivan can help to investigate alleged, suspected, admitted or detected fraud and other potential wrongdoing. By finding the facts, we can help you resolve the situation promptly with regulators and other stakeholders, reducing the adverse impact on operations, reputation and value.

    Not-for-Profit Services


    Powers & Sullivan is instrumental in providing more than just audit and tax preparation services to our not-for-profit clients. We are committed to helping our clients understand and comply with the complex requirements placed on not-for-profit entities by the Internal Revenue Service as well as the Financial Accounting Standards Board.

    Single Audits
    All not-for-profit organizations that expend $500,000 or more in federal funds during a fiscal year are required to have a Single Audit or program-specific audits under guidelines established by OMB Circular A-133. Single Audits require specific testing and reporting of federal awards. Our vast experience in performing Single Audits allows us to help you comply with federal requirements in the most effective and efficient manner possible.