Welcome
Who we are
Randle Havens, CPA, MBA
Rand is not your average accountant. Driven by a passion for empowering businesses with seamless financial navigation, he launched his solo practice in 2012. His focus? Providing tax, accounting, and CFO advisory services to individuals and businesses operating both domestically and internationally. Rand is adept at preparing US federal and state returns. Most of his clients are based in the Dallas-Ft. Worth area. He has also represented clients under IRS audits, occasionally coming face-to-face with the agent.
Armed with an MBA in Management from The University of Texas at Arlington and a BBA in Accounting/Business Honors from The University of Texas at Austin, Rand brings a depth of knowledge and strategic foresight to every
client engagement.
Rand thrives in the role of "freelance CFO," stepping in alongside startups and growing companies to:
Streamline and normalize operations: His expertise shines in optimizing accounting and compliance systems, ensuring your business is lean and agile.
Conquer complex challenges: Rand recently analyzed the post-merger contract-to-cash process at Vizient Inc. while ensuring ASC 606 compliance. He also updated the Philippine accounting system for Open Look Business Solutions as Interim CFO.
Guide global expansion: His experience extends beyond US borders, as evidenced by his successful transition of Hanson Robotics (creators of the world-famous Sophia) from Texas to Hong Kong as CFO. After a stint with U.K. based NelsonHall (a global business analyst firm), Rand also facilitated transitions for U.S. businesses for two of India's biggest juggernauts: Wipro and Tata Consultancy Services (TCS).
Tax Savvy Across Borders: Rand has prepared thousands of returns for clients in North Texas and around the country but he has other ad hoc experience with companies outside the U.S.
· Preparing individual tax returns for Revenue Canada
· Opening and maintaining business bank accounts in Canada
· Calculating PST/QST for Canadian transactions
· Securing refunds of VAT from European nations
Please contact Rand for your free 30-minute consultation.
Among Our Valued Clients
Darren Morris
Head Coach, Chicago Griffins Rugby
Darren Morris has been a client of Randle Havens, CPA for over 5 years. Morris is a former Wales international rugby player who also represented the British & Irish Lions. His background also includes international and domestic professional coaching roles.
"Thanks to Rand’s commitment to help, I have been able to learn about the American tax system and what it takes to comply. Rand was very patient and worked hard with me to develop a balanced tax strategy."
Vianna Ly
Owner, Elegant Nails
Fairbanks (Santa Claus), Alaska
"I was very lucky to have been referred to Rand in 2020. My business was under two different examinations by the state. Rand was able to help me understand what the auditors wanted and how I can best give them the right information. The tax issues were resolved and I now know more about how to avoid examinations in the future."
Tax Prep & Planning
While a computer software program may help find deductions, there’s no substitute for the quality of service and advice you’ll receive from an experienced tax professional.
Here are a few of the benefits you’ll reap when using our service:
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We’ll prepare all of the appropriate forms and record all figures and calculations accurately.
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We’ll make sure that you receive all of the deductions and credits to which you are entitled.
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We’ll file your return electronically to speed delivery of refunds.
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We’ll work with you to adjust your payroll withholding to make sure you send the right amount to each tax authority – no more, no less.
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We’ll show you how to adjust your finances to take advantage of tax benefits on future returns.
Are you a sole proprietor? Have you been so focused on your business that you haven’t paid close attention to your books? No worries! We'll tidy things up and prepare your Schedule C as part of your personal income tax return. Then we'll help you set up an easy system to keep your books current going forward.
Strategies
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Splitting income among several family members or legal entities to take advantage of lower income tax brackets
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Shifting income or expenses from one year to another when it can yield a lower tax rate
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Deferring or eliminating tax liability through use of tax-advantaged investment vehicles
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Tracking all expenses eligible for itemized deduction
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Taking advantage of tax credits
- Adjustment of payroll withholding
Tax Problems
Even if you have not been targeted for an IRS Audit, you may be aware of problems that will catch up with you eventually. Common examples include:
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Missed tax filings for one or more years
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Insufficient funds to pay the tax liability when due
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Failure to remit payroll taxes
We’ll work with you to review your prior tax years and make sure that all of your tax filings have been submitted accurately. If you don’t know what’s included in your tax record, we’ll help you get copies from the tax authorities without raising any "red flags." We'll assess your tax liability and the associated interest and penalties. Then, we’ll work with you on an approach to negotiation.
It is far better to face your problems than to wait for them to land on your doorstep. We’re here to help in any way we can.
Resolution Strategies
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Settle your tax debt for less than the full amount owed if the tax authority deems your offer to be the most they might collect within a reasonable time period.
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Payment Plan to resolve debt. This approach protects you from asset seizure to settle your obligations. It may be possible to secure relief on penalties and/or compound interest.
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The IRS provides Innocent Spouse Relief when for an aggrieved party when his or her spouse or former spouse failed to report income, reported income improperly, or claimed improper deductions or credit.
Small Business Accounting
Businesses of all shapes and sizes depend on accurate, insightful financial information to manage their day-to-day operations, capitalize on opportunities, and sustain profitability. We lend our expert support to meet your accounting needs so that you can focus your time and energy on building a strong business.
