Stovall & Associates

Our Services

Past, Present & Future

Independent financial service professionals who choose our firm rely on competent advice and fast. You will find a team who provides total tax services to businesses, large and small.

Using the services we offer, your clients have access to a suite of services that encompass the past with the Second Opinion Tax Review, the present with preparation and filing services, and the future with Roth IRA conversion analysis and other advanced tax planning.

Featured Service


Small business owners may be unknowingly putting their company at risk of noncompliance. Prevent payroll mistakes using payroll services through Stovall and Associates.

One of the most valuable assets an independent small business owner has is time. At Stovall and Associates, we created payroll services to provide small business owners with more time to focus on revenue-generating activities, allowing more time build a successful organization and avoid costly payroll filing payments and penalties.

Our comprehensive payroll service include: payroll processing, tax computation, tax filing, check distribution and direct deposit. Plus, business owners enjoy online 24/7 access to update payroll information, download reports and more.

Past Analysis


One of the smartest men of the last century, Albert Einstein, stated the income tax code is the hardest thing to understand in the world. There are a mind-boggling 5.5 million words in the tax code. At 16,845 pages, it's impossible for the average taxpayer to know, understand and accurately apply its provisions!

Second Opinion for Individuals

Moreover, the treasury department's inspector general found up to a 61 percent error rate on tax returns, and Government Accountability Office went undercover to get returns done by the big chains to find nearly ALL of the returns prepared were incorrect to some degree, according to their report.2 Odds are you may have errors on your tax return! The IRS isn't required by law to tell you. So if you don't find the mistakes and request a refund within three years, the IRS wins, and you lose. The good news is there is something you can do about it!

Our team of CPAs and tax professionals will conduct a comprehensive review of your prior-year tax return. If we identify errors, we will re-file the return for you, and you keep 100 percent of any refund money found.

According to The Wall Street Journal, millions of Americans are routinely failing to take deductions they're entitled to, thus overpaying their taxes by billions of dollars collectively. At Stovall and Associates, we present you with a personalized Tax Reduction Report with concrete steps to capitalize on missed savings as well as suggestions to lower your future tax bills. We pride ourselves on helping you build a solid foundation of tax reduction strategies and minimizing your future tax burden.

Ask yourself these crucial questions:

  • Who's preparing my income taxes?
  • What is my overall tax plan?
  • Should I make changes?
  • How do I know what changes to make?
  • Who is going to help me with all of this?

Second Opinion for Businesses

We also offer second opinion tax review services to businesses. According to the Senate Small Business Committee, 93% of small businesses who pay alternative minimum tax overpay their income taxes in excess of $11,600! Our team of CPAs will review your business returns for errors, missed deductions, and additional refund money. Call today.

Present Planning


Our team of CPAs and tax professionals provide tax planning, preparation and filing services year round.

Our team of CPAs and tax professionals provide tax planning, preparation and filing services for our clients year round. Through proper tax planning, you receive proactive advice on tax reduction strategies based on income, expenses, individual needs, and goals. We calculate and explain the tax effects of major transactions such as a new home purchase, child birth and more. Our proactive planning philosophy allows you to minimize tax burdens and build a solid foundation of tax reduction strategies that can result in years of tax savings.

Throughout the year, we monitor tax law changes that may affect you, recommend tax savings strategies and tips as well as serve as your advocate in tax matters.

Our team of CPAs and tax professionals prepare and file your income tax return with the highest level of professionalism and service in the industry. We will answer your tax questions and review and e-file your return. Your tax return is prepared so you only pay what you are required to pay and not a penny more.

Based on our partnership with you, we will implement a sound, carefully planned financial strategy to minimize year-to-year tax liabilities and provide the opportunity to maintain your current standard of living throughout retirement.


Personal decision making regarding potential tax liabilities has never been so easy with the 1040 Snapshot, a powerful guide to unlocks potential areas of opportunity hidden within tax returns.

The 1040 Snapshot provides a tangible road map to tax savings, comparing the current situation of a taxpayer with the potential opportunities to improve their financial future. Uncover how to reduce taxable income, lower marginal tax rates, take advantage of tax deferral, increase tax credit eligibility and reduce taxes paid on Social Security. Gain a clear picture of interest and dividend income, capital gains and losses, deductions, and qualified retirement plan contributions. The 1040 Snapshot is a powerful guide to help taxpayers achieve their financial goals.


