Closely-Held Businesses

At Vrakas, we understand that closely-held businesses face a broad array of challenges, making it difficult to operate at their highest levels. To help face these challenges, we have dedicated a specialized group of professionals to work closely with businesses like yours. Our team of experts is experienced with all types of closely-held businesses, and can help your business reach its full potential. Whether your business is just getting started, or is established and successful, we can assist you with your business operating and tax needs.

Our specialists can provide assistance for the following ownership types:

Family-Owned Businesses

Family businesses face unique professional and personal challenges. With over 40 years of experience, our team of experts understands the intricacies involved with providing financial statement audit and tax-related services to companies like yours. We work to provide solutions that will benefit the business, as well as the family members.

Our firm has extensive experience working with family owned businesses of all sizes. Our family owned business specialists provide assistance in the following areas:

  • Audits, reviews and compilations of financial statements
  • Tax return preparation
  • Tax planning
  • Mergers and acquisitions
  • Business valuations
  • Technology consulting
  • Wealth management
  • Estate planning
  • Financial planning
  • Benchmarking/trend analysis
  • Business succession planning

Employee Stock Ownership Plan (ESOP)

With over 40 years of experience, our team of experts has considerable experience working with ESOPs. We understand the opportunities an ESOP provides owners and employees and have the resources and knowledge to assist employee-owned companies across a variety of industries.

Our firm has assisted clients during all stages of an ESOPs life cycle, including establishing ESOPs, liquidating ESOPs, planning for leveraged ESOPs (and re-leveraged ESOPs), and working with attorneys and ESOP administrators on addressing repurchase obligations. We have helped iron out issues with ESOP valuation companies to achieve the most logical results for per-share ESOP values for participants.

We have also dealt with the accounting complexities in unusual situations such as when fair values of un-allocated shares fall below cost.

Our services include:

  • ESOP Plan audits
  • Tax structuring and planning
  • Transaction options
  • Consulting in applying ESOP accounting
  • Audits, reviews and compilations of financial statements

Client Testimonial

“I have had the privilege of working with Vrakas S.C. as a client and as an accounting referral source for over 30 years. I continue to be impressed with the work quality and responsiveness in accounting, tax planning and valuation services supplied by them. Besides doing great work, they are great people.” Attorney Stuart R. Schroeder
Founder, The Schroeder Group, S.C., Attorneys at Law