We’ll create and maintain a chart of accounts to capture all of your financial transactions, provide the right information to manage your business, and prepare federal, state, and local tax returns. Through periodic internal audits, we’ll identify and resolve discrepancies (e.g., double billings, unrecorded payments) to ensure that you have a complete and accurate picture of your financial position.
While a clean set of books is a key objective for every accountant, it’s also important to match the accounting records with the monthly bank statements. Our bank reconciliation services ensure that every deposit and withdrawal aligns with entries into your accounting records. This assessment enables us to identify lost deposits, lost checks, unauthorized transactions, and inappropriate bank fees. It triggers investigation into any fraudulent activity (identity theft, forgery, embezzlement, etc.), and expedites restitution. And it gives you a clearer picture of your cash position for addressing planned outlays and investments.
We can prepare a complete set of financial statements to help you assess the health of your business. This package includes:
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A Balance Sheet that gives you a snapshot of your overall financial condition at month, quarter, and/or year end
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An Income Statement (a.k.a. Profit and Loss Statement) that summarizes revenues, expenses, and net profits so you can assess the operating performance of your business
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A Comparison of Actual Performance to Budget so you can identify trouble spots in your revenue stream or spending patterns
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A Cash Flow Statement that shows how changes in your Balance Sheet and Income Statement affect your available cash
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Estimated tax liabilities
Our analysis of your financial statements helps you frame strategic initiatives (e.g., business expansion, acquisition) as well as tactical plans (e.g., accounts receivable and accounts payable management). Professionally prepared financial statements are also an essential resource when dealing with creditors (e.g., vendors, banks) and investors.
When you use our professional accounting services, you get more than a collection of records and reports. You get the benefit of our skills, experience, and expertise. We’re happy to invest the time to make sure that you understand and utilize all of the information we provide. Call us whenever you have a question or concern.
Although Rand.cpa does not provide payroll services directly, we can help you find a company that specializes in this very complex accounting function.
There are 5 good reasons for outsourcing this function:
You will save money by letting the experts attend to the task efficiency and accurately.
You will avoid penalties associated with payroll tax calculation errors or missed filing deadlines.
They will handle employee questions and concerns, and research any issues they uncover.
You will receive comprehensive reporting to help manage your business and attend to any special requirements.
You will gain valuable time to focus on running your business.
At a minimum, the company you use for payroll should provide all of these services:
Vacation, sick, and personal day accruals and tracking
IRS and State tax reporting plus Electronic Federal Tax Payment System (EFTPS) deposits
Monthly, quarterly, and annual payroll tax reports
New hire file creation and reporting
W-2 and W-3 preparation
Rand.cpa does provide services to generate, distribute and file 1099s.
Virtual CFO
As your business prospers, a part-time Chief Financial Officer can help you develop financial plans to support business strategy, provide oversight of your accounting and administrative functions, and establish safeguards to mitigate risk. Our seasoned professionals fulfill your needs at a fraction of the cost of a full-time employee.
Your Virtual CFO translates your business strategy and operating plans into detailed financial forecasts (Balance Sheets, Income Statements, Cash Flow Statements, Department Budgets) by month over the planning horizon. These forecasts expose capital, staffing, facilities, and equipment requirements for which actions plans must be developed. They also contemplate tax strategies to minimize liabilities while making provisions for quarterly payments. Once plans are set, your Virtual CFO helps you establish performance benchmarks and provides the means to track progress (actuals vs. forecast). Expert counsel helps you minimize the impact of variances as well as initiate corrective action. Moreover, profitability analysis by service or product line can suggest opportunities to refocus sales effort or highlight the need to improve margins through repricing and/or cost containment.
Your Virtual CFO has the ability to provide oversight of all aspects of your company’s financial affairs. This includes:
- Establishing strong internal controls to ensure accurate transaction processing while minimizing exposure to fraud and theft
- Training and managing the accounting and payroll staff – whether in-house, through our firm, or via a third party service
- Providing financial reports and performance benchmarks within a few business days of month end closing
- Identifying sources to meet capital and operating requirements and taking the lead to negotiate favorable terms
- Building a cash reserve appropriate to your business model, anticipated growth, and market outlook
- Maximizing the return on invested funds by identifying appropriate investment opportunities and managing relationships within the investment community
- Reviewing and approve all tax filings with federal, state, and local agencies
Your Virtual CFO can be responsible for understanding and mitigating key elements of your company’s risk profile. In addition to developing internal controls, this function includes, but is not limited to:
- Ensuring the company complies with all legal and regulatory requirements
- Establishing recordkeeping policies and procedures that meet the requirements of financial institutions, auditors, and government agencies
- Maintaining appropriate insurance coverage
- Monitoring open legal issues affecting the company
- Managing relations with external auditors and investigating their findings and recommendations
QuickBooks
Set-Up & Conversion
Although QuickBooks is very easy to use, it takes a bit of expertise and foresight to design the system for maximum benefit and effective control. Moreover, a new system set-up or conversion presents the opportunity to address long-standing gaps, inefficiencies, and annoyances. You don’t do it often, so you might as well do it right!