We provide a 360 degree approach to tax service and support, allowing us to personalize our offering to your unique situation. Should you have any questions, need additional service, or require assistance on a case that is not outlined on our website, contact our office and speak to one of our tax professionals.

Future Proofing


All taxpayers - regardless of income level or tax-filing status - have the opportunity to convert any or all of the funds from a traditional IRA to a Roth IRA with absolutely no limit on the amount that can be converted.

In recent, Roth IRA conversions have garnered the attention of national media and investors, alike. But, why is everyone talking about conversions? Prior to 2010, only taxpayers whose modified adjusted gross income was under $100,000 were allowed to convert a traditional IRA to a Roth IRA. Beginning in 2010, all taxpayers - regardless of income level or tax-filing status - have the opportunity to convert any or all of the funds from a traditional IRA to a Roth IRA with absolutely no limit on the amount that can be converted. With tax-free earnings and distributions, a Roth IRA is a great way to prepare for a tax-free retirement. While you will have to pay taxes on the amount you convert, paying taxes now could be offset by significant gains later. Switching your traditional IRA to a Roth IRA means you pay no tax on the distributions in future years.

Let our team of CPAs and tax professionals analyze your qualified plan holdings and help to answer the all-important question "Is a Roth conversion right for me?" We will walk you through the process, assuring you the conversion is done correctly and done in the most cost-effective manner possible to help ensure your financial future.

There are many advantages to converting to a Roth IRA:

  • Tax-free qualified distributions
  • Tax-free growth of earnings
  • Eliminate uncertainty about future tax rates
  • Lower taxes owed on retirement benefits like Social Security
  • No minimum distribution requirements
  • Provide a greater financial legacy to your heirs


Millions of Americans are faced with investment portfolios containing underwater non-qualified annuities but are hesitant to lock in losses and potentially incur additional surrender charges.

Millions of Americans are holding onto underperforming non-qualified annuities looking for an opportunity to rid themselves of exposure to further losses. There are numerous reasons why someone might contemplate liquidating an "underwater" non-qualified annuity, and the tax benefits may be the icing on the cake.

The personalized Non-Qualified Annuity Loss Analysis report has been designed to help evaluate how to handle the taxation of any losses that may be sitting unrealized within a non-qualified non-qualified annuity contract. It provides helpful information to decide whether to take advantage of the tax implication related to the situation.


A tax projection performed by a CPA is a powerful service when making major financial decisions and life style changes.

Proper tax planning includes proactive advice on tax reduction strategies based on several key areas including income, expenses, individual needs and goals. Our team of CPAs and tax professionals calculate and explain the tax effects of major transactions such as a new home purchase, a sale of a qualified account, and more. Our Tax Projection Report allows taxpayers to anticipate future tax liabilities without being caught off-guard while building a plan to minimize future tax burdens.


Under a special tax rule, a participant in an employer sponsored plan containing company stock may separate the stock from the rest of the plan and pay favorable long-term capital gains rates on the appreciation as opposed to ordinary income tax rates. Upon qualification, this may result in as much as a 20 percent reduction in federal income tax.

Nationally-known IRA expert and contributing author to Ed Slott reminds his readers who were affected by the economic turmoil and resulting layoffs of 2009 and 2010 that they may qualify for a welcomed Net-Unrealized-Appreciation (NUA) tax break. Whether recently separated from service or near retirement (or other triggering event), the concept of NUA is important if to taxpayers who are distributing company stock from their tax-deferred retirement plan, such as their 401(k).

At Stovall and Associates, we offer a simple, yet powerful, NUA tax service. Our team of CPAs and tax professionals provide a calculated report of an NUA treatment, comparing the long-term capital gain tax rates versus the ordinary income tax rate if rolled over to an IRA. Our presentation clearly defines the advantages and disadvantages of the NUA treatment allowing taxpayers to execute the proper course of action for your unique situation.

Some advantages of the NUA treatment include:

  • Favorable long-term capital gains rates, rather than ordinary income tax rates
  • Required minimum distribution rules do not
  • Not subject to the 10% early distribution penalty tax (NUA portion only)

Disadvantages are also present and may include the loss of tax-deferred growth through a rollover IRA and other penalties based on the scenario. NUA is also limited to employer stock and other securities.