-7- At the high point of the business, Associates had 20 franchises in the Greater Cincinnati area, 1 in Michigan and 1 in Florida. Most of Associates’ franchisees’ clients were small- and medium- sized businesses. Associates provided services, including the following, to its franchisees’ clients: (1) Tax and business consulting; (2) tax return preparation; (3) monthly and annual financial statements; (4) cash-flow and inventory analyses; (5) source and application of funds reports; (6) expense, purchase, and payroll ledgers; (7) Forms W-2 and 1099 preparation; and (8) audit work. Associates represented to its clients that it had “the most knowledgeable consultants and advanced technology available in the accounting field.” The cover of Associates’ 1979 advertising brochure invited clients to “Maximize [their] profits by Minimizing [their] taxes.” In time, other entities took over some of Associates' activities. However, Associates continued as a sole proprietorship for one facet of business or another until the early 1980's. Associates maintained a bank account at the Central Trust Co. until at least December 1980. About 1979, R. Iles Tax Consultant, Inc., hereinafter sometimes referred to as Consultants, took over the bookkeeping and tax return preparation services previously performed by Associates. Robert was president and Thomas Ney, (hereinafter sometimes referred to as Ney), an accountant, was vice presidentPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011