Although we tailor each engagement to each client’s needs, here is a list of QuickBooks Set-Up services that we offer:
- Enter transactions since the start date using tools to import multiple transaction types and large quantities of data
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Assess accounting and reporting requirements
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Establish hardware and software specifications
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Install the accounting software
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Design and implement the chart of accounts, loading balances as of the start date
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Record outstanding accounts receivables and payables
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Enter ending statement bank balances and outstanding checks, deposits
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Compare trial balances from the old and new systems to ensure that all data was transferred correctly
Tune-up & Training
A QuickBooks Tune-Up is a great way to prepare for tax time, an important meeting, or a periodic review of your business strategy. In a few hours, we review transactions, clean up stray entries, balance the general ledger to subsidiary ledgers, and adjust the chart of accounts to reflect changes in your business model. A Tune-Up can help you make better decisions and minimize the ill-effects of undetected errors.
Whether you engage us to help with your implementation or need a refresher course on the system, we provide tailored training on using QuickBooks to manage your business. We conduct online sessions and adapt the course content to your set-up and business issues. There is no need to spend time on capabilities that you will never use.
Advisory Services
We offer value added services that help you structure and manage your business to optimize your business wherever it is in its growth cycle. Rand.cpa helps new businesses get off the ground and provide objective assessments of existing ones. We work with you to write policies and procedures to protect your business outside entities examine your processes. Your business reaps the long term benefits of increased efficiency, control, and insight.
We provide objective assessments of businesses by helping identify and analyze the relevant factors that drive value. We examine:
The strength and stability of the customer base and the associated revenue stream
Prospects for growth given the available market and competitive positioning
The overall financial health of the business
Valuations for comparable entities
The results inform your decision making as you buy or sell business interests, forge partnerships, negotiate with third parties for debt or equity financing, navigate marital separation, or settle estates. Rand.cpa can serve as advisors during due diligence and provide expert testimony in legal proceedings.
Are you thinking of joining the ranks of small business owners? Rand.cpa has helped many entrepreneurs start their journeys. Along with a great idea and strong sense of the market you serve, you will need a business and financial advisor who can help your dream take flight.
Rand.cpa helps you:
Develop or refine your business plan with the associated pro forma financial statements (Balance Sheet, Income Statement, Cash Flow) and budget
Select a business structure that suits your needs by considering tax advantages, legal exposure, ease of operation, and portability
Develop partnership agreements, as needed, to avoid financial and/or emotional trauma downstream
Prepare and file all required state and local licenses and permits.
Make application for your Federal Employer Identification Number.
Identify start-up capital needs and available resources to address them
Examine your borrowing power and provide coaching on how to cultivate a mutually beneficial banking relationship
Identify your business insurance needs
Select the right accounting software and establish the appropriate chart of accounts
Establish billing and collection procedures to maximize your cash flow
Establish procedures to monitor and control costs
We are eager to get your business off to a good start by avoiding mistakes other new business owners often make.
We help you establish appropriate internal controls to ensure proper handling of resources and guard against employee theft. Some best practices include:
Segregating duties across multiple individuals to minimize exposure to error and inappropriate behavior
Establishing lines of authority and the associated processes for transaction approval
Assigning responsibility for periodic review and reconciliation of financial records by someone who was not involved in executing transactions or preparing statements
Scheduling periodic manual counts of equipment, inventory, and other tangible property to ensure alignment with the accounting records
Documenting policies and procedures as guideposts for your employees’ day-to-day activities
Training employees on their respective job duties and establishing appropriate levels of ongoing supervision
Reviewing operations to ascertain whether results are consistent with established goals, objectives, and protocols
While rand.cpa does not perform these types of engagements directly, we can guide you in securing one the three formal U.S. levels of “assurance” of your financial statements based on your company’s needs:
An audit is the highest level of assurance that we can provide. It entails a systematic examination of the financial statements, internal controls, and selected transactions for purposes of expressing a professional opinion on the fairness of the information provided.
A review is a more limited investigation to provide some level of assurance that material modifications to the financial statements need not be applied. Testing primarily consists of high level examination, year-over-year comparison, inquiry, and analysis. It does not examine back-up data to substantiate the financial data. A review may suffice for selected outside interests.
A compilation presents client-supplied data in financial statement format. No assurance is provided by the accountant as no testing, inquiry, or analytical procedures are performed. This service typically serves an internal audience.
Contact us to discuss your needs for financial statement assessment. We can help you assess what you need and help you find a CPA firm who provides these services.
Rand is extremely easy to work with. He understands the challenges small businesses face in their day-to-day operations. We rely on his expertise to focus on what is important.
You guys rock! The service was excellent. Thank you for making it painless, pleasant and most of all ... hassle free!
I have gotten so much unexpected value from Rand and his team. Thanks for your patience and the great service. It's exactly what I've been looking for.
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WE LOOK FORWARD TO HEARING FROM YOU
Free 30 minute Consultations
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Call (214) 998-3011